Named for its harbor on Lake Minnetonka and located in the western region of Hennepin County, Deephaven is a suburb of Minnesota that provides rich historical value. Like much of the surrounding area, Deephaven was largely influenced by the nearby Lake Minnetonka. Originally kept secret by the Native Americans, who referred to it as “Big […]

The city of Orono, Minnesota was founded in 1858, the same year that Minnesota became a state. In April, 1889, Major George Brackett, who was a pioneer from Orono, Maine, founded the area of today’s city of Orono to be a separate township from the surrounding locations. The town got its name, Orono, from Chief […]

Located on the northern shores of Lake Minnetonka, Orono, Minnesota is a small lakeshore city that prides itself on a close community. With a population of almost 8,000, the community is just small enough to have a small-town feel while still encompassing vast areas of natural beauty.   Lake Minnetonka plays a large role in […]

The parks and trails located in Orono, Minnesota are some of the most magnificent in the state of Minnesota. With several parks and trails being located on the shores of Lake Minnetonka, and a heavy community emphasis placed on ecological preservation, Orono is home to several breathtaking venues. Some notable examples include:   Big Island […]

The city of Orono, Minnesota is served by schools that are located within school district 278. ISD 278 is a collection of schools that the locals call, “small in size, but big in achievement”. The schools are of important value to the city and the residents of Orono support them each year. The city of Orono […]

Is the stock market keeping you up at night? Are you consuming more antacids than ever before? Are the ups and downs causing more stress than you want or need? There is a simple alternative in rental real estate. Single family homes for rental purposes offer an excellent rate of return in an investment that […]

If you invest in a savings account, you’ll make less than 1% and would have to pay income tax on the earnings. On the other hand, contribute something extra to your house payment and you’ll earn at the mortgage interest rate which is certain to be more than you are earning in the bank. Making […]

In an attempt to compare homes, one of the common denominators has been price per square foot. It seems like a fairly, straight forward method but there are differences in the way homes are measured. The first assumption that has to be made is that the comparable homes are similar in size, location, condition and […]

As a homeowner, you obviously pay for your mortgage but as an investor, your tenant does. Equity build-up is a significant benefit of mortgaged rental property. As the investor collects rent and pays expenses, the principal amount of the loan is reduced which increases the equity in the property. Over time, the tenant pays for […]

Originally, in 1913 with the Sixteenth Amendment, Income Tax allowed a deduction on any interest paid by a taxpayer. Prior to World War I, most interest was paid for business purposes and very little paid by individuals. Credit cards, revolving credit, student loans and home equity loans that would charge interest would not become popular […]

Planning for retirement is obviously important and many times, an activity plagued by procrastination. Some people plan to have their home paid for by that magical date so they won’t have payments after they retire. It makes sense to eliminate a large recurring expense before they quit working. One strategy would be to be make […]

Rising interest rates are great if you are renewing a certificate of deposit but not so much when you’re borrowing money. With interest rates on the rise as well as home prices, housing affordability is a concern for would-be homeowners. A rough rule of thumb is that a person’s or family’s housing should not exceed […]

How much evidence is needed to make a decision to get out of the rent race and become a homeowner? Compare your rent with a mortgage payment on a similar size property. If you want a larger home than your current one, use the rent that property would require instead of what you’re currently paying. […]

The question plaguing every tenant who wants a home of their own is whether they should continue to rent or is it the right time to buy? The combination of good prices and low mortgage rates make it considerably cheaper to own than rent in most markets. Assuming a person is qualified with a down […]

Rental properties have four primary factors that contribute to a return on investment. Based on market conditions and investor strategies, the individual motivating factor can change for property owners. There was a time when the benefit of tax savings to offset income from other sources was considered important to some investors. However, in today’s environment, […]

The question concerning people who’ve had a foreclosure, short sale or bankruptcy is when they will be able to qualify for a mortgage loan. It takes different amounts of time to heal credit scores based on the event. The following chart is meant to be a general guide for how long a person might have […]

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Have you ever had a service company to your home to repair something and find out that it really wasn’t “broken”? It probably conjured up ambivalent feelings of joy that it wasn’t something serious and frustration that you had to pay a service call for something so simple. Before you call the repairman next time, […]

Part of the American Dream is to own a home. A home is a place to call your own; a place to raise your family and share with your friends. A home is a place to feel safe and secure. A home is a good investment? In a recent report* by Beracha and Johnson, it […]

Meet the Tellers Family. Back in 1946 Albert & Dorothy Tellers bought an 80-acre farm where they would raise their 4 children, farm the land and live their American Dream. This was a time when gas cost 21 cents a gallon and you could buy a brand new John Deere Tractor for $650.00 Times were […]

“It’s not far, if you know the way.” Maybe it is an obvious statement but there are some definite steps that will improve your success in buying a home in today’s market. Know your credit score – the best mortgage rates are available to borrowers with the highest scores. Unless you know what your credit […]

Rarely, does one size fit everyone and the same goes for advice. The following suggestion is not right for everyone. However, for people with job security and who don’t own a home; for people with good credit and enough savings for a down payment, there may never be a better time to buy a home. […]