What’s the difference between a Short Sale and a Foreclosure? A Short Sale is when the homeowner owes more than the property is worth, and cannot pay back the difference. They are short of full payoff. Here’s an example: Let’s say the homeowner buys a house for $200,000, with a primary mortgage of $160,000, and […]
If you are looking at a specific house, and want to find out more information than what is on the MLS system, there are free resources that will allow you to find out things such as structure information, assessments, whether the property is in foreclosure, and more. This is public information, and much of it […]
In the Minneapolis / St. Paul and suburbs, the typical process for a foreclosure goes something like this. Upon missing the first mortgage payment, the bank sends a nice, friendly letter reminding them of a missed payment. After another one or two missed payments, the letters get a little less friendly. After 4 or 5 […]
The Star Tribune just published an article on having a shorter commute. Here's a link. I'm in agreement on living in the city. I currently live in a great neighborhood of South Minneapolis with great neighbors, a wonderful character-filled house, and lots of closeby amenities. We can walk to two different parks within 3 blocks, […]
How can you decide on which vehicle is best for you? Is Miles Per Gallon a good way to compare vehicles? Maybe. Looking at Miles Per Gallon will give you an indication of how efficient a vehicle is. There is one downside, however. When you compare a car that gets 35MPG vs one that gets […]
No, I didn't spell CD-ROM wrong. CDOM stands for Cumulative Days On Market. Well, ok. What does that mean? And why do you want to know? CDOM is the total time the house has been on the market since it was originally listed. Here's an example. Let's say the homeowners put their house on the market in […]
What is OLP? In South Minneapolis, we know it as Our Lady Of Peace, a church and school. But OLP in the real estate sense stands for Original List Price. The quick definition of Original List Price (OLP) is the price that a home is listed at when it is offered for sale. This price […]
We've got some character-filled homes in Minneapolis, so much so that I've dedicated a website entirely to the subject. I'll be writing more about these old-style houses on this blog as well. But for now, please visit http://www.HousesOfMinneapolis.com and be sure to leave a comment! On that website, Houses of Minneapolis, we refer to older […]
With gas prices here in Minneapolis approaching $4.00 per gallon, we all are thinking of ways to save gas. Whether it is buying a hybrid car, or just driving less, saving gas is not only helping the planet, but also our pocketbooks. In real estate, we drive between many houses whether it is with buyers […]
It's time again for the annual Minneapolis - St. Paul Home Tour. Each year, this tour features many houses that have been remodeled to inspire you to tackle your own home projects. There are several eco-friendly houses on the tour this year, with environmental-friendly remodeling or environmentally-friendly operation for those wha are looking to be […]
Everybody wants a bargain. Everybody knows foreclosures are bargains. Are they? In this article, we’ll take a look at what happens with a foreclosure. Being in the Minneapolis area, this information is more pertinent to the Minneapolis and St. Paul area houses, although it might apply to other areas as well. But first, here […]
