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Minneapolis, MN Real Estate News

By Ben Kolkman, Real Estate Author & REALTOR, Southwest Minneapolis & Edina Minnesota
Good news for buyers and sellers in the Minneapolis real estate market. By all indications our local market has been marching toward recovery and general health all summer. "Twin Cities home buyers posted their 14th consecutive week of double-digit, year-over-year gains" according to the Minneapolis Area Association of Realtors. http://mplsrealtor.typepad.com/theskinny/2011/08/weekly-market-activity-report-3.html Autum will present the real yeast of this trend. As school starts and the cool weather settles in market activity will decline. We will be looking to see how this off season activity compares to past years'.
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By Reuben Saltzman, Delivering the Unbiased Truth.
(Structure Tech Home Inspections)
I don't get hired to re-inspect chimney repairs often, but when I do, I'm often disgusted.  Here's how it works: the home inspector says the chimney needs repair, and the buyer tells the seller to fix the chimney.  The sellers usually hire the cheapest chimney repair contractor they can find... and it's usually an unqualified hack with a trowel. Just as there is a big difference in the quality of work between home inspectors, there is a similar gap in the quality of work between good chimney contractors and hacks.  I'd like to share a couple of our recent encounters with these chimney hacks. The $214 Chimney Re-Build I inspected a home in Saint Louis Park that had a chimney with bricks that were disintegrating, and in need of major repair. Here's what I wrote in my inspection report: T...
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By Reuben Saltzman, Delivering the Unbiased Truth.
(Structure Tech Home Inspections)
The biggest problem I find with boilers on old Minneapolis and Saint Paul homes is leaking exhaust gas.  While every heating contractor knows to look for backdrafting at the vent while performing maintenance checkups on boilers, I've found that many contractors don't bother to check for exhaust gas leaking around the jacket of the boiler, which can be just as serious of an issue. To identify these exhaust gas leaks, I start by just looking at the jacket, or 'cover' of the boiler.  If I find black or brown scorch marks around openings in the jacket, it's usually a dead giveaway that the boiler is leaking exhaust gas. Another obvious sign of exhaust gas leakage at a boiler is heavy rusting in one particular area on the jacket; if you see rusting like the kind pictured below, it's bad news...
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By Ken Graczak, Loan Consultant - Minneapolis / St. Paul
(LoanDepot - NMLS#174457 - Equal Housing Lender)
According to a great article in the Star Tribune the June 2011 pending sales are u pin the Minneapolis Area. Rates are stupid low and combine that with lower home values, this might be the time for you to purchase a home instead of renting.  In the article from the Star Tribune tribune it stated that the median price of all closed sales where at $165,000 which puts you around a $1,200 payment per month.  This includes taxes and insurance, so this would be your payment!  This doesn't take into consideration that you will also get some sort of tax deduction for the interest. If you think you will be in the market to purchase a home you need to start checking it out now.  I have a couple really great links for you to check out. http://iloanhomemortgage.com/borrowers/home-buyers-timeline-an...
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By Ben Kolkman, Real Estate Author & REALTOR, Southwest Minneapolis & Edina Minnesota
Over the period from 2005 to now a change in where the most pricey homes are located has occurred.  It use to be the Southwest Minneapolis, East Edina and West Edina all boasted high price sales on a regular bases.  Now a days its a different story.  East Edina is the only area consistently and regularly putting the high end sales on the board.  East Edina's hallmark neighborhood of South Harriet Park has continued it's rapid redevelopment with tear downs, new construction and renovations, and has homes routinely selling over $1,000,000. West Edina and Southwest Minneapolis however have not been so lucky.  Sales north of $1,000,000 growing less common in these areas. The two maps below show this trend by mapping the top 50 home sales of 2010, and by contrast 2005. In 2005 the top 50 sal...
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By Ben Kolkman, Real Estate Author & REALTOR, Southwest Minneapolis & Edina Minnesota
Minneapolis and St. Paul Neighborhoods are now available on NorthstarMLS Matrix for search and display to help serve you and your clients.  But did you know that almost every Neighborhood has its own Website full of resources for its residents?  Providing this information to your clients buying homes in those cities is a great service. We created a map of the Minneapolis and St. Paul Neighborhoods that links to all of these sites.  Have a client looking at or buying a home in Minneapolis or St. Paul? Send them the Neighborhood Website link! Click here to open the map.  Then click on any Neighborhood to open its Website.
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By Barb Goerss, Helping You With All 14 Moves You'll Make
If you want to buy a townhouse in Minneapolis, chances are you’re looking at every possible angle to make sure you’re getting a good deal and making a good investment. Let me take a few moments to tell you why working with a realtor is the smartest way to go. There are over a dozen good reasons given here, but I’d like to highlight four: Your REALTOR® can assist you in the selection process by providing objective information about each property.Someone who is a trained realtor has knowledge, experience and resources to help you find the right home. The amount of research that you would need to put into each particular home to determine its value and the value of the neighborhood is staggering. Realtors spend their time on these things, and have tons of knowledge on each neighborhood the...
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By Shar Sitter, Home Staging and Redesign Minneapolis/ St. Paul, M
(Rooms With Style)
What Does Your Place of Business Say About You? Home Staging / Redesign in Minneapolis, MN. It doesn't matter where it is, first impressions are always important. Yes, in homes. But what about places of business? I believe a first impression in your office is extremely important. It tells everyone who you are. It tells clients, employees, and even vendors. What is greeting people when they walk into your place of business? Is the place for them to sit and wait something like this? Forcing them to sit close to someone they don't know? Leaving them to wonder if your ideas are as outdated as your furnishings?       Perhaps this may better reflect you, your business, your modern ideas, and who you are.       Does a "dunce" chair in the alcove make an inviting space?       Or would this be a...
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By Shar Sitter, Home Staging and Redesign Minneapolis/ St. Paul, M
(Rooms With Style)
The Fabric that Proved Candice Should Hire Me - Home Staging and Redesign Minneapolis, MN. Last month I did a post entitled: "There is No Doubt In My Mind That Candice Should Hire Me". As many of you know Candice Olson is my favorite designer and I love her new show "Candice Tells All". She explains her inspiration piece behind each design project and shows the mistakes and mishaps as well as the good. As my post described, on one particular show she was designing her Mom's porch and the fabric she selected was the fabric I had already purchased to recover an antique chair in my porch! Plus she added a cast iron fireplace in her Mom's porch which I put in mine year's ago!  Further proof that Candice should hire me. Well, I finally got the chair recovered that you asked to see finished. ...
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By Shar Sitter, Home Staging and Redesign Minneapolis/ St. Paul, M
(Rooms With Style)
Is It Ever Okay to Paint a Room Stark White? Home Staging and Redesign in Minneapolis, MN You know us home stagers, one of our motto's is "Neutral Does Not Mean White". We are always telling our clients: "Paint the room a warm color, it's okay to go a little darker, don't worry." So, I ask again, is it ever okay to Paint a Room Stark White? "Maybe". Ha, Don't You Love That Answer. But seriously, rooms can be all white, soft ivory, etc. It is all in how they are finished off and their purpose. When I say white I don't mean builders white throughout the home. But a room in white or ivory is okay. Let me show you an example. I designed a porch for myself off of my dining room. I designed a room that felt like it was floating in the trees, like you were outside but that you could enjoy even...
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By Shar Sitter, Home Staging and Redesign Minneapolis/ St. Paul, M
(Rooms With Style)
Are Your Kitchen Cabinets Dated but You Don't Have Thousands of Dollars for New? Home Staging and Redesign Minneapolis, MN. As a Designer and Home Stager I come across many kitchens that need updating. Many homeowners want to update their kitchens, either for gaining top dollar when selling or for their own enjoyment. I can't say it enough, "KITCHENS SELL HOMES". Period. A total kitchen update costs tens of thousands of dollars and if you are staying in your home it is okay, spend the money and enjoy it. If you are selling you may be wondering the best place to spend your money to update the kitchen to receive the greatest return on your investment; or you may be staying in your home and want to update but have limited funds and are wondering what you can. I have a suggestion. Paint tho...
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By Shar Sitter, Home Staging and Redesign Minneapolis/ St. Paul, M
(Rooms With Style)
"We Got an Offer Within 8 Hours for Full Price". Home Staging in Minneapolis, MN. What?? That was my reaction when I received this email from a Realtor yesterday. He was letting me know a house I had just staged a few days earlier had already sold. I hadn't even downloaded my pictures yet!!! Woo Hoo!! This house had great charm. Built in the early 1900s. However there were no updates and the back portion of the home had been added on in the 1970s and it was still in original mode. Hunter green carpet in the Master Bedroom and Lovely Blue in the Family Room. The Realtor said: "You made the house look amazing!"  Oh, I like that. When I was asked to stage this vacant home I couldn't wait. Take a look: Love this fireplace or what? And how about the cute windows?  Home Staging brought even m...
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By Jackie Mahaney, HomeSmart Phoenix, AZ Investments, 2nd homes, short sales
Tired of cold winters? Floods, tornados and a wanting to buy real estate in a down market? If you have been thinking about cashing in on the Arizona housing market... now is the time.  Look, prices have not been this low in DECADES- neither have interest rates, by the way. Consider this... you can purchase a brand new- 3 bedroom, 2 bath home in Gilbert, AZ for close to $150,000. These homes are renting out like hotcakes right now for a low of $1150 per month.  That is a return on investment of at least 8%.  If your stock market account could guarantee you 8% for the next 5 years, would you think that's a good deal?  Of course you would!!  Did you know that you can also purchase Arizona Real Estate with old 401K money you may have sitting around?  I can help you open up a self directed I...
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By Barb Goerss, Helping You With All 14 Moves You'll Make
For those looking at foreclosures in Minneapolis, MN, the waters may seem a little murky. Understandably, the fact that home prices have dropped into double-dip territory has some questioning whether real estate is even a good investment. Linda Stern is a personal finance journalist. She believes that there is nothing so unique about the current state of the real estate market that would change the maxim of “Buy low, sell high”. According to Linda in this article: …if you’re thinking of flipping a condo for a quick profit, fuhgetaboudit. If you’re planning to relocate within five years, buying could be riskier than renting. But if you’re raising a family and renting, and have a solid job, you could look back on 2011-2012 as your greatest opportunity to buy your dream kitchen and fave fa...
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By Ben Kolkman, Real Estate Author & REALTOR, Southwest Minneapolis & Edina Minnesota
While other metrics such as median home sale prices, time on market, and inventory levels continue to cause concern, the number of new homes hitting the market each month is falling and that's great news for everyone.  New listings have been down for a long time, no one wants to sell in a down market if they don't have to.  If this pattern continues, eventually inventory levels will normalize. Here in the Twin Cities we have been dogged by oversupply in the housing market for the past 5 years or more.  You can blame which ever crisis you like, the foreclosure crisis, housing bubble, banking, or the economic crisis, all have contributed to oversupply.  And regardless of what happens to interest rates, taxes, or lending requirements, as long as the supply of homes exceeds demand by a larg...
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By Shar Sitter, Home Staging and Redesign Minneapolis/ St. Paul, M
(Rooms With Style)
1907 Was A Very Good Year - Home Staging and Redesign in Minneapolis, MN Minneapolis and St. Paul are filled with older homes, homes with character and charm. I recently staged this 1907 home in Minneapolis. Before staging is was tough to see how the alcove inside the entry could be used.       After staging the buyer can see the warmth of the entry for all who enter.   Before staging the ackward 'L' Shaped living room was a head scratcher.     After staging not only can you see how cozy it can be, but now you actually see the crown molding and incredible lead glass windows!! You didn't even notice them before.   Older homes are usually known for small rooms. Not this house. A 14' x 15' Dining Room not only has room for a HUGE table but you can see there is plenty of room to add a hutch...
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By Shar Sitter, Home Staging and Redesign Minneapolis/ St. Paul, M
(Rooms With Style)
The Most Common Mistakes I See in People's Homes - Part 4What are the most common mistakes people make in their homes? As a Home Stager and Designer I see them over and over and they are quick and easy to fix. Check out Part 1, Part 2 and Part 3 of this series to see the first of the four mistakes I feel are the most common mistakes I see when I walk in to people's homes. The fourth and last in the series is: Artwork Hung too HighI see this all the time. Artwork most typically should be hung at eye level.....eye level for someone at about 5'4''. If you are 6' tall the center of the artwork will be approximately shoulder level.Artwork hung too high is kind of "hanging out there". Pun intended :). It isn't part of the room when it is up in the rafters. You'll be surprised what a few inche...
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By Danny Dietl, Buy, Sell, Lease - iMetroProperty.com
(www.dannyrealestate.com)
  How to Sell Your Minneapolis Home There are a number of things you need to know when you are ready to sell your Minneapolis home. The city of Minneapolis has a required seller inspection called a Truth In Sale of Housing or TISH. This report is required on single family homes and possibly duplexes, townhomes and first time condo conversions. This is a pre-sale inspection which will tell the owner if there are any required repairs that must be made or assumed by the new buyer. It's best to have a clean TISH so the buyers feel comfortable and don't ask for too many concessions because of a long list of items that need to be done to the house. Next you'll want to prepare the home for sale by getting it clean and it showing condition. By that I mean have it decorated in an appealing manne...
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By Sharlene Hensrud, Realtor. Listener. Knowledgable. Patient.
(RE/MAX Results - HomesMSP.com)
Next weekend artists in the Northeast Minneapolis Arts District open their studios for their annual Art-A-Whirl spring art crawl. With over 700 artists in 14 square miles and more than 10 studio buildings, this area is a working arts district at the heart of the Minneapolis arts scene.   Art-A-Whirl is a great opportunity to gain free admission into the working studios of artists working in nearly every medium... including potters, tile makers, painters, sculptors, musicians, photographers, glass blowers, printmakers, and textile designers.  They showcase their art in warehouses, galleries, homes, storefronts and cafes.  Highest concentrations of artists are in three buildings... Northrup King Building (150 artists) - 1500 Jackson Street NE 55413 Casket Arts Building (100 artists) - 170...
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By Shar Sitter, Home Staging and Redesign Minneapolis/ St. Paul, M
(Rooms With Style)
My favorite summertime restaurant is Joe's Garage Restaurant & Bar in Minneapolis, MN     I love, love, love Joe's and here is why:   1) It's hip, it's eclectic, it's fun.   2) They have the best burgers in the world.     3) They have the BEST mash potatoes that are a meal in and of themselves....REALLY!   4) They have the best roof top patio with views of The Basilica Cathedral and the Minneapolis skyline.       Now more about the potatoes. You can build your own Mash Potatoes and here is my favorite: Two Scoops of Mash Potatoes with Red Thai Sauce and Broccoli. It just doesn't get any better. The spiciness of the Thai sauce, the crunchiness of the perfectly done broccoli, the yummy potatoes...need I say more. I know I should branch out more but here is what my husband and I do almost ...
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