Great starter home with many great features including beautiful hardwood floors, 2 good sized bedrooms on the main level, full bath, eat-in kitchen with lots of all wood cabinets, living room with brick fireplace and large picture window. The lower level; has a 3rd bedroom, bath, family room, laundry room and plenty of storage. The exterior is maintenance free. Private driveway, large 2 car garage, patio and flat back yard. Walking distance to Target. Close to Cedar Avenue, Crosstown and best of all Lake Nokomis.
Click HERE to see this home
Tuesday, March 30, 2010
Spacious Rambler in Burnsville. New listing!
This truly incredible rambler has it all. From the open tile foyer as you enter the home you can see all of the updates and the care throughout this home. The main level features an eat-in kitchen with granite, new stainless steel appliances and breakfast bar. The informal dining room off the kitchen ties the living room in with the space making it perfect for entertaining. The beautiful hardwood floors continue throughout the rest of the main level into all 3 bedrooms. The master suite has a private bath and there is another full bath on this level. The 2nd or 3rd bedrooms could be used as a home office or den. A very unique feature is a main floor family room with a gas fireplace that opens up to the back yard.
The lower level has a large amusement room that will hold a pool table or a home theater. The adjcent game room would be perfect for a bar. There is a 4th (non-conforming) bedroom that could also be used as a home office or storage. The exrecise room could also double as a tv room or work room. The exterior is low maintenance. The back yard is fenced and ready for pets. Located in a quiet neighborhood, it is close to Highway 13 and Cedar Avenue. Due to the location it is less than 20 minutes to downtown St. Paul or Minneapolis, 8 minutes to the Mall Of America and 10 minutes to the airport. Less that 3 miles and you have many restaurants to pick from along with shopping.
Click HERE to see this home
The lower level has a large amusement room that will hold a pool table or a home theater. The adjcent game room would be perfect for a bar. There is a 4th (non-conforming) bedroom that could also be used as a home office or storage. The exrecise room could also double as a tv room or work room. The exterior is low maintenance. The back yard is fenced and ready for pets. Located in a quiet neighborhood, it is close to Highway 13 and Cedar Avenue. Due to the location it is less than 20 minutes to downtown St. Paul or Minneapolis, 8 minutes to the Mall Of America and 10 minutes to the airport. Less that 3 miles and you have many restaurants to pick from along with shopping.
Click HERE to see this home
Huge 2 story home on the nicest lot south of the river. Savage, MN
This is a gem of a home for a buyer that wants privacy, lots of landscaping and beautiful views. Large rooms, open floor plan, cobblestone driveway, deck with gazebo and tons of storage. Private 3/4 acre lot with extensive landscaping, beautiful views of backyard & river. As you enter the home you are treated to a huge 2 story foyer with beautiful hardwood floors. The main level features a 2 story formal living room, formal dining room, powder room, 2 story family room with gas fireplace and many windows that give natural light throughout the day; not to mention the beautiful view of the back yard. The eat-in kitchen has granite counter tops, new stainless steel appliances, hardwood floors and center island/breakfast bar.
The upper level has 3 large bedrooms, a full bath and loft. The master suite has a full bath, walk-in closet and 2nd closet.
The lower level is a walkout to the back yard patio. There is a bar room, amusement room with fireplace, 4th bedroom, bath room and craft room/office. There is plenty of storge on this level as well.
Because of the set up it could easily be converted to a mother in-law apartment. Enjoy all of the amazing landscaping on the deck, patio or gazebo. The landscaping includes a rock path down to the back of the property, many indigenous plants, stream with pond, sitting areas and room for a fire pit. A large storage area under the gazebo is perfect toi store all of your gardening tools and supplies. It would be great as a play area as well. The home is located in a quiet neighborhood towards the end of a cul-de-sac with local traffic only. The large 3 car garage has lots of storage and the paver driveway adds to the charm of this truly wonderful home. This is truly a must see home!
Click HERE to see this home
The upper level has 3 large bedrooms, a full bath and loft. The master suite has a full bath, walk-in closet and 2nd closet.
The lower level is a walkout to the back yard patio. There is a bar room, amusement room with fireplace, 4th bedroom, bath room and craft room/office. There is plenty of storge on this level as well.
Because of the set up it could easily be converted to a mother in-law apartment. Enjoy all of the amazing landscaping on the deck, patio or gazebo. The landscaping includes a rock path down to the back of the property, many indigenous plants, stream with pond, sitting areas and room for a fire pit. A large storage area under the gazebo is perfect toi store all of your gardening tools and supplies. It would be great as a play area as well. The home is located in a quiet neighborhood towards the end of a cul-de-sac with local traffic only. The large 3 car garage has lots of storage and the paver driveway adds to the charm of this truly wonderful home. This is truly a must see home!
Click HERE to see this home
Monday, March 29, 2010
NEW LISTING that is a must see! Apple Valley, MN
This beautiful home has it all! Let's start with the location, fantastic neighborhood, close to Cedar so your commute is short, 15 minutes to the Mall Of America and the airport. Close to everything Apple Valley has to offer from shopping, schools and parks.
The home is a beautiful 2 story with 4200 FSF. The main level has many wonderful features including large 2 story foyer, 1/2 bath, hardwood floors, huge eat-in kitchen w/ center island, Corian counter tops, breakfast bar, desk, french doors, kitchen dining table, beautiful wood cabinets and lots of storage! This kitchen is the perfect size for a professional chef. The family room has a fireplace and is 2 stories high with a vaulted ceiling. The formal dining room can be closed off from the kitchen with the french doors as can the formal living room. Due to all of the space this home has the formal living room would make a perfect main floor office. The main floor laundry room is very spacious with plenty of room to hang and fold clothes. The bonus room over the large 3 car garage could be used as a 5th bedroom, office or art studio.
The open floor plan of this spacious home continues on the upper level with a loft that over looks the family room, master suite with walk-in closet and full bath with dual sinks, separate tub and shower. There are 2 other bedrooms on this level along with a full bath and linen closet.
The lower level is a walkout to the private back yard. There is no shortage of living space or storage on this level. The unique design of this level is that it is open and flows in a circle. Start with the home office at the bottom of the stairs which can be used as a home theatre. Move on to the amusement room with a fireplace can be used as a game room, just add a pool table. Adjacent to the amusement room is a full wet bar and seating area perfect for a card table and designed to entertain! The sunroom with tongue in grove cedar was designed as a spa area. All of the plumbing and electrical is in place to drop a hot tub into the floor. You could also convert this room with a simple sub-floor to any other use you would like. The large sliding glass door walks out to a patio.
The yard is beautifully landscaped and very private. Enjoy many hours in privacy on the deck or patio. Plenty of yard left for a play set and other outdoor activities. This home is truly perfect for all different lifestyles and is a must see!
Click HERE to see this incredible home.
The home is a beautiful 2 story with 4200 FSF. The main level has many wonderful features including large 2 story foyer, 1/2 bath, hardwood floors, huge eat-in kitchen w/ center island, Corian counter tops, breakfast bar, desk, french doors, kitchen dining table, beautiful wood cabinets and lots of storage! This kitchen is the perfect size for a professional chef. The family room has a fireplace and is 2 stories high with a vaulted ceiling. The formal dining room can be closed off from the kitchen with the french doors as can the formal living room. Due to all of the space this home has the formal living room would make a perfect main floor office. The main floor laundry room is very spacious with plenty of room to hang and fold clothes. The bonus room over the large 3 car garage could be used as a 5th bedroom, office or art studio.
The open floor plan of this spacious home continues on the upper level with a loft that over looks the family room, master suite with walk-in closet and full bath with dual sinks, separate tub and shower. There are 2 other bedrooms on this level along with a full bath and linen closet.
The lower level is a walkout to the private back yard. There is no shortage of living space or storage on this level. The unique design of this level is that it is open and flows in a circle. Start with the home office at the bottom of the stairs which can be used as a home theatre. Move on to the amusement room with a fireplace can be used as a game room, just add a pool table. Adjacent to the amusement room is a full wet bar and seating area perfect for a card table and designed to entertain! The sunroom with tongue in grove cedar was designed as a spa area. All of the plumbing and electrical is in place to drop a hot tub into the floor. You could also convert this room with a simple sub-floor to any other use you would like. The large sliding glass door walks out to a patio.
The yard is beautifully landscaped and very private. Enjoy many hours in privacy on the deck or patio. Plenty of yard left for a play set and other outdoor activities. This home is truly perfect for all different lifestyles and is a must see!
Click HERE to see this incredible home.
Sunday, March 21, 2010
Strategic Defaults? What next?
For those of you that are not familiar with the term "strategic default" here it is- The decision by home owners who are currently upside down on their mortgages, that have no problem continuing to pay are just throwing up their hands and walking away from their homes. They are choosing to pay off credit cards, cars and other debt. The idea is by walking away from a home that they can not make a profit off of for the next several years, will put them in a better financial position by doing a short sale on their current home. They will then turn around and buy another home when their credit is repaired. Thus cutting their debt and their payment all at the same time.
If this becomes more popular as the option arms in 2010 and 2011 come due it will make the housing recovery slow even more. The current statistics in Minnesota is 29%of home owners are currently under water and owe more than their home is worth. I believe a home is similar to a stock in that it will go up, it will go down. The thing to remember is that the value is only an issue if you are selling at that moment. Walking away for no reason other than you don't want to pay anymore is poor judgement.
The home market is recovering but we are climbing out of a huge hole. That takes time and it doesn't just happen overnight. Hopefully this is not a new trend and just a small group of home owners that don't get it.
As always please consult a real estate attorney with any legal questions you may have and your accountant for any tax questions.
Follow me on facebook - Tom Sommers Edina Realty Twitter - usearealtor
or any of my Web Sites:
www.tomsommers.com
www.allmnhomes.com
www.tomsommers.edinarealty.com
If this becomes more popular as the option arms in 2010 and 2011 come due it will make the housing recovery slow even more. The current statistics in Minnesota is 29%of home owners are currently under water and owe more than their home is worth. I believe a home is similar to a stock in that it will go up, it will go down. The thing to remember is that the value is only an issue if you are selling at that moment. Walking away for no reason other than you don't want to pay anymore is poor judgement.
The home market is recovering but we are climbing out of a huge hole. That takes time and it doesn't just happen overnight. Hopefully this is not a new trend and just a small group of home owners that don't get it.
As always please consult a real estate attorney with any legal questions you may have and your accountant for any tax questions.
Follow me on facebook - Tom Sommers Edina Realty Twitter - usearealtor
or any of my Web Sites:
www.tomsommers.com
www.allmnhomes.com
www.tomsommers.edinarealty.com
So where are all the foreclosures?
That seems to be the question that is constantly being asked by agents and buyers. I would like to offer some speculation. The word on the street is everything has come to a grinding hault because of the the governments moratorium on foreclosures. Now that the moratorium has been lifted, its back to business. The idea that the so called "tidal wave" would hit last November was a bit over done. In reality it makes sense when looking at the time line, the "tidal wave" may still be on its way but not until the 3rd quarter of this year.
Looking at the time line this is what I see. The moratorium ended last November and at that point the banks were still behind working on the loan modifications. Now that many are not working out the foreclosure process has started. As that increases so does the demand for the Sheriff sale. That will put the courts behind further slowing the process. In Minnesota there is a 6 month redemption period after the Sheriff sale. At the end of that time the home is fully foreclosed on. From that point it can take a bank anywhere from a week to several months to get that home on the market. Add all the these delays up and you are now looking at July as the possible starting point were we will start to see an increase in foreclosures hit the market.
For a buy the upside of missing he $8,000 tax credit will be more homes to choose from and perhaps a really great deal as well. Just something to consider.
As always please consult a real estate attorney with any legal questions you may have and your accountant for any tax questions.
Follow me on facebook - Tom Sommers Edina Realty Twitter - usearealtor
or any of my Web Sites:
www.tomsommers.com
www.allmnhomes.com
www.tomsommers.edinarealty.com
Looking at the time line this is what I see. The moratorium ended last November and at that point the banks were still behind working on the loan modifications. Now that many are not working out the foreclosure process has started. As that increases so does the demand for the Sheriff sale. That will put the courts behind further slowing the process. In Minnesota there is a 6 month redemption period after the Sheriff sale. At the end of that time the home is fully foreclosed on. From that point it can take a bank anywhere from a week to several months to get that home on the market. Add all the these delays up and you are now looking at July as the possible starting point were we will start to see an increase in foreclosures hit the market.
For a buy the upside of missing he $8,000 tax credit will be more homes to choose from and perhaps a really great deal as well. Just something to consider.
As always please consult a real estate attorney with any legal questions you may have and your accountant for any tax questions.
Follow me on facebook - Tom Sommers Edina Realty Twitter - usearealtor
or any of my Web Sites:
www.tomsommers.com
www.allmnhomes.com
www.tomsommers.edinarealty.com
Friday, March 12, 2010
To stage or not to stage? That is the question.
Do you know how long it takes a potential buyer to form an opinion of your home? Some buyers will decide in about 15 seconds whether your home goes on the "Rule this one out" list or the "Keep this on the potential list".
When it's time to sell, it doesn't matter how much you love your home's decor or how much it cost to get the look. It's not going to be your home any more. It's a commodity which must appeal to the largest number of people. It's not personal it just business. There are lots of great homes on the market so if you want to see that sold sign, it's time to get to work. The goal is to appear to give the most value for the dollar. One way to do this is to visit open houses or the parade of homes looking at homes that are twice the value of your home. Try to find a wall color to paint throughout the main level or other upgrading idea that will not empty your wallet but will make your home stand out above the rest of the competition.
By now, you have no doubt heard about staging and what an effective tool this can be when used properly. A recent poll of real estate agents indicates homes that were staged sold much more quickly and often for more money. You can hire an expert or do it yourself. The reason this is effective is you are not only selling your home but a lifestyle. You want to potential buyers to enter you home and see themselves living there.
The basic elements are simple, starting with depersonalizing your home. We tend to fill our homes with memories, including photos, knick knacks from trips, kids artwork and other items that declare to visitors, "I own this home". That's not what a buyer wants to see. They want to imagine themselves in this home for years to come making their own memories. It may be tough to do but you must remove family photos, religious objects and teddy bear collections. The last thing you want is for the buyers to spend more time looking at the people who own the home than the home itself.
The best selling advice you'll ever get is summed up in two words – de-clutter and Clean. Newspapers, magazines, books, lost socks, homework and mail are referred to as “visual dandruff” by decorating experts. It is the first thing a buyer will see and will visually impair the selling points of your home. Clear it away and while you're at it, remove any furniture that sticks out in walkways or obstructs doorways. If your sofa is a little too comfy, consider a slipcover or renting something more presentable. Arrange furniture to take advantage of a room's focal points, including windows or fireplaces. Try to make the rooms appear as big and open as you can.
Everything must look fresh and updated. One of the least expensive updates is paint. Choose neutral colors. Remove wallpaper it can be a turnoff along with pastel colored paint. Invest in new hardware for cabinet doors and take down the heavy drapery. Counter tops should be completely cleared except for maybe a small green plant or the coffee pot. Enhance your home's space even further by clearing out the closet and utility areas. Light, bright and airy is the look you're going for. Wash your windows!!
Continue your staging efforts on your home's exterior. Nothing is more important than a first impression. An attractive planter, new welcome mat and freshly painted door is an invitation to explore what's inside. Remove the dirt and cobwebs from last fall. Make sure all of your doors and windows open properly. A little bit of WD40 never hurts. I am sure you have heard the old saying "You never get a 2nd chance to make a 1st impression". It was probably said 1st about selling a home.
Staging will take a little time and money, but the results are worth it. In today's competitive market, it's a must. Remember staging is a word that means many different things, most important it means improvement. It does not have to cost thousands of dollars. Sometimes the smallest changes make the biggest differences.
As always please consult a real estate attorney with any legal questions you may have and your accountant for any tax questions.
Follow me on facebook - Tom Sommers Edina Realty Twitter - usearealtor
or any of my Web Sites:
www.tomsommers.com
www.allmnhomes.com
www.tomsommers.edinarealty.com
When it's time to sell, it doesn't matter how much you love your home's decor or how much it cost to get the look. It's not going to be your home any more. It's a commodity which must appeal to the largest number of people. It's not personal it just business. There are lots of great homes on the market so if you want to see that sold sign, it's time to get to work. The goal is to appear to give the most value for the dollar. One way to do this is to visit open houses or the parade of homes looking at homes that are twice the value of your home. Try to find a wall color to paint throughout the main level or other upgrading idea that will not empty your wallet but will make your home stand out above the rest of the competition.
By now, you have no doubt heard about staging and what an effective tool this can be when used properly. A recent poll of real estate agents indicates homes that were staged sold much more quickly and often for more money. You can hire an expert or do it yourself. The reason this is effective is you are not only selling your home but a lifestyle. You want to potential buyers to enter you home and see themselves living there.
The basic elements are simple, starting with depersonalizing your home. We tend to fill our homes with memories, including photos, knick knacks from trips, kids artwork and other items that declare to visitors, "I own this home". That's not what a buyer wants to see. They want to imagine themselves in this home for years to come making their own memories. It may be tough to do but you must remove family photos, religious objects and teddy bear collections. The last thing you want is for the buyers to spend more time looking at the people who own the home than the home itself.
The best selling advice you'll ever get is summed up in two words – de-clutter and Clean. Newspapers, magazines, books, lost socks, homework and mail are referred to as “visual dandruff” by decorating experts. It is the first thing a buyer will see and will visually impair the selling points of your home. Clear it away and while you're at it, remove any furniture that sticks out in walkways or obstructs doorways. If your sofa is a little too comfy, consider a slipcover or renting something more presentable. Arrange furniture to take advantage of a room's focal points, including windows or fireplaces. Try to make the rooms appear as big and open as you can.
Everything must look fresh and updated. One of the least expensive updates is paint. Choose neutral colors. Remove wallpaper it can be a turnoff along with pastel colored paint. Invest in new hardware for cabinet doors and take down the heavy drapery. Counter tops should be completely cleared except for maybe a small green plant or the coffee pot. Enhance your home's space even further by clearing out the closet and utility areas. Light, bright and airy is the look you're going for. Wash your windows!!
Continue your staging efforts on your home's exterior. Nothing is more important than a first impression. An attractive planter, new welcome mat and freshly painted door is an invitation to explore what's inside. Remove the dirt and cobwebs from last fall. Make sure all of your doors and windows open properly. A little bit of WD40 never hurts. I am sure you have heard the old saying "You never get a 2nd chance to make a 1st impression". It was probably said 1st about selling a home.
Staging will take a little time and money, but the results are worth it. In today's competitive market, it's a must. Remember staging is a word that means many different things, most important it means improvement. It does not have to cost thousands of dollars. Sometimes the smallest changes make the biggest differences.
As always please consult a real estate attorney with any legal questions you may have and your accountant for any tax questions.
Follow me on facebook - Tom Sommers Edina Realty Twitter - usearealtor
or any of my Web Sites:
www.tomsommers.com
www.allmnhomes.com
www.tomsommers.edinarealty.com
Thursday, March 11, 2010
How important is the $8,000 tax credit? Maybe less important than you think.
With the $8,000 tax credit scheduled to come to an end at the end of April, word on the street is it will not be continued. I am on both sides of the fence of this issue. From a real estate agents perspective it would nice to see it continue to encourage 1st time buyers to buy a home. On the flip side as a tax payer it has to end to keep us as a country from going even further into debt.
So the down side if it ends you have missed your opportunity as a 1st time home buyer to get the tax break. However there is a big upside to this in the short term. The home affordability is through the roof right now and the interest rates are still incredible. Both of those factors are bound to change sooner or later. If some of the buyers fall out of the market because they don't understand the opportunity, several things could happen.
The amount of buyers per home will go down, which will increase you leverage as a buyer. In the Minneapolis/St. Paul area as of February 2010 there are 4 homes for every buyer. That is where we as agents like to see the market because it is balanced. If buyers drop out and inventory goes up your options improve. If the interest rates go up a good rule of thumb is to remember that for every percentage point the interest rate increases, you lose about 10% of your purchasing power. Meaning if you were to buy a $250,000 home at 5% and the rate goes up to 6%; the same payment will now buy you a $225,000 home. Once we have hit the bottom of the market and it is acknowledged by the press, it will already be on its way up again. Prices as well as interest rates can change quickly as we have seen in the past.
This is a wonderful time to buy a home with or without the tax credit, so get out there and find a home for yourself!
As always please consult a real estate attorney with any legal questions you may have and your accountant for any tax questions.
Follow me on facebook - Tom Sommers Edina Realty Twitter - usearealtor
or any of my Web Sites:
www.tomsommers.com
www.allmnhomes.com
www.tomsommers.edinarealty.com
So the down side if it ends you have missed your opportunity as a 1st time home buyer to get the tax break. However there is a big upside to this in the short term. The home affordability is through the roof right now and the interest rates are still incredible. Both of those factors are bound to change sooner or later. If some of the buyers fall out of the market because they don't understand the opportunity, several things could happen.
The amount of buyers per home will go down, which will increase you leverage as a buyer. In the Minneapolis/St. Paul area as of February 2010 there are 4 homes for every buyer. That is where we as agents like to see the market because it is balanced. If buyers drop out and inventory goes up your options improve. If the interest rates go up a good rule of thumb is to remember that for every percentage point the interest rate increases, you lose about 10% of your purchasing power. Meaning if you were to buy a $250,000 home at 5% and the rate goes up to 6%; the same payment will now buy you a $225,000 home. Once we have hit the bottom of the market and it is acknowledged by the press, it will already be on its way up again. Prices as well as interest rates can change quickly as we have seen in the past.
This is a wonderful time to buy a home with or without the tax credit, so get out there and find a home for yourself!
As always please consult a real estate attorney with any legal questions you may have and your accountant for any tax questions.
Follow me on facebook - Tom Sommers Edina Realty Twitter - usearealtor
or any of my Web Sites:
www.tomsommers.com
www.allmnhomes.com
www.tomsommers.edinarealty.com
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