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Thursday, October 20, 2011

House Hunt: In Real Estate, Everything is Negotiable

... but don't let the little things cancel your sale.

There’s a saying in real estate that "everything is negotiable," and it’s true. Sellers should reveal before negotiations begin what’s included with the house, and buyers can ask for anything they want on a personal property amendment. This usually means appliances, window treatments, mirrors and the like, but anything is fair game. A rule on thumb is, if you need a tool to remove it, then it belongs with the house—which means that light bulbs are not included but garden bulbs are. Don’t make the mistake of letting little things ruin a sale. Whether buying or selling, pulling an offer because a bit of personal property is included or excluded is more a matter of pride than economics. Here are five more homes on the Mendota Heights-area …

Thursday, October 13, 2011

House Hunt: Condos Get Pet-Friendly

Many associations want to attract pet owners, not push them away.

Surveys show that 84 percent of pet owners view their pets not as property, but as members of the family. Many first-time buyers site wanting a dog or cat as one of the main reasons for buying a single family house. Those buyers who already own a dog insist on a fenced in yard so their four-legged family member can play in the backyard with the rest of the family. But for condo or townhouse buyers, finding an association that accepts pets has gotten easier in the last decade. Associations discovered that not allowing pet ownership was a good way to keep buyers away.  There are nearly 80 million dogs in the United States with 60 percent of owners owning one dog, 40 percent owning two or more. Cats are even more popular with more than 86 …

Thursday, October 6, 2011

House Hunt: How to Take Care of Trees in the Fall

Trees are a big attraction when buying a home in Minnesota.

In most cities in Minnesota, the land available for planting trees is about 90 percent in private ownership. That means that homeowners are the primary caretakers of the urban and suburban forests that make our communities so beautiful. Kent Holman, the community forestry coordinator with the Department of Natural Resources, said that the most important thing to do for trees this time of year is to water them, which help them close their systems. Homan recommends watering young trees at the tree’s base at the equivalent of one inch of rain every week, two inches if the tree hasn’t been watered during the summer. “Large mature trees need to have a drip line at the edge of the canopy,” he says. “Water weekly until the ground is frozen, but …

Thursday, September 29, 2011

House Hunt: Homes for Sale in Mendota Heights Area

From a wooded escape to modern condo living, the area boasts a variety of property types for sale.

Homes for sale in the Mendota Heights area this week: House No. 1: 2341 Apache St., Mendota Heights Listed by: American Home Realty Co. Price: $229,500 Taxes: $1,725 Description: One story single family home; four bedrooms, three baths and 1,867 finished square feet. This updated rambler sits in a quiet neighborhood a block from parkland and with a large backyard that includes a private, roomy deck. The home features a living room gas-burning fireplace and a lower level family room with a wet bar.  There are new windows and a new driveway as well. Both Minneapolis and St. Paul are less than a 15 minute drive away.   House No. 2: 1959 Oak St., Mendota Heights Listed by: Re/Max Specialists Price: $315,000 Taxes: $2,211 Association fee: $345 …

Thursday, September 15, 2011

House Hunt: Buy in Mendota Heights Area with 1951 Mortgage Rates

Mortgage rates lower than they were when many homes were built.

This September, mortgage rates dropped to the lowest point in 60 years. To give some perspective, here’s what was happening in 1951, the last time rates were this low: 1) The average cost of a house was $9,000, the average family income was $3,700, a new car cost $1,500, and gas cost $.19 a gallon. 2) There were 48 states in the United States.   3) Humphrey Bogart and Katharine Hepburn took home Oscar’s best actor and actress for ‘The African Queen.’    4) Soap operas ‘Search for Tomorrow’ and ‘Love of Life’ debut on TV. 5) The first direct dial telephone calls are made. 6) The term “Rock n' Roll’ is first used.   7) "Come on-a My House" sung by Rosemary Clooney is the song most played on jukeboxes. 8) The US armed forces begin racial …

Thursday, September 8, 2011

House Hunt: Homes for Sale in Mendota Heights Area

Read all association documents carefully before closing.

Condos, townhomes, twin homes and other dwellings that are part of associations make up just over half the homes on the market in Mendota Heights, Mendota and Lilydale. Association living is especially popular with young singles or couples looking for an easy lifestyle and with older home buyers who want to downsize and avoid lawn care, snow shoveling, general maintenance and other home chores. When buying a home with an association, carefully read the condo documents—the seller is required by law to provide a copy—and note the rules, regulations, the association finances and the amenities. Association fees can vary greatly as well. For many, living in a home with an association is the perfect lifestyle, but make sure that they association…

Thursday, September 1, 2011

House Hunt: Property for Sale in Mendota Heights Area

Town homes, twin homes, manor homes and highrise condos are all on the market.

For those looking to simplify living without giving up size or beauty, the Mendota Heights, Mendota and Lilydale area has a lot to offer in housing with a variety of condos, townhomes, twin homes and manor/village homes on the market. Association fees can differ greatly and association amenities can include the basics like snow removal and lawn care to party rooms, exercise areas, elevators, tennis courts and walking paths.  When shopping for shared housing, keep your options open, at least at the beginning, until you know what options would work the best for your lifestyle.   House No. 1: 1320 Riverside Lane, #210, Mendota Heights Listed by: Harmony Homes Realty Price: $459,950 Taxes: $4,805 Association fee: $524 Description: Highrise …

Thursday, August 18, 2011

House Hunt: Higher-Priced Homes Still Sell in Mendota Heights Area

A range of listing prices are on the market right now.

While lower-priced homes are selling quickly, so are homes in the $500,000+ range, where many Mendota Heights-area homes are priced. Since the beginning of 2011, sixty-three Mendota Heights-area homes closed. Of those, nine were originally listed above $500,000 and seven of those sold for that amount or more. Most of these homes were off the market in fewer than 70 days. One of these listings sold the first day it was on the market and another, priced for more than $1 million, sold in four days. Right now, a little less than a third of homes listed in Mendota Heights, Mendota or Lilydale are priced above $500,000. Out of this week’s five featured homes, only one is listed above $500,000 and one—a one-bedroom condo—is going at a bargain …

In this Article:

Mendota Heights Par 3 Golf Course and Somerset Country Club

Friday, August 12, 2011

Sold: Buyers in Mendota Heights Look for Price First

Two homes changed hands in Mendota Heights last week.

Mendota Heights saw two homes change hands during the last week, each with a different pricing strategy. The first, a single-family ranch home, was listed at the lower end of what could be considered a reasonable price and was sold the first day on the market. The price accepted, including the seller’s contribution to the buyer’s closing costs was approximately five percent below the list price.   The other, a condominium built four years ago was listed at the higher end of the scale. The condo sold in three months—not bad for a higher-end property—not long after the price was lowered. It sold for about a two-thirds of the original list price, including the seller’s contribution. During the boom, many buyers would find the house of their …

Thursday, August 11, 2011

House Hunt: Mendota Heights Buyers Should Do Some Homework on Mortgage Rates

Mortgage rates not entirely tied to Federal Reserve.

Despite recent decisions by the Federal Reserve not to raise the prime rate until at least 2013, mortgage interest rates can still rise. Mortgage rates are affected more by economic uncertainty and political machinations over issues like the debt ceiling than by decisions by the Fed. Mortgage rates are also determined by a borrower’s credit rating, debt load and income, which determines their perceived ability to pay a set monthly mortgage payment. Buyers who are waiting for home prices to fall further may find themselves not only paying more for their mortgage if interest rates rise, but possibly not qualifying at all for the home they want to purchase. An interest rate increase of only one percent, from a current 4.5 to 5.5 on a $200,000…

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