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55431 : Real Estate Advice

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  • Local Info2
  • Home Buying1
  • Home Selling1
  • Market Conditions1

Activity 482
Wed Oct 24, 2012
Cameron Piper answered:
crystlwhtny25,

There is no harm in shopping around, but your ability to change may depend on what you have signed and any money that you have spent. What are the issues you are facing that causes you to want to strangle your LO?

Cameron Piper
Coldwell Banker Burnet
licensed MN Real Estate Broker
... more
0 votes 6 answers Share Flag
Mon Oct 29, 2012
Shantelle Odegard answered:
$200 Assoc Fee Frequency: Monthly Assoc Fee Includes: Snow/Lawn Care, Outside Maintenance, Hazard Insurance, Building Exterior, Professional Mgmt

This home has an offer on it that has been signed by the seller and is waiting for the current lender to approve a short sale. I have other similar properties available, check them out at www.shansells.com ... more
0 votes 7 answers Share Flag
Wed Dec 5, 2012
Cameron Piper answered:
Markie,

The last thing that you want to hear right now is that what you are experiencing is normal, but it is. As frustrated as you may be, things happen in real estate and there is always plenty of blame to go around. Any one real estate transaction is so incredibly complicated that it takes a certain level of flexibility in order to persevere. The good news is that in five years you won't even remember the details of what is happening right now. The bad news is, is that it looks like you are going to have to wait for a few more days.

As far as getting your appraisal money back, I'm sure it is possible, but unlikely to be worth the work involved. In the end I've never seen it work. Patience friend, you're almost there.

Cameron Piper
Coldwell Banker Burnet
licensed MN Real Estate Broker
... more
0 votes 8 answers Share Flag
Thu Dec 6, 2012
Thomas Drayton answered:
Sorry, I don't see anything in that area currently listed on MLS. The closest property is 5428 Columbus Avenue, listed at $229,000.

I would be happy to setup a custom MLS search for you that would email you results daily that fit your criteria! Send me an email with details regarding what you're looking for and I will take care of it for you.

Thomas Drayton,
tdrayton@kw.com
... more
0 votes 1 answer Share Flag
Tue Oct 9, 2012
Matthew Peterson answered:
You could also look at HUD properties which in many cases are already appraised to be sold with FHA financing. In some cases you don't even need to use an FHA 203K loan. If the repairs are estimated under like $5,000 you can just escro for repairs given you are working with the right lender. Search HUD homes at www.hudhomestore.com ... this is a government website, not a personal promotion for my own website. ... more
0 votes 3 answers Share Flag
Mon Dec 24, 2012
Mike Kelcher answered:
Good Question! The short answer is "yes". For starters, let's forget about crime statistics, and look at North Mpls. in terms of whether or not the homes there represent a good value, generally. The answer to that is... "yes". in a general sense, the cost per finished square foot of homes for sale in North Mpls. is about the lowest you'll find anywhere in the Metro area. So, you get a whole lotta house for your buck! Additionally a lot of money is being spent to re-vitalize that area. There's low interest loans, there's special rehab loans, there's grants, there's deals on HUD homes...(especially if you happen to be employed in the areas of law enforcement, education, or health care, or if you happen to be a fireman).

I see that you are in St. Paul. I lived in St. Paul for the first 25 years of my life. I remember going through the Selby-Dale-Western area and being very afraid. There were violent crimes in that area in the 50's, 60's, and 70's....then, it got re-vitalized with the same types of loans, grants, and special programs that North Mpls. has today. Today the Selby-Dale-Western area is quite nice and you won't find anything nearly as cheap as it once was. North Mpls. properties could very well provide a very good return on investment.

The homes in North Minneapolis are often very nice homes! Many are larger that you'll find most places. There's an abundance of two-story homes and most were built during an era of sturdy construction techniques. Most of the homes will likely still be standing a century from now. The style of the homes generally is such that they have "character" which appeals to many people as opposed to more modern "cookie cutter" suburban homes.

I always tell my buyer clients to look at the neighborhood because no matter what they do to the house, they can't change the neighborhood. While that's true, the City, the State, the Federal Government and other entities with deep pockets, can. Right now though, the North Mpls area has a lot to offer. It's INSIDE the 494/694 "beltway"....making it centrally located in the greater metro area and very convenient to nearly any metro destination. It has established schools, places of worship, an established business community, parks, playgrounds, etc.

In the end, you are the one that gets to decide where you want to live. You need to base you decision on the things that matter most, TO YOU. You may not like North Oaks, you may love Brooklyn Center, you might like Blaine but not Coon Rapids. These likes or dislikes are personal decisions but I wouldn't rule anyplace out until YOU are sure it should be. Everywhere is going to have "advantages" and "disadvantages" in YOUR mind. That's all that matters. YOU decide...don't ask others whether or not THEY think you should or should not choose a particular place to live. I'd start by keeping an open mind to anywhere that makes reasonable sense to you.

If you are unsure about a particular neighborhood, go to a park and talk to the people who live there. Ask 'em what they like and what they dislike about living there. Look at homes in many areas and when you find the right home, it' won't let you quit thinking about it.

If you would like my (no cost to you) help, guidance, advice, and representation, just contact me.
... more
0 votes 13 answers Share Flag
Tue Dec 11, 2012
Ben Johnson answered:
I recently used Local Motion for my own move and was very happy with the service they provide.
0 votes 6 answers Share Flag
Sun Dec 23, 2012
Mike Kelcher answered:
You could have 20 mortgages and 20 HELOC loans and still qualify for a fixed, 30-year mortgage with 20% down....or...you could have no mortgage and 50% down and still be disqualified by every lender you talk to. There's are many, many other things that lenders take into consideration.

Your employment, time on that job or a similar one, your earnings, your income-to-debt ratio, your credit score, your credit history, the property you wish to purchase, what type of property it is, the appraised value of that property, the neighborhood that property is located in, etc., etc. etc. All of those things and a lot more, is taken into consideration by very cautious underwriters.

You'll never know for sure until you talk to someone who lends money. Some lenders are better than others when it comes to non owner occupied properties and investment properties. For some lenders, it's their "niche", and for others, it's not.

My suggestion is that you let an experienced real estate agent guide you toward a few lenders who may be able to answer this, and all of your other loan-related questions. I can introduce you to a couple of very good and very experienced mortgage advisers who can review your situation, explain to you your loan options, help find a loan program that meets your needs, make suggestions, etc.

Call me. Click my ugly picture to get my contact info.
... more
0 votes 5 answers Share Flag
Wed Oct 10, 2012
Scott Graham answered:
We post all of ours on CraigsList. The only place we have available right now is a beautiful 1BR condo on Lowry Hill for $1350. Underground parking, recently remodeled, hardwood floors throughout and an elevator building. 3rd floor in a 4 floor building.

Scott Graham
Uptown Management
612-597-7778
... more
0 votes 2 answers Share Flag
Sun Dec 30, 2012
Mary Jo Quay answered:
Rents are rising because of demand. All the families experiencing short sale and foreclosure have to find new homes. Some people live with family or friends for a time, but eventually they want their own space. 2-3 years after a short sale, depending on credit, people who went through short sale can purchase again with an FHA loan. The same goes for bankruptcy.

We also have to consider that there is a pent up demand for housing. We are far below the averages for new construction, and Gen Y is beginning to enter the first time buyer market. However, the economic lessons of the recession have taught them that debt is a four letter word, and job security is uncertain. No one is singing, "Take This Job and Shove It." Everyone is rethinking their economic futures.

The vacancy rate in the Twin Cities is under 2%, and rents are higher than they were a year ago.
High rents, low interest rates, and affordable prices will drive the pendulum towards purchasing.
I don't believe that we need to worry about a rental collapse with 9% unemployment, and close to 20% under employment. The job market determines who can buy.

Investors are looking for properties for cash flow. During the boom many multiple family properties were upside down, and investors hoped that appreciation would catch them up. it didn't. Properties bought at this time, at lower price points have cash flow, and can be sold for a profit down the line.
The economy is still a long haul away from a rebound. The housing market has improved, but it is doubtful that droves of people will be leaving their rental homes in droves for quite awhile.
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0 votes 9 answers Share Flag
Sun Oct 14, 2012
Elizabeth Fuller answered:
Sam, you need a good real estate representative - maybe even me! I would be able to help you assess what you need to do to bring up your credit score in the shortest possible time. Give me a call or send an email to me and let's get started! Liz, 612-986-4105 ... more
0 votes 17 answers Share Flag
Fri Aug 2, 2013
Anna M Brocco answered:
When it comes to any safety/crime related issues, it's always best to contact the local police department with all your questions, hear all there is to hear firsthand. If unfamiliar with the area(s) do revisit more than once and at different times of day, possibly chat with locals/neighbors. Real estate professionals are prohibited from steering, enticing a buyer to purchase/rent, or not, in specific neighborhoods.
http://www.neighborhoodscout.com/
https://www.crimereports.com/
http://www.homefair.com/
... more
0 votes 5 answers Share Flag
Sun Oct 16, 2016
Tim Moore answered:
Unless your laws are different up there, there is an old saying in real estate. It takes one to list and two to sell. Meaning one party can sign to list it and both need to sign to sell it. Both signatures are best but one is all we need here to list it. With Docusign electronic signature software a buyer or seller can be anywhere and sign documents on their cell phone so I use it all the time. Tell your agent to get up-to-date and get Docusign. ... more
0 votes 15 answers Share Flag
Tue Nov 26, 2013
Mark Claessens e-Pro NHSS answered:
I do believe it is Pink. I am not an attorney, nor expert, but I am involved with this area of real estate as a tenant representative and also as a property manager. If the place you are talking about has less than 12 units, they are not required by law to have a written lease agreement. And a verbal agreement will hold up in court easily enough. So if someone made a verbal commitment to rent you a room - let's say in a large house - for $450 a month....and then backed out or changed the rent on you......I believe they have an issue with you.

Two things for you, Pink.

One, here is a link to the Minnesota statute that governs all of this: https://www.revisor.mn.gov/statutes/?id=504B

Two, if you want to jump on my website below and shoot me a quick email, I will send you a copy of the booklet put out by the Minnesotat Attorney General's office called "Landlords and Tenants: Rights and Responsibilities".

I hope this helps you,

Mark
... more
0 votes 6 answers Share Flag
Fri Aug 17, 2012
Matt Brown answered:
The same thing happened to me when one of my listings expired and I re-listed it. I could not re-enter it manually but it did show up on Trulia a few days later.

Hope that helps, good luck! ... more
0 votes 1 answer Share Flag
Tue Apr 25, 2017
Joe Houghton answered:
I have a lot of experience with Lennar homes in Minnesota and know the Martin Farms development well. I can't stress enough to make sure you let them know you are working with a realtor and make certain to get a realtor with a reputation you can trust and rely on to help negotiate the best price, terms and selections. I am happy to discuss this further with you at your convenience. Give a call anytime. My number is in my profile here on Trulia. ... more
0 votes 17 answers Share Flag
Mon Oct 15, 2012
Scott Graham answered:
It should have been deposited within 3 days of your tendering it to the listing agent. If it has not been cashed you could always keep quiet and see if it never comes up. If that grates against your values call your realtor and make him/her aware of it. ... more
0 votes 10 answers Share Flag
Thu Aug 9, 2012
Phil Rotondo answered:
You should interview different real estate agents to compare cost and terms.
0 votes 15 answers Share Flag
Fri Jul 20, 2012
Christopher Block answered:
It is going to be bout $450/bedroom in Coon Rapids for single family homes.

Good Luck! let me know if you have anymore questions by contacting me directly on Trulia

~Chris
0 votes 1 answer Share Flag
Thu Jul 19, 2012
Shanna Rogers answered:
Hi ScottDL,

2-3 years is the average.

Shanna Rogers
SR Realty
www.RealtyBySR.com
0 votes 2 answers Share Flag
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