Before you put your house on the market, or consider buying another home, you need to find out how much homes are selling for in today's market, so you can make your plans based on the most up-to-date information available --
We are beginning a new video series called the Market Minute, which will be showcased each week or so on our blog. Our goal is to keep these updates brief, live, and relevant. Our very first video is below.
Traditional comforts and urban touches come together in this private retreat in The Pointe! This home backs to a protected wetland, and has extensive professional landscaping. With four bedrooms and four bathrooms on three floors of living space, this home has plenty of space to roam!
Warm hardwood floors run throughout the entire main floor and second level. The two-story foyer boasts an open staircase and is flanked by a formal dining room and library with built-ins. The family room has hardwood floors and a corner gas fireplace with marble surround.
The kitchen has hardwood floors, updated silestone countertops, an abundant amount of raised panel cabinetry with new hardware, including 42" uppers, a built-in desk, and a window overlooking the deck and gazebo. A two-story dinette with large windows lets in plenty of sunlight. The deck is enormous with a unique curved shape, and offers flood lights and built-in benches with accent lighting underneath. The gazebo is a 12-foot hexagon, and has lights inside. An arbor covered with lovely purple flowers runs alongside the garage.
The second floor offers a large master suite with French door s, hardwood floors, vaulted and lighted tray ceiling with fan, and fireplace with marble surround. The attached private bath offers a garden tub, dual sink vanity, tile floors and walk-in closet. Cross the catwalk to two other bedrooms, both with hardwood floors and ceiling fans. One room has beautiful white wainscoating and the other has a chair rail and crown moulding.
The lower level was professionally finished and offers a huge amusement/family room with a built-in media center, gas fireplace with curved brick surround, sconce and recessed lighting and bright lookout windows. A wet bar with tile floors adjoins the amusement room.
The lower level also boasts an exercise room which could also be used as a den, hobby room or play area. This room showcases an arched entrance, wood pillars and built-in shelves/bookcases. A 3/4 bath with tile floors is on the second level.
The lower level has tons of storage, with several large closets, as well as a large utility room with utility sink.
The entire home is outfitted with Hunter Douglas custom window treatments. Other amenities include an in-ground sprinkler system, front-load washing machine, gas dryer, satellite TV, and carbon monoxide detector. This home has many updates to mechanicals. Contact listing agent for details.
This home is a gardener's haven, having been landscaped professionally and supplemented by the homeowner, with the following being just some of what is planted:
The Sunday Star Tribune featured an article debating the pros and cons of the 15-year mortgage. With "deliciously low" rates on a 15 year mortgage, the article discussed whether or not refinancing into a 15-year loan is the "thing to do" right now, or if the same or similar benefits can be achieved by staying in a 30 year mortgage, which, too, has attrractive rates. (Rates are hovering around 4.25 for a 30 year fixed and 3.75 for a 15 year fixed.)
Obviously, the pros to a 15 year refinance include rapid principal reduction, faster loan payoff (and hence, access to disposable income,) and a significant reduction in interest, resulting in substantial savings of out-of-pocket dollars. The cons include locking into a higher payment, meaning less financial flexibility, particulary if expenses down the road exceed projections, and tying up more money into your house, in a non-liquid form. Years ago this was a non-issue. Today, tapping this equity is not as easy.
The article was relevant - It's been a very hot topic of discussion among many. Here are a few discussion points not mentioned that I want to highlight. Running some simple numbers lends absolute clarity. I will use a principal balance of $350,000 as an example. (Please excuse my attempts at creating neat columns in our blog software.)
Ttl Int Pd on Loan
Total of Pymts
Ttl Int Pd on Loan
As % of Pymts
Using the simple chart above, the reduction in the number of payments in a 15 year loan results in an increase of the mortgage payment by $824. While this figure seems steep, the savings on the loan of $161,694 over the course of 15 years is substantial. This is a savings of just under $11,000 a year, or $898 per month (ultimately more is being saved than is being paid in the additional mortgage payment of $824.) Also, the total interest paid as a percentage of total payments on the loan is noteworthy, with an almost 50% difference.
The Star Tribune highlighted some solid pros and cons that made sense, but I took its slant to be more against the refi than in favor of it. Ultimately the decision to refinance into a 15-year loan boils down to personal situations, and if personal situations cannot warrant a 15-year refi, then perhaps sticking with the 30-year fixed (getting the rate into the 4's if possible) and paying down additional principal, is always an option that will yield solid benefits without the higher payment requirement.
Finally, those who are quite certain they are not going to be moving in the next decade or so, AND who are able to finance a 15-year loan, might considerthe savings on the interest payments over the life of the loan as a reduction in any loss currently estimated to be incurred on the property (without taking any future appreciation into effect.) Therefore, if one has $550K into his home and it is now worth $430K, that "loss" of $120K (without taking future appreciation into effect) can be bridged with the savings in the interest over the life of the loan (when sold in the future,) assuming no future declines take place.
A very simple-to-use loan amortization calculator can be found here.
The St. Paul Area Association of REALTORS reports:
Even with temperatures cooling, the Twin Cities housing market remained in its summer swelter of a holding pattern for the week ending August 28. Signed purchase agreements topped off at 636, continuing a sub-700 trend that has gone on for 15 weeks in a row.Prior to that we had 15 weeks in a row of 700 or more pending sales per week.
Think about that for a minute. There were more pending sales in the metro during the first full week of February than in the last full week of August. And last year at this time, we were consistently hitting 1,000 or more pendings throughout the summer.
All of this adjustment firmly points to the federal tax credit for first-time home buyers that was in full swing both at this time last year and during the winter and spring months of this year. We have returned to a world void of juicy government incentives.
The number of homes for sale has grown to 27,271, up 8.6 percent from the prior year. Increased supply plus declining demand has caused the Supply-Demand Ratio to grow 56 percent in one year's time. This boils down to greater opportunity for buyers and increased challenges for sellers. You're probably used to hearing that by now. We're certainly used to saying it.
I am walking with my friend Tanya on behalf of my grandma, Bernadette Grossmann, who lost her fight with Alzheimers in December 2006.
By participating in the 2010 Alzheimer's Association Memory Walk®, I’m committed to raising awareness and funds for Alzheimer research, care and support.
Currently more than 5 million Americans have Alzheimer's, and 78 million baby boomers are at risk – unless we find a way to change the course of this disease.
I want to do my part to fight Alzheimer’s, and I need your support! Please make a donation to help the Alzheimer's Association advance research into prevention, treatments and a cure for Alzheimer’s, EVEN IF ONLY $1. For the millions already affected by the disease, the Association offers care, education, support and resources in communities nationwide.
Thank you for supporting my efforts. We’re on the MOVE to end Alzheimer’s!
This 4BR 4BA home is owned by a chef and has a kitchen made for serious cooking! With a commerical-grade Viking stove, stainless appliances and huge kitchen with center island, the kitchen is the heart of this home.
A family room with gas fireplace and a wall of windows overlooking a large pond with professionally-landscaped shoreline is adjacent to the kitchen. A vaulted sunroom lies off the dinette and walks out to the deck.
The staircase has a windowed landing and leads to four bedrooms, including a private master suite with walk-in closet with built-in drawers. One of the bedrooms can easily function as a den.
The lower level is perfect for gathering, and offers a family room with gas fireplace, maple built-ins and room for a big screen television, lookout windows, a 3/4 bath, and a huge hobby room loaded with cabinet space, perfect for a home office or scrapbooking.
The yard offers jaw-dropping landscaping, with a raised patio, flagstone path, firepit, perennial gardens, pond, swingset, and vegetable garden. Fish for sunnies and croppies in the pond!
For more information on 2203 Mathias Road, view our ONLINE FLYER or contact Chad & Sara Huebener of Coldwell Banker Burnet at 952-212-3597.
This light & bright end-unit townhome offers windows on three sides, allowing sunshine to flow in! The main floor offers a huge kitchen with staggered 36" cabinets, 9’ Ceilings, and a Den with French Doors.
The upper level has 3 Bedrooms including a private vaulted master with private bath, a separate full bathroom, and an upper level laundry with bright window!
The lower level is fully finished and walks out to a patio. The patio and the deck overlook a wooded area.