Champlin, MN Real Estate News

By Jennifer Tyre, luxury home specialist, short sale, bank owned, buyers agent
(Re/Max Results, house for sale in mn)
City of Champlin MN City of Champlin MN is located in Hennepin County on the banks of the Mississippi River. The city of Champlin is surrounded by beautiful neighboring cities including Maple Grove, Brooklyn Park, and Dayton. The city of Champlin is home to many attractions for the residents to enjoy. Along with the attractions, the city of Champlin has a great business district as well as safe and secure neighborhoods. The city of Champlin is a great area to purchase a new home and to start a new life. The city of Champlin is home to many parks that offer recreational activities to the community. Some of the recreational activities offered at the parks include softball fields, baseball fields, hockey rinks, tennis courts, soccer fields, basketball courts, skating rinks, and trails. In ...
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  Whether it’s your first home or your fourth – an FHA loan may be the sound foundation of your financial plan. Your key to a brighter future!   Our FHA loans are available to help you make and manage the investment of a lifetime — your home. • Purchase a home with little money down. • Overcome credit challenges, including a limited or less-than-perfect credit history, for qualified applicants. • Qualify with the help of a family member or friend as a co-signer. Let’s explore how an FHA loan can enhance your financial security. FHA features that fit your needs... • Accommodating – Flexible credit and income-qualifying guidelines • Customized – Choice of predictable fixed-rate payments or adjustable-rate introductory products • Flexible – Down payments as low as 3.5% • Options – Gift fun...
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A great article about VA Home Loans.  Take a look, and give Jesse a call today to see what your options are for using the VA program.  Then give me a call and we will work together in your home buying process. Purchase Using Your VA Benefits   The main reason why it's a great time to buy are:  Historically low mortgage rates, reduced home prices, and an increase of bank owned properties.  Veterans and active members of the military get to add another reason to their list - the VA loan.   The VA loan is one of the top benefits of military service which can be used to purchase or build a new home, and is desirable because it allows home buyers to purchase with no down payment.  VA also allows for flexible credit and documentation requirements making it the most popular financing option a...
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By Joel Friday, Make sure your home is "SOLD by Friday!"
(Keller Williams Classic Realty)
Buona Sera is a restaurant you may have driven by several times and never known it is there. The building is not much larger than the homes in the area and other than a parking lot and small sign, you might think it is a home. The location is West River Road and Douglas Drive in Champlin, MN. Inside you will find a family dining place seldom seen in Minnesota. The Italian food is very good and the chef may even stop by your table. We saw the owner greeting guests with his 4 year old grandson at his side. The service was great, they even spent extra time helping us to select a wine to make our Valentine's meal extra special. Make your next occassion extra special by stopping into this great restaurant. I will help you find a "Home by Friday!" Joel Friday Homes HomeByFriday.com  
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By Patti Ann Kasper, Blaine & North Metro Minneapolis St Paul Real Esta
(EXIT REALTY NEXUS)
Champlin, Hennepin Co. MN 2008 2007 Δ Change # Homes Sold 264 234 +11.36% Average Price $216,035 $235,225 -8.88% Median Price $199,900 $217,700 -8.90% Total Volume $57,033,376 $55,042,688 +3.49%    Based on information from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC.  For the period of January 1, 2007 thru December 31, 2008       Buyers: Receive a CASH BONUS of 2% of the sale price up to a maximum of $10,000.00 after closing when you purchase a home through me.To find out more, call Patti Ann Kasper  at 763-548-1418 today!Sellers: Your home SOLD in 39 days or less GUARANTEED, or I'll pay you up to $10,000 after closing!*National Real Estate Stimulus Program* ParticipantTo view my interactive on-line real estate magazine with listings, select the banner below:Touch the bann...
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By Patti Ann Kasper, Blaine & North Metro Minneapolis St Paul Real Esta
(EXIT REALTY NEXUS)
  Champlin, Minnesota Housing StatisticsSeptember 2008         Click on the chart if it is difficult to read. Based on information from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INCfor the period of September 1, 2007 through September 30, 2008. Buyers: Receive a CASH BONUS of 2% of the sale price up to a maximumof $10,000.00 after closing when you purchase a home with me. Sellers: Your home SOLD in 39 days or less GUARANTEED,or I'll pay you up to $10,000 after closing. *National Real Estate Stimulus Program* Participant To view my interactive on-line real estate magazine with listings, select the banner below:  Touch the banner below to send this information to your friends or family! Patti Ann Kasper, Your Minnesota and North Metro Twin Cities Real Estate Expert!© Copyright ...
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By Patti Ann Kasper, Blaine & North Metro Minneapolis St Paul Real Esta
(EXIT REALTY NEXUS)
Champlin, Minnesota Housing Statistics - September 2008Select the table below to see Champlin Homes for Sale or touch here: Click on the chart if it is difficult to read.Champlin, Minnesota Housing Statistics - August 2008Select the table below to see Champlin Homes for Sale or touch here: Click on the chart if it is difficult to read.Champlin, Minnesota Housing Statistics - July 2008Select the table below to see Champlin Homes for Sale or touch here: Click on the chart if it is difficult to read. Based on information from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INCfor the period of July 1, 1007 through September 31, 2008. Participant in the *National Real Estate Stimulus Program* Buyers: Receive a CASH BONUS of 2% of the sale price up to a maximum of $10,000.00 after closin...
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By Patti Ann Kasper, Blaine & North Metro Minneapolis St Paul Real Esta
(EXIT REALTY NEXUS)
City of Champlin - Hennepin County - MN20072006  Δ Change# Homes Sold234 331   -29.31%Average Price$235,225.00 $250,050.00   -5.93%Median Price$217,700.00 $232,500.00   -6.37%Total Volume$55,042,688.00 $82,766,794.00   -33.50% Based on information from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC.For the period of January 1, 2006 thru December 31, 2007 It is a great time to buy a home and there are great deals in all price ranges available.For more information about my services, guarantees or how I can help you find your next home,sell your home, buy a business or investment property - Just call me today at 763-548-1418!To view my interactive on-line real estate magazine with listings, click the button below:  Click the button below to send this information to your friends or...
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By Our Home Team
(Our Home Real Estate )
Closing Costs The bundle of fees associated with the buying or selling of a home are called closing costs. Certain fees are automatically assigned to either the buyer or the seller; other costs are either negotiable or dictated by local custom. Buyer closing costsWhen a buyer applies for a loan, lenders are required to provide them with a good-faith estimate of their closing costs. The fees vary according to several factors, including the type of loan they applied for and the terms of the purchase agreement. Likewise, some of the closing costs, especially those associated with the loan application, are actually paid in advance. Some typical buyer closing costs include: The down payment Loan fees (points, application fee, credit report) Prepaid interest Inspection fees Appraisal Mortgage...
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By Our Home Team
(Our Home Real Estate )
15-Year, 30-Year, or a Biweekly Mortgage? In the past, the 30-year, fixed-rate mortgage was the standard choice for most homebuyers. Today, however, lenders offer a wide array of loan types in varying lengths--including 15, 20, 30 and even 40-year mortgages. Deciding what length is best for you should be based on several factors including: your purchasing power, your anticipated future income and how disciplined you want to be about paying off the mortgage. What are the benefits of a shorter loan term?Some homeowners choose fixed-rate loans that are less than 30 years in order to save money by paying less interest over the life of the loan. For example, a $100,000 loan at 8 percent interest comes with a monthly payment of around $734 (excluding taxes and homeowner's insurance). Over 30 ...
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By Our Home Team
(Our Home Real Estate )
Saving for the Down Payment Saving funds for a down payment should be part of an overall program to get your finances in order prior to shopping for a home. This includes rounding up financial records, examining your spending habits, and setting a budget you can live with. Remember, too, that the down payment is not the only up-front expense. An allowance for closing costs should also be included in your savings budget. How much is required?The down payment is usually expressed as a percentage of the overall purchase price of the home, and varies depending on the lender, the type of financing and amount of money being lent. In the past, the typical down payment was 20%, but in recent years lenders have been willing to offer conventional financing with as little as 3% down. U.S. Governme...
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By Our Home Team
(Our Home Real Estate )
Leveraging Your Money One of the greatest financial aspects of buying a home is the ability to leverage your money. Simply put, leverage allows you to use a small down payment and financing to purchase a larger investment. For example, if you bought a $125,000 home with 10 percent down, you leveraged the $12,500 down payment to purchase an asset worth 10 times that amount! AppreciationThe benefits of leverage really become apparent with appreciation, or the rise in value of a property. Using the above example, say you were to live in the house for 5 years, and during that time property values in your area were to rise an average of 2.5 percent a year. Your home would then be worth over $141,000. By putting only 10 percent down, you get to enjoy the appreciation for the full amount! Payi...
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By Our Home Team
(Our Home Real Estate )
How Mortgage Loans Work Excluding property taxes and insurance, a traditional fixed-rate mortgage payment consist of two parts: (1) interest on the loan and (2) payment towards the principal, or unpaid balance of the loan. Many people are surprised to learn, however, that the amount you pay towards interest and principal varies dramatically over time. This is because mortgage loans work in such a way that the early payments are primarily in interest, and the later payments are primarily towards the principal. In the beginning... you pay interestTo help calculate monthly payments for loans based on different interest rates, lenders long ago developed what are known as "amortization tables." These tables also make it fairly easy to calculate how much money of each payment is interest, and...
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By Our Home Team
(Our Home Real Estate )
When Should You Pay Points on a Loan? When it comes to comparing interest rates for a mortgage loan, homebuyers often have the option of choosing a loan with a lower interest rate by paying points. Simply put, a point is equal to 1 percent of the loan amount. For example, with a $100,000 loan, one point equals $1,000. Points are usually paid out-of-pocket by the buyer at closing. Paying points may seem attractive, because a lower interest rate means smaller monthly payments. But is paying points always a good idea? The answer generally depends on how long you plan to stay in the house. Let's look at an example: Bob and Betty Smith are shopping for loan rates on a $150,000 home. Their bank has offered them a 30 year loan at 7.5 percent with no points. This works out to a monthly payment ...
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By Our Home Team
(Our Home Real Estate )
All About Adjustable-Rate Mortgages Adjustable-rate mortgages (ARMs) differ from fixed-rate mortgages in that the interest rate and monthly payment can change over the life of the loan. ARMs also generally have lower introductory interest rates vs. fixed-rate mortgages. Before deciding on an ARM, key factors to consider include how long you plan to own the property, and how frequently your monthly payment may change. Why choose an adjustable-rate mortgage?The low initial interest rates offered by ARMs make them attractive during periods when interest rates are high, or when homeowners only plan to stay in their home for a relatively short period. Similarly, homebuyers may find it easier to qualify for an ARM than a traditional loan. However, ARMs are not for everyone. If you plan to sta...
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By Our Home Team
(Our Home Real Estate )
How Much Can You Afford? Understanding how much you can afford is one of the most important rules of home buying. Depending on your individual situation, your budget can affect everything from the neighborhoods where you look, to the size of the house, and even what type of financing you choose. Bear in mind, however, that lenders will look at more than just your income to determine the size of the loan. Likewise, you may find that there are some creative financing options that can help boost your purchasing power. Loan prequalification vs. preapprovalOne of the best ways to determine your budget is to have your real estate agent or lender prequalify you for a loan. Prequalification is different from preapproval, because it is only an estimate of what you'll be able to afford. On the ot...
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By Our Home Team
(Our Home Real Estate )
Getting Your Finances in Order A crucial step in starting your search for a new home is having a clear idea of your financial situation. By getting a handle on your income, expenses and debts, you'll have a much better idea of what you can afford and how much you'll need to borrow. For lenders to verify this information, though, they're going to need to look at your financial records. It is also important to remember that you should include records for each person who will be an owner of the house. So before you even visit the bank, make sure you'll be able to provide copies of these important documents: Paycheck StubsRemember that lenders are most interested in your average income. Not only will they want to see this month's paycheck, but also how much you've been making for the past t...
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By Our Home Team
(Our Home Real Estate )
Your Credit History As part of the loan application process, virtually all lenders will want to see a copy of your credit report. The report will list all your long-term debts (credit cards, mortgage payments, automobile and student loans, etc), as well as your payment history. If you don't have a copy of your credit report, most lenders will generally require you to pay for a copy when they process your loan application. However, most real estate experts agree that it is a good idea to obtain a copy of your credit report several months before you apply for a loan. This is so you have a chance to resolve any problems with your credit before your bank sees it. U.S. Federal law ensures that you have access to your credit report, which may be obtained from your local credit bureau or any o...
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By Tim Ross
(Re/Max Associates Plus)
November figures show better affordability for Champlin real estate.  The Minneapolis Area Association of Realtors put out monthly figures measuring several key performance areas.  Included in these are new listings, up by 4 units versus November 2006 and up by 19 units year to date.  Closed sales were down by 14 units month over month and 108 units year to date.  Percentage of list price received at closing was .6% for the month and is at 95.7% year to date.  Average days on the market before sale was 135 for houses closed during November.  Also of note is that average sales price has dropped by 5.5% for the year.These factors don't tell us anything new.  Champlin appreciated at unsustainable levels several years and had to correct sometime.  I see Champlin real estate as an excellent ...
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By Our Home Team
(Our Home Real Estate )
Whether you are buying your first home, or your fifth, the process of buying a home is a detailed, time-consuming venture. At the same time, it’s an emotional period laden with difficult choices. You want to ensure that the home you purchase meets your family’s needs now, and in the future. Each of these decisions often involves money. When you consider all that money represents, you’ll want to ensure that you don’t pay too much. This article helps you become a savvy buyer, by pointing out some of the pitfalls inherent in the home-buying process. These include such things as knowing what you want before you begin shopping, taking your time to shop, choosing the right realtor, and remaining objective while viewing potential homes. With this information, you’ll be closer to finding your ...
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