The Brainerd Lakes Real Estate Blog

Helping make real estate dreams come true How long must I have worked before applying for a loan? Two years of stable employment at the same employer or continuous employment in the same industry. What do I need to have in the bank?  Have 6 to 8 months of PITI (principal, interest, taxes, insurance) in the bank as seasoned funds. What should I not do?  Do not buy a new car less than 6 months prior to applying for a mortgage or make any major purchases using credit. Credit report tip:  Check your credit report prior to applying for a mortgage so you can fix any errors. Places to apply:  Look into getting approved by a FHA approved broker/lender. This will be easier to qualify than having 20% down payment.  If you are shopping for a real estate agent in the Brainerd Lakes area of Minnesota, work with Kathleen Lordbock of Keller Williams Realty Brainerd Lakes, a licensed agent who knows about the current market trends, financing options and credit ...

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 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   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  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  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...

Helping make real estate dreams come true Have you had enough of the out-of-control spending on bailouts and "stimulus" that have sent the federal deficit soaring to $1.8 trillion for 2009 alone -- and even higher down the road -- threatening to bankrupt our nation, destroy our currency, and impoverish our descendants for generations to come ? 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 ...

Helping make real estate dreams come true H ave you had enough of   Obama's crusade to force a multi-trillion-dollar health-care “reform” on America, replacing private health care with a government-run system that will empower federal bureaucrats to make life-and-death decisions about your medical care? 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!

Helping make real estate dreams come true Washington Report: New Consumer Financial Protection Agency by Kenneth R. Harney December 21, 2009 Congress took a major step last week toward eliminating what has been a painful thorn in the side of home sellers, Realtors, home builders, mortgage brokers and appraisers for months. As part of its financial and mortgage industry reform bill, the House voted to terminate the controversial Home Valuation Code of Conduct (HVCC) once a new Consumer Financial Protection Agency begins operations. The new agency would assume primary federal responsibility for equal opportunity in credit, real estate settlement procedures, financial disclosures to borrowers, plus unfair and deceptive marketing in mortgages and other financial products. The giant bill, nearly 1,300 pages long, now heads to the Senate, which is working on its own version. But tucked away in the depths of the House bill is a section that provides unusually deta...