Thursday, April 30, 2009

Is Your Mama a Llama Lover? Spend Mom’s Day Learning About Llamas in Washington County

Llamas are cool. I always loved reading the picture book, “Is Your Mama a Llama?” to my kids when they were toddlers. Because of the story, whenever I had to take the kids to visit their doctor in White Bear Lake, we detoured past the two llamas that lived off of Hwy 96 and Ottertail Rd. I don't think they still reside on that property. Llamas are a rare site in the Twin Cities; one you remember after you see them. There used to be another farm in the community of Shafer in Chisago County where I would see llamas peeking over the fence from time to time. They are such beautiful creatures.

On Mother’s Day Weekend, May 9th and 10th there will be an opportunity to get up close and personal with a llama (or two). The 15th Annual
Llama Magic Festival is scheduled to be held at the Washington County Fair Grounds in Lake Elmo, MN. So if you are looking for a chance to walk a llama, learn about how to use llama yarn in crafts or maybe even buy a llama to raise on your Minnesota acreage, stop by!







Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Tuesday, April 28, 2009

Top 3 Big Mistakes Made by Rookie Foreclosure Buyers


As I drive down Lexington Avenue from my Ham Lake home toward Blaine, I often pass a watchful hawk perched on the power line scouting for his next meal. This redtailed bird of prey makes my REALTOR® mind go to thoughts of the some of the buyers I am currently seeing in the Twin Cities real estate market sitting on the sidelines ready to swoop in on a well priced home. In this market that is often a foreclosure or REO home. Unlike the hawk, which is poised for action, instinctively ready to make a kill; a rookie foreclosure buyer is in many cases left without a deal or worse yet can feeling like the prey rather than the one who got the killer deal on a property.

How does this happen? There are many bargains and good foreclosure real estate deals across the Twin Cities metro. I see bargains in throughout Anoka County and in Chisago and northern Washington County too. Affordable homes are everywhere! Even a first time homebuyer should be able to get a good deal, right? Absolutely! But they need to avoid rookie mistakes.

Three most common mistakes made by first time foreclosure buyers:
1. Not knowing when to lowball

Some people have the idea that since they have an abundance of properties on the books, banks would be willing to accept any price offered. This is simply not true. Before a bank puts a home on the market, they send an appraiser out to the home to get a market value assessment. Often the homes are then MLS listed with a REALTOR® and that agent will also advise the bank on the best price to get the home sold. When the foreclosure home comes on the market, it can be at a very attractive rock-bottom price! In many cases the banks will receive multiple offers on well priced homes immediately after listing. In these cases, REO properties are selling for thousands MORE than the asking price. Buyers that lowball in these situations lose out.

2. Not working with a trusted professional

The internet has left some rookie buyers thinking they are real estate experts that can make a good deal going it alone. This is a very scary scenario when buying a foreclosure. The bank's agent works for the bank and often the bank does not allow dual agency. Without representation you are flying solo. Signing a buyer’s representation agreement with a REALTOR® doesn’t cost anything. Think of your agent as YOUR “hawk’s eye” on the market to find you the great deal you are searching for.

3. Not prioritizing pre-approval

When buying a house, the old adage “look before you leap”, should be changed to, “get pre-approved before you look”. This is one of the biggest mistake I see people making in this market as a bank will not consider a home without a pre-approval letter with income and assets verified. (In the case of buying with cash, having a proof of funds letter is essential.) An offer on a bank-owned home will not be considered unless you are pre-approved. If you scout out that killer deal and don’t have the paperwork ready, your offer will be out of the running in any multiple offer situation.

Education is key to making a great foreclosure deal. Watching like a hawk for that great deal is only part of the equation. Having the resources in place and a professional REALTOR® by your side when you swoop in and make your offer is the way to get the deal!



Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Monday, April 27, 2009

Does a Buyer in Anoka County NEED to Take a First Time Homebuyer Class?



People who have never owned a home before are excited about the new $8000 tax credit for first time buyers. They want to learn as much as they can and as fast as they can because this credit is only available for those who buy a home before December 1, 2009. Every day I am talking to excited potential home buyers and friends wondering where they can take a class to learn more about buying a home. They want a class that will fit their schedule and get them out searching for their dream home very quickly.

Well, I will let you in on a little secret. You don’t need to sit in a class on someone else’s schedule with a bunch of others to learn to buy a home. There is no class requirement for receiving the 2009 $8000 tax credit.

What I tell all of my friends and referred clients is that if you are serious about buying a home and taking advantage of this credit, let me be your guide.

As an experienced and professional REALTOR® with hundreds of extremely happy clients, I can educate you quickly on the process of buying your first home and at no cost to you.
Contact me  and request your homebuyer success package. As soon as I receive your information, I will send you a list of seven simple steps to home ownership, a Q&A sheet to address the $8000 tax credit and booklet containing all the information you need to buy your first home. In minutes you will have all you questions answered on the home buying process.




Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Sunday, April 26, 2009

Photo Tour of Como Park Conservatory—Minnesotan’s Favorite Eye Candy!


A visit to Como Park in St. Paul, Minnesota brings back so many wonderful memories. As a kid it was a place for the annual summer family reunion with all of the cousins, aunts and uncles. I enjoyed skipping along the stone walkways, through the beautiful flowers in the Como Zoo Conservatory and begging for pennies from my grandmother and great aunts, Ida and Ann, so I could make a wish in the rock fountain Koi pond. It was wonderful to dream of my future wedding where I would have photos taken in this lovely building.

As a college student, the first warm spring day would inspire many of my dorm mates to join in a jog to the park and around the lake as it was a short distance from the Hamline University campus. My husband and I spend several of our first dates walking around Como Zoo, feeding the bears apples and marshmallows. They used to be in open enclosures and we were told they were former circus bears. If you held up a treat, they did tricks.

Almost every weekend, as a young starving college grad, I would head over to the zoo or conservatory with my nieces in tow to photograph the bears and throw fish to Sparky. It has always been free to visit Como Park and what a great way to spend an afternoon. When I had children of my own, we headed to the year-round flower festival in the
Como Zoo Conservatory in November for a colorful backdrop where we could snap a Christmas photo of the boys.

It had been years since we visited Como Park. Last Saturday, on a whim or maybe it was a bit of spring fever, we decided to visit the park and take some photos of something other than house interiors and exteriors. Many others must have been bitten by that same bug, as the park was full...there were lots of zoom lens and cell phones out for taking photos rather than talking for a change. It was a challenge but I managed to keep the people out of my pictures.

Here are a few of my favorite shots from the flower and plant side of Como Park:







Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Saturday, April 25, 2009

A Spring Walk in the Park in Pictures--A Como Zoo Tour!


A visit to Como Park in St. Paul, Minnesota brings back so many wonderful memories. As a kid it was a place for the Summer family reunion and a destination for school field trips. As a college student, I enjoyed riding my bike around the lake as it was a short distance from my Hamline University campus dorm. My husband and I spend several of our first dates walking around the park, feeding the ducks at the lake and seeing the Como Zoo animals up close and very personal in their original small cages. Almost every weekend, as a young starving college grad, I would head over to the zoo or conservatory with my nieces in tow to photograph the bears and throw fish to Sparky. It has always been free to visit Como Park and what a great way to spend an afternoon.

When I had children of my own, we headed to the year-round flower festival in the Como Zoo Conservatory in November for a colorful backdrop where we could snap a Christmas photo of the boys.

It had been years since we visited Como Park. Last Saturday, on a whim or maybe it was a bit of spring fever, we decided to visit the park and take some photos of something other than real estate for sale. Many others must have been bitten by that same bug, as the park was full...but I managed to keep the people out of my pictures.

Here are a few of my favorite shots from the zoo side of Como Park:



The lions were out and enjoying the beautiful spring weather oblivious to the gawkers above them.


The mama lion was wide awake keeping an eye on the tigers across the way.


The papa lion was snoozing!

The tiger was out and on the prowl!


A sleepy snow leopard opened an eye to watch me snap his photo.


A retired "Sparky" was quietly swimming in lazy circles waiting for the fish food building to open.


I guess trained sea lions don't bother barking unless they can see the fishy treats!



It was still too early in the year for the infamous daily Sparky the Sea Lion shows but his statue stands grandly at the entrance of the aquatic animal building.
The sloth was very "sloth-like"; lounging in a tree in the primate building. (I used a photo editing software to make this appear as a painting.)



And then there was the hungry zebra more interested in dinner than people in the hoofed animal building. It is much better on the senses when these hoofed guys are out of doors and they were very scent-ouous in their indoor abodes!



Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Friday, April 24, 2009

Move-In Ready Foreclosures in Ramsey County! Deals for First Time Buyers & Lakeshore Buyers!

Good news is that foreclosures are no longer always trashed, fixer-uppers. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some still may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.

Here are a few of the lakeshore and high-end treasures I noted on the Twin Cities MLS in Ramsey County this past week:


  • Detached executive town home in White Bear Lake. Master suite, custom kitchen, 2005 blt., assessed value over $475K, bank asking $380K.
  • Bald Eagle Lakeshore. Two story home with attached guest suite& 6 car garage. Assessed by county at over $750K now priced under $460K.
  • Picture perfect North Oaks split level w/lots of windows. Originally listed for nearly $700K now short sale priced at $499K.
Now if you are a first time buyer, here are a few foreclosures you might want to consider. Remember, if you buy a home before December 1, you will qualify for an $8000 credit when you file your taxes. Learn more about the $8000 credit HERE or call me at 651-336-7073. If you need additional help with a down payment or fix up funds and want to live in St. Paul, check out Live MSP.
  • One level town home in Battle Creek area of St. Paul. 2BR/2/BA and 2Car Built in 2002. Sold originally for over $170K. Now bank-owned and under $130K.
  • Maplewood 2story 2002 townhome. Over 1800 ft sq ft. Orig owner asking price $234K, bank asking only $155K.
  • 2006 Townhome near Mall and St. John’s Hospital. Beautiful, stylish. Sold for over $230K but bank priced at under $185K.
  • Mpwd Townhome New Construction Short Sale. Previous asking $290K now priced at $219K.
  • 2005 built rambler near Harvest Park in Maplewood. Sgl fam home on almost ½ acre. Sold for $384K bank asking less than $225K.
  • Near Keller Golf Course’03blt multi-lvl home. 4BR/3BA/3Car with vaulted ceilings and fireplace. Assessed at $347K, bank asking $250K.
  • Almost new single family on St Paul’s East side. Rambler blt in ’06 4BR/2BA.Bank priced under $100K.
  • 3M area executive ’06 3BR THome. Granite counters, Master suite. Owner asked $234K. Bank wants $115K.
  • 2005 blt 2story in Phalen. 3BR/2BA/2Car single fam home with deck. Sold for $205K 4 years ago, bank asking less than $145K.
  • Mac/Grov 2004 built Condo. 2BR/2BA/1Car. Owner asked $334K originally. Bank offering at less than $190K.
Want more information on any of these great foreclosures? Give me a call at 651-336-7073.
If you are in the market for a great deal on a foreclosed home, time to get organized because the rules to buy are a bit different than when working with a traditional seller.
Seven Tips for homebuyers considering a foreclosed home:
  1. Banks LOVE clean offers. Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won't be considered.
  2. Banks reject lowball offers...Usually with no negotiation. They are a business and know the value of the asset they are selling.
  3. Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.
  4. Banks sell homes AS-IS. What you see is what you get. Repairs will not be made.
  5. Banks will not pay for inspections in most cases. This includes the septic system and/or well. Be prepared as all inspections could end up being the buyer's responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500.
  6. Personal property is not included as part of the sale. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don't guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace.
  7. Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank. In many cases, the bank will not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the bank...the listing agent is required to tell the bank everything that you say about your financing and the amount you are able or willing to pay. But the agent is not required to tell you anything in return. The agent works only for the bank.



Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Wednesday, April 22, 2009

Six Essential Spring Exterior Repairs to Maintain the Value of Your Minnesota Home


As the spring real estate market starts to heat up a bit due to excitement over the $8000 first time home buyer credit, many Minnesota homeowners start thinking it's time for the "honey-do" list of spring projects. Keeping your home in tiptop shape is essential in maintaining your property’s value. Even if you don’t intend to sell your home this summer, there are a few essential things to check, repair and or replace after ever Minnesota winter. As a Minnesota Realtor, I see many properties that have not been properly cared for. Throughout Anoka County, Chisago County and northern Washington County, the areas where I work extensively, I have seen houses with interior ceiling damage from leaking roofs, potholed, cracked driveways and decks that are downright scary to walk on.
Surprisingly, these are not all foreclosure homes. It is frustrating to have to make repairs just prior to selling your home. Some traditional sellers are faced with having to sell in this slower market and are frustrated in having to make thousands of dollars in repairs in order to sell due to lack of maintenance. Not making the repairs means being priced to compete directly with foreclosure homes at thousands less than expected. Neither choice is appealing to sellers when values are depressed.

With hindsight being 20/20, many of these sellers lament about how they wish they had chosen to keep the home in better condition all along so they could have enjoyed the benefit of a well maintained home. It is much more beneficial and cost effective to assess your property on an annual basis and make repairs as necessary.

Here are 6 spring maintenance tips that will not only beautify your home, but also aid in retaining your home’s value for years to come:
Roof—Walk around the exterior of your home with binoculars if necessary and check for any missing shingles that may have been blown off during a winter storm. If any are missing or you see other concerns, bring in a contractor to assess the damage and make repairs before you have water damage on the interior of your home.
Siding—Power wash debris buildup from vinyl or aluminum siding. Buildup can stain siding overtime.
Deck Settling—Check for any settling or worn boards on your deck especially if it is several feet off of the ground. If the supports of your deck appear to be pulling away from the home or if the boards are weather-worn, have it reviewed by a professional before that first summer barbeque.

Paint & Stain—Did the harsh winter sleet, snow and ice cause the paint or stain on your siding, trim or deck to start to peel? Now is the time to assess th
e damage.
Gutters—Gutters filled with leaves? Take the time to clean out to prevent water backups. Keeping water away from the foundation is the best way to keep water out of your basement. If your gutters are clogged, they cannot do the job and the rains will pour right over the clogged-gutter’s edge near the walls of your home. Consider adding screens or guards to prevent leave buildup in the future.
Driveway—The winter’s freeze and thaw cycle can do damage to an asphalt driveway. Cracks need to be filled or they will get worse. It is recommended that blacktop driveways also be seal-coated every 2 years when there in an open area with extreme sun exposure to extend the life of the driveway.


Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Saturday, April 18, 2009

Foreclosures on Lakeshore, Acreage and New Construction in Chisago County that YOU will WANT to Call Home!

Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing?

Good news is that foreclosures are no longer always trashed, fixer-uppers. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some still may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.


Here are a few of the treasures I noted on the Twin Cities MLS in Chisago County this past week:


  • 75 feet of lakeshore on Lindstrom’s South Center. Executive lakehome with all the upgrades previously priced at $475K; now listed for less than $260K!
  • Chisago Lakes Acreage! Newer one level 5BR ranch home with pole barn& five acres. Previously listed at $360K now priced at $235K.
  • Brand new 1.5 story log home on 5 Acres in Fish Lake Township. Originally listed for $500K but now sold by the bank for over $200K less!
  • 80 feet shoreline on South Center. New Construction 2 story! 3BR/2BA was almost $800K bank selling for $600K.
  • Modified 2-story in Wyoming on 3 acres 3000+sq ft and 5 car garage. Listed originally at $450K but bank has listed for $315K.
  • Newer North Branch multi-level w/3car on wooded acre. Listed originally for $260K, bankowned price under $160K.
If you are in the market for a great deal on a foreclosed home, time to get a buying strategy put together because the rules to buy a REO or bank-owned home are a bit different than when working with a traditional seller. Good homes at great prices go very quickly so you have to be ready to make your move when you see a deal!

Seven Tips for homebuyers considering a foreclosed home:


  1. Banks LOVE clean offers. Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won't be considered.

  2. Banks most often reject lowball offers...no negotiation. They are a business and know the value of the asset they are selling.
  3. Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.

  4. Banks sell homes AS-IS. What you see is what you get. Repairs will not be made.

  5. Banks will not pay for inspections in most cases. This includes the septic system and/or well. Be prepared as all inspections could end up being the buyer's responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500.

  6. Personal property is not included as part of the sale. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don't guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace.

  7. Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank. In many cases, the bank will not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the bank...the listing agent is required to tell the bank everything that you say about your financing and the amount you are able or willing to pay. But the agent is not required to tell you anything in return. The agent works only for the bank.





Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Friday, April 17, 2009

April 2009 Video Update--Three Indicators is the Charm! Postive News in the Housing Market!

Even though the economy has not recovered, the Minneapolis/St. Paul housing market appears to be making babysteps forward to recovery in Spring 2009. According to the Minneapolis Realtors Association's Monthly Skinny, there are three positive statistics (houses available per buyer, days on the market and original list price received) indicate the Twin Cities housing market is on the right track to recovery. This video update arrived in my inbox on the heels of another article where five experts were asked to select five areas that would see the earliest recovery in the housing market. Economist, James Diffley, selected Minneapolis and “refers to it as the hope of the Midwest!” due to steady population growth and comparatively stable home prices.

No doubt the $8000 first time homebuyer tax credit has fueled the spring market throughout the Twin Cities as things really kicked into high gear just after the credit was announced.

These positive signs are not just limited to Minneapolis/St. Paul and first ring suburbs. The entire north metro is seeing activity and homes selling. Just today, I noticed that several of one of my buyer’s saved favorite homes from Blaine to East Bethel and Wyoming went into pending almost overnight. I am fielding questions daily from excited first time buyers from Anoka County on the specifics of this unique opportunity. (If you have a question call on the program, just let me know with a call or text to 651-336-7073 or just send a quick
email.)

Take a peek at the entire video for a quick update on the Twin Cities housing markets “spring” to recovery…




If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet , Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.



Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Wednesday, April 15, 2009

Happy Buyers Say Thank You for a Job Well Done!



This afternoon I had an email hit my BlackBerry while I was eating lunch. It was from a past client that I had helped find a home in January. They had told me they were please with my service but sometimes the testimonials from clients just blow me away.
A little background....Cheri and Denny called me just after the new year when I was trying to sort out my transfer from my previous broker to RE/MAX. The call came in on a Friday evening. They were out to dinner and discussing a few houses they had seen online and just as they were about to set up an appointment with the listing agent to see the home, they realized what they were doing. They called me and we had set up showings for Sunday. Within days we had seen several homes. They narrowed their choices and we wrote the offer. Within weeks, the home they saw was theirs. As I said goodbye in the parkinglot to them, I told them I wanted pictures of the major renovations that I knew they were starting that afternoon.
Back to today....Here's a copy of the letter. This kind of stuff really makes my day!
Hard to believe but I am finally getting to this! I posted a review on the Incredible Agents site. Feel free to add this testimonial where you like and let me know if I can post it any where else for you! We are exhausted but loving our new place. All new paint and floors and finally moved most of our stuff in.
Here's the Testimonial:
"Teri had previously sold one of our homes and was our first choice when we were looking to find a new home.
Teri was able to help us navigate the current unstable real estate market and went out of her way to help us. She pointed out about pros and cons of neighborhoods where we found potential homes and was eager and willing to work with both of us. She was willing to work out of her normal territory and traveled to meet our needs.
She kept us informed and worked diligently with a difficult REALTOR® to present and negotiate our offer ensuring all the paperwork was presented and in order.
Teri represented our interests throughout the negotiations and closing process. We have been through several real estate transactions this one turned out to be a very smooth, quick purchase we are thrilled with our new home. We I highly recommend Teri for your real estate needs.
Thank you Teri!"
Cheri and Denny L.


Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Friday, April 10, 2009

Hey Harold—Grab that Purple Crayon and Draw a Dream Home!

When I was in grade school, I loved reading the story of Harold and the Purple Crayon. It was a picture book written by Crockett Johnson. I wanted to be like that little bald kid who drew out his dreams in his footy pajamas. Though not fond of the color purple, I always wanted one of those special violet Crayola type sticks to draw what I was dreaming of! Imagine if life were only so simple…





Today many people are sitting on the fence dreaming about their perfect home but aren’t certain that they have the tools necessary to take advantage of this unprecedented $8000 tax credit for first time buyers and amazing affordability in the Twin Cities home market. Maybe they are looking for one of Harold’s purple crayons too so they can draw out a path to a perfect new home…

Draw YOUR perfect REALTOR® Grab that magic purple crayon and sketch out your ideal of a trusted professional REALTOR®. The first step in owning a dream home is to find the agent of your dreams to represent you throughout the process. Make certain to sign the buyer’s representation agreement for with a blue ink pen not a purple Crayola.

Draw Your Preapproval letter. Pre-approval is an important step before you begin looking for a home. It not only determines how much home you can afford to spend on a home, it guarantees that you are ready to write up the offer when you find your dream home. The letter will serve as notice to the sellers that the bank has committed to lend you a specified amount based on your financial history. This gives you significant buying power as a seller recognizes you are approved for a loan. Your professional REALTOR® can assist you in locating a qualified loan officer that will work with you to make your dream home a reality.

Draw YOUR perfect home! Draw YOUR perfect home! Here’s the drawing you have been waiting for...glide that purple crayon across the page and sketch out your dream home. Your perfectly depicted purple REALTOR® will set up an MLS search for homes that meet the needs and price you have drawn up. As perfect homes hit the market, showings will be set to view the homes in person.

Draw up a Purchase Agreement and happy seller! Draw up a Purchase Agreement and happy seller! Use that magic purple crayon to draw up a contract on your dream. Okay the contract will have to be completed in something other than that crayon, but here is where you draw up contract including all of the details such as what you want to pay for the home, what personal property is to be included as well as the date you want to close and move in.

Draw a Qualified Inspector. To be certain that you didn’t miss any important details when you sketched out the beautiful purple palace, draw a home inspector that is qualified to check out your new purchase.

Draw up a SOLD sign. A big purple "SOLD" sign will announce to the world that this is YOUR dream home! It will stay on the sign while the home is "pending" the closing. During this period prior to closing, your purple professionals work closely together to ensure that details such as the appraisal and updating the title are handled in a timely manner. It is your job to use your purple crayon to mark off the days until you get to the closing table!


Draw the Keys to your new front door! Draw the key to your new front door! One final purplish piece of art will complete the home buying process—Sketch up a set of house keys! When closing day arrives, be prepared to attend with your state issued picture identification, a 10 year address history, your checkbook, and all other information requested by the closer. At the end of this hour meeting, you will be handed the keys to your new home.




Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Tuesday, April 7, 2009

Spring Wildfire Danger in Anoka County—This was TOO Close for Comfort!




Yesterday was a beautiful, almost spring weather day. Strong winds were blowing the cold air out and there was a promise of spring weather around the corner for later in the week. Those of use who live in Anoka County near wetlands and prairies realize the windy spring weather has some drawbacks. The winter has left grass dry and dormant. One lit cigarette or untended bonfire can spark a huge wildfire. The Minnesota DNR always has spring fire restrictions and we are always aware of them until that first spring rain. DNR Spring Fire Restrictions.

In the morning we were concerned to hear that a few fires had broken out along Lexington Avenue from Blaine to Ham Lake. Usually along the road the fires are started by carelessly tossed cigarettes but several within an hour along the same stretch of road was suspicious. The fires were contained but when they mention Carlos Avery and fire, I don’t like it at all. We live near the Carlos Avery Preserve. It is a huge area that stretches from Lino Lakes to Wyoming. I know of several homes that abut the preserve and so fires in the area are very scary….Especially on a windy day.

So as I headed down my road a few miles away late yesterday afternoon, imagine my concern as I saw smoke across the sod field in the Carlos Avery area. My commute takes me on Broadway Avenue, a main thoroughfare that bisects the preserve in Columbus. As I travelled east, I knew the danger had not past. The south side was ablaze.






It was frightening. I snapped a few pictures as I approached but figured the deputy directing traffic would frown upon by distracted driving so didn’t get any as I went by the area where the fire was so close I could feel it heat up the inside of the car. I also resisted the impulse to pull over for additional pictures as so many others had.








Wildfires are dangerous and unpredictable; winds change.
It was a scary afternoon. We were diverted on our way home about 10 miles south to Lino Lakes on our return trip. The fire spread. 1500 total acres burned. Friends we know were being evacuated. The smoke filled the air. Fortunately the wildfire was contained without losses of homes or lives. But the scars will remain.





As I commuted down Broadway this morning, the scorched land was still smoldering. A Forest Lake firefighter was arrested in connection with starting the blaze at around 1pm in the ditch along Broadway. The story becomes even stranger when it is revealed that he was a former business owner, award winning volunteer fire fighter, coach. What goes through someone’s mind when they put so many others at risk?
Spring fire restrictions in place for a reason. Heed the warnings.

Fire Facts

  • Approximately 80 percent of all wildfires in MN occur during April and May.
  • The burning of yard debris is a major cause of wildfires in Minnesota.


Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Monday, April 6, 2009

Foreclosures on Lakeshore, Acreage and New Construction in Washington County that YOU will WANT to Call Home!


Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing?

Good news is that foreclosures are no longer always trashed, fixer-uppers. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some still may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.

Here are a few of the treasures I noted on the Twin Cities MLS in Washington County this past weekend:


  • 50 feet of lakeshore on Forest Lake’s first lake. Newer home with over 4600 square feet of living space and under $500K.
  • Executive log home on 5 Acres of Scandia countryside. Previously listed at $600K now priced at $309K.
  • Brand new end unit townhome with master suite in Forest Lake. Originally listed for $297K but now sold by the bank for $169K.
  • New Construction Executive homes in Lake Elmo 5BR/4BA two stories that listed originally at the $1 million mark, now being offered by the bank for $780K.
  • Rambler in Stillwater on 3.5 acre executive estate with 2900 sq ft foundation and 8 car attached garage listed originally at $1.5 million but bank has listed for $650K.
If you are in the market for a great deal on a foreclosed home, time to get organized because the rules to buy are a bit different than when working with a traditional seller.

Seven Tips for homebuyers considering a foreclosed home:
  1. Banks LOVE clean offers. Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won't be considered.

  2. Banks reject lowball offers...no negotiation. They are a business and know the value of the asset they are selling.

  3. Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.
  4. Banks sell homes AS-IS. What you see is what you get. Repairs will not be made.

  5. Banks will not pay for inspections in most cases. This includes the septic system and/or well. Be prepared as all inspections could end up being the buyer's responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500.

  6. Personal property is not included as part of the sale. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don't guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace.

  7. Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank. In many cases, the bank will not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the bank...the listing agent is required to tell the bank everything that you say about your financing and the amount you are able or willing to pay. But the agent is not required to tell you anything in return. The agent works only for the bank.


Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Sunday, April 5, 2009

Anoka County Lakeshore and Acreage Foreclosures—Expect the Unexpected! And in a GOOD way too!

When someone says foreclosure, bank-owned or short sale, what do you expect to see? The proverbial money-pit? Remember that old 80’s movie where everything fell apart and one repair evolved humorously into a huge renovation? Are bank-owned properties, homes that take thousands upon thousands to repair? Will walking in the house require wearing a hazmat protective suit just to walk through the door?

Believe it or not, the answer is no in many cases. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.

Here are a few of the treasures I noted on the Twin Cities MLS in Anoka County this weekend:

  • Ham Lake executive quality new construction home with all the bells and whistles and a view of Lake Amelia for $260K less than the original list price.
  • Coon Lake shoreline new construction two story on the north side of the lake with a wall of windows to view the shoreline and dock at less than half of the original list price. New construction on Coon Lake for under $350K…Amazing!
  • Burns Township bank-owned one story with a 1600 sq ft foundation located Pinnaker Lake in northern Anoka County. This one needs a bit of cosmetic work but is priced at over $170K less than tax value.
  • Five wooded acre paradise in Ham Lake with 3 car attached garage and detached 30X60 additional garage. Priced at $80K less than tax valued. With a bit of elbow grease another gem!
  • Beautiful brick Ham Lake rambler on 2 acres with 1900+ foundation and all the bells and whistles…especially for the mechanic. 4 car attached above ground and 4 car/shop below. The bank is offering this at under $400K!
  • A 2005 built 4 level split on 2.5 acres in Linwood…picture perfect under $275K
  • East Bethel one story beauty on 3.7 wooded acres with 1400 foundation and basement almost finished. This one was built in 2004 and is listed by the bank for under $225K.
  • 4.5+ wooded acres! Andover rambler with almost 1900 sq ft foundation and 5+ bedrooms with pool in move in condition. Bank offering under $400K…over $175K less than tax value.
If you are in the market for a great deal on a foreclosed home, get your ducks in a row because the rules to buy are a bit different than when working with a traditional seller.
Seven Tips for homebuyers considering a foreclosed home:
  1. Banks LOVE clean offers. Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won’t be considered.
  2. Banks reject lowball offers…no negotiation. They are a business and know the value of the asset they are selling.
  3. Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.
  4. Banks sell homes AS-IS. What you see is what you get. Repairs will not be made.
  5. Banks will not pay for inspections. This includes the septic system and/or well. All inspections will be the buyer’s responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500.
  6. Personal property is not included as part of the sale. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don’t guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace.
  7. Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank. In many cases, the bank will not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the bank…the listing agent is required to tell the bank everything that you say about your financing and the amount you are able or willing to pay. But the agent is not required to tell you anything in return. The agent works only for the bank.



Copyright 2009 Teri Eckholm http://www.terieckholm.com/


Friday, April 3, 2009

Lino Lakes, MN Real Estate Market Statistics First Quarter 2009

Looking for a good deal on lakeshore or acreage in the Minneapolis/St. Paul area north metro? Lino Lakes, MN in Anoka County might be just the ticket. First quarter sales have seen sales in the lower price points with bank owned and lender mediated properties impacting the sales. Traditional homes had longer market times but some properties were selling.

Lino Lakes has a good mixture of lakeshore, acreage and townhome residences but is more known for having a bit of space between the houses. It conveniently located near the junction of the 35E and 35W split, just north of the Twin Cities, Lino Lakes is a 33 square miles treasure. With 13 lakes and acres of beautiful protected wetland, the community is served by three school districts;
Centennial District #12, Forest Lake District #831, and White Bear Lake District #624. The gem attraction is the pristine 2,700-acre Rice Creek Chain of Lakes Regional Park Reserve is situated within the heart of the city. Lino Lakes is committed to maintain this treasure and its natural settings and wildlife habitats for years to come.

Lino Lakes single family homes are lingering on the market for about a month longer in this first quarter of 2009. The first quarter cumulative days on market (CDOM) statistic is much higher than for the average CDOM of 2008 (192 versus 160) Looking at current inventory levels and the rate of sales for homes priced under $300,000, there is about 10-11 months of inventory. This does seem a little longer than in surrounding communities. Hopefully things will pick up again now that spring as just about sprung.

While homes under $200,000 in Lino Lakes appear to have about 10 months of inventory, homes in the $200,000- $300,000 price point are looking at twice the inventory and market time. Townhomes are moving even slower with about three years of inventory. High inventory combined with low interest rates and
an $8000 tax credit for first time buyers makes it a great time to consider buying Lino Lakes home.

2008 Average Sales Price of all homes sold in Lino Lakes:

· All Homes $259,826
· Single Family Homes $276,580
· Townhomes/Condos $169,074

2008 Average Cumulative Days on Market in Lino Lakes:

· All Homes 160
· Single Family Homes 157
· Townhomes/Condos 178

1st Quarter Lino Lakes residential real estate statistics for single family homes:


Under $200,000~ 21 Active Listings, 4 Pending Listings, 6 Sold Listings, 84 CDOM

$200,000-$300,000 ~ 46 Active Listings, 3 Pending Listings, 7 Sold Listings, 270 CDOM

$300,000-$400,000 ~ 29 Active Listings, 1 Pending Listings, 1 Sold Listings, 125 CDOM

$400,000-$500,000 ~ 10 Active Listings, 0 Pending Listings, 3 Sold Listings, 223 CDOM

$500,000 and Up ~ 14 Active Listings, 1 Pending Listings, 1 Sold Listings, 275 CDOM

1st Quarter Lino Lakes residential real estate statistics for townhomes and condos:

Under $200,000~ 27 Active Listings, 7 Pending Listings, 3 Sold Listings, 158 CDOM

$200,000-$300,000 ~ 5 Active Listings, 0 Pending Listings, 0 Sold Listings

$300,000-$400,000 ~ 2 Active Listings, 0 Pending Listings, 0 Sold Listings

Lakeshore available in Lino Lakes as of 3/31/2009
4 Active Listings

Lino Lakes lakeshore price range: $265,000-$648,000
1 Home on Baldwin Lake
1 Home on Otter Lake
2 Homes on Reshanau Lake
Acreage properties available in Lino Lakes as of 3/3/2009
15 properties listed on 1-2 Acres priced between $169,900-$799,900.
3 properties listed on 2.1-5 Acres priced between $249,900-$550,000
2 properties listed on 5.1-10 Acres priced between $349,000-$650,000
1 property listed on 10.92 Acres priced at $279,900
1 property listed on 29 Acres priced at $849,900
1 property listed on 80 Acres priced at $6,000,000



For additional information on any current Lino Lakes real estate listing or for additional information on buying a home in Lino Lakes contact Teri Eckholm directly at 651-336-7073.

**All Statistical information sold based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/09 through 3/31/09.


Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Ham Lake, MN Real Estate Market Statistics 1st Quarter 2009

Believe it or not, the unique Ham Lake name wasn't the first choice by the settler's to the area. Incorporated in 1974, Ham Lake became a city after over a hundred years of humble but steady growth. The area was first settled in 1855 by a group of Scottish men on the southwest side of Ham Lake. The original name of the community was Glen Carey, which is the Scottish translation of “beautiful valley”. Following a prairie fire in 1857, the first settlers moved but the community was resettled again. The new Scandinavian settlers had a hard time with the pronunciation of Glen Carey and soon the fledging community was known as Ham Lake...most probably because the lake in the area has a unique "ham-hock" shape. Anoka County officially was recognized Ham Lake as a township in 1871. In the early 1900’s Central Avenue (Highway 65) was a slow commute as it was a wagon trail through the sand and swampland. And we think going through stop light after stop light slows traffic. Though it was graveled and paved at some point, it 1954 before was expanded to four lanes.

Those four lanes are in full use now as more and more people look to buying acreage, executive, luxury and lakeshore homes in the Ham Lake area. The real estate market remains sluggish in Ham Lake, MN like many other Anoka County communities but some homes are selling. There are bright spots across the board with homes selling in all price categories under $400,000. However, new construction sales are at a standstill with zero homes sold in the first quarter of 2009. The average Cumulative Days-on-Market (CDOM) is up for the first quarter in Ham Lake at 249 days compared to 158 for all of 2008 but the numbers appear to be skewed this quarter by a couple of properties that lingered on the market for nearly two years.

Inventory is down in Ham Lake from the levels seen in 2008. There are currently 110 homes active on the market compared to 126 in January of 2008. Homes continue to take months to sell and there are more Ham Lake homes than Ham Lake buyers. Homeowners considering selling a home in the Ham Lake area must consider the average time to sell a home in the Twin Cities north metro is approximately 6-8 months. Right now inventory levels indicate there is about 24 months of inventory. Having your home properly priced and prepared for showings will be essential if planning to sell a home in this Anoka County community in 2009.

First Quarter 2009 Ham Lake residential real estate statistics for single family homes:

Under $200,000~ 35 Active Listings, 7 Pending Listings, 3 Sold Listings, CDOM 381 (All existing homes)

$200,000-300,000 ~ 31 Active Listings, 6 Pending Listings, 5 Sold Listings, CDOM 157 (New Construction Subgroup ~ 1 Active, 0 Pending, 0 Sold)

$300,000-400,000 ~ 29 Active Listings, 4 Pending Listings, 7 Sold Listings, CDOM 283 (New Construction Subgroup ~ 7 Active, 0 Pending, 0 Sold)

$400,000-$500,000 ~ 15 Active Listings, 1 Pending Listings, 0 Sold Listings (New Construction Subgroup ~ 2 Active, 1 Pending, 0 Sold)

$500,000 and Up~ 20 Active Listings, 0 Pending Listings, 1 Sold Listings, CDOM 77 (New Construction Subgroup ~ 7 Active, 0 Pending, 0 Sold)

Lakeshore available in the City of Ham Lake6 Active Listings

Ham Lake lakeshore price range: $235,000-$945,000

2 Homes on Coon Lake
2 Homes on Lake Amelia
2 Home on Little Coon Lake



**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/09 through 3/31/09.





Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Thursday, April 2, 2009

Forest Lake, MN Real Estate Market Statistics First Quarter 2009

Forest Lake, Minnesota is well known throughout the Twin Cities area. Many people from the city remember the northeast St. Paul suburb fondly from years gone by as a summer vacation spot, an annual ice fishing tournament tradition or as a destination when going for a Sunday a drive in the country. Today, the lakeside cabins have been replaced with year round residences, the fishing tourney is but a memory and the farms are few and far between in this third ring St. Paul suburb.

Real estate in Forest Lake, MN in north Washington County and east Anoka County has had a good first quarter for homes priced under $200,000. A total of 26 single family homes were sold in Forest Lake and Forest Lake Township during the first quarter of 2009. The Cumulative Days on Market (CDOM) Statistic ran at 165 days for all homes sold during the quarter which is equal to the CDOM of all of last year. In the first and second quarter of 2008, the CDOM was well over 211-286, so homes are continuing to sell at a faster pace as we start 2009.

Not surprisingly, the price category of under $200,000 is the high point of the year. With 19 listings sold with an average CDOM of just over 5 months, it appears buyers are out there shopping for homes under $200K. The $200,000-300,000 category has slowed a bit with only 3 homes sold but they sold quickly with a CDOM of 42 days. This statistic is more than likely skewed with the small number of sales. It appears that there is over 3 years worth of inventory in this price range but I think this will average out over the next few months.

It appears the high end homes will continue to struggle into 2009 with virtually no sales in prices over $500,000. The bulk of these properties are beautiful executive residences on Forest Lake’s picturesque First Lake. Currently, the Forest Lake community sits with nearly 5 years of inventory in this price range and no relief appears to be in sight.

Great homes are currently on the market in Forest Lake at amazing prices; many are lakeshore and acreage properties. With this much inventory, sellers will need to be flexible on pricing. It might be the perfect time to negotiate a GREAT deal on a lakeshore home!


Lakeshore opportunities have been abundant in the Forest Lake area in 2009! There are more listings than ever before at incredible prices too! The inventory is awesome…35 lakeshore homes are currently active and some are at attractive and affordable price points. Many have been on the market for several months. With the amazing low interest rates and few high pricepoint buyers, it could be a great time to negotiate a deal on your piece of Forest Lake Minnesota shoreline!

First Quarter 2009 Forest Lake real estate statistics for single family homes:

Under $200,000~ 28 Active Listings, 11 Pending Listings, 19 Sold Listings, 158 CDOM (Lakeshore Subgroup ~ 1 Active, 1 Pending, 1 Sold)
$200,000-$300,000
~ 46 Active Listings, 4 Pending Listings, 3 Sold Listings, 42 CDOM (Lakeshore Subgroup ~ 1 Active, 0 Pending, 0 Sold)


$300,000-$400,000 ~ 22 Active Listings, 2 Pending Listings, 2 Sold Listings, 394 CDOM (Lakeshore Subgroup ~ 6 Active, 1 Pending, 1 Sold)

$400,000-$500,000 ~ 9 Active Listings, 0 Pending Listings, 2 Sold Listing, 199 CDOM (Lakeshore Subgroup ~ 6 Active, 0 Pending, 2 Sold)

$500,000 and Up~ 24 Active Listings, 0 Pending Listings, 0 Sold Listings (Lakeshore Subgroup ~ 21 Active, 0 Pending, 0 Sold)

Lakeshore available in the Forest Lake area:

35 Active Listings, 2 Pending Listings, 4 Sold Listings

Forest Lake lakeshore price range:

$199,000-$2,100,000

  • 30 Homes on Forest Lake

  • 2 Homes on Clear Lake

  • 1 Home on Shields Lake

  • 1 Home on Howard Lake

  • 1 Home on Comfort Lake
**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1 /1/09 through 3/31/09.



Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Rent Continues to Rise in Minneapolis & St Paul MN

The September Rent report just released by ABODO shows te average rate to lease a one bedroom apartment in St Paul to be increasing ...