April is Fair Housing Month!

 |  Community Events, Financial, Purchasing a Home, Real Estate News, Resources to Hire Professionals, Selling a Home

The month of April is a very important time for real estate professionals all across the nation.

Why? This is in the month that we celebrate the anniversary of the passing for the Fair Housing Act and recommit to the goal that inspired the legislation.

For those of you who may not know, the fair housing act essentially eliminated housing discrimination and created equal opportunity in every community.

And, as you might imagine, it’s a critical piece of legislation for anyone interested in buying property in the Minneapolis Area.

A Closer Look at the Fair Hou...

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Report: US Home Prices On the Rise

 |  Purchasing a Home, Real Estate News, Selling a Home

The National Association of Realtors recently announced the latest US real estate figures and the numbers are encouraging for anyone considering selling their home.

Evidently, home price growth accelerated in much of the country during the fourth quarter of 2014.

This is a fantastic development for anyone hoping to get a good price on their home for sale.

What You Should Know About US Home Sales

Here is an overview of the highlights of the most recent real estate market report:

  • The median price of an existing single-family home increased year-over-...
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Report: US Home Inventory Low, Making It a Great Time to Sell

 |  Real Estate News, Selling a Home

Happy New Year! We hope you and your loved ones enjoyed a wonderful New Year’s Eve and that you’re as excited and hopeful about 2015 as we are!

And if you’re a prospective home seller, a recent report from the National Association of Realtors suggests that there’s a good chance you can get a great price on your home right now.

According to the recent report, US home sales recently hit a six month low, with inventory at a low po...

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More US Home Buyers Returning to Market Because of Easier Mortgage Rules, Stable Rates

 |  Financial, Purchasing a Home, Real Estate News, Selling a Home

More and more home buyers are returning to the US housing market because they’re noticing favorable market conditions.

Specifically, buyers are feeling more comfortable about navigating the market thanks to interest rate stabilization and easier mortgage rules, according to a recent article by Reuters.

This is fantastic news for the overall health of the housing market. After all, it suggests that the national real estate market is likely to become more stable over time.

...
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Ways to Highlight Your Home for Showings

 |  Home Maintenance, Home Organization, Selling a Home

First impressions always matter!  Here are simple tips for better home showings.

  • Remove clutter and clear off counters. Throw out stacks of newspapers and magazines and stow away most of your small decorative items. Put excess furniture in storage, and remove out-of-season clothing items that are cramping closet space. Don’t forget to clean out the garage, too.
  • Wash your windows and screens. This will help get more light into the interior of the home.
  • Keep everything extra clean. A clean house will make a strong first impression and send a message to buyers...
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What a Home Inspection Should Cover

 |  Home Maintenance, Purchasing a Home, Real Estate News, Resources to Hire Professionals, Selling a Home

Home inspections will vary depending on the type of property you are purchasing. A large historic home, for example, will require a more specialized inspection than a small condominium. However, the following are the basic elements that a home inspector will check. You can also use this list to help you evaluate properties you might purchase.

For more information, try the virtual home inspection at www.ASHI.org, the Web site of the American Society of Home Inspectors.

Structure:  A home’s skeleton impacts how the property stands up to weather, gravity, and the earth. Struct...

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Forms You’ll Need to Sell Your Home

 |  Home Organization, Real Estate News, Selling a Home

Historically spring is a popular time to sell your home.  Here is a list of important forms that you will need to accomplish this.

  1. Property disclosure form:  This form requires you to reveal all known defects to your property.  Check with your state government to see if there is a special form required in your state.
  2. Purchasers access to premises agreement:  This agreement sets conditions for permitting the buyer to enter your home for activities such as measuring for draperies before you...
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Tips for Pricing Your Home in the New Year

 |  Financial, Real Estate News, Selling a Home
  • Consider comparables –  What have other homes in your neighborhood sold for recently?   How do they compare to yours in terms of size, upkeep, and amenities?
  • Consider competition –  How many other houses are for sale in your area?   Are you competing against new homes?
  • Consider your contingencies –  Do you have special concerns that would affect the price you’ll receive?  For example, do you want to be able to move in four months?
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Understanding Capital Gains in Real Estate

 |  Financial, Real Estate News, Selling a Home

When you sell a stock, you owe taxes on your gain — the difference between what you paid for the stock and what you sold it for.  The same holds true when selling a home (or a second home), but there are some special considerations.

How to Calculate Gain

In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis.  To calculate, follow these steps:

1. Purchase price: _______________________

The purchase price of the home is the sale price, not the amount of money you ac...

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What Not to Overlook on a Final Walk -Through

 |  Purchasing a Home, Real Estate News, Selling a Home

It’s guaranteed to be hectic right before closing, but you should always make time for a final walk-through. Your goal is to make sure that your home is in the same condition you expected it would be. Ideally, the sellers already have moved out. This is your last chance to check that appliances are in working condition, and that agreed-upon repairs have been made. Here’s a detailed list of what not to overlook for on your final walk-through.

Make sure that:

  • Repairs you’ve requested have been made. Obtain copies of paid bil...
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