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Saint Paul : Real Estate Advice

  • All176
  • Local Info27
  • Home Buying67
  • Home Selling9
  • Market Conditions5

Activity 203
Mon Oct 21, 2013
Barb Huppert answered:
To answer this question you would need to have a title search performed. You can either do it yourself by going to the St. Paul Courthouse on Kellogg, or hire a Title company to do it for you.
Hope this helps.
Barb Huppert
Huppert Homes USA
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Tue Aug 6, 2013
Elizabeth Fuller answered:
What area do you prefer? What is your rental budget? Call Liz at 612-986-4105 or email drlizzie@comcast.net
0 votes 1 answer Share Flag
Tue Jul 23, 2013
Kim Eisen answered:
Hi Northa

Pretty much each agent is an 'Exclusive Buyer Agent' as you both sign an 'Exclusive Right to Represent Buyer' and they are representing you as a buyer. There is no 'dual agency' if the home is not listed with their company.

The trade off is that they cannot show you any homes listed with their company if you choose not to have 'dual agency' - which possibly could be the 'perfect' home for you and they couldn't show it to you.

Even if you did choose 'dual agency', your agent could still give you comps to see the value of similar homes before making an offer. Because of confidentiality, it would be extremely rare that either agent knew anything about the other agent's client.

So to put it linear fashion - ANY agent that signs an 'Exclusive Right to Represent Buyer' with you is an exclusive buyers' agent for that buyer. You can choose to have them 'not' show you any homes listed with their company 'no dual agency'. If you see one that 'is' listed with their company and you really want it, you can choose again for 'dual agency' or some other arrangement.

If you'd like to discuss it further, I'd be happy to talk to you.

If you like this answer or if it was useful to you, a quick click on the green 'thumbs up' would be appreciated.

Kim Eisen
"Helping People Make Smart Real Estate Decisions since 1980"
(651) 457-HOME (4663)

www.QuickHomesSearch.com
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0 votes 13 answers Share Flag
Mon Jul 22, 2013
Carolyn Jass answered:
Dear Michael,

There are no formulas. You will get for the house what someone feels it is worth today.

Sign up with a Realtor and have them do a CMA (Comparative Market Analysis- it compares the value of your home to others in the neighborhood that have recently sold). This price can vary a lot with the number of foreclosed homes, new improvements to the neighborhood, and so on. I have one seller, who is in a similar situation to your, but the light rail is coming through pretty close to his house and that might help. Contact the city and see if any improvements are coming your way.

Feel free to contact me and I will try to make this a painless as possible.

God bless you.

Carolyn Jass, Realtor
Twin Cities Real Estate, Equal Housing Opportunity
651-344-6226
carolynjass@live.com
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Mon Jul 22, 2013
Carolyn Jass answered:
Dear Amy,

Finding a good lender is key. If you belong to the teacher's credit union you might find some good loans through them. Check out a couple of lenders. The lenders can also tell you about various advantages currently available. I was a teacher for 7 years. God bless you for the work you do!

Feel free to contact me when you are ready to start looking!

Carolyn Jass, Realtor
Twin Cities Real Estate, Equal Housing Opportunity
651-344-6226
carolynjass@live.com
... more
0 votes 13 answers Share Flag
Mon Jul 22, 2013
Carolyn Jass answered:
I am a Realtor and I am available to help you find a house and teach you about the buying process. Most of the time my fees are paid for by the person who is selling the house, so it is a good idea to use a licensed Realtor like me to help you and look out for your best interests. Realtors are licensed by the State and must follow laws to help protect the client and must take continuing education classes so they stay current with the laws. Buying a house is usually the biggest purchase you will make, so it is great to have professional help.

I do a lot of teaching about the process and various options. Some buyers also like to attend a first time home buyer’s class. Usually getting pre-qualified for a loan is the first step. If a buyer has a good credit rating, he will pay lower interest. It can take a few months to correct problems with an incorrect credit report. If the buyer’s credit is low, there are steps he can take to improve it.

After the buyer is pre-approved for the loan, we talk about what kind of a house they want and where they want to live. I set up a search of the MLS (Multiple Listing Service – largest source of finding homes- used by Realtors) which will automatically notify you each day of houses you might want to see. If you want to see a house, I will set up an appointment to go see it and I will talk you through the house.

Feel free to contact me:

Carolyn Jass, Realtor
Twin Cities Real Estate, Equal Housing Opportunity
651-344-6226
carolynjass@live.com
... more
0 votes 1 answer Share Flag
Sun Jun 16, 2013
dance987 answered:
Are you still looking? Please check out 5711 Quincy Street, Mounds View, MN 55112
0 votes 4 answers Share Flag
Sun Jun 16, 2013
dance987 answered:
With a UD, my bank and my insurance company will require extra deposit. Are you willing to offer extra deposit? If so, please check the listing for 5711 Quincy Street, Mounds View, MN 55112 ... more
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Sun Jun 9, 2013
Kim Eisen answered:
Hi Mom - The first place to start is getting a market analysis so you know what the price range might be and additional info on how to get the best price. Then take that information and make a choice on what you want to do and where you want to go and when.

If you like this answer or if it was useful to you, a quick click on the green 'thumbs up' would be appreciated.

Kim Eisen
"Helping People Make Smart Real Estate Decisions since 1980 in the Twin Cities"
(651) 457-HOME (4663)

www.QuickHomesSearch.com
... more
0 votes 9 answers Share Flag
Sat Jun 1, 2013
Ryan Bretzel answered:
HUD homes are actually pretty cool because they are usually already appraised for a FHA loan. You need to know though if the home is insured or not insured when it comes to the type of financing you are using. Also HUD homes can be purchased for only $100 down! Some HUD homes can also be bought for 50% off if you are a community service related employee!

I'm not sure what a Housing Choice Voucher is but I'm sure a simple google search can reveal the answer.
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0 votes 2 answers Share Flag
Tue Apr 16, 2013
Russ Douville answered:
It is the ratio of your long term debt to your qualifying income.

In simple terms it is your monthly debts (credit cards, student loans, car loans, projected mortgage payments) divided by your gross (before taxes are taken out) monthly income.

Different loan programs will allow different debt ratios, but for simplicity 45% is a general upper limit.

For more detail on what counts or doesn't count as debt, and what counts or doesn't count as income, just ask your favorite mortgage lender.
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0 votes 7 answers Share Flag
Fri Apr 12, 2013
Joan Markgraf answered:
This is a rent to own, it is being offered to renters with an option to buy, but that have only a few minor credit problems to clear up. Joan Markgraf listing agent with Real Estate Masters, 651-731-8960 ... more
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Sat Mar 23, 2013
Susan Hofflander answered:
Hi, msred00!
I'm always amazed at the amount of answers that get posted. And, the LENGTH of some of them is pretty astounding!

I think it's a good idea for you to talk to a qualified lender to determine how this impacts your mortgage approval. But, from what I know to be true, your student loan is considered secured debt, so it's different from, say, credit card debt, so it's taken by the lender as "good" debt.

It will be taken in to consideration just like your other debt vs. your income to determine what they feel comfortable loaning you for a property purchase. Luckily, the mortgage industry has gone WAAAAYYYYY more conservative on their lending practices again. It's for everyone's good.

Good luck!
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0 votes 6 answers Share Flag
Sat Mar 2, 2013
Spirit Messingham answered:
I am a small business owner, we have our personal and two seperate business accounts with Wells Fargo. With that in mind, whenever I can I suggest to local lenders for my buyers to work with, not Wells Fargo. I have seen them too many times not take responsibility for a loan officers actions or in-action as the case may be. I would recommend to please consider shopping the loan around, talk with some local lenders and see if you can get a better deal.

Best of luck.

Spirit
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0 votes 4 answers Share Flag
Tue Feb 12, 2013
Claire Bastien Sales Associate answered:
Hello,

Title companies typically sell the same type of service to you, I would go to www.Title-1.com and use their Calcurator, it allows you to see what your title work would cost for 5-6 different companies.

You will get the names of other Title Companies, their pricing, and, you can call several to find out if their services differ in any way. Title searches are done on title to ensure that your title will be free of liens or defects, there are specific fees associated with everything they do and they are outlined in the estimate on the Calcurator. Then they assist you with recording with city/county/state agencies and the closing on your property.

They should be able to give you a breakdown of their services and their pricing but I typically take my clients to Title 1 because they are thorough, they are well priced and they have offices all over the metro area. You will also be able to purchase Title Insurance at closing should you wish, you can ask them about the fees for that and to what extent it covers your title in future.

Good luck with your Short Sale Investment. I hope you found this helpful.
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0 votes 13 answers Share Flag
Tue Feb 12, 2013
Claire Bastien Sales Associate answered:
Certainly there are still homes in foreclosure and there are some options available in that price range.
If you are looking at financing the home and putting some money into it many programs charge higher interest rates for investment property. Unless you planned to live in the property for the duration of the update and then flip it you may be restricted by some lending options.

Getting in without a down payment is unlikely, but you can get in for less with great credit scores.
Most lenders won't lend you less than $50,000 so you may need to get information from a few local lenders once you decide how to handle the purchase.

I would love to discuss the options you want, if your wife is willing to talk to an agent at this time.
My expertise is strictly with buyers, I'm an Exclusive Buyers Agent, I don't do listing and I have many mortgage lenders that offer specific deals intended to work to help first time homebuyers get into a property. However if you won't be living in the property it would be considered an investment and then the lenders change the rules.

If your wife is ammenable to a meeting she can contact me at claire@breg-tc.com for further information and we can go from there. By getting more information I could contact a few lenders and find out what your scenario would be to close. I'm happy to help you and answer questions.
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Thu Feb 7, 2013
Pader Yang answered:
Thank You all so much... I'm very very thankful for these answers to my question. My boyfriend is felon but he also has a stable job. I on the other is not a felon but currently enrolled in school at the moment. So thank you to all of these answers they're really helpful. ... more
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Wed Jan 30, 2013
Giahowell answered:
Go to the website called
HousingLink.org
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Sat Jan 5, 2013
Christopher Block answered:
Yea little confused myself usually property info requests are not in Market Conditions. ANyways, this property is a short sale and already has an offer on it. I think for the money though it is at a great price. I sold a home in New Brighton last year and know the area pretty well living in Vadnais Heights.

Good Luck Jimge let me know if you have any further questions!

~Chris
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Thu Dec 6, 2012
Ron Jensrud answered:
Capstone Homes www.Capstonehomes-mn.com

However, before your begin that process you should hire a Buyers Agent and becareful there are 2 types of Buyer Agents:

1) Exclusive Buyers Agents work in a brokerage that only represents home buyers, never sellers. They will be in your corner 100% of the time on ANY home you want to purchase.

2) Non-exclusive Buyer Agents work in a brokerage that also lists homes and represents sellers too. This buyers agent is only in your corner on home NOT listed by their brokerage. When they show you a home by their brokerage they are a Dual Agent. Dual Agent are limited on the services they can provide for you and may NOT advocate in your best interest.

For more information contact me.

Ron Jensrud
100% for Home Buyers - 100% of the Time!
... more
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