Quick Tips for Home Sellers--Show and SELL during the Holidays!

 
We just had the first measurable Minnesota snowfall so that means the winter holidays are just around the corner. But if what if the house hasn’t sold yet? What should a seller do?

At first inclination many sellers opt to cancel their listing and withdraw their home from the multiple listing service believing that the preoccupation with the holiday season puts the brakes on most home purchases. While many home buyers will be distracted, sellers can be ignoring a real opportunity: ANY buyer looking at houses during the holidays is VERY serious about buying a home. There are not many tire-kickers running around with a REALTOR® when there are presents to buy, cookies to bake and gifts to wrap. November, December and January showings are a seller’s opportunity as most homes that buyers visit at this time of the year are vacant. Quite often, a buyer’s choices are down to model homes, vacated relocation properties and foreclosures. Providing the opportunity for a buyer to visit a home filled with the colorful sights, delightful sounds and wonderful aromas of the season is a great option for those wanting to sell.

Tips for Showing and  Selling During the Holidays

1. Decorate! But don't go overboard with the lights and decor! This is not the time for a Griswold inspired display of lights as in National Lampoon’s Christmas Vacation, but a decorated tree, candles and wreaths can add a special touch.
2. Bake Christmas Cookies. Share a few with the buyers and agents viewing your home. Why should Santa have all of the extra calories?
3. Make sure the fireplace is burning bright, warm and welcoming!
4. Play holiday music. Leave out the nerve-grating "Santa got Run Over by a Reindeer" type carols and go for instrumentals or uniquely Minnesota regional artists like The Blenders.
5. Shovel and salt the driveway as necessary. No one wants to spend the holidays in the emergency room with a twisted ankle and bruised tailbone.
6. Turn the heat up for showings…Show visitors how well the furnace works. Warmth is such a treat after visiting vacant homes with the thermostat turned way down!
7. Leave the front light on! Don’t forget it is dark out during those early evening showings. Make certain buyers and their agents are able to see their way to your front door and open the lockbox.

Copyright 2013 www.terieckholm.com

Which Comes First, the REALTOR or the Loan Officer?

It is often debated, the philosophical question, “which came first, the chicken or the egg?” There are many ways to address that question. (Though my preferred way is to show a lolcat photo of a cat in a chicken hat and avoid the discussion all together.) But really there is no definitive answer.

When buying a house, there is a much less philosophical but equally confusing dilemma, "Which comes first, the loan officer or the REALTOR®?" Both professionals are equally important in purchasing a home but who should a home buyer contact first?

As a REALTOR® I would prefer for a buyer to contact me first. Whether you are a first time buyer or have a property to sell, contacting an agent is an important first step.

If you have a home to sell, the loan officer will need to know an approximate value of the home you will be selling. Of course, you and the mortgage professional can guesstimate. But if the estimated sales price of your current home does not reflect a realistic selling price, you may find yourself short of funds for a down payment.

But even a home buyer without a house to sell could find it easier to contact an agent first. Recently, I was called by a first time buyer who was preapproved with her bank for a first home. She explained that she was going to be buying with a conventional mortgage and showed me the letter from her lender. Something just didn’t seem right so I had her run the numbers with a different mortgage professional that I know who has years of experience. It was a good thing she did. The first loan officer discounted a dispute on my client’s credit report and her limited credit history. She would have never been able to obtain a conventional mortgage. If she had written an offer using the original preapproval letter, her earnest money could have been put at risk if she didn’t qualify for the mortgage.

Home buyers do not always know where to find a good loan officer or what questions to ask to determine the experience level he/she has. As an experienced real estate agent, I have a list of  high quality mortgage professionals I have worked with previously. Experience can prevent most situations from becoming big headaches down the road.

The bottom line is, start with someone you can trust. If you find a real estate agent you trust first, then ask for a referral to an experienced, professional loan officer. Conversely, if you know a high quality mortgage professional that you trust and want to work with, start there. Most REALTORS®, myself included, will work with any loan officer that represents their client in a professional manner. The key is to get preapproved before starting to look for a home. Knowing what you qualify for, down payment required and an estimated monthly payment, will ease the stress when you start viewing properties. It’s hard to write an offer, if you do not know what you can afford!

Copyright 2013 www.terieckholm.com

6 Essential Spring Repairs to get YOUR Minnesota Home Ready to SELL!

It is hard to miss the media reports this spring that REAL ESTATE is back in the Minneapolis/St Paul area!  This good news has many Minnesota homeowners thinking about selling. If you will be listing your home on the market this spring, it will take some preparation and repairs.Even though we seem to be in a never-ending winter this April, it may be time to make the "honey-do" list of spring projects. 

Keeping your home in optimal condition is essential in maintaining property value. Whether you plan to sell your home this summer or not, there are a few essential things to check, repair and or replace after every Minnesota winter. As a REALTOR®, I often have to show 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,  cracked driveways and unmaintained decks that can be downright scary to walk on.
Surprisingly, these are not all foreclosure homes. While I understand it can be frustrating to have to make repairs just prior to selling your home, not making the repairs means being priced to compete directly with foreclosure homes for thousands less.
If repairs had been made in a timely manner and the home properly maintained, this expenditures before selling might have been avoided. 

With hindsight being 20/20, I often hear sellers lament about how they wish they had chosen to keep the home in better condition all along and had more of an opportunity to enjoy the benefit of a well maintained home. It is much more beneficial and cost effective to assess your property for required repairs on an annual basis than to be hit with everything at one time when you sell.
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 and 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 the 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.
  
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Copyright 2013 www.terieckholm.com

Facts about the Minnesota Homebuyer in 2012

Here are a few quick facts to show how Minnesota's real estate market compares to the national home sales. In the 2012 Profile of Home Buyers and Sellers complied by the National Association of REALTORS®, there were a number of interesting facts about our local Minnesota market. When information is reported by the media, it is often the national averages. But real estate is local. Here are few more facts from the 2012 report:


Facts about the Minnesota Real Estate Market in 2012

• 41% of recent home buyers were first-time buyers in Minnesota, compared to a national level of 39%.
• The average age of a home buyer in Minnesota was 37 years old. Nationally the typical buyer was a bit older at 42 years of age.
• Household income of typical Minnesota buyers was $80.600; $2K higher than the national average. 
• 58% of 2012 Minnesota home buyers were married couples compared to a national average of 65%.  
• Interestingly 19% of buyers were single females in Minnesota which is higher than the national average of 16%.
•   In Minnesota, 90% of buyers financed their recent purchase compared to 87% nationally. In both cases the average amount financed was 91% of the purchase price of the home.
• Of Minnesota buyers who financed their homes, 27% found the loan process somewhat difficult and an additional 10% found it very difficult. Comparatively nationwide the numbers were 23% and 17% respectively.
• 88% of Minnesotan's would refer their agent or use them again.
• Minnesota home buyers used a real estate agent 95% of the time; this is 6% higher than the national average.
• 93% of Minnesota home buyers used the internet. This number rises to 97% if under 44. This is higher than the national averages of 90% and 96% respectively.
• Only 10% of Minnesotan home buyers bought new construction homes. This is much lower than the 16% sold last year nationally.
• Detached single family homes made up 73% of homes sold in Minnesota compared to 79% nationally.

So what do these facts show? 

Home buyers in Minnesota are continuing to educate themselves on the real estate market. They are increasingly using the internet for their home search but will retain the services of an agent for the actual purchase. If a home buyer plans to finance their Minnesota home purchase, they know if may be a bit more difficult than it was in years past. They are open to buying townhomes, twin homes and condos but are still cautious on new construction. If their agent does a good job, they will refer them to their friends. 

As a Minnesota REALTOR®, I am not surprised by any of the results in this report. I know home buyers in this area of the country are very astute in the process.  They use the internet in combination with their agent to make informed, thought out decisions on their new home whether is it a first purchase or not. They are loyal and reward good service. And I for one, enjoy helping fellow Minnesotan's navigate the process of buying and/or selling their homes.


Copyright 2012 www.terieckholm.com

Give Me the Key! Why Immediate Possession is a Good Thing in Real Estate

First Time Homebuyer Question What is Immediate Possession?

Today people want everything NOW! There are drive thru windows for quick meals. We communicate with instant messaging and texts. Americans are trained for immediate gratification in our daily lives. As a Minnesota REALTOR® I try my best to get people to slow down throughout the homebuying process. But when it comes to handing over the keys, I strongly recommend my clients ask for immediate possession.

Immediate possession after closings is good  for both the homebuyer and homeseller in a real estate transaction. In Minnesota, time of possession of the property is negotiated.  But it is in everyone’s best interest that the buyer be given the keys to the home at the time of closing along with full possession to access the property.

As a REALTOR® who works with first time homebuyers, move up homebuyers, downsizing homesellers and everyone in between, it has been part of my job to navigate the moving day obstacle course for clients on more than one occasion. From time to time there will be a chain of transactions that all will close on the same day…i.e. The first time homebuyer is purchasing from a homeseller who then goes to the next closing to become a homebuyer, After the second closing, the seller will become the buyer in a third closing…sometimes the chain can be longer too. This "chain of home sales" can have kinks in it when homesellers don’t understand possession they negotiated their move out time at the time the purchase agreement was written.

Minnesota purchase agreements allow the possession time to be negotiated. Whether working with a homebuyer I always recommend that we ask for immediate possession of the property at the time of the closing. When reviewing a purchase agreement with a homeseller, I always recommend giving over full possession to the new home buyer immediate after closing.

In this scenario a homebuyer will go to the final walk through, check out the home,  drive directly to the closing, sign the papers, get the keys and be able to move right in to their new home. The homeseller being completely moved out of the home prior to the walkthrough limits conflicts and/or potential property damage during the move out.

On occasion, a homeseller will request 24 hours or more after the closing to have all personal property removed from the home. An agreeable buyer might think this is being accommodating to the seller but it can cause problems for both parties. Here's why: the buyers now own the home and now the new homeowners' insurance policy in place. What if something of the seller's is stolen? What if the house is damaged by movers? What if the sellers don't get everything out in the specified time frame? How is the situation resolved when there is a loss and the transaction is complete? Unfortunately, there is no easy answer and these situations can get ugly and end up in court.

Here are just a few examples of situations that I know have occured when full possession was not immediate.

1. Pets left unattended in home. Sellers arrived to the closing and told the buyers they would need to stop to pick up the last load of laundry and their dog after the closing. They were going to use the electronic entry on the garage to get into the home. The buyers said okay as they had to do errands prior to moving in. When the buyers arrived to their new home later that afternoon, they had quite a nasty surprise. The seller’s dog had been left unattended in the second bedroom for several hours and had soiled the light colored carpet. The sellers did not clean it up and left as a welcome gift for the new home owners.
2. Irresponsible Previous Owners Though immediate possession had been written into the purchase agreement, at the closing table the homebuyer graciously offer that the homesellers take their time getting their last few items out as they didn't plan to move in for a few days. When they arrived at their new home later in the week, the seller had left all of their garbage inside of the garage and the every door to the home unlocked. Luckily the home had not been damaged but as it was in late August and very warm, it took several days for nasty smell out of the home and the buyer was stuck paying for the trash removal.
3. Squatters! Homebuyers for a large family home were agreeable to allowing an additional weekend for the homesellers remove the remaining personal items to their new home. But when the homebuyers came to get the keys because the sellers were obviously moved out, the sellers refused to relinquish the final set. It wasn’t that they needed more time to get their possessions; they just sat in the driveway of their old home drinking beer with the neighbors for several evenings until the agreed four day possession time ran out. During this time they flat out refused to let the homebuyers into their new home.
   

I could give additional examples but it becomes obvious that, immediate possession is designed to prevent problems. Sure in the first two instances, if a buyer had not agreed to arbitration, they could go to small claims court to get reimbursed for the damaged carpeting or trash removal fees. But those remedies take time and cause additional frustration. After weeks of waiting to move into a dream home, having a previous owner with lack of sense and compassion can make a homebuyer crazy. Immediate possession is the tool to prevent these situations. Concessions can be negotiated at closing if the final walkthrough doesn’t go as planned but once the paperwork is signed, if a problem arises, it will be up to the legal system to come up with a resolution.

So take as much time as necessary when reviewing the details of the homebuying transaction but insist on immediate possession at the closing. It protects buyers and sellers in the real estate transaction. In this part of the home buying process, demanding the keys for immediate gratification is a very good thing! 

Copyright 2012 www.terieckholm.com

Need to Trim Your Oaks? WAIT & Prevent Oak Wilt!

If your oak trees require trimming, it’s best you wait until winter to prevent the spread of oak wilt. Oak wilt is devastating as massive oaks are destroyed when this disease spreads. Smart landscaping and maintenance requires you trim oaks in the winter months—before April in Minnesota. Oak trees should be trimmed in the late fall or winter months. If you have overgrown oak trees, it is important to now wait until after the first hard freeze of fall to avoid exposure to this tree-killing disease!

A few years ago I shared photos of a property in our Ham Lake neighborhood where the owners had dealt with oak wilt for a couple of years…Or in reality chose not to deal with it. In one summer alone, this property lost nearly a dozen trees.  While the beautiful thicket of mature oak trees is now just a memory, the new owners took the initiative to save the remaining oaks and with treatment and proper care lost only one small tree in over four years.

Oak wilt is not just a problem in Ham Lake or Anoka County. It is prevalent in communities from Lino Lakes to North Branch and Forest Lake to Stacy. Whether you live in Anoka, Chisago or Washington County, if you have oaks on your property, you need to take precautions to protect them from this deadly disease.

What is Oak Wilt?

Oak wilt is a disease caused by a fungus which attacks the central system of the tree from the roots to the leaves. The tree attempts to block the fungus, but also blocks all water and nutrients to the branches and leaves. Eventually, the trees leaves wilt and it dies.

Oak wilt spreads through the root systems of near by trees and by fungus beetles that carry the oak wilt spores from tree to tree.

How to Protect Your Trees

The fungus beetles infect trees that have been recently injured or trimmed. These beetles are very active in the spring and summer months. Oaks should be protected from damage and not trimmed from April through July.

Trim large mature oaks now. As a preventative to spring storm damage, have your large oaks trimmed now so that heavy, dead branches won’t fall during tornado season and break other healthy limbs.

Tree trimming of mature oaks is best left to professionals especially near the power lines. The trimmer should use a bucket truck or a line/pulley system, NOT spiked climbing boots which can damage the tree.

Selling a Home with Oak Wilt?

Disclose, Disclose, Disclose! A seller might be tempted to cut down a diseased tree and not say a word to the new buyer. This is a terrible idea and could cause problems after the sale. Even if a seller doesn’t say anything about oak wilt infected trees that were removed prior to listing the home, I’ll bet the neighbors will. Cutting a tree diseased tree does not prevent the spread of oak wilt. It is likely other trees are infected. If more trees die and the buyers were not properly informed, the seller could be in a legal battle with an irate buyer.

Here is the bottom-line:There is a question regarding diseased trees on the Minnesota Sellers’ Disclosure Form. Fill it out properly and be prepared to remove the diseased trees properly and safely, if asked. It is never a good idea to not tell the whole truth on the property disclosure form.

Copyright 2011 www.terieckholm.com

REALTOR Operating on Cruise Control? Not in a Minnesota Winter!

Okay, I’ll admit, this Minnesota girl found out just recently a year or so ago that cruise control was a no-no when the snow is flying. It is surprising even to me that I didn’t know this as I learned to drive in the winter but the cars I learned on didn’t have the cruise option. Now I do have it and I just never gave a thought to how dangerous it would be to hit ice with the cruise on….until it happened to me. No accident, thankfully…just a wake-up call. I know better now and when I am white-knuckle driving in snowy weather, I manually adjust the speed while I keep focused on driving.

I wonder how many REALTORS® felt a bit like they hit ice when the housing market took a nose-dive a few years ago? Bet they were cruising along doing the same-old, same-old when it came to their listings: Put in the MLS with a few good pictures and stick a sign in the yard and wait for the buyers to arrive. Operating on cruise worked pretty well when buyers were plentiful. Unfortunately, I realize some agents still are on auto-pilot and when a listing crashes and burns; it is the homeowner that pays the price.But like driving in a Minnesota blizzard, a good REALTOR® will shut off the cruise control and create a unique plan to aggressively market your home in this changed real estate landscape. Here are just a few of the things I have changed during the last few years when I shut of my cruise control to get my clients listings SOLD.

Blogging about the Home—Writing up a blog with features to excite potential buyers about the property. It also helps internet searchers find information on the home by the address.
Virtual Tours—People love to view the interior and exterior of homes on a virtual tour of the home…even if it is just a slideshow of photos.
Dozens of interior and exterior photos—It takes time in this market for homes to sell. Photos should be reshot when the seasons change.
Staging Recommendations—A good agent is going to want you to put your home in it’s best light before the first potential buyer walks through the door.
Pricing Advice—Traditional sellers need to understand how their home will compete against area foreclosures and lender-mediated homes. Finding the right listing price is essential to getting a sold sign on the door.

I create a unique marketing plan for each of my listings taking into account its location, price and unique features. If you are thinking of listing your Anoka or Washington County home and want an agent that is not on auto-pilot, give me a call.

Copyright 2011 www.terieckholm.com

Happy New Year 2011! Real Estate Resolutions for Home Buyers and Sellers in Minnesota

During the past decade we have experienced some highs and lows in the real estate market in Minneapolis, St. Paul and the extended Twin Cities suburbs. In the later part of the decade, home sellers began to count market time in months rather than days. Home buyers stayed hidden in the woodwork coaxed out only by extremely low prices on bank-owned foreclosures and tax credits offered by the government. We have been through the proverbial wringer during the past ten years, with terms like short-sale and REO that were once seldom heard when describing Minnesota real estate creep into the media on a daily basis. And then there is that abundant inventory...In every price range and most locations there are several OPTIONS at all price points on the market. Town homes, single family, split levels, ramblers, two stories, remodels, foreclosures, short sales and new construction. No longer flying off the market as soon as they were listed as in the early 2000's. The bubble popped and we are working our way toward recovery.

As a REALTOR® working in Washington and Anoka Counties, including Ham Lake, White Bear Lake and all communities in the Forest Lake School District, I keep a close eye on the Twin Cities real estate market. During the last few months of the year, I noticed bit of a change in the wind. Activity was starting to pick up and inventory is leveling off. Sellers that need to sell choice to price their homes attractively to entice buyers. Buyers balancing for months even years at the top of the fence jumped into the real estate market and wrote purchase agreements. Negotiations were made and offers accepted. The Twin Cities real estate market took one baby step toward forward at the end of 2010.
So what does that mean for those considering purchasing a home or selling their property in 2011? From Ham Lake to Forest Lake and East Bethel to East St Paul we have a strong foundation in our real estate market. Our communities have long been some of the most affordable areas in the country. With continued low interest rates, there will be opportunities to buy a Minnesota home. Even lakeshore and acreage has become more affordable. As we move forward into 2011, we should all Resolve to be Real Estate Savvy!
Resolutions for Sellers
*Team up with a professional REALTOR®
*Price your home correctly from the start
*Make all repairs
*Declutter
*Make each showing count by staging the home for sale.
*Be willing to negotiate.Resolutions for Buyers
*Team up with a trusted REALTOR®
*Get Pre-approved and check in with your Loan Officer regularly to discuss market changes.
*Write realistic offers that encourage negotiation.
*Understand the foreclosure and short sale process—While prices can seem like a deal, the assumed risk to buyers on an as-is sale can be great.
Resolutions for Homeowners

*Even if this isn’t the year for you to sell, there are things a homeowner should be doing to maintain and retain property value.
*Maintain the interior and exterior of your home and make repairs on a continual basis rather than deferring to time of sale.
*Stay current with your mortgage and discuss any financial problems with your lender immediately.
*Be a good steward of your neighborhood.Resolutions for Investors*Team up with a professional REALTOR®
*Take advantage of the abundance of foreclosures that are continually hitting the market.
*If holding the property, offer a safe and maintained residence at a fair price to the renters
*If flipping or repairing/reselling the property, be realistic with the numbers. Don’t over invest in materials and curb enthusiastic inflated resale estimates. 2011 buyers are market wise!
*Be a good steward of your properties and the communities in which they are located.
*Maintain the properties to retain value for portfolio as well as the neighborhood.

If buyers, sellers, homeowners, investors and real estate professional alike work together to maintain slight momentum in the market, 2011 could be another babystep forward toward recovery in the Twin Cities real estate market. 

Copyright 2011 terieckholm.com

After You're Done Shoveling, Start Raking!—Ice Dams are Preventable!

With the 16 plus inches of snow we were blessed with in Anoka County this past weekend (and even more in Washington County to the south and east) it looks like we are in for a good old fashion Minnesota winter. Heading to grandmother’s house this holiday, will take us all over lots and lots of white and drifted snow.

The snow is pretty for photos and fun for snowmobilers, skiers, boarders and sledders but not so great for our houses. With accumulated snow well into the foot range already, there is another necessary chore to add to the list to avoid homeowner headaches that come with the snow melt. We have to remove the snow from our roofs!

Though a shingled roof won’t pop like the Metrodome did over the weekend (CLICK HERE to View), ceilings have been known to become waterlogged and collapse under the stress of too much snow and ice dams.

Avoid ice dams and rake that roof! Yep pull that funny looking backwards shovel with the extension pole out of the garage and carefully pull off the snow. Ignoring the problem could cost thousands of dollars to repair the damage to roof or interior due to ice and water when that foot of snow starts the freeze/thaw cycle over the next few months!

So how does a roof rake work? Carefully raise the rake over the edge of the roof as far back as the rake will reach and pull down the snow. Be certain to wear a hat, boots and gloves as most of the snow WILL land very close to you….if not right on your head! It’s not hard to do if the snow is fluffy. Even a novice like me can handle a roof rake.

Don’t have a roof rake? This is the year to buy one! It’s only a $20-30 investment and the pole is in two sections for storage. Not a do-it-yourselfer? Or have a two story home where the rake won’t reach? Call in a professional to remove the snow. This is not the year to ignore the snow and hope it won’t be a problem. It looks like we are in for a long snow-filled winter so take action now. Ice dams are preventable!

Copyright 2010 Teri Eckholm

Home for Sale During the Holidays? 7 Essential Tips for the Holiday Homeseller!

Summer is long over and with Halloween now come and gone it is time to pack up the pumpkins and fall decor too. Home sellers so excited this spring that this was THE year to downsize from their family home or upgrade to something larger are more concerned over the upcoming holidays than the extremely low interest rates that enticed them to list their home in the first place. Many are now wondering whether they should take a break from potential showings and just enjoy the upcoming holidays without concerns of whether the home is "showing perfect". So,what should a home seller do?

At first inclination most sellers opt to withdraw their home from the market believing that the preoccupation with the holiday season puts few buyers in the market. While there is a bit of truth to this belief, sellers can be ignoring another more important truth: Buyers who look for houses during the holidays are VERY serious buyers. Savvy buyers know that the extremely low interest rates will not be around forever. And, there are not many tire-kickers running around with a REALTOR® when there are presents to buy and gifts to wrap. November, December and January showings are a traditional homeseller’s opportunity as many homes that buyers visit at this time of the year are vacant. A buyer’s choices are down to model homes, empty relocation properties and foreclosures. A welcome home filled with the colorful sights, delightful sounds, wonderful aromas of the season give a unique opportunity for those wanting to sell. Picture how inviting a warm home with a crackling fire in the hearth and a tree full of twinkling lights will appear to a homebuyer after seeing house after house that is cold, dark and vacant. It will feel like an oasis! Sellers serious about selling, will keep their homes on the market!

Tips for Showing & Selling During the Holidays

1. Decorate! Tastefully of course. This might not be the year that you do the Griswold display of lights as in National Lampoon’s Christmas Vacation, but a decorated tree, candles and wreaths can add a special touch.
2. Bake and leave out Christmas Cookies. Why should Santa have all of the extra calories?
3. Make sure the fireplace is burning bright, warm and welcoming!
4. Play holiday music. Forget the classic kiddie favorites like Jingle Bells and Rudolph. Go for instrumentals or uniquely Minnesota regional artists like The Blenders.
5. Shovel and salt the driveway. No one wants to spend the holidays in the emergency room with a twisted ankle or broken hip.
6. Turn the heat up for showings…Show them how well the furnace works. It is such a treat after visiting vacant foreclosed homes!
7. Leave the front light on! Don’t forget it is dark out during those early evening showings. Make certain buyers and their agents are able to see their way to your front door and lockbox.

Copyright 2010 Teri Eckholm

Selling an Acreage Home? You have to Walk the Walk or at least the Property!

I met with a potential client awhile back. He was interviewing real estate agents as he was going to be relisting his Anoka County acreage home that had been unsuccessfully under contract for a year. As part of my job as an acreage REALTOR®, I walked with the seller around the house, through the barn and looked out the barn’s backdoor at the 30+ acres of woods and wetland. Looking out the door, I asked if there was a path that goes through to the perimeter of the land so buyers could walk the property. He confirmed that there was but then said something else.

“The previous agent never stepped one foot further beyond where you are standing now to see the land. I don’t think he wanted to get his shoes dirty.”

Wow! I was flabbergasted! How do you sell a home on acreage without walking the land to see what you are selling? And this agent had over 12 months to take that walk too! It was no surprise to me that the home did not sell.
Selling a home on acreage isn’t rocket science. But like rocket science, there is research and work involved. From getting the septic compliance checked to understanding what a Minnesota unique well number is, there are details that need to be reviewed when an acreage home is listed. Preparing the exterior is kind of like staging the inside of the home. Marking a trail for the potential buyer to follow sets the stage for the buyer to fall in love with the entire package. A significant portion of an acreage home’s total value is often tied up in the value of the land. Buyers need to see the land, online and in person, in order for the home to sell.

A few weeks later, I did list that house. When I came to take photos not only did I take the basic interior and exterior shots, I took additional time and walked the land with the seller. During the tour of the land, I took photographs that showed the appeal of the acreage. He pointed out landmarks and details that would buyers would want to know about the property. I took photos from various points along the path. Interestingly, many of the potential buyers who called to see the land also walked the land with me and remarked that they remembered the shots as ones they saw on the internet. These pictures were important as they created excitement about the property and were photos that could never have been seen from the backdoor of the barn or home.

The home was SOLD. Not to a buyer that I brought through the home and property, though I walked several parties through the acreage over the time it was listed. It was sold by another REALTOR® who was able to take his buyer along the mapped and marked trail through the acreage. Whether selling a couple of acres or the back 40 or more, preparation is the key to a successful Anoka County acreage sale!

Copyright 2010 Teri Eckholm 

Attention Homeowners! Essential Fall Maintenance or "Honey Do" List

There was a nip in the air this morning. Leaves have turned gold, red and yellow and now are blowing all over Anoka County. The fallen acorns have attracted white-tailed deer as they feast in Ham Lake, Columbus and Lino Lakes backyards. It is time to get those autumn chores done to protect our home and investment from the winter ahead.
As a REALTOR® in the Twin Cities metro, I know how important it is to maintain a home in throughout the year. Winters can be mild or brutal in Minnesota depending on the year. Whether the Almanac or the weatherman predicts a few snowfalls or many blizzards, getting your home ready in the fall can prevent winter damage and costly repairs in the spring.

Here are a few reminders of repairs and preventive maintenance tips for all homeowners to consider do every fall:

1. Clean Gutters of leaves and other debris that might clog the drainage. A blocked gutter can cause an ice dam when the snow flies.


2. Winterize the lawn tractor or mower and get that snowblower tuned. If you have a plow service, make contact and update your contract prior to the first snowfall.


3. Change security lightbulbs in hard to reach outlets. It would hazardous to climb ladders to reach the tip of a garage over an icy driveway.


4. Unhook, coil and remove hoses from water spigots. Turn off and winterize sprinkling systems. Turn off water to outside spigots if not frost-free to prevent burst pipes in subzero temperatures.


5. Have the annual furnace cleaning and tune-up to be ready for those first cold evenings. Remember to change the furnace filter every month for best efficiency…even if the packaging says “6-month filter”. QUICK TIP: Change filter when you make your monthly mortgage payment so you don’t forget.


6. Check all windows and doors to see if new caulk or weather-striping is needed.


7. Fall is the perfect time to paint with the low humidity and crisp breeze. Check deck, siding and trim for peeling paint.


8. Fall is the last chance to seal the asphalt driveway prior to winter freezing. Fill cracks and topcoat if necessary.


9. Inspect the roof for missing or damaged shingles. Verify that the flashings are sealed from rain and snow.


10. Snap a few fall photos while the mums and trees are vibrant with color! Golden yellow oak leaves and vivid red sumacs will look awesome in the local MLS if you decide to sell your home over the winter.

Copyright 2010 Teri Eckholm

I Can Hold My OWN Hand!

Several years ago, just as we were about to step off the curb into the busy parking lot of the local Target, I attempted to take the hand of my almost three-year-old son when he announced to my husband and I, “I can hold my own hand!” And being obstinate and two, he did.

He put one chubby little fist inside the other behind his back and attempted to step off the curb and into traffic. Realizing his need for independence, we explained the dangers of his actions to him. (Hey Buddy...Drivers have no way of seeing a tiny person below their windows as they back up their cars.) We compromised. He was allowed to hold his own hand everywhere except busy parking lots and when crossing the street. Then he would be required to hold mommy or daddy’s hand or hang on to the stroller for his own safety.

That precocious son will be heading off to college in a few weeks and the mom in me is again struggling as he “holds his own hand” and steps of the curb into his future. He doesn’t need mom or dad to help with many things anymore. He is well prepared for the real world or at least this next part of it.

Holding your own hand is good in life but there are times when one must rely on a professional to help them through a new or difficult situation. As a real estate agent, I realize most clients want to “hold their own hand” through a transaction with the knowledge that when they will need to “step off the curb” I will be right by their side there ready to explain and guide them through every step of the process. Whether it is a question from a home seller at the time of listing the house about whether they should start looking for another home now or wait for an offer or a first time home buyer wondering whether a townhome or single family home would be a better investment, I am there ready to educate and assist. A good REALTOR® knows it is important for the client to make the decisions—it is our job to guide and educate our clients through the home buying or selling process.

Are you ready to step off the curb and need a good REALTOR® by your side?

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 2010 Teri Eckholm 

Essential Final Walkthrough Checklist for Homebuyers

With the tax credit timeline to close coming up quickly, there are going to be many closings on properties for first time homebuyers in the next few weeks. Before the closing, there is one essential step that must be taken with your REALTOR®: The Final WalkThrough.
A few days before closing, your agent will call to schedule the date and time of the final walk-through. Don’t get caught up with thinking, "This is great! I needed to check the paint color in the bedroom and measure the windows for blinds." That is not what the final walk-through is for. This is the last opportunity for you to see the home prior to closing. It is an appointment not to be missed or glossed over. It is a time to stay focused on your investment and examine the condition of the property one last time.
The purchase agreement that you signed in the state of Minnesota requires the seller to warrant that the central air conditioning, heating, plumbing and wiring systems on the property are in working order on the date of closing. It also insures the buyer the right to a "walk-through" review of the property prior to closing. This is not something to forego.
Awhile back there was a news report of a St Paul couple who made a huge mistake when they skipped the final walk through of their new home. They headed to their new home, keys in hand with all of their belongings in the moving van, directly to their new home after they signed their closing documents. Their intentions were to move right in and begin enjoying their dream home, Instead they arrived to find a nightmare.
Sometime since they first saw the home and the time they drove up with the keys, a pipe had burst and flooded the entire home. Water poured into the house for several days and they found a virtual indoor swimming pool instead of a home. This young couple had considered the final walk-through unnecessary since they had just seen the home a few weeks ago. “What could have changed?” was their misguided thinking.
Now they were the proud but frustrated owners of a huge mess. Although they may have legal remedies for having the home repaired, these buyers would have been in a much better position if they negotiated with the seller prior to signing the closing documents. Or in the case of this extreme damage, the buyers could have refused to sign and not purchase the home.
It is imperative that every buyer do a final walk-through on the property they intend to purchase as close to the closing as possible. I suggest to my clients that we schedule the walk-through an hour or two before the closing appointment. We meet at the home to review the condition of the property and then go directly to the closing. If any problems are noted, I immediately contact the seller's agent via cell phone so he/she will have time to discuss the situation with the seller and determine alternatives to address the issues.
The walk-through just prior to closing doesn't eliminate every surprise that a new buyer might face. But it significantly reduces the chance of closing on an unknown disaster. Here is a quick guide of some of the areas to consider during a final walk through:

Final Walk-Through Guide
Double Check the Paperwork**Are all work orders complete? Are you satisfied with the results?
Exterior Review**Check for any changes to exterior since purchase agreement.
Plumbing Review**Flush all toilets.
**Check all faucets for water pressure and temperature.
**Check operation of all appliances
Interior Rooms Review**Check for any changes to interior since purchase agreement.
Electrical Review
**Check all lights, outlets, bathroom fans and kitchen fans.
Furnace and Air Conditioning Review**Check operation of all systems.
Attic and Basement Review
**Check for changes in any stained, damp or wet areas.

The final walkthrough should be done with a complete checklist and organized plan. After a review of the home inside and out with a checklist will get you back to exciting part of that final walk-through...Will the couch look better here or there?

Copyright 2010 Teri Eckholm

Decorating 101--Unique Can Devastate YOUR Home's Value!

I read an interesting article this morning…Extreme Makeover is downsizing their dreams after many of their families have begun to lose their homes to foreclosure. (Read Extreme Makeover story HERE.) Of course as a REALTOR® I was not totally surprised. People who were struggling to maintain a small home would have extreme difficulties managing the enormous bills of a super-sized one. It is just logic. And what if someone has to move? Who else would want the over-built house with the very unique and personalized bedrooms?

Reality television home improvement shows are no doubt fun to watch. It is amazing to see a small room or entire home transformed into a show place. I have always taken issue with unique decorating ideas…many hurt the value of your home. And if anything these few years of market value decline has shown us is our homes really are investments.

Some of the most unbelievable transformations are on children's rooms. They will take a theme like the racecars or princesses and make a child's dream come true. My favorite part of an old kid’s show, Trading Places: Boys vs. Girls, is at the very end when the parents arrive to see the redecorated rooms for the first time. Whether there are ropes hanging from the ceiling, a psychedelic paint job or artificial grass on the floor, the reactions are priceless. Sure they are saying "awesome" for the television cameras, but are they really happy with the new rooms? As a parent, I know how quickly kids grow out of favorite toys, colors and activities. A theme-based room could be hard to transform back to a normal room when the fad passes or child grows. And what if you have to sell your home? How will potential buyers view that boat on the ceiling or the chalkboard walls?

This isn't just something that happens on television. People really do crazy things to their homes and it's not always for their children. Whether it is a unique wall treatment or an indoor hot tub, some people's individualism hurts the value of their homes.

Here are a few unbelievable things I have seen in people's Minnesota homes:

Playground Swings in the bedroom. This family removed a wall from two adjoining bedrooms to create one large room and bolted two playground swings to the ceiling. This home was 1700 ft.., split level home with 3 bedrooms prior to removing the wall. It is now an odd two bedroom. Combine this with the possible structural damage to the support beams if heavier people use the swings, this “improvement” has devalued this home considerably.

Crinkled grocery bags glued to the wall instead of wallpaper. It is a unique look and similar to wallpaper but since it will be difficult (if not impossible) to remove, you will need to find a buyer who likes the look as much as you did. And most buyers don’t like wallpaper so this unique décor had a drastic affect on the home’s value.Multi-colored hand painted murals and stenciling painted on walls throughout the home. This can be beautiful to the owner but because it is applied in an uneven way by less than professional painters, it is difficult to repaint. Often sanding and several layers of special primer are required to repaint.

Indoor hot tubs. Unless you are installing your hot tub oasis in a four-season porch, think long and hard about this so called improvement. In a cold weather state like Minnesota, this just doesn't make any sense. I have seen them installed in bedrooms and family rooms. Many were professionally installed but that does not help retain your homes value. Most buyers still didn't like them because they took away living space or a much needed bedroom. Buyers also have concerns about the installation. What if it leaks? Will it wreck the foundation? Does the steam cause mold? Even if the sellers offer to remove the hot tub prior to the closing, most buyers are turned off by the potential problems that they will walk away from the home. Again your improvement reduced the value of your home buy tens of thousands of dollars.

Kid’s Art on Walls. Chalkboard paint on walls is okay as long as you have a plan to repaint prior to resale. But if you are a permissive parent who thinks, “It’s just a closet after all, what difference will it make if the kids go crazy with a rainbow of Sharpies on the walls?”, think again. If you have ever tried to paint over it, you know it can take more than one coat of Kilz to cover over red permanent marker. No buyer will ever consider kiddy graffiti as adding value to a property.

So does this mean a person shouldn't personalize their home at all? Of course not! It is your home after all.

What I am suggesting is that when you are considering a home improvement or trying the next decorating trend, remember that your home is your biggest investment and asset. Put the hot tub on the patio, deck or four-season porch. Swings belong in the backyard. And wall treatments need to be removable and easy to repaint. Make your decisions with this in mind and your home will be beautiful and pocketbook will be protected.

Copyright 2010 Teri Eckholm 

Minnesota Traditions for St. Patrick's Day Fun!

Growing up Irish in Minnesota made March 17th an official holiday! (Okay...I'm only a quarter Irish but on St. Pat's day, whose counting?) From time to time we attended the big parade in downtown St Paul and once even walked under the “Flaherty” banner. But it was much more fun to watch the festivities from the safety of the curb.

I think my mom tried to feed us a dinner of home cooked corned beef and cabbage once...not a big success in our house. We didn’t dance, but sang the “When Irish Eyes are Smiling” all day (my Prussian grandmother's favorite song)! It was fun to celebrate our heritage.

In honor of St. Patrick’s Day,I wanted to share some fun Minnesota Irish websites. Enjoy!

• Meet St. Patrick


• Irish in Minnesota


• IrishSongs and their lyrics


• Irish Recipes


• St. Paul St. Pat's


• St. Patrick's Day Online Games


• Official Government Website of Ireland

May you have all the happiness

and luck that life can hold—

And at the end of all your rainbows

may you find a pot of gold. Traditional Irish Toast

-->

Copyright 2010 Teri Eckholm

Unexpectedly Amazing Bank-Owned Homes on Lakeshore & Acreage throughout Anoka County!! (And some by traditional sellers too!)

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 Anoka County today:

• New Construction Foreclosure Brick Rambler in Ham Lake! Acre lot, 6 car attached garage, executive 4BR/3BA with hardwood, tile, vaults and more. 80% complete. Builder price $480K, bank asking $279,900.


• 3500 Sq ft Executive Rambler on Ham Lake acreage. 4BR/3BA/4Car on 1.8 acre lot. Cherry cabinets. Hwd floors, media room, 2 decks +++ Builder listed for $799K in 2007. Bank asking $499K.


• 4+ Beautiful Acres 5BR/2BA/3Car in Columbus. Originally sold in 2005 for $322K…Bank asking $175K.


• 1996 Built Modified 2 Story on 25+Acres in St Francis 4BR/2BA with 3 car, wooded setting, Hwd floors, Master suite, gas fpl in finished family room listed by bank for $239K!


• Coon Lake Shoreline 4BR/5BA/5Car in Ham Lake 85+ft shoreline and 2+Acres. Entertainers dream 2 Story w/2 full kitchens &Master suites! w/o basement. Original list $650K now priced to sell at $454,900.


• 2 story on Pet Lake in Linwood! Not a foreclosure, but priced like one! Just listed today at $180K ($40K under tax value)! Well maintained 2BR/3BA/2Car w/Hickory cabinets and SS Appliances.


• New Construction Foreclosure 5BR Two Story in Ham Lake! Acre lot, Completely finished with upgrades: Cherry cabinets, upstairs laundry, private master suite. Builder price $570K, bank asking $369,900

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.

Are YOU ready to get a great deal on a foreclosed home? Let me be your professional REALTOR®! 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 2010 Teri Eckholm

Good Time to Buy a Home? Terrible Time? That is a GREAT Question!

Several ads are running in all forms of media lately about what a great opportunity it is to buy a home right now. It’s hard to turn on the television, radio or computer without being exposed to an advertisement from the National Association of REALTORS® announcing the expiring tax credit and why this is a once in a lifetime opportunity to buy a home. But is it really a good time to buy? Yes, but maybe not for everyone.


Here are a few facts about the current Twin Cities real estate market:

1. There are many affordable homes across the Twin Cities metro area.
2. Interest rates are still historically low.
3. And, there is that $6500-$8000 tax credit that is going to expire very soon.

But do these reasons alone make it a good time to buy a house?

I ran into an old colleague of mine in a Forest Lake parking lot earlier this week. We used to work for the same real estate broker a few years ago and chat from time to time. This day was no different. After the initial hellos, the conversation drifted to the real estate market. He is not selling much these days as he hates working as an agent in this market. He doesn’t think it is a good time to buy for most buyers. However, he did make a couple of personal investments this past year, choosing to ride out the market by taking advantage of the foreclosures in northern Washington County and rehabbing them for resale. He offered his view of the market as a “terrible time to buy for a first time buyer”. When I questioned his logic he said, “First time buyers have to compete with buyers like me. There were seven offers written in a few days on one of the homes I purchased. I didn’t finance the home. I could close in a week for cash. How can a first time buyer ever compete with that?”
How indeed! That is a good question. But then again I have talked to two other investor/agents this past year with a different view of this current market. These guys were rehabbing homes long before the market took a dive. They paint a picture of the market as a terrible time for a rehabber to buy a home. First time buyers and first time investors are driving up the prices on bank owned properties so they cannot buy at a reasonable price to turn a decent profit.

I find it interesting that three people who have all worked in real estate for years have such differing views on the current housing market.
So, do I think NOW is a good time for a homebuyer to buy?
First, let's turn back the clock a few years to the late 1980’s when my husband and I purchased our first home. According to history, it was a terrible time to buy a home…but we didn’t know any better. We needed a place to live and didn’t want to rent. Interest rates were in double digits at the time and we still had student and car loans so what we could afford versus what we wanted was not quite in line. We ended up purchasing a house from relatives by assuming their 9%, 15 year loan.

We purchased at the time not because someone said the real estate market was good or bad but because it made sense for us to buy rather than rent. We didn’t buy our “ideal” home, we bought an adequate starter home that we could afford. We knew we wouldn’t live in this home forever but it was priced fairly and it was a place to start. We lived there for eight years. Though it wasn’t a good time to buy for many home buyers, the purchase made sense for us.

Many people will be rushing to write a purchase agreement in the next month in order to take advantage of the expiring homebuyer’s tax credit. That should not be the ONLY reason to buy a home. Buying a home in any market is a personal decision and whether it is a good time to buy will really depend on the buyer, the home, the price and what happens in the future. While no one has a crystal ball on the future, a good REALTOR® and loan officer can help potential buyers determine if NOW is a good time to buy depending on their unique situation.
So...In my opinion, it really IS a good time for many people to buy a home…but might not be the right time for all.
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 2010 Teri Eckholm