It all seems perfectly reasonable: one person is not satisfied with what he can earn currently in the market and another wants to find the most attractive mortgage to purchase their home. It can be a good match but the IRS has specific rules that govern the transaction. The loan must be done in a […]

It takes money to buy a home: yours or theirs. If you’re not going to pay cash for a home, you need to find out exactly what you can borrow and what it will cost before you start looking at homes. The mortgage process is not as clear cut a path as it was a […]

Forget Macy’s and Crate & Barrel. Set up your bridal registry at the bank and use the funds for the FHA down payment on a home. This could be perfect for people getting married who already have their household items and really need help getting into a home. FHA has had this little known program […]

I don’t care how expected it is, the death of a spouse leaves the surviving spouse reeling and with a thousand questions. It’s good to know that the IRS has given special consideration regarding the sale of their jointly-owned principal residence after the death of a spouse. If the surviving spouse does not remarry prior […]

Do you remember going to the State Fair or Six Flags as a child? There was a terrific ride your older siblings were going on but there, at the entrance gate, was a sign that read “You must be this tall to ride.” After standing in line and thinking you had just about made it, […]

People are staying longer in their homes according to the National Association of Realtors and the U.S. Census. Over time, even a modest appreciation could result in a significant gain and homeowners should have a strategy to minimize possible taxes. Maintenance on a principal residence is not deductible but improvements can add to the basis […]

FHA loans that originated with lower interest rates have great advantages for buyers and sellers. Interest rate won’t change for qualified buyer Lower interest rate means lower payments Lower closing costs than originating a new mortgage Easier to qualify for an assumption than a new loan Lower interest rate loans amortize faster than higher ones […]

With the exception of a mortgage payment, the largest homeowner expense is utilities; and energy is the major component. There are lots of contributing factors such as air leaks, insulation, heating and cooling equipment, water heaters and lighting. It’s estimated that 75% of the electricity to power home electronics is consumed when the products are […]

It’s not fair! 29% of all sales made in June and July 2011 were cash. How does a buyer who needs a mortgage compete with a cash buyer? You’ve been looking for a home for months after thinking about it for years. You’ve found the home you want and meets your family’s needs. You write […]

“The significant problems you face today cannot be solved at the same level of thinking you were at when you created them.” Albert Einstein   The housing market has definitely caused significant problems for some people but is also providing some amazing opportunities for others. Agents aren’t like retailers who wake up one day realizing […]

Carbon monoxide is colorless, odorless and toxic. It’s called the “silent killer” in homes because some victims are not even aware that the deadly condition exists. Homeowners must be concerned about unmaintained furnaces, water heaters and appliances that can produce the deadly gas. Other sources could include leaking chimneys, unvented kerosene or gas space heaters […]

Uncertainty as to whether prices will continue to fall has to be one of the most common causes of buyer procrastination. Paying too much wouldn’t be a smart thing but price isn’t the only factor to consider. Interest rates have as much effect on housing costs as price. A small increase in mortgage interest rates […]

There are homeowners that would like to have a larger/nicer home but are patiently waiting for the market to improve. A frequently heard objection is that they can’t sell their home for what it is currently worth. Buying up in a down market is actually advantageous because while you might get less for the home […]

Two great videos about Mortgage Loans  

Another great video with helpful information on how to find the right real estate agent.

At a glance:  Why NOW is the Prime Time to Buy! 1.    Home Affordability is at an all-time high. The median mortgage payment on the median priced home as a percentage of the median household income is lower than it’s been in a generation. 2.    Mortgage rates are at rock bottom. It’s hard to imagine […]

Every week I receive at least 5 or 6 calls from people who have been house hunting on the Internet and have a list of properties they want to see in person.  Their enthusiasm is so permeating that I wish it were something that could be bottled and sold like fine perfume.  Then as a […]

In today’s struggling real estate market, buyers (especially first time home buyers) would be foolish to write an offer on a home and potentially obligate themselves to a binding contract without the representation of a licensed REALTOR®. I say this because within the One to Four Family Residential Contract (the form that almost all Minnesota […]

This question comes up constantly – “Is the media correct when predicting the real estate market?” I believe the answer is NO. Someone once told me that the media predicted 5 of the last 3 depressions… in other words, negativity & controversy sells, so that’s what the media will promote. They make everyone so nervous […]

This is the Best time to buy a home. Just think, prices are incredibly reasonable, interest rates are so low, borrowing money is practically free, the selection of homes is good, homesellers are willing to negotiate. Wow, it just does not get better than this to buy a home. I am not saying you won’t […]