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Dakota County : Real Estate Advice

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  • Home Buying3
  • Home Selling0
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Activity 156
Sat May 12, 2012
Bill Wallace answered:
Hi,

According to the Minneapolis Association of Realtors the average time on market in Eagan is 148 days. You can find their latest report on Eagan here - http://www.mplsrealtor.com/downloads/lmu/Eagan.pdf

Now one thing I can tell you is that reports like this are somewhat flawed because they include short sales which look like they are active for a long time while bank negotiations are taking place. The Average Days on Market can also vary widely based on price range and style of home (townhouse, condo vs single family).

I'd be happy to run a more specific report for you showing homes in your exact price range to give you a more detailed look at similar homes and what to expect. The market is actually pretty strong right now since there are 28% fewer listings on the market this year compared to last. Homes that are priced right and show nicely are selling quickly - quite often in less than 30 days.

Bill Wallace
RE/MAX Results - Apple Valley
651-338-0355
... more
0 votes 4 answers Share Flag
Mon Jan 27, 2014
Kris Lindahl Team answered:
If it is listed as a short sale you can. It doesn't turn into a bank owned property until the redemption period expires. Email me the address and I'll look into what bank will be taking it over. I have contacts at most banks and may be able to help!

Talk to you soon!

Kris Lindahl, CRS, CDPE, SFR
Edina Realty
763.607.1415
krislindahl@edinarealty.com
... more
0 votes 7 answers Share Flag
Thu Apr 26, 2012
Llmc55 asked:
Wed Dec 11, 2013
Kirk Duckwall answered:
I am sure it would help it sell faster but I would ask your agent if it will help add value.

Kirk Duckwall
The Duckwall Team Of Realtors
Edina Realty
651-303-0019
kirkduckwall@edinarealty.com
www.DuckwallTeam.com
... more
0 votes 13 answers Share Flag
Thu Mar 15, 2012
Michael Emery answered:
Depending on your income limits, you might be eligible for down payment assistance. There tends to me more programs within Minneapolis and Saint Paul, but there are programs for suburban areas too. See link below. ... more
0 votes 4 answers Share Flag
Sat Aug 17, 2013
Alain Picard answered:
I would just call some local real estate agencys and property management companies and ask about their prices for what you need. See who you like and go with them.
0 votes 2 answers Share Flag
Sun Feb 19, 2012
Don Tepper answered:
Check with a Realtor. Without an address, though, it's impossible to say.

Check Rentometer.com-- http://www.rentometer.com . You may be pushing the limit, according to that site.

Again, though, check with a Realtor.
... more
0 votes 6 answers Share Flag
Mon Dec 10, 2012
Thomas Drayton answered:
The quick and easy answer Manpat777 is "yes", you will.

If the owner is in redemption then they must pay the mortgage in full before redemption expires to regain possession of the property. I don't think that is likely to happen.

Thomas Drayton,
www.tdrayton.com
Eagan, MN
... more
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Mon Jan 27, 2014
Elizabeth Fuller answered:
Mobile homes are often sold as part of a vacation retreat, sometimes they are sold within a certain mobile home park or area, with or without a land lease. They are infrequently listed on MLS unless they are on a separate lot or acreage and considered a manufactured home, allowed through zoning requirements. The commissions on this type of property would vary. Unless the home is attached to the ground, on a separate lot, it would often be subject to non-mortgage financing. Usually the mobile home is considered chattel property, not residential and would be financed more like an automobile. Remember, real estate commissions are negotiable by MN state law. If this is an MLS listed property, the commission would be identified in the published listing. IF it is made available for sale in some other way, I would not be able to ascertain the kind of listing or selling arrangements would be customary. I have sold vacation or rural property where a manufactured home was attached to the property. These were considered a home and usually would have a usual and customary commission published showing the rate or percentage available to the selling agent, the broker, and any other pertinent information. I did a quick search and did not find enough current or recent listings of property to show any commission rate change. ... more
0 votes 2 answers Share Flag
Mon Jan 27, 2014
Keith and Sheila Hittner answered:
You will need to qualify for a new loan. If you made a profit on your sale you will have some tax consequence but you may then you may also qualify for a different loan product that is better for you.

You mentioned that the property was listed. Your agent should be able to answer all of your questions.

Keith Hittner
CBBurnet
... more
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Thu Oct 24, 2013
Lenny Frolov answered:
I believe the state requirement for CO detectors are that they be within 10 feet of any sleeping rooms on single family dwelings.
0 votes 6 answers Share Flag
Tue Nov 15, 2011
Annette Levinson answered:
It is not only your income but also your monthly bills. You need to speak with a mortgage officer that can run your credit and go over numbers with you.
0 votes 8 answers Share Flag
Mon Jan 27, 2014
Aaron Dickinson answered:
There is no specific answer because it is very case by case dependent. In many cases I've seen, the practical answer is whatever it takes to install waterproofing (drain tiling, rubber membranes, etc) and repair damaged finishes. Many houses have had water damage in the past... it is how you deal with it that makes the difference. ... more
0 votes 5 answers Share Flag
Tue Dec 3, 2013
Bill Wallace answered:
Hi Damon,

Prairie Lakes is a large development and there's the potential for multiple different management companies in for the townhouses on Lafayette vs. the ones in the Kerrville area. The properties on Kerrville Trail are managed by Community Development - 763-225-6400.

Let me know if I can assist in any other way.

Bill Wallace
RE/MAX Results
651-338-0355
... more
0 votes 2 answers Share Flag
Wed Oct 26, 2011
Michael Emery answered:
I assume this is a bank owned property. The listing Realtor is responsible for pricing the property, noting condition, and presenting offers to the asset manager. The presumption is the home has been priced with the condition of the home in mind.

If the property has been listed for 30 days, chances are they will reduce maybe 10 percent unless you can present a compelling case to the listing agent as to why the property isn't worth it. But chances are the listing agent believes they have properly priced the property with condition in mind.
... more
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Sun Nov 13, 2011
Michael Emery answered:
Once the sheriffs sale has occurred, Minnesota law allows for a six month redemption period. So technically you will own the home for six months after the sheriffs sale.

There are two ways to speed up the process. One is deed in lieu. The 2nd is a little used state statute that allows lenders to seize a property within five weeks after the sale. This requires a visit to a judge and proof of abandonment AND proof that the property is in danger of damage due to abandonment.

So no, everything won't be taken care of by the sheriffs sale. Continue to press the lender for a deed in lieu so you won't be stuck with your home for another six months.
... more
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Wed Sep 7, 2011
Cameron Piper answered:
Bonnie,

Start calling some banks and ask to speak with their loss mitigation departments. I would focus on small local banks and work on building relationships with a select few asset managers and see if you can't get some business that way. Most real estate agents with REO contracts are unwilling to burden their asset managers with additional phone calls so they are very reluctant to give out their phone numbers. Good Luck!!

Cameron Piper
licensed MN Broker
Coldwell Banker Burnet
... more
0 votes 2 answers Share Flag
Wed Oct 26, 2011
Joe Scherer answered:
All things being equal you have a much better chance at 95% of asking price. The recent price reduction should not play too big of a role.
0 votes 6 answers Share Flag
Sun Feb 17, 2013
Anna M Brocco answered:
Your agent can better advise; keep in mind that short sales are by no means fast sales, no matter the method of payment, therefore much patience is needed; some lenders are quicker than others, and much will also depend on the number of liens attached to the property.... ... more
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Thu May 5, 2011
Cameron Piper answered:
Some of these folks might be able to help:

http://shortsalesuperstars.com/group/chase

Cameron Piper
Coldwell Banker Burnet
licensed in MN
0 votes 1 answer Share Flag
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