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Hopkins : Real Estate Advice

  • All12
  • Local Info1
  • Home Buying5
  • Home Selling0
  • Market Conditions0

Activity 21
Sun Apr 2, 2017
Connie.wittrock9 asked:
looking for 2-3 bedroom, around 1400-1500 price. Where does a person start?
Could maybe do condo or house for rent if everything does not go pass 1500.00
Need in the next 30-45 days maybe.…
0 votes 0 Answers Share Flag
Thu Feb 2, 2017
Ericnordeen5 asked:
My house that is still posted is in past listings so i cant edit it. my only option is "view listing" Is there anything you can do on your end?
address is 19101 Delton ave MN.…
0 votes 0 Answers Share Flag
Mon Feb 29, 2016
Scott Colehour answered:
0 votes 1 answer Share Flag
Mon Feb 23, 2015
flyby642 asked:
After Peter asking this question in 2009, does most people think this is still a good purchase? Is 400- 450 association fee too high or not too bad for condos?
0 votes 0 Answers Share Flag
Mon Sep 29, 2014
bpcardella asked:
Wed May 21, 2014
Matt Jerome answered:
I also am familiar with the Cloud Nine Sky Flats. Just a few years ago you about 20 of the 164 Units were in foreclosure. I worked with investors who were renting them out hoping to hold them long enough to break even. Very contemporary nice units however there is no green space and your right on the freeway. Entertaining in the outdoor grill area is deafening. For the money you could find better options. ... more
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Fri Dec 20, 2013
Michael Schatz answered:
how much space do they want/need? We are on Mainstreet and there is opportunity for walk in traffic.
0 votes 3 answers Share Flag
Mon Apr 9, 2012
Vicki Weber answered:
Fri Dec 16, 2011
Donald James answered:
Hi Robbie,

Dual agency has been covered well with these other answers. As a first time buyer you want a buyer's agent who will lead you through the search, financing, inspection, closing, etc. As a first time buyerm 80% of your path to home ownership is gaining knowlege about the market and the process. You need an agent who works solely for you to help guide you through the process and find the right home for you. ... more
0 votes 10 answers Share Flag
Tue Nov 22, 2011
Elizabeth Fuller answered:
Hobby Acres is, in my opinion, a very nice place to live. The homes are attractive, there is a neighborly feeling and nice family atmosphere. I have friends who lived there and have sold homes in that neighborhood. I think, in general, there is little noise from 169; there could be some depending on the time of day and where the particular home is situation. Probably the best thing to do would be to call the MN Highway Department; they take decibel ratings of all major roads and also do traffic counts. After securing this information, I would plan to go to the home and see what I felt was noise intrusion in the home at particular times of day that concerned me. I hope you will find this helpful and I wish you well in finding a home you like. I can also tell you that I lived a few blocks from 169 in Golden Valley for many years. We did not really hear the traffic noise; there was a freeway wall, many trees and the rows of homes more immediate to the highway shielded us. Liz, 512-986-4105 ... more
1 vote 1 answer Share Flag
Mon Jun 6, 2011
Chris Block answered:
Just to basically say the same thing as everyone else ha! Your tax questions is already answered.

In my opinion a 1st time home buyer should really think hard about future market trends for their first purchase. We just live in a different time period where almost no one will stay in their 1st home longer than 5-7 years.

Also, 1st time purchases are like 3rd time purchases in this market. There is so much equity potential for buyers it is sick.

Hopkins is a super good area and although the TH market is a lot better compared to others in the metro I would highly suggest sticking with a singly family home detached.

So I tend to be a little more agressive with my 1st time buyers on the analytical side versus lifestyle unless it is a situation where they believe this 1st home will be a long term. That is just my personal opinion and if you ever have questions about this I am more than happy to help.

... more
0 votes 6 answers Share Flag
Tue Feb 15, 2011
Bonnie Hammel answered:
You need to find out wehat other homes in the area have sold for and if there are other offers. I find that when a bank lowers a price significantly, it often creates multiple offers. Contact a realtor to help you with this offer. ... more
0 votes 12 answers Share Flag
Thu Jan 13, 2011
Susan Hofflander answered:
Hey, G. Not sure if you've already moved forward on this or not, but we really don't have enough info to help you specifically. What about your agent? He/she must have some advice for you about pricing.

That said, in GENERAL, if one sold down the block that's the same unity for $89,9, that's most likely the price point you'll end up at. You could try to start lower. But, one factor is whether this unit is a traditional sale or bank owned or a short sale. All of these negotiating scenarios make a difference.

Are you saying that $92,5 is a fair price for the unit YOU'RE buying or for the other one? Kind of confused! :)

Please seek out a good buyer agent. It doesn't cost you out of pocket and what you can save will be invaluable to you in terms of guidance, advice, input, negotiating savvy, etc. Good luck!
... more
0 votes 5 answers Share Flag
Tue Oct 20, 2009
All these answers are good I just thought you might want access to these. If you want to see if a property you're interested in is eligible for USDA financing, go here and if you want to see if you are eligibile for a USDA loan from an income standpoint, go here: These are good links for realtors to bookmark too because a lot more people are eligible for these loans than people think. ... more
1 vote 7 answers Share Flag
Sun Oct 4, 2009
Voices Member answered:
The great thing is that you got Pre-Approved and if your Loan Officer did it correctly you should have little to fear. Normally the only thing to worry about is what the house will appraise at and if there are any issues on title. I guess I am suprised that you didnt use your VA eligibilty to purchase the home. Just remember that it is much better to be proactive then being reactive. Underwriters have to be able to prove beyond any doubt that this loan should be done. When an underwriter asks for a "condition" it can take 48 hours if not more for the underwriter to look at it after they have received it. Better to have all your ammo up front! ... more
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Tue Aug 4, 2009
CCC answered:
Did you close? Earnest money should had gone to an escrow account. I will assume you are doing or the contract is subject to inspection.
0 votes 5 answers Share Flag
Sat Jul 11, 2009
Susan Hofflander answered:
The underwriter of a mortgage wants to make sure that the property they are underwriting a mortgage for is worth it. If the building isn't finished, the association is not stable, there is litigation between the builder and developer and the City because of bankruptcy, etc., these could all be reasons why there is no chance of delivering clear title and why it's considered unstable. And, those are reasons why a seller would say "cash only". They pretty much know that financing is going to be a problem through a conventional lender. If you can find a private mortgage holder who is willing to put up the money in the face of all of the problems, you could try that.

If you're going to try the cash route, make sure you aren't leaving yourself with no reserves to pay for the place.

By the way, the problems I describe are actually going on in some condo developments that have units for sale right now!!
... more
0 votes 5 answers Share Flag
Tue Jun 2, 2009
Rob Saxe answered:
Hi D,
There could be several things at play here. The buyer with the FHA financing could be represented by a buyers agent of the listing agent or by the listing agent. When the listing agent told you that there were no other offers, that may have been true at the time. If he didn't let you know to come in with your highest and best, it's a good bet that the listing agent may represent the financed buyer. It's also equally true that he or she may not.
Here is the thing about REO listing agents: The majority of them are highly unorganized. It could have gotten lost in the shuffle. My advice going forward is to offer your highest and best contingent upon an appraisal to verify market value. This way you can offer higher without significant risk of paying too much and ask for an adjustment if the appraisal comes in lower.
Another approach is if this does fall out, in the financing terms of future offers, enter in a clause that reads something like "buyer to pay $1000 over any other bona fide offer. Seller to substantiate approved sales price upon acceptance." It works great especially if you're all cash. Insist the seller show evidence of other offers before going forward if possible and legal in your area.
Generally speaking, unless your offer is SIGNIFICANTLY lower than the financed offer, the bank is going to want to go with the offer with the least path of resistance, aka, an all cash offer. On a 203K though, the appraiser should take the condition into account that's why they are doing the 203K. At the end of the day, when financing, the seller doesn't care what the loan terms are as long as they get paid.
I hope that helps. If you have any other questions, please feel free to contact me.
... more
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