The 5 things you need to start your house hunt

One of the biggest investments in your life will be a home purchase. Whether you are a first time home buyer, an investor, or you're looking for a vacation home there are five things you need in order to be prepared for a successful home search!

Click here to see homes available in the Twin Cities south metro area.

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 1. A timeline for your move
There are many different variables to consider when you are thinking about a move. Many of these variables are tied to a significant life event such as a job relocation, a wedding, a baby, or retirement. It is so important to time your move so that you can maximize your home search and get the right home to suit your needs.

2. A Real Estate Agent
Do you know the proper steps to secure a home? Are you familiar with the legal forms? Do you have good relationships with title companies, home inspectors, and other brokers? A great agent is one that will take the time to listen to your needs and will represent you in negotiations. They will guide you on your home search to keep you focused on purchasing the right home for you. A real estate agent should be able to tell you what the market conditions are, inform you of each step of the purchase, and should provide excellent service. Your agent should be someone that you will want to refer all your friends, family, and co-workers to!

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3. Pre-approval from a lender
Are you looking to spend $1,000 per month or $4,000? What is your household income compared to your expenses? It's imperative to know your numbers. If you don't know a loan officer personally, I would recommend reaching out to friends or family for their recommendations.

I have been working with Marketplace Home Mortgage and I have been very pleased. They have a 5 day commitment which means that once you fill out an application and provide the necessary documents, they will underwrite your loan in 5 business days to determine if you qualify for a loan based on your income, credit, and assets. This is a huge advantage as a home buyer and can help address any issues that could surface prior to closing.

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4. Money
We all know money makes the world go round and it certainly helps to have money saved when you are purchasing a home. The two things buyers pay for are a home inspection and earnest money.  A home inspection is something I recommend doing as the inspector will tell you about the age of the appliances and mechanicals. The inspection will also go into further detail about the home and will show any items that may need attention.

Earnest money is something you submit with your written offer to show the sellers that you are interested in the home and that you intend to purchase it. Earnest money shows that you have "skin in the game." This is not the same as a down payment. A down payment is money that you bring to the closing table in order to close on the home. The earnest money you provide with your offer will be deposited into an account and credited to you at closing.

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5. Open Mind
The most common things that are important to people are the location and the details in the home such as the number of bedrooms, baths, finished square footage, and style of home. Based on the location, interior details, and price, you may not get everything you asked for. A home is a place where you can feel relaxed and safe. It may not have the granite counter tops you were hoping for or the perfectly landscaped yard, but those are things you can add yourself to make it yours! While shopping for a home is a serious task, you should also have fun with it.

To find your dream home or investment property, please contact me!

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Twin Cities Water Parks

In addition to the 10,000 lakes, there are plenty of water parks in the Twin Cities where you can cool off and have some fun! Before summer winds down in Minnesota, it's time to get out there and enjoy the warm temperatures with the kids.

Living near one of these fantastic water parks has many advantages, especially in the summer months when the kids are out of school. Whether you're looking for a family day, a fun play date idea, or get your teens outside and active, these parks offer fun for everyone!

1.  Apple Valley Family Aquatic Center
The outdoor water park is open from June thru August and the admission is $9 per person. The water park includes water slides, a lazy river, diving board, zero depth entry for toddlers and babies. Swimming lessons are also available. The center also has ample space for picnics or just lounging in the sun. Homes for sale near Apple Valley Family Aquatic Center.

Photo via City of Apple Valley, MN

2.  Cascade Bay Water Park 

There are plenty of things to do and see at Cascade Bay! The water park is located in Eagan, MN and has an admission price of $10 or less depending on your height and age. The water park includes Captain Ship Slides, a lazy river raft ride, miniature golf, lap pool, zero depth entry, and Sand Piper Beach. This water park also offers a variety of classes and camps during the summer months. Homes for sale near Cascade Bay Water Park.

Photo via Acehopper

3.  Valleyfair - Soak City

Valleyfair has been a huge attraction in Shakopee since May 1976. The park has grown each year to include new thrill rides as well as the water park known as Soak City.  Regular admission to the park is pricey at $36.99 per person, however you get access to the entire park including rides, Planet Snoopy, live entertainment, Dinosaur's Alive, and Soak City.  The water park showcases a wave pool, raft rides, splash pad, and body slides to name a few.  Who wouldn't want to spend a beautiful summer day outdoors enjoying Valleyfair? Homes for sale near Valleyfair.

Photo via Valleyfair.com

4. Water Park of America

This indoor water park is the mecca of all water parks, even in the winter! The Water Park of America is located in Bloomington near the Mall of America. It's an indoor space and you can purchase an all day pass for $30-40 depending on the date. Homes for sale near Water Park of America.

Photo via travelandleisure.com

Contact me for more information on any of these great South Metro areas. Now step away from the internet and go soak up the rest of Summer!

  

A day in the life of a Real Estate Agent

A day in the life of a Real Estate Agent...what does that look like? If you are looking for a great agent or are curious about becoming an agent, this is a great tool to give you a glimpse of what we do.

A common misconception is that real estate agents work a few hours a day and spend the rest of their time shopping or on a golf course. This is far from the truth! A full time agent will be working 40+ hours a week to accommodate your client's needs (and happy doing this!)

The first thing I like to do is get up and MOVE!!!

Time to hit the treadmill for a walk or run...it's a great time to clear your mind and mentally prepare for a great day. I find that starting the day out with a workout really boosts my mood and keeps me focused during the day.

The next thing I do is get ready and drive into work.

I love being greeted by our Director of First Impressions, Kelsey. She is an amazing asset and works so hard to help us with everything!

I spend the majority of my morning talking to people who are interested in buying and/or selling real estate. It's great to set an appointment so I can help them reach their goals of home ownership. Most people appreciate the fact that I take the time to walk thru to process of putting your home on the market for sale and explain the process for purchasing a home.

Midday our office has a team meeting, where we discuss industry updates, market trends, goals, and accomplishments. 

After our team meeting, I meet with our Team Leader, Olivia Manson, for one-on-one coaching. She motivates me to reach my weekly, monthly, and annual goals.

My afternoons with clients vary from showing appointments, listing appointments, or closings!   
   

I get to end my day with my wonderful family!

At the end of the day, I am so fortunate to lead my career in real estate. Find all for sale homes in the Twin Cities South Metro to start your home buying experience with me!

4 Steps to Buying a Home - Step 4: Closing

Hiring the right real estate agent will make all the difference in a smooth purchase! Find all for sale homes in the Twin Cities South Metro to start your home buying experience.

Waiting for your home to close can be a busy time! The best thing to do first is to start packing. You have accumulated a lot of stuff in your current home and it takes time to pack these things up properly. A great place to get boxes for moving include:

• Grocery stores
• Craigslist
• Friends or family that have moved recently
• Purchase them from U-Haul or another company

Packing will help you organize what you have and help you decide if there are any items you may need once you move in to your new home. It's not the same space as you have currently, so your needs may change.

Final Walk Thru

A final walk thru is usually scheduled the day before or the day of closing. This will be a short appointment in which you make sure that the home is in the same condition as you saw it at the time you wrote the offer. If there are any issues, your real estate agent will address them with the listing agent and their clients.

Homeowners Insurance

Before you close on your home, you will need to secure homeowner's insurance. This is something that can be pre-paid for the first year out of your pocket or it can be added to a settlement statement. It will protect the home itself, as well as your things inside.

Utilities

One of the last things you need to take care of is setting up your utilities for your new home.  The most common utilities people need or want are:

• Heat
• Gas
• Electric
• Garbage service
• Cable/Internet

A great resource for utilities is to ask the current homeowners for their service providers. Or you can call the city to see who they recommend.

Closing

You're PACKED! You have air conditioning, cable and new amenities waiting for you! Now all you need to do is put everything in writing...it's time to go to the closing table.  Make sure you do your finger exercises so you don't get a hand cramp signing your name a million times! (Ok...that may be a slight exaggeration)

The final step to buying a home is to finalize all the legal documentation so that the ownership rights are transferred correctly and that you have signed the bank papers for the loan. You will get a copy of the documents for your files, collect the keys, and garage door openers if they have them.

4 Steps to Buying a Home: Step 1 - Secure Financing
4 Steps to Buying a Home: Step 2 - Finding the right home
4 Steps to Buying a Home: Step 3 - Writing an Offer


Contact me when you are ready to close on your next home!

You are officially a HOMEOWNER!! Now it's time to plan the housewarming party!
 

4 Steps to Buying a Home - Step 3: Writing an Offer

Hiring the right agent to help you buy your home will make all the difference when writing your offer.

Once you have found the home of your dreams and your financing is pre-approved, it's time to put in an offer. This is a big and exciting decision! Your agent will pull comparable homes in the area to make sure the home is priced accurately and this will help you determine what to offer on the home.

Earnest Money
Earnest money is a small down payment made at the time of the offer to show that you are serious about following the transaction through to closing. You should have money set aside for the earnest money as well as a home inspection before you make an offer. Earnest money is typically $1,000 or 1% of the purchase price and only deposited once an offer is accepted and signed by all parties.

Writing an offer could contain a number of things:

• The purchase price
• Earnest money
• Financing information
• A closing date
• Inspection contingency (optional)
• Seller paid closing costs (optional) 

The real estate agents will negotiate back and forth if there are any items that you or the sellers don't agree on. The negotiations can range anywhere from less than a day to several days depending on the specific details of the offer. Once the price and terms have been agreed upon, you should have a home inspection completed.

Inspection
A home inspection is very important because it will give a buyer an overall report card for the home. It will detail any major or minor repairs that could be made. These concerns can be negotiated after the inspection. 

Find all for sale homes in the Twin Cities South Metro to start your home buying experience.

4 Steps to Buying a Home: Step 1 - Secure Financing
4 Steps to Buying a Home: Step 2 - Finding the right home

Contact me when you are ready to purchase a home in 30-60 days.

Now that the offer has been made, the inspection has been completed, and any contingencies are removed,  you can move toward closing!

4 Steps to Buying a Home - Step 2: Finding the Right Home

Hiring the right real estate agent will make all the difference in a smooth purchase! Find all for sale homes in the Twin Cities South Metro to start your home buying experience.

Once you chose an agent, you can setup a consultation to discuss your criteria. It is important to have good idea of what you need versus what you want.

Make a list of needs you desire in a home such as:

• Location
• Number of Bedrooms
• Number of Bathrooms
• Style of home (ie: Two Story, Split Level, Rambler)
• Price 

A majority of today's buyers start their search online. Click here to start searching homes in your area! There are several websites out there with information on homes, but it is best to have a reliable source that only shows homes that are available today!

Time to Tour!
Work with your agent to chose your favorite 4-5 homes and the agent can request the showings. Some homes will be occupied and others may be vacant - a big factor for short notice showings. Most showings have to be approved with the homeowners so they can leave the home while you view it. This will give you an opportunity to openly talk about the pros and cons of the home.
 
Buyers "just know" within the first 30 seconds when they walk into a home. 

At each showing or open house, you will get a tour of each room, including kitchen, main living areas, bedrooms and bathrooms. You can ask as many questions as you'd like to make an informed decision.

 The buyers agent may relay feedback to the listing agent to help them gauge interest and things that can be improved upon.

After you have toured a few homes and find "The ONE," it's time to go all in and make an offer.

4 Steps to Buying a Home: Step 1 - Secure Financing

Let me know when I can help you find your dream home!

4 Steps to Buying a Home - Step 1: Secure Financing

There are 4 steps to buying a home, the first is to secure financing. Buying your first home should be exciting and fun, but it is important to be realistic with your income first.

The majority of people buying their first home will not be paying cash, so they will need to get financing through a mortgage lender. It's a good idea to talk to a trusted lender in order to see what you are comfortable spending each month.

The mortgage lender will collect:

• Pay stubs
• W-2's
• A mortgage application

The lender is there to guide you through the process and recommend the best loan programs available to you. The lender will also run your credit report to find out how much debt you already have and how this will affect your availability for monthly payments.

Once they crunch the numbers, they can issue you a pre-approval letter based on a suitable loan amount. Marketplace Home Mortgage can even provide you with an approval letter to avoid any glitches at closing.

Conventional Loans: a loan in which you put at least 5% down and finance the other 95%. Conventional financing has a maximum loan amount of $417,000, anything above that amount would be considered a Jumbo loan. This type of loan is usually a fixed rate loan that has a 30 year term and can be obtained from almost any bank or mortgage lender.

FHA Loans: a loan backed by the Federal Housing Authority and has to meet specific conditions. It is the least expensive way to get into a home because you are only required to put 3.5% down. The maximum loan amount for FHA is $318,550 for a single family home.

Some counties offer down payment assistance, which also helps with the out of pocket expenses. Be sure to check with your lender to see what counties offer these programs. Contact me today for an appointment to discuss financing and buying your next home!
 

Find all for sale homes in the Twin Cities South Metro to start your home buying experience. Once you have secured your financing, it's time to look at buying a home!