Is It Over?
It’s mid-September, and I find myself emersed in end of summer reflections and at the same time, feeling the excitement of a new season soon unfolding. But first, to be clear; I am in no hurry to kick summer out the door like a discarded lover because I prefer fall's embrace.
Autumn is a spectacular season, and I adore crackling fires, the nip of crisp air, steaming bowls of soup, and pumpkin everything. However, each season deserves its full measure and summer is short enough. We’ll know when it’s time to pull out the favorite turtleneck and crockpot, but with temps still in the 70’s and low 80’s, fall needs to wait its turn.
Lucky us in The Twin Cities we celebrate all four seasons: spring, summer, fall, and winter. However, the lines between when one ends and the next begins are often blurry. I decided to take a casual survey of friends and neighbors on when it’s time let go of summer and move on.
- Labor Day weekend is the end of summer
- Summer ends when the kids go back to school
- End of the Minnesota State Fair means the end of summer...
708 N 1st Street #644, Minneapolis, MN 55401
2 Bedrooms and 2 Baths, 2136 Square Feet,
Virtual 3D Tour
When you enter this remarkable loft at 708 N 1st Street in the Historic and award winning Itasca Building you immediately notice the blend of natural light, dramatic timber and brick. The unique architectural blend of modern design and historic elements create an atmosphere that is both dramatic and intimate.
A True Minneapolis Loft
Do you crave the urban lifestyle? Does exposed brick, wood floors, soaring ceilings, lots of light, views of the city, the romance of the Mississippi Riverfront, and the North Loop right outside your door make your heart beat faster? Then you might fall in love with this fabulous loft too.
Location – The North Loop
The North Loop is known as the trendiest neighborhood in Minneapolis. It has excellent restaurants like the Spoon and Stable and Bachelor Farmer. Beautiful...
July Kicks Off the 3rd Quarter
There are currently numerous factors that affect the housing market. However, right now more than anything, it is the consistent lack of homes available for buyers in the lower pricing tiers. This fact holds true both in the Twins and in most markets across the nation.
It’s significant that while home values are still increasing, it is at a slower rate more closely matching income and wage growth. While you may be frowning if you are thinking about selling your home in the future, the alignment is healthy for the market. We all knew that sharply escalating prices for homes could not continue indefinitely.
Housing Market Trends Consistent
While we continue to see constraints on available homes for sale in the first-time buyer level, the market is becoming more balanced as we move up to higher price ranges. So sellers are still enjoying a market that favors them under $500,000.
Meanwhile, lower interest rates are helping to continue to make housing affordable in spite of the rising prices. Even though new listings were up 1.8 percent over July of 2018, inventory levels in the Twin Cities fell 4.4 percent. In spite of the fact, demand remains strong with closed sales up 4.5 percent and pending sales up 3.2 percent.
Although prices are not rising as quickly and steeply, the median selling price was up 5.9 percent over July of last year and up 7 percent as a rolling 12-month comparison....
17035 32nd Avenue N, Plymouth MN 55447
We found a treasure of a home in Plymouth, and we are excited to share it with you. This 2700 square foot residence sprawls lavishly along a circular drive, surrounded by enchanting gardens of flowering perennials, shrubs, and trees.
This home is meticulous and lovingly maintained by the current owners since 1973. It’s easy to see why they moved in and never wanted to leave. This property has so much to offer in terms of lifestyle, comfort, and location. Let us tell you some of the features we love about this home.
Plymouth, MN has been on America’s Best Places to Live list on three occasions and once including winning the #1 spot in 2008. With an outstanding location 12 miles northwest of downtown Minneapolis, extensive parks and trails, several bodies of water for recreation, convenient shopping and entertainment, excellent public and private school options, it is not surprising that it is one of the sought after western suburbs.
Right around the corner from this home, you will find a wide variety of shopping...
You must gain control over your money, or the lack of it will forever control you. - Dave Ramsey
For some of us, taking control of our finances is a challenge. One crucial element of the process is saving money. Americans are not very good savers. According to Bankrate, 58 percent of us have less than $1000 in savings.
Many of us are in that 58 percent because saving was not a habit we learned as children, but it is one we can embrace as adults. We can develop and nurture positive saving habits with the right motivation and inspiration.
Do not save what is left after spending, but spend what is left after saving. – Warren Buffet
If you have a 401K benefit with a company match from your employer, make sure you have the maximum amount deducted from your paycheck to take full advantage of the matching funds. Your 401K should be one of the significant elements of your retirement savings. The added benefit of the 401K...
Buyers Be Aware
Forget the spin. Take off the rose-colored glasses too. Let’s be honest. Most buyers hoping to score a home at the lower pricing tiers of the current real estate market, face fierce competition, creating a process fraught with disappointment.
That’s the bad news. But I am by nature a confident guy, a problem solver and a believer in the philosophy that winners never quit. So here is the good news. A buyer with a savvy agent can write an offer that a seller will find hard to refuse.
Be Ready to Act Fast
Desirable properties often have multiple offers a couple of days after hitting the market. There is no margin of error for indecisiveness or being unprepared to make an offer on a hot property as quickly as possible. That means you should not even consider making an offer on a home if you do not have a preapproval letter from an accredited lender.
Don’t Be Coy
In this market, you can feel reasonably confident that if you have fallen in love with a home so have other buyers. The occasion calls for an assertive approach, not a timid one. ...
If you are planning to sell your home in the spring, now is an excellent time to begin the process. I know what you are thinking. Now? Really? Spring is seven months in the future? I wasn’t planning to even think about the logistics of putting my home on the market until after the winter holidays. Has Joe lost his mind!
Believe me when I say my sanity is not at risk. There is logic at the heart of what appears to be madness. For those organized, pulled together people who prefer to plan for major events, this is going to resonate with you. For others who feel they perform best under pressure, I’m hoping to convert you. Here are several reasons that make the argument for getting a head start on the spring competition.
Give Yourself the Gift of Time
Selling a home, even facing the best of circumstances, is a life-altering, stressful experience. The luxury of time goes a long way to reducing the pressure of working against the clock when there may be many more demands on your time. Starting the process sooner provides you the grace to prioritize work and family responsibilities over home-selling tasks when necessary. This alone is a huge stress reducer and worth its weight in bitcoin!
Get a Headstart on the Spring Competition
In the Twin Cities, ...
Use a Budget to Control Your Money
When we gain control over our finances, lots of positive outcomes will follow. The door to new opportunities will open to us, and we will have more lifestyle choices to consider. How exactly do we control our money? We set financial goals, and then we monitor our spending, keep a limit on debt, save regularly, and invest wisely to achieve those goals. The very first step on the journey is following a budget.
A Budget is Powerful
A budget is a map we follow on the road to establishing a positive relationship with our money. With a budget, we can better plan how to spend if we know how much we have left after we pay all the bills. When we have a snapshot of our spending habits, we will be more likely to use discrimination in our purchases.
We need a budget because it is critical to keep our financial house in order as we build our future. Budgeting can help you rent and furnish your first apartment, or buy your first home, take a vacation, and begin planning for retirement. (Honestly, it’s never too soon) That is powerful stuff!
We all need a tool to keep track of income and expenses because it’s critical to know where our money goes every month. There is a richness of apps available to help you monitor your finances, such as Mint, Wally,...
Look Past the Pretty Package
At times when a buyer looks at a beautifully staged home that fits their criteria, emotions rule. Fall in love with a particular house, and almost immediately, the heart works against our own best interest by suppressing our better judgment. You know what I mean, that little voice inside your head saying, “but what about those battered floors?”
Consider the facts first.
The more you know about a home before making an offer the better. The condition of the home should be a major consideration. Hopefully, unless expensive, unforeseen repairs are part of your plan, you are going to have a professional home inspection as a contingency in the offer. But, before you even make that offer, you can do your preliminary evaluation of the condition of the home yourself.
Don’t set the stage today for financial regrets later.
Now there is no way I am saying that refinishing floors, painting or other minor repairs should be dealbreakers. But if there are too many items that fall on the fix list, added all together they may prove to be a tipping point on the no-sale side or affect the dollar amount of your offer. Even when a home checks off all the needs boxes and many of the nice-to-haves as well, costly repairs can quickly lead to regret.
Look before you leap.
Awareness of Money Starts Early
Our relationship with money generally begins at a very young age. That connection is very simplistic. We want stuff. We use money to get stuff. We get the money that gets us the stuff from our parents, grandparents, or any family member that happens to be handy at the moment with a few bucks in hand. We are not particular.
Fast forward, and we grow up. Hopefully, along the way, our parents teach us some fundamental money management skills because if as adults, we don’t have some control over our finances, they will control us. The result is mounting debt and sleepless nights worrying how we are going to pay it down.
Money Management is an Acquired Skill
If I’ve just described your situation, don’t take it as a personal judgment. You are not alone. Americans have a problem with handling their finances. Need proof? Look at the 2008-2009 real estate market crash where 3.9 million Americans faced foreclosure. We collectively owe $1.5 trillion in student loans and another $1.4 trillion in credit card debt. To make matters worse, 60 percent of Americans cannot cover a $1000 emergency expense, and nearly 45 percent of baby boomers (aged 55-73) have no retirement savings.
Twin Cities Housing Market Overview
As we look at June and the end of the second quarter, we observe a continuing trend of a more equitable and viable real estate market emerging. We also continue to enjoy strong housing market performance in part due to low unemployment, strong retail sales and the longest US economic expansion in history.
Overall, the dynamics of the market have not changed noticeably this year. Although new listings fell by 3.1 percent when compared to last June, the median sale price increased by 7.2 percent while days on the market flat-lined at 40. We are slowly approaching balance in the price range of $350K to $500K, but certainly not there yet. When we go above that range, we do reach a balance between buyer and seller. The highest price range is a buyer's market. Meanwhile, back in lower price land, inventory is scarce. I know, I know. You have been hearing this story for a long time now.
The High’s and Low’s of the Market
Looking at June of this year compared to 2018, new listings are down 3.1 percent. That decrease also brought pending sales down 2.9 percent and inventory levels down 1.3 percent. Meanwhile, the Median sales price increased by 7.2 percent, which is causing sellers to smile. Closed sales decreased 8.2 percent as did a percentage of list price received slightly by 0.3 percent. Time on the market...
Who Cares About Your Credit Score
By the time you experience initiation into the adult world, you've probably heard the term credit score. It’s a number you should be concerned about because other’s will be. They will use it to judge your ability to pay back a loan.
So who cares about your credit score exactly? Credit card companies, banks, mortgage brokers, cell phone companies, insurance companies, and landlords, to name a few. Some companies even want to look at your credit score before offering you a job to see how responsible you are.
How is Your Credit Score Calculated
Your credit score is a number that captures your creditworthiness based on your credit history. Three major credit bureaus, Experian, Equifax, and TransUnion, track your financial...
Buying a Home in Today's Market is a Challenge
You are rooted in the trenches in your quest for home ownership. The last property you toured had the kitchen of your dreams, but it is too close to the highway. The retirement condo you saw on the internet has everything on your wish list, but the building doesn’t have an elevator.
A warning to buyers, especially first-timers, in this market, finding everything you want is rare when there are not many homes to choose from, and properties rarely last a week without an accepted offer. Although you agree that compromise is a given, it’s wise to remember that some factors cannot be changed if you discover the deal you made is not working. You don’t get an opportunity to test drive a home.
In a recent survey by Trulia, 51 percent of homeowners have regrets about some aspect of their home. It is a given with the lack of inventory and the stiff competition for homes, circumstances may call for more compromise than you may want from your sacred wish list. There is nothing wrong with being adaptable. However, there are certain things you should never concede if you're going to be among the 49% without buyer’s remorse. ...
Summer Glorious Summer
Summer has returned to the Northern Hemisphere. Here in Minneapolis, also known as the frozen tundra, we feel our exquisite summer is the reward we deserve for getting past a long, frosty, biting, snowy, punishing winter. Ok, you get it – it’s cold here for a substantial portion of the year.
I’ll make the concession that all seasons of the year have its particular charms and recommendations. But, making the most of summer, filling every day with pleasures of the season, comes with the territory here in Minnesota. My summer list consists mainly of simple pleasures, with a touch of the exotic to shake it up a bit.
Go jump in a lake.
Now coming from a resident of the land of 10,000 lakes (actually it’s more like 11,842) it’s no surprise that water plays a dominant role in summer. Swimming, boating, fishing, sailing are all popular activities enjoyed on Minnesota lakes in the summer months.
Go on a picnic. Attend a concert in the park. ...
Minneapolis-St. Paul Housing Market Overview
As we look at the middle month of the spring housing market, we observe a trend towards a more balanced and sustainable real estate landscape. With the fed holding steady on interest rates and even suggesting it may lower them, the concerns over rising costs of mortgages are behind us.
The economy, although not growing as rapidly as in previous years, is holding steading and stocks are performing well. All these factors create an atmosphere of consumer confidence in the economy. The real estate market responds well to these conditions.
Although the inventory of homes is rising in the higher pricing tiers, in the lower first-time buyer levels supply remains constrained. The current situation is great for sellers, but for buyers, it is still no bed of roses trying to break into the market and buy a home. It’s not surprising that we see fewer sales at this end of the market.
The Market Ups and Downs
Comparing May of last year to the current year, new listings are up 2.4 percent. We’ll take it! The Median sales price gained 5.2 percent. While closed sales ticked up 3 percent, pending sales sunk 1.8 percent. Homes spent less time on the market, down 4.3 percent. We also see a decline of 0.2 in the percentage of sale price received, although it is still sitting at 100 percent, which gives sellers little reason to complain.
A Closer Look at the Housing...
Curb Appeal Works Magic on Buyers
If your curb appeal is missing that certain something that takes it from so-so to wow, I dedicate this post to you. If you are selling your home, you should already know how critical making that positive first impression is to potential buyers. You want to hit them with your best before they walk in the front door.
Even if you are not selling your home, boosting your curb appeal adds value to your property. You will also win the admiration of your neighbors and become the most popular house on the block. After you finish my list of suggestions, it will amaze you that such a small investment of money, time, and creativity will result in such a noticeable uptick of curb appeal.
Here are my best, inexpensive tips for upping your curb appeal game. So put on your sunscreen and let’s get outside!
1. Up Your Front Door Mojo
True story. Several years ago, I was having difficulty selling my home in Rhode Island. It was a newer home, a colonial replica in an association of like homes. Great location and landscaping but not getting the attention from buyers my agent and I anticipated.
I decided to paint the two yellow front doors, turquoise over the objections of my realtor, who was reminding me that my choice wasn’t a traditional colonial era color. A few days later, we had several showings and an offer. I’m convinced it was the newly painted...
The Best Advice - Listen to the Expert
Listen to your agent is probably the #1 best piece of home selling advice you will ever hear. Consider the reasons you hired him in the first place. You were impressed with his years of experience. Over his career, he has sold thousands of homes, and he knows what works and what does not. When a house doesn’t sell, he can tell you why and what to do to fix it. He can also tell you what not to do from the beginning.
Here are some great pieces of advice that you should hear from your agent when you list your home. Please take it seriously. The sale of a home is a stressful process, but a few easy steps can lead to a smooth and seamless experience. Listen to your agent. He wants what’s best for you.
To put you on the inside track, here are three examples of home selling advice that are universally true.
Price Your Home to the Market
During your listing presentation, the agent should include a market analysis on your home. The evaluation should have a recommendation ...
Minneapolis-St. Paul Big Picture
The Spring Housing Market is in play. Prices are on the rise as inventory levels continue to decline. Hopeful buyers in the lower price range are jumping on desirable properties hoping their offers rise to the top of the heap.
Months supply of inventory is improving in the mid-price housing range. We see steady sales activity in the higher price ranges while in the lower tiers buyers are still finding that landing a deal on a home to be a challenge especially for desirable homes in sought after locations.
What’s Up and What’s Down
Compare new listings to April of last year; we see an increase across the 16 county Twin Cities region of 4.5%. Closed sales were down 6.9% while the median sale price rose 5.2%. Pending sales were also down 1.1% and inventory levels 1.2% lower.
April weather was wintery at times, which discouraged buyer traffic and slowed sales. This trend was seen across Minneapolis as well as other parts of the nation. Higher prices, less affordability, and low inventory combined forces to dampen sales.
Let’s Dig a Little Deeper into the Housing Stats
While the median sale price rose 5.2% to $281,000...
There is park along the Mississippi teeming with hawks and bald eagles. If you spend any time here, you notice the character of the river changes daily. A vibrant neighborhood is right out the front door, and it’s a short walk to Target Field, the Guthrie Theater, and downtown Minneapolis.
Whole Foods, the dry cleaner, the local liquor store, and the Minneapolis Farmers Market are part of your neighborhood shopping experience. Boutiques and brewpubs are liberally sprinkled around the city streets beg you to explore and savor. In the evening, catch a movie at St. Anthony Main, followed by dinner and fresh gelato at the Wilde Café. This is the North Loop.
The North Loop is Minneapolis’s Hippest Neighborhood
The North Loop is about converted warehouse lofts, (it’s also called the Warehouse District) 5-star restaurants, hip bars, and gay nightspots. You’ll find great design shops where you can buy indie fashions. The Minneapolis Farmer’s Market is the place for local produce and products. You can catch a Twins game at Target Field.
Trendy, innovative, cool, vibrant, and hip are all words you can use to describe ...
375 Ferndale Road N, Orono MN
5 BEDROOMS, 3 BATHS, OFFERED at $584,900
OPEN HOUSE SUNDAY MAY 5, 12:30 – 2:00 PM
If you are in search of an outstanding family home in the western suburbs, you may fall in love with our newest listing in Orono. This 2,783 square foot walkout rambler is spacious and stylish and offers charm, comfort, and modern functionality.
The current owners meticulously and lovingly maintain this beautiful home. The updates and improvements they made will impress you. Since we feel pictures tell the story of a home best, let’s begin our mini-tour and point out some of the features that we love about this home.