Tuesday, February 26, 2013

Eden Prairie Homes for Sale & Where to Find Them!

Looking for Eden Prairie, MN Homes for Sale? http://greatminnesotarealestate.com/ CLICK HERE for a short message about how (and where) to search for Eden Prairie properties that are currently on the market here in Minnesota.


Posted by Alex in 09:41:40 | Permalink | Comments Off

Thursday, September 6, 2012

Minnesota Real Estate Listings: How to Find MN Real Estate Listings Online

Minnesota Real Estate Listings: http://greatminnesotarealestate.com
How to Find MN Real Estate Listings Using the Minnesota “Brokers Reciprocity” Search Tools. Call Me Directly at 612-644-5380 for More Info or to See a Property in Person!

Posted by Alex in 13:20:35 | Permalink | Comments Off

Wednesday, April 25, 2012

Home Buying Tips – Working With A Sub-Agent

A lot of  MN first-time homebuyers end up working with a sub-agent otherwise known as a seller’s agent and it is important to know that these real estate agents work for the seller, not the home buyer. Seller’s agents are hired to work for the vendor and convince the buyer to the offer, however these people do work on a commission fee with specific rights as well as duties towards the buyer.

Regulations vary from state to state, but there are specific things they can’t do based on federal law. The author of ’100 Questions Every Home Buyer Should Ask’ encourages all buyers to review the agent’s forms and disclosures carefully to know what kinds of services they’ll be providing; if you do not understand anything, do not put your signature on the form. It is also essential to understand the key things that a seller’s broker can and can’t do for you:

The sub-agent can give you detailed pricing listings of similar houses in the area. These are often called ‘comps’ and are a collection of comparable houses in the neighborhood, listing information and their list prices. This information ensures that you are not providing, or being given, an irrational rate when it’s time for you to make a deal.

The seller’s agent can’t tell you which house to select if you are still choosing. Though it is the sub-agent’s task to sell the house they’re commissioned to sell, they don’t have the right to ‘push’ their home over another in question. If you want 2 homes and the real estate agent is performing with the two vendors, they can’t persuade you to buy one over the other house; the decision is definitely yours to make.

The sub-agent can’t point out flaws of the MN home. The seller’s agent can’t mention anything that would affect your final decision to purchase, or not purchase, the home. Any specific material concealed defects can be disclosed, but you will need to conduct a research to check if the house is within good shape.

The seller’s agent can’t give suggestions on the ideal deal for the house. It can be tempting to ask the vendor how much you must pay for the home, however they can not lawfully offer you this information at any time during your conversations. The sub-agent has certain obligations to the vendor, so this information may possibly hinder on their working relationship.

The seller’s agent may ask for referrals. Many seller’s agents are private entrepreneurs and always looking for new customers. They have a right to ask you to recommend them to your family members or friends, and they will do everything they can to make your homebuying experience a great one.

When you are working with a seller’s agent as a first-time buyer, it’s important to remember that they’re in this business to help make the house buying process relatively easy. This does not always indicate that they have your own interests in mind, so it’s essential to conduct your research on the property and also hire a professional realtor in addition to the sub-agent.

Posted by Alex in 11:16:22 | Permalink | Comments Off

Monday, April 2, 2012

Important Factors To Take Note Prior To Purchasing A House

Buying a MN property is a major life time commitment. Even though for most people, it’s really a very demanding time as in addition to searching for the right type of your own home, it involves undertaking a remarkably huge financial transaction. However, the excitement of ultimately acquiring a Minnesota house could be exciting and also fulfilling in several ways. Regardless of whether you are looking for a newly-built residential house or perhaps a re-sale house, negotiating for the fair price depending on the specific location and your budget is very important.

Compute Your Credit Score and Plan a Financial Budget

A substantial credit standing will better your odds for increasing funding through banks and loan providers in favourable rates. As a rule, many lenders grant credit seekers who’ve a credit score of about 650 and up. Determining a budget to buy a property is dependent upon your own income and or your other half’s salary or both your combined incomes. Additional circumstances that can influence your financial budget would be the current equity upon your existing home (if you have 1), the actual deposit to your mortgage (when you need one) and also any kind of outstanding debts that you might hold.

Define Your Goals

When buying a MN home, it is recommended to make reasonable targets. Remember what you end up buying is determined by what you may handle to spend. Make an effort to find residential houses which were sold in the region of your desire to see just how much these people went for. This can provide you with a good knowledge of the different home styles and sizes you can afford. Additionally prior to choosing a home, make sure you check with the local community zoning board to discover exactly what the area around your premises happens to be zoned for. This can often increase the price of your home or devalue it.

A Re-Sale House Vs New Construction House

The benefit of selecting a cutting edge building house is that you could customize and personalize your home in accordance with your needs. Whether or not you desire an eco-friendly property or even like your property installed with the newest technological gadgets, you can do this with a newly-built house. You may of course firstly have to ascertain the trustworthiness and reputation of the contractor.Re-sale properties on the other hand give the client a choice of increasing the value of the property through reconstruction as well as decoration. A lot of period properties and particular model homes have a history that might serve as its Unique Selling Position in the near future.


Prior to buying a MN home or even house, give yourself enough time to plan as well as consider the numerous possibilities to you. Make a list of real estate professionals that can support you in finding property and houses in the region of your interest. Additional options comprise of finding out about home articles on town’s magazines, performing a research on the internet with regard to properties available for sale or even calling building agencies and contractors regarding information on unique homes to be designed in the area. A significant element in sealing a great deal would be to have a seller feel that you have got other choices and real estate providers out there. This is often one of many ways of getting sure that the seller stays open for discussions.

Posted by Alex in 15:54:56 | Permalink | Comments Off

Friday, June 10, 2011

Home Buying Ideas – Computing Your Reservation Cost

One of the most essential components of home buying process includes making the perfect offer for your house. Experts encourage all home buyers to take the time to research prices in the area and make their own reservation cost, or the highest price they are able to invest for the Minnesota home. A reservation price will help you to bid more efficiently and stay within your budget, making it easier to negotiate with the seller or seller’s broker when it comes to making a deal.

Barron’s ‘Smart Consumer Guide to Home Buying’ explains that it is normal for buyers to cut the price of their offering price to allow some negotiating room when making the offer; there is no rule regarding how much the discount needs to be, however it will depend largely on economy conditions and just how much you really like the home.

Below is a simple process for determining the reservation price so you can get the right price for your dream house:

1. Write down the amount you can afford to pay each month. This is often close to what you’re paying now, or what you are comfortably willing to pay per month on property fees.

2. Calculate your tax and insurance costs. Barron’s ‘Smart Consumer Guide to Home Buying’ offers the following suggestions for calculating the tax as well as insurance costs. Make use of a factor of .68 for areas with high taxes and insurance costs; .85 if tax and insurance is relatively inexpensive; or use the standard .75 for a rough estimate. Multiplying this rate by the amount in Step 1 will give you the reasonable loan P&I payment.

3. Calculate your typical loan term as well as interest rate. Jot down the mortgage term in years and the interest rate. You’ll need to locate the appropriate charge from the loan payment tables that are relevant to this loan term and interest fee.

4. Calculate your total loan amount. This will also be seen from the loan payment tables; you may also get it from a mortgage company.

5. Include your cash available for the down payment. This will provide you with an overall sum of the amount you can afford to pay for the home.

Right after finishing the computation in Step 5, you can compare it with Step 1 to see what the difference are. This can give you your negotiating range which you can use when making a offer. When the amount in Step 1 is more than Step 5, you may be able to secure a deal be means of bidding a much higher price than the seller is offering. However if the amount from Step 1 is lower than Step 5, you will need to focus on bringing the final price down to a more affordable range.

Calculating your reservation price is an important part of homebuying process and can help you negotiate the best possible deal for your situation and get the house you always wanted. Consider using the above calculations for each home you’re considering so that you have the confidence to overbid or even make a deal for a lower price with your budget in mind.

Posted by Alex in 21:34:33 | Permalink | Comments Off

Tuesday, May 10, 2011

Guidelines On Getting Your Very First Property At The Most Suitable Market Conditions

The economic conditions, interest costs along with current market pattern all of these carry out a role on the final amount of your own perfect home, yet it is never that easy to know when today is a good time to be a house owner. Minnesota First-time house buyers are normally anxious about getting into the homebuying market since they honestly can’t tell the difference between a buyer’s market and a seller’s market.

For a buyer’s market, housing price levels are relatively beautiful and also rates could be less than the typical. You may even find an increased number of ‘For Sale’ boards in a variety of areas moreover marketers could be willing to cut back their prices considerably in order to sell the home.

In a vendor’s market, it may be quite challenging to find attractive rates concerning residences. You could read about lotteries that enable selected clients to actually invest in distinctive households, along with the housing business could possibly be at ‘crisis’ mode.

In case you’re a newbie home buyer, catching the best market period can make a important distinction in the total price you spend along with the cost you get out of your purchase. The book Barron’s Smart Consumer Guides points out that the “cycle phases are much easier to pinpoint long after the fact.” On the other hand, “if you know what to look for, it’s easier to figure out the state of the market.” Think about these added critical clues to gain the ideal determination when it comes to investing in a home:

At a shopper’s market, you can expect to see: numerous ‘For Sale’ symbols throughout the town; various discounts regarding repossessed residences and major special discounts on formerly high-priced houses and real estates; sellers offering concessions and also rewards to draw in good clients; a fast ascending amount of house foreclosures; many value cutbacks as well as lower-than-average costs on good quality residences.

For a seller’s market, you may find: only a few ‘For Sale’ boards about the street; rather increased rates and also ambitious advertising strategies within the very same neighborhood; individuals ‘turning’ homes where they buy a property and modernize it to sell them within a short time; press reports which specify down just how impractical it will be to acquire a house; plenty of leasing complexes to be transformed into condominiums.

Obviously, the best opportunity for being a home-owner can be within a purchaser’s market while home sellers are eager to offer their properties at their very own published selling price or offer discounts for an easy transaction. You really are able to rise to the home-buying market with a lot more certainty when ever properties are going to be publicized together with drastic cost cuts as well as giving you extra incentives to make a package. However, it is still important to work with a skilled agent to get the best residence that corresponds your style – specifically if you might be a first-time home owner.

Buying your own first house can be difficult and you’re likely to possess a great deal of questions about the full procedure. Educating yourself regarding the industry, seeking information involving positive market issues and working having a skilled can help you get started on your hunt and also present you with all the ideal possibilities in your community of choice.

Posted by Alex in 07:08:19 | Permalink | Comments Off

Friday, March 25, 2011

First Time Residence Shoppers: Things A Person Need To Understand Regarding The Acquiring Procedure

Getting a Minnesota home the very first time happens to be an exciting encounter. This may also fill an individual by using hang-ups regarding your option in case you are unaware of the particular purchasing method. Even so, arming your own self with the help of info on important concerns certain raising budget, understanding your credit report and also exactly where and the simplest way to start with your quest within other matters can save you loads of trouble. It will also give you a chance to understand your unique needs and the way ideal to fit those expectations when you go purchasing your own best home. The next tips can assist you prepare the actual purchasing process on your number one property.

More Expenses Associated With A Home Finance Loan

When you are entering into a contract for the charge for home finance loan to get a home, most first time home shoppers ignore to consider extra fees such as property taxes and also insurance plus repairs and maintenance charges that happens to be that comes along with the home finance loan. Moving ahead when using the contract with no familiarity with all these extra costs needed may come as a shock for most newbie buyers. This may bring up many financial troubles, and most households result in extending their own financial resources in order to have the monthly payments. This is also one of the reasons which can lead to buyers missing out on making their own mortgage payments on-time.

Understand Your Credit Report

Financial institutions and banking institutions look at the credit score with the borrower prior to approving the individuals for the home loan.The particular interest charges for the mortgage tend to be once again depending on the performance of your credit history. Even after getting authorized for a mortgage loan, you could possibly end up having to pay excessive interest rates. An understanding plus awareness of your credit score places you within a much better position to find out the actual process of getting approved for a mortgage loan.

Getting The Ideal Home

Newbie buyers almost always get carried away into making a purchase even though the place is far from their very own price range. Often your wait for the ideal residence could be stressful. On the other hand, over time, little or nothing hurts over the poor financial decision! An ideal house should not only match your own requirements but will also match the price range. In case you are undecided where to search for a house, enlist the help of area MN real estate brokers. They can provide you with information about the neighbourhood, educational facilities, and other amenities which can be beneficial if you are searching in order to make an informed decision.

Negotiating A Option

A negotiating process is a vital element of buying a property for both sides involved. The seller fixes a cost when considering numerous factors. While maximum revenue is the top goal, the majority of home sellers are usually ready to accept negotiations on terms. If you like a home, you shouldn’t be afraid to be able to settle for it. It might take a few counter presents, and several wait before getting to be able to secure the offer. However, at the end of these, the best home along with a financially seem provide are usually really worth wait a little.

Posted by Alex in 14:05:46 | Permalink | Comments Off

Tuesday, August 10, 2010

Buying A Lot As A First Time Home Buyer

If you’re building your home as a MN first time homebuyer, the first important step is to find the lot. Just like buying the home, there are certain things you need to look for when searching for the ideal plot of land. In addition the lot’s location, you will need to consider the types and styles of properties on other lots in the area, the number of trees and water features around the area, accessibility to power, and a number of other important amenities.

The author of “Tips and Traps When Buying a Home”, Robert Irwin, recommends using a checklist when searching for a lot as a first time home buyer to avoid missing any critical details. Here are some essential tips that you can use to help you find the right property to build on:

1. Map out nearby cities and towns. If your lot is located in a rural area, find out how far the nearest cities and towns are. This will help you decide if a commute from your future home will be worth it, and what your lifestyle might be like if you have to travel to the city on a regular basis.

2. Review natural features. How many trees are in and around the lot? Do you have access to a lake? How far is it from your new home? Many first time homebuyers overlook these important details when they have found what looks to be like their ideal lot. However, building a house that is very close to a lake or a forest means you may need to deal with wildlife and flooding during certain times of the year.

3. Find out where the water source is. When you live in a city or urban area, you typically don’t consider where the water is going to come from. When you are building a home on new land – especially in the countryside – you may need to work with a private water company and find ways to irrigate your gardens and land.

4. Check the soil quality. Determining the quality of the soil on your lot is an important factor when building your new home because you need to work on soil that will accommodate for a solid foundation. You can hire a professional to inspect the soil if you are unsure of what to look for.

5. Review building options. If you are located near a national forest, a wildlife preserve or other major landmark, there may be restrictions on what you are allowed to build in the area, and how much you can renovate or remodel. Make sure you understand all of these restrictions (if any) so you’re not investing in something you might regret later.

Aside from the physical features of the property, buyers should check the land title. Make sure that the title of the property is clear and that are no easements of any kind on the lot. This will make the process of building your home a lot less complicated and make it easier for you to purchase the lot for you to build your dream home.

Posted by Alex in 07:19:14 | Permalink | Comments Off

Thursday, June 10, 2010

Property Valuation Tips For First Time Homebuyers

Finding the perfect Minnesota home as a first time homebuyer can be a long, drawn-out task if you’re not organized and prepared to go through all the steps involved with the search process. One of the most important steps in the home buying process involves the valuation of the home, or determining what the home is worth from your perspective.

Authors Eric Tyson and Raymond Brown of the book “Home Buying for Dummies” point out that the true value of the home doesn’t only consist of the price. Value means different things to different people, so you need to identify the factors that are most important to you when searching for your ideal home. Ultimately, the value of the home is what a particular home is worth to you, and what types of benefits you will derive from this type of investment.

The first step that a home buyer can take is to review the actual dollar cost of the home and compare it to the other homes in the same neighborhood. This can be done by taking a look at the MN MLS listings of the specific area. Finding out what the original purchase price of the home for sale can also help, but if the purchase was not within the last 3 years, you cannot make an accurate assessment and use the original purchase price a basis for review. To use the original purchase price to aid in your assessment, see if the property has devalued or if its value has increased withing the time period since the seller bought it.

The second step that a home buyer can take is to figure out how much repair work is needed and what the cost will be. Ask yourself a few questions like “If I move in next week, what has to be done to make it livable and lovable?” or “What needs to be fixed and how much will it cost?” Sometimes, the cost of repairs is factored into the asking price but if it is not, it is to your advantage to know what the add-on expenses you may be facing in the near future.

The third step would be to project how much the property can be sold for in 5, 10, or 20 years after your purchase. This is when the location of the home becomes vital. Find out what is the average appreciation value of the real estate property of the neighborhood that you are interested in. If the trend of the property prices show that it is stable and in some years, you can make a good return on your investment, it would be to your advantage to make such an investment.

When deciding which among the many homes for sale to purchase, try to look at the different properties available in the various neighborhoods to see what best suits your needs and your budget. Finding out what the true value of the home that you are interested in goes far beyond the price of purchase. There is more to a buying a new home that just what simply meets the eye. Find out more about the current homes for sale in the different neighborhoods and what benefits you can get as a first time home buyer.

Posted by Alex in 08:06:22 | Permalink | Comments Off

Monday, May 17, 2010

Doing Neighborhood Research as a First-time Homebuyer

Being a first time homebuyer can be overwhelming and stressful because there are so many things you need to keep track of and several important decisions to make. Exercising some due diligence when searching new neighborhoods and looking at prospective homes is an important part of the home purchasing process as a first time homebuyer, and you may need to do some research independently to really find out which neighborhood is the best match for you.

One of the most important things to do as a first time homebuyer is to explore at least a five-block radius of your ideal neighborhood to see all of the homes available on the market. You can do this by driving around the area, or navigating your way through the neighborhood using an online mapping tool. This will give you a chance to narrow your focus to only the areas that you are most interested in and give you a relatively large inventory to work with.

As a first time homebuyer, it’s also a good idea to find out where the nearest gas stations, public library, grocery stores and access points to the interstate or major highways are. Remember, you need to imagine what it would be like to actually live in this neighborhood. Make a mental note of the locations of different stores, service centers and roadways so you can be confident about running errands and commuting to work with peace of mind.

You may also want to learn about zoning laws in your particular neighborhood, especially if you’re considering moving to an entirely new area. While some first time homebuyers are satisfied with the layout and structure of their new home, others are determined to start remodeling within months of moving in. Make sure you understand basic zoning laws and regulations for building pools, decks and extending your home out into the garden or yard so you can make the best decision for your needs.

Finally, you will need to learn about any condo association fees particular to your prospective area, as well as any taxes and other fees specific to the address you want to move to. You can find this information by contacting a real estate professional or checking the local county tax collector’s office website. Most tax collector offices have at least one website that allows you to enter an address and find out tax information. For condo fees and other fees related to the purchase, you can contact a local lender or Minnesota real estate professional for an estimate.

Taking the time and effort to take find out about the new neighborhood you plan to live in is a vital step in the purchasing any homes for sale. Find out the important details about taxes, zoning laws and other related fees associated with a real estate property purchase by doing online research and contacting a local lender, a mortgage professional or a licensed real estate agent. The data that you have gathered will greatly aid you in deciding which among the homes for sale to purchase.

Posted by Alex in 08:20:07 | Permalink | Comments Off