Kootenia Homes begins building in Argenta Hills

tayler_ 0125I am very excited to announce that I am partnering with Kootenia Homes as their sales representative in Argenta Hills, Inver Grove Heights.

Kootenia Homes has an outstanding reputation for building high quality and detailed craftsmanship homes.  It is an honor to represent their product.

Argenta Hills is an exciting new development for those who seek privacy and panoramic views.

kootenia logo 2

 

Argenta_9th8th7th_Addition_9 Kootenia

I will be posting more information as the construction begins on our 2015 Spring Preview Model, so stay tuned!

 

 

 

Minneapolis Case Shiller Index posts a 2.09% increase

2013 was a good year for home prices in the Minneapolis/St Paul market.  The Minneapolis Case Shiller Index posted a 8.62% increase from January 2013 to October 2013.  (The totals for the entire year won’t be available until February 2014).

October posted a 2.09% increase from September to October.

We are heading the right direction!

Since it is New Years Eve 2013.  I guess I need to make my prediction for 2014.  I expect the housing market in the Twin Cities to stabilize a bit.  Interests rates will nudge up slightly slowing some of the sales, Builders will continue to add more supply to housing market holding inventory at manageable levels which will hold pricing in line.

I don’t believe we have entered into another housing bubble, and don’t believe we will.  If you drew a trend-line from 1990 to about 2000, we are roughly where that trend line would be.

12312013 minneapolis case shiller

2013-01-01  126.88
2013-02-01  128.53
2013-03-01  129.55
2013-04-01  133.35
2013-05-01  132.91
2013-06-01  131.66
2013-07-01  130.76
2013-08-01  132.24
2013-09-01  133.41
2013-10-01  135.50
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2013 Minnesota Certificate of Rent Paid form (CRP)

2013 MN CRP

 

If you are a landlord and collecting rents, you will need to file a CRP form the Minnesota Department of Revenue.

If you own rental property and rent living space to other persons, you or your managing agent must issue a CRP to those persons if:
• property tax was payable in 2013 on the property; or
• you were not required to pay property tax, but you made payments in lieu of
property taxes.

This form is Due no later than January 31st 2014.

Get form here:

http://www.revenue.state.mn.us/Forms_and_Instructions/crp_ldin_13.pdf

 

Are You Prepared To Be A First Time Home Buyer?

OLYMPUS DIGITAL CAMERARight now is an exciting time to be in the market to purchase a home.  Not only are home values very reasonable but mortgage rates are near historic lows which means that right now is the most affordable time to get the most house for your dollar.

However, qualifying for a home loan is not as easy as it used to be since the housing market has crashed.  Mortgage lenders are asking for more documentation and higher credit standards before they are willing to lend you hundreds of thousands of dollars to purchase a home.

Industry experts recommend giving yourself plenty of time to prepare for purchasing a home, starting with your credit.  Your credit score is the number one determining factor to whether you will be approved or denied a home loan.

The two biggest problems I see with first time home buyers credit is that 90 percent of the credit reports have misreporting information and high balances on revolving credit.  Both of these problems can be fixed pretty easily and depending on your situation and available cash, can be resolved in as little as a week.

Did you know that your credit card balances make up 30 percent of your credit score?  If you were able to drop the limit to what you owe on your credit cards to 30 percent of the available limit or less you could see a significant increase in your credit score and you will be able to qualify for better rates and terms on the purchase of a home.

Once your credit is under control you should obtain a pre-approval letter from a reputable mortgage lender before you begin to drive all around town looking at homes.  In order to obtain a pre-approval letter, your lender will need to verify your credit, income and assets to determine exactly what you qualify for.

When your lender hands you that pre-approval letter, you are now considered a cash buyer and are able to freely submit an offer on any home that fits into your qualifications.

Guest blog provided by:
Jeremy Redlinger (NMLS #627335)

Midwest Mortgage Capital

10900 73rd Ave N #150
Maple Grove, MN 55369
(763)957-0858

photo credit: House of Joy Photos via photopin cc

Minneapolis Case Shiller Index posts 1.8% monthly gain

The Case Shiller Index for Minneapolis / St Paul posted a 1.8% gain from July to August.   This brings the total to 10.2% price increase for the area since the first of the year.  Quite remarkable to see double digit price increases!

This is great news for many homeowners in the Twin Cities who were “under water” on their mortgages.  As the prices increase, the underwater homeowners will be able sell.   This will add more supply to the market, slowing the market and price increases down a bit.  PERHAPS, We may see a Balanced Market!   (I am beginning to believe a Balanced Real Estate Market is like a mythical unicorn…)

It would be fun if this index could equate directly to every home in Minneapolis/St Paul – but there are many more market dynamics that take place from location, housing style, and condition that determine the value.   It is still a great barometer and fun to monitor.

(Seasonally Adjusted figures: Minneapolis posted a 1.0% gain from July to August.  Charts below are Seasonally Adjusted.)

10292013 Minneapolis Case Shiller Index

  • 2013-01-01 126.84
  • 2013-02-01 128.66
  • 2013-03-01 129.90
  • 2013-04-01 133.62
  • 2013-05-01 133.04
  • 2013-06-01 131.65
  • 2013-07-01 130.62
  • 2013-08-01 131.98

Minneapolis vs Composite 20

10292013 Minneapolis Case Shiller Index vs composite 20

 

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Replace you thermostat batteries!

Just a quick reminder to change your batteries in your thermostat.  You don’t want your heat to go out during the cold winter months ahead!

This mindless task fooled me once, but not this year…  I was reminded because it happened yesterday to someone else I know…  So I thought I would share the reminder.

thermostat

Do you remember the old fashioned thermostats with the mercury switch?  No batteries required.  Maybe those aren’t such a bad idea…

 

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