Edina Real Estate

WHY Pick RE/MAX?

There are lots of reasons why you might choose to select one agent or company vs another. Unless you have a best friend or relative who you “have” to use, I would like to show you how I am different. I believe I have an excellent value proposition as to why you would select me as your agent and RE/MAX as your company. I would welcome the opportunity to meet with you and discuss how I can help you meet your housing goals-whether it be buying or selling. Interview a couple of agents, you will see there is a difference. You may wonder how does RE/MAX stack up within the Twin Cities. The attached PDF’s will give you some market share information as well as agent productivity-based on a 2010 compilation of the numbers. While these are just some of the metrics on which to base your decision, success does leave clues. How can I help you?

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Down Payment Assistance Synopsis

Where there is a will, there is a way. There are many many programs today that are city specific. So, the attached synopsis is a multi county foreclosure down payment assistance pool. Basically, there is money available for purchasers of distressed homes. If you want to buy a home and are flexible in which area you make your purchase, we can try to find you some programs.

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Gifts and Grants can be considered towards borrowers funds on certain 3% down conventional loans

Yes, you read that right. I just got an email today from a leading mortgage insurance company that is willing to underwrite this loan. You will need at 740 or better score. But, what an opportunity. In many ways, this is like FHA, but with a little higher credit threshold. The KEY difference, besides credit score, is the lack of an upfront MI (mortgage insurance) premium and as well as a smaller required monthly premium. This product could be a game changer for the MI company and conventional loans.

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Purchase 80/10/10 and 80/5/15 STILL exists

As of this post, the 80/10/10 and 80/5/15 can still be done. While underwriting has allowed it, it has been very difficult to find a second mortgage product that would write a 5 or 10% second mortgage. Well, after many phone calls, we have sourced two lenders who at this time are willing to offer the second mortgage. One is a bank and the other is a credit union. As with EVERY program, the rules can and do change at any given moment. The key to both product is extremely high credit scores and a file that utilizes conservative ratios. If you don’t have at least a 700 score, this might not be something you can utilize at this time. For the 80/10/10, you will need a 740 or better score.

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What Is Your Home Worth Today?

I found a cool resource at http://www.FHFA.gov. If you go there, in the middle of the page you will find something called the Home Price Calculator. You input your home purchase information in terms of State, quarter in which you purchased and the quarter in which you’d like to get the valuation. Next, you hit calculate, and it will show you a chart. While it isn’t specific to YOUR exact home, it does give trends for your area. If you want specific information-specific to your home-within the Twin Cities metro-give me a call and we can discuss your situation. I can then give you guidance on what the value might be.

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Did you know-Current & Future Housing Data

Watch this video-then call me to help you buy or sell a new home or investment property.

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8 Tips For Finding Your New Home

A solid game plan can help you narrow your homebuying search to find the best home for you.

House hunting is just like any other shopping expedition. If you identify exactly what you want and do some research, you’ll zoom in on the home you want at the best price. These eight tips will guide you through a smart homebuying process.

1. Know thyself
Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?

2. Research before you look
List the features you most want in a home and identify which are necessities and which are extras. Identify three to four neighborhoods you’d like to live in based on commute time, schools, recreation, crime, and price. Then hop onto REALTOR.com to get a feel for the homes available in your price range in your favorite neighborhoods. Use the results to prioritize your wants and needs so you can add in and weed out properties from the inventory you’d like to view.

3. Get your finances in order
Generally, lenders say you can afford a home priced two to three times your gross income. Create a budget so you know how much you’re comfortable spending each month on housing. Don’t wait until you’ve found a home and made an offer to investigate financing.

Gather your financial records and meet with a lender to get a prequalification letter spelling out how much you’re eligible to borrow. The lender won’t necessarily consider the extra fees you’ll pay when you purchase or your plans to begin a family or purchase a new car, so shop in a price range you’re comfortable with. Also, presenting an offer contingent on financing will make your bid less attractive to sellers.

4. Set a moving timeline
Do you have blemishes on your credit that will take time to clear up? If you already own, have you sold your current home? If not, you’ll need to factor in the time needed to sell. If you rent, when is your lease up? Do you expect interest rates to jump anytime soon? All these factors will affect your buying, closing, and moving timelines.

5. Think long term
Your future plans may dictate the type of home you’ll buy. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in the home for five to 10 years? With a starter, you may need to adjust your expectations. If you plan to nest, be sure your priority list helps you identify a home you’ll still love years from now.

6. Work with a REALTOR®
Ask people you trust for referrals to a real estate professional they trust. Interview agents to determine which have expertise in the neighborhoods and type of homes you’re interested in. Because homebuying triggers many emotions, consider whether an agent’s style meshes with your personality.

Also ask if the agent specializes in buyer representation. Unlike listing agents, whose first duty is to the seller, buyers’ reps work only for you even though they’re typically paid by the seller. Finally, check whether agents are REALTORS®, which means they’re members of the NATIONAL ASSOCIATION OF REALTORS®. NAR has been a champion of homeownership rights for more than a century.

7. Be realistic
It’s OK to be picky about the home and neighborhood you want, but don’t be close-minded, unrealistic, or blinded by minor imperfections. If you insist on living in a cul-de-sac, you may miss out on great homes on streets that are just as quiet and secluded.

On the flip side, don’t be so swayed by a “wow” feature that you forget about other issues—like noise levels—that can have a big impact on your quality of life. Use your priority list to evaluate each property, remembering there’s no such thing as the perfect home.

8. Limit the opinions you solicit
It’s natural to seek reassurance when making a big financial decision. But you know that saying about too many cooks in the kitchen. If you need a second opinion, select one or two people. But remain true to your list of wants and needs so the final decision is based on criteria you’ve identified as important.

G.M. Filisko is an attorney and award-winning writer who has found happiness in a brownstone in a historic Chicago neighborhood. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

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4 Tips to Determine How Much Mortgage You Can Afford

By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget.

Here are six surefire ways you can get your finances in order before you buy a home.

Homeownership should make you feel safe and secure, and that includes financially. Be sure you can afford your home by calculating how much of a mortgage you can safely fit into your budget.

Instead of just taking out the biggest mortgage a lender qualifies you to borrow, consider how much you want to pay each month for housing based on your financial and personal goals.

Think ahead to major life events and consider how those might influence your budget. Do you want to return to school for an advanced degree? Will a new child add day care to your monthly expenses? Does a relative plan to eventually live with you and contribute to the mortgage?

Still not sure how much you can afford? You can use the same formulas that most lenders use, or try another of these traditional methods for estimating the amount of mortgage you can afford.

1. The general rule of mortgage affordability
As a rule of thumb, you can typically afford a home priced two to three times your gross income. If you earn $100,000, you can typically afford a home between $200,000 and $300,000.

To understand how that rule applies to your particular financial situation, prepare a family budget and list all the costs of homeownership, like property taxes, insurance, maintenance, utilities, and community association fees, if applicable, as well as costs specific to your family, such as day care costs.

2. Factor in your downpayment
How much money do you have for a downpayment? The higher your downpayment, the lower your monthly payments will be. If you put down at least 20% of the home’s cost, you may not have to get private mortgage insurance, which costs hundreds each month. That leaves more money for your mortgage payment.
The lower your downpayment, the higher the loan amount you’ll need to qualify for and the higher your monthly mortgage payment.

3. Consider your overall debt
Lenders generally follow the 28/41 rule. Your monthly mortgage payments covering your home loan principal, interest, taxes, and insurance shouldn’t total more than 28% of your gross annual income. Your overall monthly payments for your mortgage plus all your other bills, like car loans, utilities, and credit cards, shouldn’t exceed 41% of your gross annual income.

Here’s how that works. If your gross annual income is $100,000, multiply by 28% and then divide by 12 months to arrive at a monthly mortgage payment of $2,333 or less. Next, check the total of all your monthly bills including your potential mortgage and make sure they don’t top 41%, or $3,416 in our example.

4. Use your rent as a mortgage guide
The tax benefits of homeownership generally allow you to afford a mortgage payment—including taxes and insurance—of about one-third more than your current rent payment without changing your lifestyle. So you can multiply your current rent by 1.33 to arrive at a rough estimate of a mortgage payment.

Here’s an example. If you currently pay $1,500 per month in rent, you should be able to comfortably afford a $2,000 monthly mortgage payment after factoring in the tax benefits of homeownership.

However, if you’re struggling to keep up with your rent, consider what amount would be comfortable and use that for the calcuation instead.

Also consider whether or not you’ll itemize your deductions. If you take the standard deduction, you can’t also deduct mortgage interest payments. Talking to a tax adviser, or using a tax software program to do a “what if” tax return, can help you see your tax situation more clearly.

G.M. Filisko is an attorney and award-winning writer who’s owned her own home for more than 20 years. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

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Two Special Twin Cities Home Buying Programs

One program is called FPP-Foreclosure Partnership Program, and the other is NSP2 Homebuyer Assistance Program.  Both programs offer incentive money for a purchase.  I can use these financing programs with one of our mortgage investors.  Consider checking them out to see if they’d work for you.

HennipenCounty-Non-forclosedHomes-overview

HennipenCounty-Nsp2-overview

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Rebuilding Credit To Get A Mortgage

Often, especially in this market due to the recession, we find potential home buyers who have had a life event or “bump in the road” that affects their ability to obtain a new loan. If you want to buy a home, you will have to have a certain number of reporting trade lines and for certain length of time. MOST mortgage programs require 3-5 trade lines and a minimum of two years of reporting. The other criteria is the actual credit score-which generally has to be 620, 640 or even 660 as it is all lender dependent. A manual underwriting where they use alternative credit such as rent payments, cell phone bill, utility bills, and the cable bill might be able to be used-but only with a few certain programs and lenders. So, the best bet is to re-establish credit as quickly as possible. HOW ABOUT NOW!! Don’t wait-it will only extend the time until you are going to be eligible. I have put together a list of resources that might be helpful. This list is only a starting place for your research. If you find another good resource please post it in the comments below so that the list can be expanded upon.

TOP IDEAS FOR CREDIT RE.doc

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Buying Rental Property In The Twin Cities

Have you ever wanted to own rental property, but were unsure where to start? I teach a class on the topic. I’ve decided to make the outline into a PPT. I cover the information in my class in much more depth and breadth, but this will give you a lot of useful information. If you are interested in discussing purchasing a rental property as an investment, just give me a call and we can set up a time to meet and review how I can help you become a “real estate mogul”.

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Mortgage Insurance May Still Be Deductible For Some Buyers

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Is There An Opportunity Right In Front Of YOU

I just watched an amazing video which I’ve posted below called the Money Tree. There are so many different interpretations. One that struck me was that people are oblivious to opportunity that is right in front of them. How many of us are looking for something that we already have or is within our reach? How many people are NOT buying real estate today when they could be looking at this as an incredible wealth building opportunity for what it is over the long term-assuming properties rise again in value? I was showing homes this past weekend. It was incredible to see townhomes in great communities selling for 40-60% less than they had sold for just as little as 5 years before. Luckily for my client, we are going to make an offer and ACT. Watch this video and don’t let the opportunities in your life pass you by. Don’t let life pass you by. Happy New Year and may 2011 be your best yet!

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December Is The Time To Reflect

Are each of us doing all we can to make the world a better place? Many of us have our favorite charity and organizations we support. RE/MAX is a very large sponsor of Children’s Miracle Network. Many people don’t realize how much has been given. Each time I sell a home, I automatically donate a portion of my commission to this organization. Other RE/MAX agents like myself contribute from their commission checks as well. Together, with RE/MAX we have collectively given over 100M. I would encourage everyone to consider finding an organization they believe in and make giving a part of their life. Just imagine what the world could look like?

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Getting Ready to Sell Your House

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Learn About The City Of Edina

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HUD Has A YouTube Channel-Here Is There Vid On Buying A Home

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Google lets you create cool templated websites

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Can Home Ownership Contribute To Your Wealth?

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Minnesota Foreclosure And Distressed Home Fact Sheets PLUS Twin Cities First Time Buyer Special Programs

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Twin Cities Foreclosure Update

Here is our latest newsletter that has updates on foreclosures in the Twin Cities.

Also, watch the video below

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Minnesota First Time Home Buyer Tips

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Top Seven Tips For Home Buyers

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Edina Wins Another Award

There is an organization called America’s Promise Alliance that just recently named Edina MN as one of the “100 Best Communities For Young People”.   Here is a link to their website  http://www.americaspromise.org/ From their site, you can see that a total of 5 schools in MN won this award.  There were 350 applicants for the top 100 that were submitted from all states.  The reason we won, is our extreme dedication to education.  As a parent and real estate broker, I can tell you that we take our education very seriously in this town.  Come and experience the difference for your family.

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Data.gov – A Cool Site With Lots Of Great Info

http://www.Data.gov I just found this site and wanted to share it.  It has a ton of info and reports.  If you have a project or just an “inquiring mind”, this is sure to be a hit.  Check it out and get the data you need.

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The Edina Housing Foundation Helps Families Move To Edina

There still is second mortgage money available for eligible families who would like to move to Edina but need a little bit of help.  One program to review is the Come Home 2 Edina program-which provides a second mortgage at the time of purchase.  http://www.comehome2edina.org I work with this program and have sourced lenders that allow for this second mortgage program.  If you want to move to Edina, let me help.

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50th and France

Ok, who doesn’t like 50th & France?  It is the coolest corner in the Twin Cities.  I like it a lot better than Uptown.  Recently, a sushi restaurant called Raku has moved in.  They have a great happy hour special on food and drink.  We went there a few ago and thought it was pretty darn tasty.  The service was wonderful.  Anyway, if you haven’t been there and want to see a sampling of what is available, simply visit http://www.50thandfrance.com/ they have a business association that features many of the restaurants, businesses, and attractions-such as the Edina Art Fair-which is extremely well attended.

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Edina Library

We personally use the Edina Library and recommend it to everyone.  They have great people that work there and a ton of resources for all to use.  Edina has a library by Southdale and one just off of Vernon Ave   They are both excellent.  http://www.hclib.org/AgenciesAction.cfm?agency=Ed

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Edina Resource Center

This is a great place to visit if you are looking for information about Edina.  They have links to the schools, recreation, and social services. Visit http://www.EdinaResourceCenter.com

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Basic Information About How to Buy a Foreclosed Property

By Patti Katzmark

THIS IS THE BEST TIME TO BUY A PROPERTY IN ALL OF HISTORY!

Interest rates are historically low! Selection is at an all time high!

HOME OWNERSHIP IS NOW AND ALWAYS HAS BEEN, THE NUMBER ONE VEHICLE FOR BUILDING WEALTH FOR MOST PEOPLE

It is the American dream to own your own home!

When you purchase a property, a price point is established, you are making payments and maintaining the property, through the usual course of time, property values rise, thereby, creating equity! What we want to do is look for properties that have the potential to make the EQUITY in the property grow at a faster rate than just “time”.

I would like to share with you my views on the process. We will discuss the role of a realtor, the difference between a short sale and a foreclosure, the shopping process and the buying process.

THE ROLE OF A REALTOR

If you had a sore tooth, you would consult a professional, a dentist, to care for your teeth. If you were going through a divorce, you would consult a professional, a lawyer, to represent and protect you through the process. Home ownership is the one way most people to create wealth in their lifetime. Doesn’t it make sense to consult a professional to help you through the process of purchasing a property? A realtor is that professional.

In Wisconsin, by default, all realtors represent the sellers in a transaction! Let me say that again, by default, in the state of Wisconsin, all realtors in a transaction represent the seller, unless, there is a separate agreement, (called a buyers representation agreement) in which you, the buyer, have a realtor in the transaction represent you. This separate contractual agreement allows the realtor to negotiate on your behalf, give you advise and information, in general, work for you. Otherwise, when you call the realtor on the sign in front of the house, that realtor is representing the seller. Buyer beware! You want someone to represent you!

Realtors are responsible for all of the information you see on the search engines when you look for properties, the realtor has a separate contractual agreement with the sellers of the property that allows the realtor to represent the seller in transaction and allows the realtor to advertise the property for sale by putting it on the MLS. The MLS lets other web sites and search engines download the information so that you see about properties for sale. Realtors have information that you can not necessarily get on most search engines, like how many days the property has been on the market, and the original listing price. These things can be very helpful in making an offer and negotiating a purchase price.

This separate contractual agreement also sets out how the realtors in the transaction will be paid. In case you were unsure, realtors usually get paid by the seller.

THE DIFFERENCE BETWEEN A SHORT SALE AND A FORECLOSURE PROPERTY

(in simple terms)

A short sale

The owner is usually behind on their payments

The bank is willing to consider offers that are less than what is owed

The process of making an offer on and getting to the closing on short sale property is long. The process can be very long and the closing may not happen.

How it works is:

You want to make a purchase, you write an offer, the offer is submitted to the owners, the offer is negotiated with the owners of the property until it has reached an agreement, This agreement is subject to bank approval. Once the paperwork is agreed upon, it is sent on to the bank. It has a long road to go on there. The approval has to come from underwriters, consultants, everyone and their brother. Once the bank decides which terms they will accept, the write the terms and submit them back to the seller and the negotiation with the bank and the seller starts. If and that is a big IF, the bank and the seller come to terms, the offer will then come back to you to get your approval if any of the terms have changed.

Short sale does not refer to the time frame for the sale, it refers to the money short on the mortgage!

Foreclosure properties

The bank is the owner of the property, the property has been through the foreclosure process the bank has already lost thousands and thousands of dollars. That is what the press is talking about when they are saying you can get properties for pennies on the dollar, you literally can, the banks have already lost that much money. Once the banks have established a price on the listing, they pretty much stick close to that price for offers until the property has been on the market for a number of days then banks start reducing the price until a buyer is found. Which is what makes it difficult for most sellers, banks have the ability and the necessity to keep reducing the price until they find a buyer, most home owners do not and can not compete. The process is pretty simple although can be time consuming. Your realtor is usually negotiating with the other realtor and an asset manager. An asset manager is someone the bank has hired to help them with the procedure of getting the property sold. Once the offer is accepted you are on your way to closing.

THE SHOPPING PROCESS

You must remember there is stiff competition for properties in the under $100,000 price range, if you are shopping in the less than $50,000 price range you must be one of the first shoppers to look at it. In these price ranges you have investors and potential home owners looking at the properties. You must be vigilant, checking the search engines daily, or have your realtor set you up on an automatic update so that you will get any listing that meets your criteria for purchase. When something comes available go look at it. If it is in decent condition for the price, it is not unusual for them to sell in a very short period of time.

Dress appropriately! In the winter months, wear warm clothing, boots, sometimes the properties are not shoveled or plowed, sometimes the heat is not on. Bring a flashlight, usually the electricity is not on, even if it is, you may want to get a better look at the insulation in the attic (you may want a ladder too) or the breaker box in the basement, the flashlight will come in handy. Remember, foreclosed properties are really no place for children. You never know what you may find. If it was not winterized properly it may have mold issues and children can be susceptible to those kinds of problems, sometimes the flooring has been altered which can be a safety issue, sometimes the trash out has not been completed and there can be garbage all over. Be careful.

Remember, we are looking for ways to gain equity with your purchase. We are looking for an unfinished basement where you could finish it, adding bedrooms or bath and extra living space to add equity quickly. We are looking for space on the lot to add a bedroom or garage if it doesn’t have one or an additional garage space if there is only a one car garage. Statistically, three bedroom homes sell faster than 2 bedrooms. If you can only afford a two, so be it, look for room to add a third bedroom to the property over time, there by creating more equity for when you sell.

Look with a “buyers eye” at the curb appeal. What can you do to the entrance or the appearance from the street to make if more eye catching? Statistically you only have 90 seconds to make a good impression on the buyer of the home, what can you do, how much can you spend making those kind of improvements to better help you sell the home at a profit later down the road.

You are looking for good basics, straight roof lines, good foundation.

You will need to check the wiring, maybe not so much in the cities but here in the north woods, you will want to make sure it is a breaker vs a fuse box, the it is wires not braided wiring. Check the plumbing, has it been properly winterized or are there plumbing issues.

Please remember that if there are appliances on the sight, usually, they do not work or the previous owner would have taken them with for re-sale or re-use possibilities. If they do work, it is a bonus. The seller, the bank, makes no guarantees about any of it.

Have an inspection.

Work with a realtor, so that they can help you with neighborhood re-sale prices so that in the long run, you do not over invest in your property.

THE BUYING PROCESS

I like to negotiate from a position of strength. You will need a pre-approval letter from the bank you are working with on the mortgage. Get ready before you even go out shopping. You will need a funds verification letter if you are paying cash.

You will need earnest money. It is kind of like down payment money on a car. Foreclosure properties usually require about $1000 down. If you are working with your bank on a no money down loan you will need to talk to your banker about whether or not the earnest money will stay in the loan and thereby lowering your payments or if you will get a check back upon close.

Remember your offer is in competition with other offers. They will keep looking at other offers until yours is signed by both you and the asset manager.

Leave yourself an out. In real estate contract an “out” is called a contingency. You will want at least one of those in case something should happen. The most usual one is a financing contingency or an inspection contingency. The contract says contingency but if means “IF”! I will buy this property IF, if I can get my financing, IF it passes inspection.

Remember time is of the essence with most contracts, if you say you will have your earnest money to the listing realtor with in three days of getting the offer accepted. You need to have your money there.

Banks have their own rules and their own time frames. We must follow the rules.

I could go on and on. There is more, these are the basics.

I can not stress enough that you will want someone representing you in the transaction. Many of the long time realtors are up to their eye balls as listing agents for the banks. Find your own reputable realtor to represent you in the transaction. My husband and I have been helping people for more than 5 years now and would be happy to help you.

If you would like representation please feel free to call 715-483-1947

Patti Katzmark
Edina Realty
St. Croix Falls
http://pattikatzmark.edinarealty.com

Article Source: http://EzineArticles.com/?expert=Patti_Katzmark
http://EzineArticles.com/?Basic-Information-About-How-to-Buy-a-Foreclosed-Property&id=2028319

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Five Reasons To Use A Real Estate Agent When Selling Your Home

By Jeff Lundquist

Selling a home is a very involved process. There are rules, guidelines and loopholes that the typical homeowner doesn’t know about. That’s why there are so many real estate agents in the industry – to help you sell or buy your home. You might think you can sell your home yourself and save some money, but it’s really more beneficial to your “bottom line” and your peace of mind if you hire a real estate agent. Here are five reasons you should hire an agent when selling your home.

Real estate agents have the experience and knowledge to get it done. They do this type of work every day and it’s almost like second nature to them. They can even guide you through the entire process because it will still be up to you to make the decisions. They also know more about the home, the current market and the price of the neighborhood because they receive inside information that homeowners aren’t typically privy to.

They provide an unemotional perspective. Homeowners who have lived in their homes for years often have an emotional attachment to the house. As a result, they might try to price it much higher than it’s worth to make up for the sentimental value. But with a real estate agent, you can get an unbiased perspective and opinion about the actual market value of the house. This will help you sell it faster at a price that’s fair for both the buyer and the seller.

Real estate agents protect you. It’s the same concept with the legal system – people aren’t allowed to defend themselves because it would be too easy for the other attorney to take advantage of your lack of knowledge. With real estate agents, the potential buyer’s representative might do something against regulation or “lowball” you just because you don’t know how to handle the situation. Get an agent for yourself to ensure that that you don’t get lied to and the entire deal is done fairly.

Real estate agents can save you money. You might have to pay a commission and other fees when you hire a real estate agent, but studies show that sellers who use an agent typically get more money for the house than homeowners who don’t use an agent. And even if you end up spending a few more dollars for an agent, the fact that they take care of the stack of paperwork is worth the price alone.

Agents make sure the deal is done legally. If you sell your home yourself, you might make a huge mistake that could end up costing you thousands of dollars. But if you hire a realtor, they are responsible for any problems that arise. That alone is worth the price that they charge because you can sleep comfortably at night when you buy your new home.

Hiring a real estate agent is the best way to sell your home. Even if you’ve been through the process before, rules and laws in the real estate industry are always changing. It’s a realtor’s job to keep up with these changes and they can provide you with the latest and most accurate information when they work for you. Don’t make the costly mistake of doing a “For Sale by Owner.” Hire a realtor and make the process stress-free for you.

Jeff works in Edina, Minnesota home of the first indoor mall. His website provides information about Edina realty. If you are looking for a property in Edina his site has a search of the Edina homes for sale along with information on Edina homes.

Article Source: http://EzineArticles.com/?expert=Jeff_Lundquist
http://EzineArticles.com/?Five-Reasons-To-Use-A-Real-Estate-Agent-When-Selling-Your-Home&id=1075135

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Check Out Energy Rebates

EnergyStar.gov –  Check Out Energy Rebates

This is a government site that offers lots of energy saving tips as well as explains what energy saving grants or credits might be available.

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Foreclosure Trends Newsletter

Here is the latest issue of my foreclosure trends newsletter.  As you can see, the trend is not our friend, in the sense that the housing market has not recovered.  Until jobs come back and people are employed and feel safe in their employment, they will tend to avoid making a committment.

ForeclosureTrends.pdf

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Rental License City of Edina Information

This information was gathered from the city website itself or from a conversation that I had with the city.  These rules and regulations are of course subject to change at ANY time.  Make sure YOU call check it out yourself.

The city of Edina dosent have any Licensing requirments on rental properties.

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Twin Cities Foreclosure Trends-From our MLS & Realty Trac

Besides the board of realtor sites:  http://theThing.mplsrealtor.com and market data posted elsewhere at http://www.MplsRealtor.com I have a subscription to Realty Trac.  My subscription gives me additional data about foreclosures and trends within certain zip codes.  This is in addition to my daily subscription to Finance & Commerce (a business newspaper that prints all the foreclosure information as well as very timely articles regarding the business community).  If you are looking for someone who has experience and access to information about distressed sales, we need to be working together.  Whether buyer or seller-I can help you understand the market we are in and the options and opportunities available to you.  Give me call today.

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Real Estate Information

These are a couple of my newsletters that have a ton of valuable information. Go check them out.

Foreclosure Market Trends Newsletter
http://www.realtytrac.com/MarketTrends/NewsLetter.aspx?guid=131bd355-1b69-4bd1-99cd-2f0c9a936810

Real Estate Cyber Space Tips
http://www.REcyber.com/cybertips/r11627

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Edina Farmer’s Market

Did you know that Edina now has a Farmer’s Market at Centennial Lakes on Thursdays? How cool is that? Yet another reason to call Edina Home

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Minnesota

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Outstanding Video-An Inspiration To All-Be The Best You Can Be!

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Twin Cities Home buyer book

Thinking about buying a home but don’t know where to start? Why not start by reading the home buyer hand book that we have provided below. It is a great place to start to get the information you need. When you’re ready, we would love to help you find and finance a new home.

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Minnesota Real Estate Newsletter Gives Access To Great Computer & Life Tips

I maintain a number of real estate sites, blogs, and newsletters. One newsletter that provides a number of computer tips to help you function better with a computer is http://www.REcyber.com/cybertips/r11627 The site is full of cyber space tricks and great places to visit. We have link to this site on the list of MN Real Estate links, but I wanted to highlight this particular newsletter because it different from what most agents provide. From this newsletter, you can also access all the back issues-from 2001 and beyond. It is really quite a useful resource-spend some time there if you have a chance.

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Taste Of Edina

A mighty tasty event is almost upon us.  It is called the Taste Of Edina.  It is being held this year (2010) on May 13th at Centennial Lakes in the Centrum Pavilion.  Some of Edina’s best restaurants will be providing food & wine.  In fact, there will be over 80 different wines and micro beers.  I can hardly wait.  Call the Edina chamber of commerce at 952-806-9060 to get your tickets.  I’ll see you there!

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Edina Schools On Wikipedia

I was just surfing on Wikipedia and ran across this posting about Edina Schools.  I thought this was very accurate and a good resource, so I wanted to share it with here.
http://en.wikipedia.org/wiki/Edina_Public_Schools

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Edinborough Park

The park is located on the site of the Hedberg Gravel Pit.  It has an outdoor and indoor park area.  The outdoor park has an ampitheater where they play FREE concerts.  This year, (2010) they are playing music indoors on March 28, April 25th, and May 23rd.  Summer outdoor concerts kick off on June 13th–Start times are at 7pm.  Get there early for the best seating.  The outdoor music is played at the southernmost end of the Edinborough Lake.  The lake is stocked with bullheads, sunfish and shiners/redhorse.  I can almost guarantee that if you go fishing there, you will catch fish.  We do it with corn in the summer with the kids.  Never missed yet.  Other activities include miniature golf & paddle boats.  These cost a nominal rental rate.

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Edina Pool aka Edina Aquatic Center

The kids love it.  It tends to get crowded, but it is a great pool.  They have the adult/better swimmer area and the kids pool.  If you get tired of the water, they have a cook out pavillion, ball diamonds, walking paths around a lake, and a fishing pier. They shoot fireworks over the lake on the 4th of July, so the park is THE spot to be.  Here’s little secret-part on the other side of the freeway (crosstown/62)  This will put you slightly further away from the action, but you won’t have to deal with the crowds and having to get into and out of the park.

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Edina Art Fair

This is always extremely popular.  It runs from June 4-6th.  It is located in the heart of Edina at 50th & France.  My advice is to plan on wearing your walking shoes.  This art fair is VERY well attended.  As such, you will be parking and walking to the event.

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Braemar Golf Dome & Golf Course

If you love to golf, you will love Braemar.  The indoor range is open from 8-8 daily and has 46 tees available on two levels.  They offer golf lessons as well.  In fact, I took lessons there about 25 years ago.  As far as the golf course goes, it is public, but preference is to Edina residents first.  So, if you don’t live in Edina, don’t expect to get on the course unless you are a guest.  The pro shop can be contacted at 952-826-6799

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Edina Gun Range

Did you know that Edina has a gun range that is open to the public?  It is actually a training range for police/fire/rescue, but is open at certain time to the public for classes and range practice.  http://southmetrotraining.com/public.html

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Edina Wins State Hockey Tournement-AGAIN

Edina consistently turns out the most unbelievable hockey teams.  This year 2010, they did it again.  I believe this is the 10th time.  If you like high school hockey, you’ve got to love the Edina Hornets!!  Oh YEAH

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Open Source Documents-Unbelievable Resources-Find YOUR topic of Interest

If you’ve never visited http://www.Archive.org, you are missing a wonderful site.  From this site, you will find many resources that are out of copyright and you can download and use them as you wish.  You will find all the classics and some fun things as well.  Just for fun, I have the download of a book called “Little Gardens” which is a book about setting up a garden on a city lot.  This is just one of the MANY fun things you’ll find.  You can download and watch old music, movies, and cartoons as well.  Plan to spend some time on the site should you decide to visit, as it is very cool.  Click here to download the book Little Gardens

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Sell Your Home Faster-Learn The Home Selling Secrets Of Successful Sellers

Here is a special report that outlines over 450 ideas on how to sell your home faster.  This report is just one of the many home buyer, home seller, and investor reports that I can make available to you.  Read this report and call me to arrange a time to see how I can help.  Download Now

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Edina Real Estate & Edina Home Sales

If you haven’t visited our board of realtors site that provide statistics on real estate activity, you should.  The link in http://mplsrealtor.com/the100.aspx Simply type in Edina and you will be given the year over year statistics followed by the year to date statistics.  Together, you will get a good feel on the current market within Edina.

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Edina Schools & National Center for Education Statistics

http://nces.ed.gov/

If you’re looking for a source of education-related statistics, visit the Institute of Education Sciences’ National Center for Education Statistics (NCES).

NCES is part of the U.S. Department of Education and the Institute of Education Sciences. It is the primary organization that collects, analyzes, and reports on education-related data in the United States. NCES reports complete statistics on the condition of American education and education activities internationally.

In addition to education statistics, NCES also provides other tools, such as the ability to search for schools, colleges, and libraries, or use the college navigator to identify schools that best meet the user’s criteria. You can access NCES at http://nces.ed.gov/.

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Avoiding HUD Home Headaches: Tips On Buying HUD Foreclosures!

Bidding & Buying on Minnesota HUD homes—it seems to be the hot ticket in town.

However – Remember these key points to avoid problems and advise buyers:

•    Only primary residence buyers allowed in the first round of bidding.
•    Determine if the home is being offered as eligible for Minnesota FHA financing:

o    Has an existing FHA appraisal that must be used (unless expired)
AND
o    The sales price has usually been based on the existing appraised value.  Bidding above the sales price may result in them paying the difference out-of-pocket between their bid and appraised value.

•    HUD does not automatically provide title insurance.  Make sure that the lender has disclosed this additional     expense to avoid surprises at closing.  Only if HUD has agreed to pay closing costs, could the insurance be provided at HUD’s expense.

•    If HUD is offering a repair escrow, that this amount can be ADDED to the MN FHA loan, but HUD doesn’t pay for it.

•    Lender documents must be to the title company up to 10 days prior to closing date in some states.

•    HUD signs closing packages first.  Then once the loan proceeds and the title company receives buyer down payment and closing costs, the buyer is allowed to sign.  Make sure that the lender is aware and has the ability to fund the loan BEFORE they have a completed loan package.

•    Closing delays are common due to “title clearing” issues. Foreclosed homes can have several liens due to utilities, taxes; etc that must be dealt with before closing can take place.  Minneapolis HUD Homes are a great investment when the buyer is prepared from the beginning for all potential challenges, such as rescheduling of moving trucks, and possible rate lock extension fees.

When you work with experienced professionals like John Mazzara with RE/Max Associates Plus in Edina Minnesota and Patti Mazzara with Venture Development Inc, a MN Mortgage Broker, you will get the guidance and straight-forward answers that make the process easy to understand. Let our experience help you through your home purchase.  Visit http://www.minneapolisstpaulhomes.com and http://www.ventureloanapp.com/

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Edina School Performance – Minnesota School Performance

Would you like to see how schools in Minnesota are performing?  This site will give you the data and facts that might be helpful in evaluating a schools performance as it pertains to your family’s needs.

http://www.schooldatadirect.org/

http://www.usnews.com/sections/education/high-schools

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Extension And Expansion Of Home Buyer Credit-4/30/2010

A Big WOW!!  The credit has been expanded to include homeowners who have owned their home for the past 5 years. No longer do you need to be a first time buyer.  The dollar limit is $8000 for first time buyers and $6500 for move up buyers.  This GREAT news.  Combine this with 50 year lows in interest rates, and you’d be crazy not to consider making a move.  If you feel secure in your job, think hard about buying  home at this time.  We can help you make the right move. Visit this site-which is from the National Association Of Home Builders  http://www.federalhousingtaxcredit.com/faq2.php This site give you all the rules and regulations as they now apply.

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Why Foreclosure Is Often Preferred By The Loan Servicer Instead Of Offering A Loan Modification

Have you ever wondered why a foreclosure occurs when a better solution might have been a modification?  Would you like to read the facts and figures and see how mortgages are bundled, sold and serviced?  You will soon see it is isn’t pretty, we are in the midst of a crisis, and it is likely to get worse before it gets better.  That being said, you can probably guess why-it’s about the money.  It is a little more complex than that-the report is 60 pages-but is explains the incentive and disincentives that are at conflict within the mortgage market today.  Once you understand how all the pieces go together, you can see that something “different” needs to be done.  I am a strong free market believer, but in this case, the government needs to have a mandate and rule that is guided towards keeping people in their homes.  Left to current industry solutions, the mortgage mess will continue to play out and get worse.  If you click on the link below, you will find the free report from the National Consumer Law Center.

http://www.consumerlaw.org/issues/mortgage_servicing/content/Servicer-Report1009.pdf

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Home Buyer Tax Credit Information Update

It’s now official!! The tax credit has been extended and expanded. YOU NEED TO HURRY! You now have until the end of April 2010. The following summary of the credit is provided by the National Association Of Realtors. The following two documents cover the changes in the new law. Now get out there and buy a home!!

NAR FAQ: Homebuyer Tax Credit Changes
NAR Issue Brief: Homebuyer Tax Credit Changes

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Neighborhood Stabilization Program- Hennepin County Redevelopment Tool

We work within the parameters of this program. One of our lenders will accept this form of funding. READ more about it and see if it might work for you. We would love to help you find and finance a home within the areas that qualify.

http://www.hennepin.us/neighborhoodstabilizationprogram

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Down Payment Assistance Programs (DAP) Lender Approved In MN

On of our lenders has pre-approved various down payment assistance programs. These programs MAY have changed and MAY be out of money when you contact them. Things change all the time. With that being said, we can use these programs in conjunction with FHA, My Community and the Home Possible loan programs. We are a Minnesota mortgage broker and may be able use these programs for YOUR transaction. Call us to begin the loan process and we can work together to find you a combination of funding sources that would work for you. Click Here

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Edina Vistor Video and Edina Twitter Feed

Would you like to learn more about Edina? Beside great links with facts and figures, they have a very nice new site at http://www.CityOfEdina.com that covers much more information about the city. For example, if you go there, make sure you watch their intro video. Here is the link to just the video- http://media.ci.edina.mn.us/ed/files/Edina_welcome.wmv It is very nice. They also maintain a Twitter feed at http://www.Twitter.com/EdinaMN How cool is that?

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What is happening in the Edina Real Estate Market?

Would you like to find out what is happening in the Edina real estate market?  Look no further than  http://www.mplsrealtor.com/the100.aspx  All you have to do is enter the city you would like information about.  You will get a one year synopsis and year to date information.  There are other great statistics too-simply explore the links to the left on the Navigation bar.  Compliments of the Minneapolis Board of Realtors. Click Here

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First Time Home buyer Loan Programs & Other Special MN Loan Programs

Here is a matrix that is very helpful explaining just some of the mortgage programs and their guidelines.  There ARE more loan options than these as well.  MN loan options are constantly coming and going-guidelines change.  We don’t work with all the programs, but we do work with many of them.  Call us to help you navigate through the home purchase process and select the right loan for you.  Look at the Matrix of programs provided.

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Edina School System

Would you like to learn more about the Edina School System? Use the link below to do some research. If you have specific questions about any of the Edina Schools, call me and I’ll do my best to answer them or direct you to the right person. We live and work in Edina and are very familiar with the schools.

Edina School Information:
http://nces.ed.gov/globallocator/index.asp?search=1&State=MN&city=Edina&zipcode=&miles=&itemname=&sortby=name&School=1&PrivSchool=1&College=1&CS=A1565FED

Here are some additional links of interest:

School Research and Data Counseling Resources:
http://www.schoolmatch.com/
Check out the Census data for the State of Minnesota by county: http://quickfacts.census.gov/qfd/maps/minnesota_map.html

Here is another census bureau provided by the State of Minnesota:
http://www.demography.state.mn.us/Census2000.html

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Moving To EDINA

A central part of the Greater Metro Area, Edina, Minnesota is one of the busiest suburbs surrounding the Twin Cities. Located just southwest of Minneapolis, Edina is a thriving business and shopping community, while retaining a friendly family atmosphere perfect for raising children. This quickly growing area has become an extremely popular area for those who work in the Twin Cities, but desire a more residential, easy-going pace of life. Edina real estate has flourished in the last few years, offering a wide variety of opportunities for first-time buyers looking to relocate and settle down in the suburbs. If you are presently in the market for a home, Edina is certainly a viable and attractive possibility.

Though it is outside of Minneapolis, there is no lack of shopping and entertainment options in Edina. The Southdale Center is one of the largest malls in the Twin Cities, offering 1.3 million square feet of department stores, restaurants and an attractive multi-plex movie theater. If that isn’t enough, Edina is within striking distance (an easy ten minute drive at most) of Bloomington’s famous Mall of America, one of the premiere tourist attractions in all of Minnesota. Additionally, the area between West 50th Street and France Avenue South is an extremely popular location for commercial and independent shopping. Many residents of the Twin Cities regularly find themselves trekking out to Edina because of its dense shopping culture.

More than anything, though, Edina prides itself on being a strong family community. The strength of the public school system in Edina is one of the reasons so many migrate to this budding area. Edina High School routinely is ranked nationally as one of the top schools in the nation, with a strong academic backbone, along with competitive extra-curricular activities to supplement. Publications such as Newsweek have honored its academic achievements, and its well-regarded sports program has been mentioned in Sports Illustrated. Most impressively, nearly 96 percent of high school graduates go on to college, and 85 percent complete an undergraduate degree within five years. The success of this town’s youth is truly a testament to the community of Edina.

Edina has a great deal to offer in terms of real estate. Some of the most spectacular multi-story homes in the Twin Cities can be found here, but the real estate is by no means limited to the extremely affluent. There are a wealth of single-family starter homes available in great neighborhoods at reasonable prices, as well as multiple condominium developments. In the current buyers market of real estate around the Twin Cities, the time has never been better to buy a dream home. If you are considering your options, I would encourage you to contact me and I would be happy to help assist you.

Buying a home, whether you are a first-time buyer or a seasoned real-estate investor, is an extremely important decision. It’s important to have all of your options easily accessible so you can make sure you are buying the home that is right for you. For your convenience, we are a fully cooperating member of the Twin Cities real estate community. The multiple listing service, or MLS, allows all member agents to view what is available in the market so you don’t feel compelled to go with an agent you are not comfortable with. So regardless of the company sign in the yard, please feel free to give me a call to arrange an appointment to view a home that you are interested in. Our website contains many helpful tools to get you started on your journey today, including mortgage rate calculators, mortgage rate quotes, and online mortgage applications. If you would like to browse for yourself, check out our Search Online Now! application. This will grant you access to all of the homes currently available through our multiple listing service. Got to my real estate website at http://www.MinneapolisStPaulHomes.com

If you are looking to relocate to Minnesota, I will be happy to help you out with our relocation package and guide. I, as well as many of my clients, are relocation specialists, and depending on your situation, there are various employee and corporate relocation packages available. Many of us own rental property ourselves as well and would be happy to assist you in finding a rental, or to arrange a tour with you to acclimate you with the area. Please check my website as well for our convenient relocation salary calculator and other relocation services.

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Make The Right Home Improvements & Increase Your MN Home Value

Are you ready to sell your Minnesota home for the highest dollar with the least amount of hassle? I have helped hundreds of MN homeowners get their home sold. Can I help you?

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Minnesota Home Seller Secrets

Are you ready to sell your Minnesota home for the highest dollar with the least amount of hassle? I have helped hundreds of MN homeowners get their home sold. Can I help you?

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Minnesota Home Buyer Secrets

First, read the guide and learn how to purchase a Minnesota home successfully. Then, call me to set up an appointment to begin the process.

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Edina Second Mortgage Program-Come Home 2 Edina

Would you like to live in Edina but can’t afford the home prices?  Consider looking into the Come Home 2 Edina program.  This is a second mortgage that accrues 5% simple interest and is due when you sell your home.  This makes buying a home affordable.  The money can be used for your down payment and can be used in conjunction with an FHA mortgage.  We can help you see if you are eligible.  Our mortgage company, Venture Development- http://www.VentureLoanApp.com works with lenders that accept this program.  Call us today- we can help you find and finance a home in Edina!

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Edina, Minnesota

Located in Hennepin County, you’ll find that Edina, Minnesota is a beautiful suburb of Minneapolis. It was first started as a milling and farming community back in the 1860s. However, today this is a developed community in the Twin Cities metropolitan area. There are a variety of highways that run right through Edina, MN so it is easily accessible to all areas of the metro area. Most of this city is residential, and it includes neighborhoods like Cahill Village, Rolling Green, Highlands, Viking Hills, Interlachen, Hilldale, Country Club District, Morningside, and Indian Hills.

The History of the Town

The town of Edina, Minnesota has quite a history. It was part of the Richfield Township originally. Most of the families in the area were immigrants from Ireland, who had come over to the United States due to the potato famine that was going on. Some Scottish and English farmers soon followed and settled in the area as well. The residents of the area came together in 1888 to discuss separating from Richfield Township and becoming their own village. The very first development in the city happened in Morningside. For a time Morningside became it’s own village, but later it would become part of the town of Edina again.

How it Was Named

It is very interesting to learn how the town actually got its name. There was quite a debate surrounding what the name of the town would be. Some of the names that were suggested for the new village included “Westfield,” “Hennepin Park,” as well as “Edina.” At the first meeting nothing was decided. Then at the next meeting, in a vote that was 47 for and 42 against it, finally the name Edina was decided upon by the people.

The Area Today

Today if you are in the city of Edina, you will find that many of the names of the streets are actually named after people whose farms once were located in the area. Some examples include Cooper Avenue, Grimes Avenue, Gleason Road, and Code Avenue. The reputation of this area is one of affluence. It is known for being a very affluent suburb in the Minneapolis area. Many of the citizens that live in this city are considered to be very wealthy as well, which is one reason that they were once called “cake eaters.” There are several billionaires that live in the city, including Carl Pohlad and Richard M. Schulze.

Education in the Area

The area of Edina is well known for the great education. Most of the area has a school district that is independent, so the kids of the area are served. There are six different elementary schools, then two middle schools, and only one high school is located in the area. The high school in the area has been listed as one of the best high schools in the United States when it comes to the academics. It also has been in the top10 when it comes to sports. In music it has made it in the top 40, and in debate it has been in the top 15 as well. The school has won national awards as well in a variety of different areas, including writing. One study showed that 100% of the students in the school graduate and 96% of the graduates go on to go to a good college. There are also several private schools located in Edina, MN. They include Calvin Christian School, St. Peters Lutheran School, and Our Lady of Grace.

The Economy

The economy in the Edina area definitely is doing well. There are a variety of different shopping centers in the area. One mall, the Southdale Center, was the first shopping mall in the U.S. that was totally enclosed and climate controlled as well. Two different hotels can be found in the area, including the Westin Edina Galleria Hotel and Residences, and the Residence Inn by Marriott. Various parks are located in the area as well. There are actually 44 parks that have great amenities, which include tennis courts, playgrounds, shelters for picnics, football fields, baseball fields, skating rinks, and more.

High Priced Real Estate

Take a look at the homes in Edina, and you’ll quickly realize that a Minnesota home in this area is not cheap. Edina real estate is well known for being on the expensive side. This is in part to being located in such a desirable area. While this is definitely a great place to live in the Minneapolis area, it is one of the more expensive areas to purchase real estate in.

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Edina, First-Ring suburban city

Edina is a first-ring suburban city in Hennepin County, State of Minnesota which started out as a farming and milling community back in the 1860s but has now developed into a metropolitan community.  Most of the original residents of Edina were Scottish and Irish immigrants and some have remained to see their city grow into a community that offers one of the best living conditions for its residents.  With 39 parks, high quality medical and educational facilities and regional shopping areas, Edina has indeed become a city to watch out for.

History

Edina used to be part of the City of Richfield in Minnesota in the 1850s after the original 17 family settlers migrated to the Richfield Village due to Ireland’s potato famine. The English and Scottish farmers followed and established a community along the Minnehaha Creek.  Edina was born after the residents decided to separate from Richfield Village in 1888 and establish a new village.  Among the names that were floated around include Westfield and Hennepin Park but it was Edina which was chosen by the villagers.

If you take a look at Edina’s street names, you would notice that most of them are the names of the families who once occupied Edina among them Code Avenue, Grimes Avenue, Cooper Avenue and Gleason road.

Community Profile

Being a resident of one of Minnesota’s ritziest cities can have its price but no one is complaining since majority of Edina’s residents are considered rich, with the average household income amounting to $66,019 in 1999 compared to the $37,974 average household income of Minneapolis.  The city’s per capita income amounts to $44,195 while the average income for every family amounts to $93,496.  Poverty is rare in Edina with only 2% of the total number of families and only 3.3% of the total population living below the poverty line.

Edina has a total population of 47,425 people as of the 2000 Census.  A total of 12,870 families live in the city’s 21,669 housing units.  Majority of the residents are Whites (94.28%) followed by Asians (2.99%), African Americans (1.15%) and the rest are native Americans, Pacific Islanders and those from other races.  The city’s population has an average age of 44 years, with 22.9% below the age of 18 and 22.7% were 65 years or older.

The high quality of life in Edina is evident with the vehicle ownership statistics in the city.  A total of 81% or 18,269 of Edina’s workforce drove a car alone when going to work while only 3% or 711 used the bus and 7% or 1,469 carpooled.  A small percentage of the workforce uses the taxi, motorcycle and bicycle when going to work.

Business

Money is circulating in Edina and if you are planning on corporate relocation or employee relocation or just plain vacation then you would not be disappointed with Edina’s commercial establishments.  This is shopper’s destination and if you happen to pass by here do not miss Southdale Center, a fully-enclosed. Climate-controlled shopping mall considered a first in the United States.  Other shopping centers include the Centennial Lakes Plaza, Yorktown, Galleria and 50th & France which Edina shares with Minneapolis.

Alcoholic drinks are controlled in Edina and these items are sold only in municipal liquor stores in Southdale, Vermon & Interlachen Blvd and 50th & France.  Nowhere else can you find this commodity in Edina.  Despite its commercial success, there is only one hotel in Edina and this is the Residence Inn by Marriott. The 225-room, 6-suites and 79-Condominium Westin Edina Galleria Hotel & Residences is still under construction and is expected to be completed by 2008.

Housing

Most houses and condominiums in Edina use utility gas (94%) while only a few use electricity (5%) and fuel oil or kerosene (1%) as their heating fuel.   Apartments are however a different story as only 66% of the dwellers use utility gas, 28% use electricity and the rest use fuel, kerosene, bottled, tank or LP gas.

One of the set-offs when living in a rich city like Edina is the ever increasing cost of living particularly the sky-rocketing housing costs.  The average price of houses for sale in Edina has increased by $185,000 from only $215,000 in 1997 to $400,000 in 2004.  It is thus a good idea to invest in real estate properties in Edina now before real estate prices sky rocket in the future.

Corporate relocation is becoming a trend because of the increasing number of ordinary people being displaced in Edina due to a wide disparity between their incomes and the cost of housing.   If you belong to the high-income bracket employees and your company offers you a relocation package in Edina which includes a condominium, duplex or a new home then make sure you know about the real state of real estate in Edina by consulting a real estate agent.

To solve the growing disparity problem, the Edina Affordable Housing Taskforce has released a set of recommendations for affordable housing in Edina.  The community has participated in the consultation and the results of the study will be used to jumpstart a plan for affordable housing in the community.

Despite the growing concern for expensive housing in Edina and a median rent rate of $654, the city only has a 5% vacancy rate.  Majority of the 29,669 housing units or 76% 916,072) are occupied by the owners.

Famous Citizens

Edina is a rich city and it is not surprising that not a few billionaires have made the city their home.  Among them are Best Buy founder and chairman Richard M. Schulze (who is a present resident) and Minnesota Twins baseball franchise owner Carl Pohlad. Schulze is No. 102 in Forbes’ List of 400 wealthiest Americans in 2007 while Pohlad is No. 107 in the Forbes List of the United State’s richest persons in 1992.

Famous singer and song writer John Denver lives in Edina with his first wife Ann Martell from 1968 top 1971. Professional Tennis player Mardy Fish, professional Wrestler Ric Flair and Author Vince Flynn are also from Edina.  Professional golfer Hilary Lunke (who won the US Women’s Open in 2003) and Ice Hockey Player Bill Nyrop (who won three National Hockey League Stanley Cup Championships) are also from Edina.

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