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Minnetonka : Real Estate Advice

  • All47
  • Local Info3
  • Home Buying13
  • Home Selling5
  • Market Conditions4

Activity 29
Tue Jun 13, 2017
Jori Nunes answered:
Your contract is legally binding, I suggest people including agents who commented read it. If a Brokerage is doing their job and spent time and funds on a listing, there's still a contract until it expires unless the Broker agrees to get go of the client. For me, I have spent hours staging and marketing, ordering custom riders and signs and if I have offers then the client decides to cancel, I will happily remove my sign (so they don't damage it) and place the MLS status as Temp off Market until it expires or my fee is paid. There's too many people who don't like an agent but use them for all their hard work and experience then listen to someone less experienced and think they are all of a sudden smarter than an attorney. Read your contracts and contact an attorney. Agents, do not give legal advice, that is illegal unless your licensed to do so. ... more
0 votes 7 answers Share Flag
Sun May 28, 2017
aburzycki asked:
Mon Aug 22, 2016
Kathy Burgreen answered:
I would sue the agent for the lousy paint job & costs to repair it. Then please write negative reviews online so future sellers won't suffer the same hideous job this agent did to you. Post negative reviews on Zillow, Trulia & realtor.com ... more
0 votes 2 answers Share Flag
Wed Feb 10, 2016
Katie Harry answered:
make sure you use the shore to your advantage, Spring/Early Summer... It's not uncommon for more expensive houses to sit longer, so plan to have it listed early, so you have the entire summer to highlight the lake/beach/landscaping etc. The market is going to blow-up with new listing over the next couple of weeks, just an FYI. Know the comps. A strong agent will help you prep and should do all of this thinking for you!


Katie Harry, MRP
Certified Veterans Home Buying Agent
651,331,9664
katie.harry@kw.com
Keller Williams Realty Integrity NW
... more
0 votes 1 answer Share Flag
Wed Aug 5, 2015
Josh Lund answered:
Hello Dave Thorp,

Good afternoon.
Did your clients find a 4 bedroom home in Minnetonka, in that specific school district? I would like to introduce myself , my name is Josh Lund. I would like to see if I can help them out with a home mortgage. we do credit all the way down to 600. I will try and make this a very easy process. Please let me know how to help out.
Thanks much.
Josh Lund
MN District Branch Manager
NMLS # 387408
Gold Star Financial Group
Mobile: 612.802.3265
Office: 952.884.5442
eFax: 877.666.0007
jlund@goldstarfinancial.com
... more
0 votes 5 answers Share Flag
Fri Jul 17, 2015
Josh Lund answered:
Hello D,
Good morning.
FHA and VA are both great loan products. 1st off in order to do a VA loan you have to be a veteran or a spouse of a veteran. On a FHA you need 3.5% of the loan amount as a down payment. There are many other things that are great about both loan programs. Lets talk about them both, and maybe even other loan products that could help you. Are you still in the market to buy a home? If so, I would love to see if we can help you out. We work with 1st time home buyers all the time. Do you have a realtor yet? If not we have preferred ones we can get you in contact with. I would like to see if I can help you out with a home mortgage. I will try and make this a very easy process. Please let me know how to help out.
Thanks much.
Josh Lund
MN District Branch Manager
NMLS # 387408
Gold Star Financial Group
Mobile: 612.802.3265
Office: 952.884.5442
eFax: 877.666.0007
jlund@goldstarfinancial.com
... more
0 votes 5 answers Share Flag
Wed Jul 1, 2015
Josh Lund answered:
Hello Julie,
Good morning.
Minnetonka is Great! I agree with you about the je ne sais quoi. Lots of great restaurants, shopping and parks. But I think the thing that sets it apart from everyone else is LAKE MINNETONKA! This lake is truly a jewel. Lord Fletchers , Maynard's, and Bay View are great places to go and be seen! The school are always ranked in the top ten percent, and the Homes are spectacular. Some of the homes on Lake Minnetonka are 10 million, all the way down to 500k for a SFH. A condo/townhouse can be had for less.
If you are in need of a realtor or Mortgage questions, I'd love to see if we can help you out.
Please contact me.
Josh Lund
MN District Branch Manager
NMLS # 387408
Gold Star Financial Group
Mobile: 612.802.3265
Office: 952.884.5442
eFax: 877.666.0007
jlund@goldstarfinancial.com
... more
0 votes 4 answers Share Flag
Thu Feb 26, 2015
Mike and Kim Thomas answered:
Call me sometime i would like to hear more of your storie. 952-405-2891
0 votes 7 answers Share Flag
Wed Jan 28, 2015
Scott Godzyk answered:
It will depend what your listing agreement states. Check your contract and as with any contract, if you do not understand it check with a alwyer to review it
0 votes 2 answers Share Flag
Thu Mar 6, 2014
Mary Myhre answered:
Hi, you may or may not, still be checking your messages to your original question about renting vs. assuming an FHA loan. The market has definitely taken a turn for the better. If you did assume the loan and are still wanting to move, now may be the perfect time to put that home on the market. Let me know if you are interested in finding out its market value.

Regards,
Mary Myhre
RE/MAX Results
612-387-0047
... more
0 votes 3 answers Share Flag
Tue Feb 25, 2014
Annette Lawrence answered:
??????? Why would you think you can find class size information on a real estate website? Seriously, do you think everything you see on the internet is true? Most of the data that you find FREELY available will be highly biased to serve the purpose of the site where it is appearing. On Trulia, an advertising and entertainment website, the purpose is to provide volumes of internet information to keep you here as long as possible hopefully to get you to click on one of those ads. THAT IS IT IN A NUTSHELL. You should have no expectation of accurate, reliable, timely, responsible or relevant information. For that you would be well advised to turn towards the professional who are accountable for the data they present. In your case....you need to chat with the dept of education or school admin. ... more
2 votes 1 answer Share Flag
Thu Jan 23, 2014
Dave answered:
Minnetonka School District is now up 5.3% for the trailing 12 months from today Jan 23, 2014
The average sale price is $515,000 up 6.2 %
The average price as measured by finished SQ FT is up to $170, up 8.1 %

Dave@DaveThorp.com
Minnetonka-Homes-for-Sale.net
... more
0 votes 10 answers Share Flag
Wed Oct 16, 2013
Cody Anderson answered:
Hi Gerard,

How much are you able to spend on rent monthly?

What type of terms for a lease?


Let me know if I can help :)

Thank you,

Cody Anderson, MN Licensed Realtor


RE/MAX RESULTS
Metropolitan Home Team

Phone: 612-242-5752

Blog: http://cody.searchforminneapolishomes.com/
... more
0 votes 2 answers Share Flag
Thu Sep 12, 2013
Randall Yates answered:
Depends on your debt to income, with no monthly debt like student loans or car payments yes you can go up to 500k. Credit score requirements vary by lender I know of several that loan with scores down to 580 scores ... more
1 vote 13 answers Share Flag
Sun Aug 4, 2013
Julio answered:
It seems to me the market is slow right now and slowing as we speak, since everybody expects that the Federal Reserve will taper the current 85 billion dollars a month bond purchases that it is doing by creating money out of thin air, that will inevitable exacerbate the increase in interest rates for a 10 year Treasury bill, interest that the mortgages usually track. That will make mortgages even more expensive than they are today. The last increases in interest for a 30 yr fixed loan has been over 100 basis points, that has priced down a lot of people that can afford less house than before, so if your house is priced in the lower portion it may have benefited, but if it was above the median, there will be fewer buyers. The expectation is that any interest rate increase will create a larger discount rate to discount the future cash flows that the property could generate and that is its intrinsic value, since there would be a better investment to make other than buying, it will also make more attractive financially speaking to rent than to buy. At the same time the % of young adults that live at home is at a 45 years high and growing, and as analysts point out, it is well below the upper bound observed in other societies that have undergone this transformation ahead of the USA, like Italy where it is 61%.The main reason is the unaffordabillity of housing to start a family. The trend in those societies is for multigenerational housing where each generation lives in a different floor of the house. Something our housing is not prepared for in the USA. In summary, with rates going up and people being priced down with little hope of interest rates going further down (discount rates by the Fed at near zero and monetization at 85 Billion $ per month (http://technopark02.wordpress.com/2013/05/19/feds-permanent-open-market-operations-pomo-schedule/) ), and household formation at a 45 year low ( and going down), I see little room for prices to go anywhere but down.
Of course that is under the assumption that will not experience a hyperinflationary event that destabilizes the economy, if that were to happen, then all bets are off. So watch out, since you are not a financier, do not sell anything real state without having a firm contract in place to buy something else. it has happened in other countries where people procrastinated put the money on a CD before buying another home, or speculated prices will go further down and a black swan event happened and after a few months they could buy anythiing with the money they had put away.
Very long explanation, but since finishing my MBA I finally understand how prices of real state work and feel a lot of empathy for your question. I now know that it is the wrong question, since the time you are asking for looks in the mirror at past events and that doesn't matter at all, you need to look at future events and the behavior of interest rates is what is going to determine the value of your home, of course assuming all other factors remain equal, but I know that you know all of those critical real state facts.
... more
0 votes 4 answers Share Flag
Sun Apr 14, 2013
Tatyana.sher answered:
To survive minnesota winter your main floor of living need to be up! Otherwise your need speceal heating on a bottom floor. Good luck!
0 votes 10 answers Share Flag
Tue Nov 15, 2011
Sharon Anderson answered:
Sat Jul 9, 2011
Michael Emery answered:
I would run this scenario past an attorney that practices 'elder law'. In your posting you said your mother has very little assets. If in the future she would need state assistance (moving into assisted living / nursing home) the county where she resides will look back upwards of five years for any asset transfers and if it's deemed they were inappropriate they could deny aide or force the parties that received the assets to return them. We had a similar situation in our family where our mother inherited a large sum of money. Fortunately she consulted a local attorney who advised her not to give away the money in case she needed to be moved to assisted living (as she wouldn't have had assets to pay for assisted living - like 60 percent of those in a similar situation). ... more
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