Check out this bright sunny home in Brooklyn Park. Located near shopping, schools and freeways but tucked away from busy streets! This home features 3 bedrooms and 2 baths and ¾ bathroom on lowel level and nook in family room great for craft or desk area. Updates include paint, kitchen cabinets, counter tops and flooring throughout!
Home inspections are an essential part of the home buying process. It allows you to get impartial information about the house you are about to buy so you can avoid potentially pricey pitfalls. When you make an offer on your home, you can request an inspection contingency. This will allow you to back out of your offer without penalty within a certain timeframe if you are dissatisfied with the home inspection and are unable to resolve any inspection issues with the sellers. It should be noted that most inspections are able to be negotiated successfully between the buyers and sellers.
A qualified home inspector will pinpoint health and safety problems and look for any conditions that need specialized attention. An inspection includes physical elements such as roof, walls, foundation, insulation, attic and basement. It includes heating and cooling systems, plumbing, electrical and even examination of appliances. A home inspector provides a comprehensive report that details any issues found in the inspected home.
There are 3 things to remember about home inspection reports:
A home inspection is not a warranty. The report details the issues found on the day of the inspection and cannot predict issues that may arise in the future. No matter how skilled your home inspector is, he can’t see the future and predict when an aging system may fail.
No home is perfect– Even newly constructed houses can have issues. Some home buyers make this mistake of not having their new house inspected by a professional.
It’s not pass or fail– The home inspection report gives you all the details you need to help you make a decision whether or not to proceed with the sale of the home, negotiate with the seller to have the issues fixed or to reduce the purchase price.
The Bottom Line
The home inspections can reveal problems that you may negotiate with the sellers to fix before the closing or before you move in. It may cost you some money, but you’ll be glad you did it because, in the long run, every penny spent is worth it. Home inspection can give you peace of mind that the home you are about to move into is safe and in a good shape.
When you purchase a home you want to make sure that the people you’re buying it from have the full and legal title. As a buyer, you want a free and clean title of any loans, fees and liens that the previous owner had against it. Problems with the title can limit your enjoyment and use of the property and may bring you big financial loss down the line. This is where title search and title insurance plays a role.
A title search is when a title professional search public records to look for any problems with the home’s title, looking at deeds, trusts, and wills, tracing the history of the property back many years. Some buyers have lost their houses because of clouded ownership. One way of avoiding this is to buy title insurance, also known as an owner’s policy. This is a one-time upfront investment with rates based on the purchase price of your home. This policy is used to protect the purchaser’s interest in the property. Though this policy is not required, it is highly recommended. This policy is valid as long as the owners, or their heirs, have an interest in the property. When selling, this provides assurance to the buyer that the title company will back you up with legal defense if needed and will also monetarily cover title after purchasing a home.
As always, it is wise to consult with your Realtor, lender and Title Company to know your options and to determine what’s right for you.
It is anticipated that year 2015 will be a big year for homebuyers. Here are just a few of the changes that are expected in 2015:
Rent will raise around 3.5% and home values will continue to appreciate
Builders will begin constructing more, less expensive new homes.
Millennials will overtake Generation X as the largest group of homebuyers.
Homebuyers will have more negotiating power.
In general, it is expected that buyers will get back more leverage in the market. As Dr. Stan Humphries, Zillow chief economist says, “Since the recovery began in earnest in late 2012, buyers have really taken it on the chin, forced to contend with low inventory, tight credit, bidding wars and intense competition from investors and all-cash buyers. But next year we’ll start to see things really turn around. More inventory will continue to come on line, putting the competitive pressure on sellers for a change. This more balanced market will be smoother sailing for everyone, both for buyers in search of a competitive advantage, and for sellers who turn around and become buyers themselves.”
Next year looks to be a market that will balance out for both buyers and sellers—a benefit for everyone! But it is important to remember that no matter what the market does, the best time to buy or sell is when YOU are personally ready.
Looking for a house before getting pre-approved for a mortgage is like walking into a grocery store without a wallet. There’s nothing more disappointing than finding your dream house and then discovering you can’t afford it. To ensure that you have the best shot at getting the home you want, you need to obtain a mortgage pre-approval from a lender. It is a reasonable assurance you’ll be approved for a loan.
Here are the 5 things you’ll need to get pre-approved for a home loan:
Proof of income. A record of employment income such as a paystub, T-4 slip or a personal income tax return (if you are self-employed, at least two years of Personal Income Tax Returns and Financial Statements) Proof of any additional income such as alimony or bonuses.
Proof of assets. To prove that you have funds for the down payment and closing costs, you will need to present bank statements and investment account statements as well as cash reserves. Assets may include vehicles, retirement savings account, jewelry, collections and other real estate holdings.
Your credit score. The loan officer will actually do this part for you! You’ll need to provide them with some key information so they can pull your credit. A “good” credit score depends on the scoring system used by your particular lender. Different scoring systems use different scales, and they each develop their own credit score range. Customers with a higher credit scorewill be able to get lower interest rates which will affect how much you can afford.
Employment Verification. Not only will your loan officer want to see your pay stubs, but they are likely to call your employer to verify if you’re still employed and check on your salary. Today, lenders want to make sure that they are loaning money only to borrowers with stable employment. Borrowers who are self-employed still need to provide additional paperwork concerning their income and business.
Be ready to provide any additional paperwork requested by the loan officer as quickly as possible. The more cooperative you are, the smoother the transaction will be and the sooner you can find your new home.
The bottom line is by getting a pre-approval first before looking for a house can save a lot of disappointment and heartache later. By doing so, you also have an opportunity to discuss loan options and budgeting with a professional. If you’re interested in talking with a loan officer to learn about your credit score, you’re price point, or a home mortgage, Click here to contact our trusted loan officer John Roehrich.
5 Reasons Why You Should Sell Your House During the Winter Season
Winter is not traditionally regarded as being the best time to put a property on the market, so most sellers opt to wait until Spring arrives when they expect greater interest from buyers. But times have changed! Spring tends to be the busiest time for real estate overall, but that does not make it the best time to sell. Why?
With fewer listings to choose from in the winter, your home faces less competition then during the busy Spring season. This increases the chances that showings will turn into offers. You can expect a flood of new inventories in the first quarter of 2015 and as supply increases, the likelihood of you getting an offer at an acceptable price decreases.
Buyers have more time to look for homes when they are likely to have time off work
Some people are eager to buy before the end of the year for tax reasons
People who look for homes now are serious buyers! They won’t be dissuaded by the weather like “Spring shoppers” who are just curious, but not really looking to buy.
Buyer’s emotions tend to run high during this season as they look for a new home to celebrate the Holidays in. You can help garner these warm feelings by having a decorated home ready to show off just how welcoming your home really is.
Interest rates remain incredibly low this year. Savvy buyers will be taking advantage of this while it lasts. By Spring, the interest rates may be rising! Lower interest rates also allow buyers to afford a more expensive home than they could with high interest rates – a win-win for both buyers and sellers!
Check out this beautiful home in Oakdale! This home features spacious open floor plan with vaulted ceilings, hardwood floors, and fireplace with stone surround. Enjoy the great deck and patio for views of wildlife and quiet pond!
When someone decides to sell their property, what is the best avenue to take to have their home sell fast? In today’s market most buyers are using the internet to look for houses themselves before contacting an agent to represent them. Much has been said and written about selling homes through open houses. Who benefits more from this…the seller or the agent? The answer is nuanced.
Open Houses have become a never-ending debate, to whether or not they provide value to both the buyer and the seller. Some see the open house as an outdated form of marketing, while others are coming up with unique and fun ways to still incorporate open houses. We will run through pros and cons of open houses, as well as provide some fun and unique ways to host an open house!
It Provides Exposure. Open Houses help market the property and pull in viewers. Though it may not always yield a buyer, it may increase foot traffic and feedback on what to improve in your house. While the chances of getting a serious buyer is rather slim, an open house will draw in people especially if your property is priced correctly!
Draw in Potential Buyers. An open house gives potential buyers the opportunity to check the neighborhood, walk through the house and envision themselves living in the home. There is just nothing like seeing the home in person! – Although many buyers start their search online, pictures can only do so much justice.
Risk of Theft. Leaving your home open for strangers carries security risks. While the majority of visitors are there most likely to view your property, some may be there for nefarious reasons. Keep in mind that hosting an open house is an open invitation to anyone to enter your home. Make sure when you hire a realtor, you know that you can trust them to keep an open eye at your open houses for suspicious behavior.
Attracts NOSY Neighbors. Since open houses are open to anyone, this serves like a beacon to your lovely, nosy neighbors curious about your home that just want to see how your house looks on the inside and gossip about it to their friends. But, actually.
Rarely Produce an Offer. Many brokers or even homeowners will agree that open houses aren’t the best way to sell your property. The numbers of houses sold as a result of an open house is staggeringly low. Open houses spark curiosity in potential buyers but it is rare for someone to come look at the home and place an offer to purchase. After all, home buying is a very serious decision homeowner’s make.
IDEAS & TIPS FOR AN OPEN HOUSE:
Promote Your Open House. Make sure you find a realtor who will promote your open house. The open house should be posted all over the web- the MLS, Trulia, Zillow, Realtor.com, and all of the realtor’s personal and business websites. If they incorporate social media into their business plan, I would make sure the open house is on there as well. Our team makes sure to incorporate open houses on all social media platforms in a fun way!
Signs, Signs & More Signs. Although many realtors focus on web strategies, make sure some of the “outdated” techniques are still incorporated. However, instead of a few signs on the corner, add LOTS of signs. Most realtors will use a mix of signs- specialty signs, company signs, and just plain open house signs. Some signs offer “fresh-brewed coffee” or “an area list of foreclosures”. Many realtors will put up 20-40 signs for 1 open house!
Add a Personal Touch. Ask your realtor if they bring anything special to an open house. We’ve all attended open houses where you walk up to the door, and the agent is on the laptop, or watching TV. See if they bring some food or drink to the open house. Lots of agents may bake fresh cookies in the oven to create a pleasing aroma and treat, or brew coffee!
Feel free to contact our team to talk about the pros and cons of an open house for your specific property. The effectiveness of an open house can vary greatly by the style of your home and the location of your home. What will be the most effective avenue to sell your property for top dollar, in the shortest amount of time?
Sandy Erickson Real Estate Team of Keller Williams Realty Serving the Twin Cities Area
Get ready to join in for some fun and adventure! Join other little goblins and their parents or guardians for a night filled with “ghostly games, devilish demonstrations and a fun-filled hayride”! The Halloween Spooktacular is hosted at the Harriet Alexander Nature Center (2520 Dale St. N.) in Roseville, MN. For more information on the event center and the address, visit their website at: http://www.ci.roseville.mn.us/index.aspx?nid=183 or reach them by phone at 651-792-7012.
This event costs a small fee (last year was around $6 for adult & child together), but the price is worth the loads of fun. Please note that adult attendance is required. Each child will walk away with a special Halloween treat bag, and during the event they will enjoy a hayride, popcorn and many different forms of entertainment.
*Carnival Hall with Prizes
*Fire Circle with Live Music
To pre-register, you may download and fill out this form http://cityofroseville.com/DocumentCenter/View/12820 and bring it to the Roseville Parks & Recreation Department prior to the day of the event. You can also register by phone with a Visa, MasterCard or an American Express card at 651-792-7110. You are available to pre-register by phone Monday-Friday from 8:00 AM- 4:30 PM. Please note that if you plan on taking the hayride, you must also fill out a hayride waiver and hand it in when you check in. The hayride waiver can be found here: http://cityofroseville.com/DocumentCenter/View/12822
Our team loves working in the Roseville, MN area! We love fun-filled events for all ages and families. If you have any questions regarding real estate in this area, please contact us at 651-269-3487 or email us at Sandy@SandyErickson.com.
Our Website: http://www.ericksonteamhomesearch.com/