The Brainerd Lakes Real Estate Blog

Helping make real estate dreams come true Explore Lake Property I don't want to give my home away is an oft repeated phrase as I discuss with prospective home sellers the current estimated market potential of their home. They sometimes follow that phrase up with-" well, we will just hold on to it then" or "we will rent it out". Sometimes sellers can lose track of why they wanted to sell in the first place. Waiting for a year isn't necessarily going to solve their problem. I always like to ask them what will change in a year? Do you think that tenants will leave the property in the condition it is presently? What will the cost of repairs be after a year of renting? Will you be subsidizing the rent, as it may not cover your current mortgage payment and other home expenses such as the taxes, insurance and maintenance. Will you be hiring a management company and are you available at all times to handle repairs and renter issues? What will prices an...

Helping make real estate dreams come true     Have you received a Notice of Default on your property?  What are your plans?  Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact:  Kathleen Lordbock REALTOR/Staging & Short Sale Specialist  Keller Williams Realty Brainerd Lakes Don't just walk away - there is hope, there is help!

CRAVAACK CALLS ON OBERSTAR TO RESIGN AS HEAD OF HOUSE TRANSPORTATION COMMITTEE ST. PAUL -- Congressional candidate Chip Cravaack today called on Rep. James Oberstar to resign as chairman of the House Transportation and Infrastructure Committee because he has failed to take  any useful  action in the two months since an oil well began to poison the Gulf of Mexico. “ During the worst environmental disaster in American history, Jim Oberstar has been asleep at the helm of the House Transportation committee ,” Cravaack, a graduate of the United States Naval Academy, said. “ No skipper has been so slow to act since Joe Hazelwood was sleeping it off in his bunk during the Exxon Valdez crash in 1989 .  It is time for Jim Oberstar to step down as chairman of the House Transportation and Infrastructure Committee.” Oberstar is chair of the committee which oversees the Coast Guard and is responsible for federal management of emergencies and oil po...

Helping make real estate dreams come true     Reuse   By Paige Tepping RISMEDIA, July 15, 2010-       Most of us know the three R’s: reduce, reuse, recycle, but when we work on conserving, we often leave reuse out of the picture. While you can often find tips on how to reuse common products from other people, what you need most is creativity. With a little thought, there are many items around your home that can be reused—toilet paper holders can be used to sow seeds for the vegetable patch, old yogurt containers can be cut into strips to make plant labels and old food jars can be refilled with homemade foods or can make great impromptu vases.      Check out your local Habitat for Humanity's ReStore for some great buys on used or slightly damaged donated new items. They even have stuff that is in perfect condition at perfectly good prices. Have you received a Notice of Default on your property?  What ar...

Helping make real estate dreams come true Getting Ready By Paige Tepping The appraiser will need approximately 30 minutes to one hour to complete the inspection phase of the appraisal process, which includes: exterior photos of the front and rear of the home and a photo of the street in front of the property; measurements of the exterior of the home, garage and any outbuildings; a walk-through inspection of all rooms and levels of the interior of the home including the basement. Get organized. Put together a checklist that will help you get ready for your appraisal and get the results you're looking for. Be flexible when scheduling the appointment. Have a copy of your home’s blueprint to help verify measurements and lot size. Provide a list of improvements made to the property since the purchase. Improvements that should be noted include adding a pool, patio, updating your kitchen or bathroom and any room additions, etc. Allow your appraiser access to the entir...

Helping make real estate dreams come true Have you received a Notice of Default on your property?  What are your plans?  Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact:  Kathleen Lordbock REALTOR/Staging & Short Sale Specialist  Keller Williams Realty Brainerd Lakes Don't just walk away - there is hope, there is help! Can You Prevent Internet Scams such as others stealing listings and posting them as rentals? It would be nice but you probably can not. This is very common on the Internet now days. One scam you may not have heard of involves stealing a listing's for sale information and photos and then the thieves run ads that the house is for rent. They run the ads on free websites like Craigslist. Their hope is that someone out of state might be i...

Helping make real estate dreams come true The Law of Liberty from the Institute for Creation Research July 4, 2010   "So speak ye, and so do, as they that shall be judged by the law of liberty." ( James 2:12 )   On Independence Day, Americans should give thanks to the Author of liberty that we have been privileged to live in this "sweet land of liberty," where we can worship God freely, in accord with His Word. Liberty is not license, however, and the essence of the American system is liberty under law. Fundamentally, that law is "the law of nature and of nature's God"--the natural laws of God's world and the revealed laws of God's Word. Within that framework we do have liberty--but not liberty to defy either the physical law of gravity or the spiritual "law of liberty." The latter is formulated in Scripture and has been applied over the centuries, in the English common law and later...

Helping make real estate dreams come true! Homebuyer traffic nationwide tumbled in May, according to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions. Most of the decline was attributable to first-time homebuyers who sharply reduced their home shopping last month. The survey's first-time homebuyer traffic index, which measures home shopping activity on a scale of 1 to 100, registered an anemic 35.1 in May. This was down from an index of 63.5 in April. Since September 2009, the index had never been below 50, which represents a flat, or neutral, condition in home purchase activity. “The decline of first-time homebuyer traffic is undoubtedly related to the expiration of the federal homebuyer tax credit,” stated Thomas Popik, research director for Campbell Surveys. “Homebuyers had until April 30 to sign a purchase and sale agreement and receive the credit. Once we entered the month of May, the government stimulus disappeared.” Have you ...

Helping make real estate dreams come true RISMEDIA, July 1, 2010--FHA Pros, LLC, a national FHA condo approval service, has developed a list of facts speaking to the top misconceptions associated with FHA loans in order to help home buyers better navigate an already confusing market. FHA loans are mortgages issued by qualified lenders and insured by the Federal Housing Administration (FHA). “We have seen home buyer interest in FHA loans go from practically zero three years ago to upwards of 87 percent today,” said Christopher Gardner, founder and president of FHA Pros, LLC. “Despite this rapid rise in popularity, many buyers still do not fully understand the benefits of these loans, and we believe it’s time to change that.” 1. FHA Loans Are Not Only For Lower-Income Borrowers. FHA loans are available to everyone. In fact, even Bill Gates can get one. There is no maximum income restriction associated with FHA loans. Borrowers do need to substantiate income and asse...

Helping make real estate dreams come true     Consider before you ignore or outright refuse a very low purchase offer for your home. A counteroffer and negotiation could turn that low purchase offer into a sale. When you receive a low offer on your house, the best response is to counter with a price you're willing to accept. Image: Keith Brofsky/Photodisc/Getty Images You just received a purchase offer from someone who wants to buy your home. You’re excited and relieved, until you realize the purchase offer is much lower than your asking price. How should you respond? Set aside your emotions, focus on the facts, and prepare a counteroffer that keeps the buyers involved in the deal. Check your emotions A purchase offer, even a very low one, means someone wants to purchase your home. Unless the offer is laughably low, it deserves a cordial response, whether that’s a counteroffer or an outright rejection. Remain cal...

Helping make real estate dreams come true   By using gas and electric stoves more effectively, you can save an average of $30 per year. Image: Electrolux Spending less money on utility bills doesn’t mean you need to rush out and purchase a whole new suite of Energy Star appliances. With occasional light maintenance and good habits, you can greatly improve the energy efficiency of your large kitchen appliances—up to about $120 annually—without sacrificing convenience. Refrigerator/freezer Energy-efficiency experts tell us to focus our efforts on the biggest energy hogs in the house, and that ...

Keller Williams Family Group News | LinkedIn "Mortgage lenders are apparently being swamped by the demand for homebuyers to close on their home loan by June 30th, which is the current expiration date of the home buyer tax credit. Therefore, the U.S. Senate has voted for a proposal that would extend the tax credit again. Usually, it wouldn't take over two months to close on a home loan. But, it's not normal circumstances right now. In today's world of mortgage finance, every bit of the home buyers information has to be verified and reverified and the home valuation code of conduct is also having to be adhered to by appraisers. Therefore, it's taking much longer to close and time gets stretched out. According to the National Association of Realtors®, there are 180,000 buyers who made the April 30th deadline to have their valid contracts signed. However, without another tax extension, many would not make the last deadline to close by June 30th. So, through...

Helping make real estate dreams come true   Why is the number of short sales rising? Due to the recent economic crisis, including rising unemployment, and drops in home prices in communities across the nation, the number of short sales is increasing. Since a short sale generally costs the lender less than a foreclosure, it can be a viable way for a lender to minimize its losses. A short sale can also be the best option for a homeowners who are “upside down” on mortgages because a short sale may not hurt their credit history as much as a foreclosure. As a result, homeowners may qualify for another mortgage sooner once they get back on their feet financially. Contact me at - 218-829-0339 or email: KLordbock@kw.com Have you received a Notice of Default on your property?  What are your plans?  Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you wa...

Helping make real estate dreams come true   In the last few months, I have met many folks who might be facing foreclosure who are too scared to open their mail,  refuse to contact their lender, and deny the reality of their situation. If you are having trouble making ends meet and making those mortgage payments, know that you have options. BUT... you have many more options available to you if you do not wait until the eleventh hour.   Facing up to your situation now is in your best interest. Then you can move ahead on dealing with it. Call me and we can discuss your situation and you can decide your next plan of action. 218-829-0339 KLordbock@kw.com Have you received a Notice of Default on your property?  What are your plans?  Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and...

Helping make real estate dreams come true   Dangerous Listing Strategies in a Short Sale The growth of short sales (i.e. circumstance where mortgage debt exceeds the fair market value of the house and necessitates the lender discounting the mortgage to effectuate a sale) has reached epidemic portions in Minnesota and throughout the country. As a result, real estate agents are dealing on a regular basis with the myriad of problems associated with short sales. One of the more frustrating aspects of implementing a short sale involves identifying and opening a dialogue with the appropriate representative of the lender in an effort to discuss, negotiate and ultimately secure a discount on the mortgage balance sufficient to effectuate a sale. Between the frustration of talking to voicemail, other than a live body, and the co...

Helping make real estate dreams come true How to Fire Up the Grill from Real Simple Instant-light briquettes are not a good idea. Neither are briquettes doused with lighter fluid. Although it will be safe to eat, the food you cook over fuel-started briquettes can pick up a chemical taste. Instant-light briquettes are made from pulverized charcoal and mixed with additives to make them easy to light and to keep burning. Hardwood charcoal, or charwood ($11.25 for a 20-pound bag, char-wood.com ), lights faster and burns hotter and cleaner than briquettes. That means whatever you cook over it tastes better, too. The easiest (and healthiest) way to ignite a fire is with a chimney starter―a large can open at both the top and the bottom. A wad of newspaper is packed into the bottom; a grill-load of charcoal goes on top. Put one match to the paper and in about ...

Staging Homes to Appeal to First Time Buyers Helping make real estate dreams come true Thanks to TurquoiseDecor for this article We all know that staging a home for sale means turning it into a product that will appeal to the largest cross-section of potential buyers out there. However, stagers are well-advised to bear in mind the likely demographic of potential buyers for a given property. For instance, recently the market was stimulated by the availability of the increased first-time home buyer’s tax credit. Homes of a size and location likely to appeal to first-time buyers need to be staged to appeal specifically to this group of people. Typically, who are first-time home buyers? Usually they are younger singles or couples – often with, or considering, a young family. In order to appeal to first-time buyers, sellers need pander to younger, more modern tastes. The best way to go is fresh, clean, and contemporary. Aside from the usual de-cluttering and thorough cle...

Helping make real estate dreams come true  4613 Pine Beach Road, Brainerd, MN    Send to Friend      Send to Friend 5 bed/3 car Updated finishes, remodeled bathrooms,new exterior doors, designer touches & immaculate. Built in oak hutch in kitchen, custom tile w    5BR/2BA Single Family House         offered at $178,000 Year Built     1988 Sq Footage     2,240 Bedrooms     5 Bathrooms     2 full, 0 partial Floors     1 Parking     3 Car garage Lot Size     2 acres DESCRIPTION The property is updated and totally move in ready. Where else will you find a 5 bedroom, 2 bath, 1 car plus and 2 car plus garage on 2 acres with mature shade trees? Priced far below comparable 4 & 5 bedroom properties but looking far better than the competitions. Immaculate condition and such a great layout - you w...

Helping make real estate dreams come true  Closing Costs Checklist The cost of buying a property goes beyond simply paying the price negotiated between the buyer and seller. If you pay cash, you will probably pay less and close faster. If you are taking on a mortgage, the closing costs involved to complete the transaction can range from 2% to 7% of the purchase price. Fees required vary by state. Here are some of the common fees included in a typical settlement, which will comprise your closing costs: Fees related to a mortgage loan (if you are borrowing to buy):     * Loan origination fee     * Loan discount ("points") - a one-time fee charged by the lender to lower your monthly interest rate     * Appraisal fee* (the lender usually orders an appraisal to determine the value of the property)     * Credit Report fee* (for the lender to research your credit rating)     * Lender's inspection fee...

Helping make real estate dreams come true  Kathleen Lordbock Completes Prestigious LDPD Designation to Specialize in Luxury Home Sales             Kathleen Lordbock a Realtor with Keller Williams Brainerd Lakes has earned the prestigious Harris Real Estate University Certified Luxury Distressed Property Designation (LDPD), having completed extensive training in negotiating and closing short sales for the higher end market. This expertise is invaluable as the current housing recession forces more luxury homes into foreclosure. Short Sale real estate agents need to understand the intricacies of representing clients in the sale of their luxury homes and demonstrate expertise in facilitating confidential transactions. As a representative of the home seller, the agent must understand how to negotiate with first mortgage lenders, second mortgage lenders and Home Equity lines of credit in a Short Sale transaction. “The Harris Real...