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,...
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...
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.