1/10 Questions to ask about a short sale

"Today I am breaking down the 10 questions you should ask before putting an offer on a short sale. It’s worth knowing why you want answers to these rather than just asking because you think you should. Some of the reasons may surprise you.

Question number 1- Are there any offers on the property?

This one is obvious to..."

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2/10 Questions to ask about a short sale

"Today I am breaking down the 10 questions you should ask before putting an offer on a short sale. It’s worth knowing why you want answers to these rather than just asking because you think you should. Some of the reasons may surprise you.

Question number 2- If there is an offer already, can I still submit my offer?

Good to know ahead of..."

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Buying a short sale? Read this first

"The answer is patience, plain and simple. If you want a deal you have to wait for it. Please keep this in mind it will go along way to keeping you sane during the process. There are so many moving parts to a short sale that it makes things move slower than in other transactions. This doesn’t mean that you as a buyer can’t position yourself to cut out many of the unknowns before you make an offer. Making sure you have a check list as a buyer of specific questions that you get answers to before you write an offer will go a long way to helping you manage your expectations. The more you know going in the better off you will be. Starting with...."

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Market update 11/16/10

"We have seen a steep decline in new listings over the last week, which is very typical for this time of year. As I have said before this actually makes for a great market opportunity for the sellers who have kept their home on the market. The buyers this time of year have historically been more serious because they need to move. This in many cases will give the sense of urgency to the buyers who are on the fence as the choices of homes go down...."

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Why you should you buy a home before the end of the year

"I am sure you are probably getting tired of hearing now is the time to buy but you are reading this. I have spoken to so many buyers recently that want to buy a home but keep waiting for the market to bottom out. It has for the most part bottomed out at this point. The reason that most people don’t know this is because the media is always 8 months to a year behind what is going on in the real estate market. They also have a habit of looking at things from a national perspective vs. locally. Bottom line this can cost you money in the long run by waiting too long. Here are 5 reasons to buy now vs. waiting..."

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New Listing in Lakeville, MN 2 story $339,900

Looking for the perfect move-in ready home in model condition? Look no further than this! The home has so many wonderful things about it from condition to location. The neighborhood is conveniently located close to Cedar Avenue and Dodd Road. Only 30 Minutes to the airport and Mall of America. Close to shopping, parks and schools. This neighborhood is in the Lakeville South school district. All of the neighbors show pride in ownership which adds to the appeal of the neighborhood. Many of the homes are very similar in style and size which makes for a great investment.

The main level as you enter the home has a large foyer and beautiful hardwood floors that carry into the kitchen. To the left is a home office that could be used as a 5th bedroom. To your right is a formal dining room which makes hosting dinner parties very easy. The eat-in kitchen with its beautiful hardwood floors also features custom cabinets, center island with breakfast area and plenty of room for a kitchen table. The living room off the kitchen has large windows that add light throughout the day and a gas fireplace for those cold winter nights. The laundry room is also on the main level right off the large insulated 3 car garage.
The upper level has a master suite complete with vaulted ceiling, a large walk-in closet, full master bath with separate Jacuzzi tub and shower. Another full bath plus 3 more nice sized bedrooms all with good closet space.

The lower level is currently unfinished but has egress windows, bathroom rough in and lots of storage space. A large portion is being used as a work shop but if you choose to finish it you could add another 1000 square feet.

The entire yard front and back is beautifully landscaped with many different types of trees, plants and perennials. The in-ground sprinkler system keeps the lawn lush and very green. The back yard is very private and can be enjoyed on the raised paver patio. This is a very unique and beautiful feature that ties into all of the landscaping. It is 17 x 16 which is larger than most deck with plenty of room for a table, lounge chairs and a grill.

This home is a must see with all it has to offer and would be a perfect fit for many different lifestyles. Don't miss this rare opportunity to own this wonderful home; they don't come around very often.

Avoid the "pricing trap". 5 key points to consider when selling your home.

Top five tips when pricing a home for sale


Pricing decisions should be grounded in reality from the start. Here are some tips to consider before you settle on a listing price.


1. Put personal feelings aside. Think realistically about how much a buyer would willingly pay for your home, not what you think they should pay based on your bias. Buyers don’t care what you paid for your home or how much was invested in repairs and upgrades. All they care about is getting the best home at the best price.

2. Understand the concept of market value. The value of your property is determined solely by what a buyer is willing to pay in today’s market. You shouldn’t automatically expect to get more than you paid when you bought the home. You have to look at all of the information including lagging indicators, leading indicators as well as current indicators. Having an agent who can provide a regression pattern helps as well.

3. Know the competition. No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market. Many times buyers will be looking in more than 1 area at a time. Your best guide is a record of what the buying public has been willing to pay in the past few months for properties like yours in your neighborhood.

4. Price it correctly from the begining. If you're too high, you'll need to continually reduce the price until you hit that "magic" number, and by then buyers will begin wondering what is wrong with the house or might wait to see how low you will go. We call that chasing the market.

5. Don’t test the market. Testing the market is a poor idea because most showings occur during the so-called "honeymoon" period, or the first 21 days in which the property is listed. After those first few weeks, showings drop dramatically. If the listing doesn't sell it could be on the market for a very long time. It typically takes 25 showing to get an offer. If you have had 50 with no offers you have in essence lost 2 buyers. Timing is everything!

Pricing and marketing go hand in hand, one does not work without the other.

As always please consult a real estate attorney with any legal questions you may have and your accountant for any tax questions.

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