Dangers Lurking on Minnesota Acreage

We are in the Dog Days of a very warm Minnesota Summer! The weather is perfect for lakeshore picnics and weekends at the cabin. Many Minnesotans are itching to get out and enjoy the beauty of our area but nobody wants to be literally "itching". It is time to heed the warning of potential hazards on Minnesota acreage.

Anoka, Chisago  and Washington Counties in Minnesota boast some of the most beautiful, desirable acreage and lakeshore properties in the state. As a REALTOR® who works throughout the Ham Lake, Forest Lake, Blaine and Lino Lakes areas, I have to walk acres with clients to assess the land.  We walk the perimeters of wetland and hobby farm acreage properties to understand the property lines. Whether in a suburban backyard or  wooded field, whenever I show homes on Minnesota acreage, I am prepared. There can be dangers lurking in the underbrush.

Poison Ivy-- It is important to be extremely very aware of these poisonous plants as they are all over in Minnesota yards and wooded areas. Many property owners don't even realize the plants are poison ivy. Poison ivy is found all over the US while a close relative poison oak is found most often in the west. The plants to have a similar look and exposure to either of these plants will cause a similar, painfully itchy reaction.

Poison Ivy in will be rampant in the Summer

• Classic poison ivy is grown to full "itchy" potential in the early summer.
• Some leaves are notched.
• Some leaves are not.
• New leaves are shiny and still somewhat reddish.
• Older leaves are duller.
• Be careful not to accidentally burn poison ivy as you can have an allergic reaction to breathing in smoke too!

Poison ivy can be a ground cover, a vine or a bush. One small neglected patch can spread very quickly to a huge area. Exposure to this plant is an itchy nightmare that can last for several weeks unless treated with
prescription medicines, usually steroids. These plants can leave oil on clothing which can spread in the laundry. Be aware of this hazard when walking in any wooded area that you are unfamiliar with.

Think you can identify poison ivy? Take the POISON IVY PHOTO QUIZ

Wood Ticks/Deer Ticks--While the woods are often a haven for white-tailed deer, the beauty of these
animals is overshadowed by a frightening reality. Deer ticks are carriers of Lyme disease; a painful disease that can be quite debilitating if untreated. Deer ticks (or Black-legged ticks) are rarely found in maintained yards and are very tiny and often not noticed even after having bitten a host. The best defense is prevention of a deer
tick bite.

• Dress Appropriately When walking acreage with underbrush or on property that has not been maintained, wear long sleeves and tuck in pant legs.
  
  
• Use Bug Spray Effective repellents include DEET and Permanone. Spray clothing with Permanone repellent prior to wearing as it is not to be sprayed directly on the skin. DEET can be used on clothing and/or skin.

For additional information on ticks commonly found in Minnesota, read article "Minnesota Ticks and Their Control", by Jeffery D. Hahn.

Mosquitos--And don't forget that mosquitoes that are found in the wetland acreage. Mosquito bites are for the most part just annoyingly itchy in the spring. But in the fall, there is more of a risk of West Nile and encephalitis. This disease can be extremely serious and occasionally deadly, so mosquito spray is an essential when veiwing homes located near ponds, lakes and wetlands.

Copyright 2012 www.terieckholm.com

Home Seller Tips--Why Would a Seller Pay a Home Buyer’s Closing Costs?

Best Tips on Selling an Anoka County Home-Why Pay Buyer Closing Costs

A seller's estimate of proceeds or net sheet is an essential part of the listing contract.  It lists the  estimated closing costs associated with the sale of the home. One of the items on the list sheet is a blank for the “Seller's contribution to a Buyer’s Closing Costs.” In this current market, I always include several thousand dollars as an estimate to prepare my clients that this could come up at negotiations. So many FHA buyers, and even some conventional ones, will require assistance with their closing costs. 

But every now and again, I hear will hear a seller loudly scoff at paying a buyer's closing costs. The conversation usually goes something to the effect of, “I don’t want to pay my own closing costs. Why would I want to contribute to the BUYERS?”
 
This is an excellent question and the answer is very simple: You contribute to a buyer's closing costs so they can BUY your house!
 
Today most buyers are required to put down a minimum of 3.5% of the purchase price of the home as a down payment. In the case of a conventional loan, this can be 20%. The closing costs for a buyer include title insurance, home owner’s insurance, appraisals, loan origination fees, name search fees, filing fees and more. As a REALTOR® working throughout  communities in Anoka County and the north metro Minneapolis/St Paul area, I see these closing costs will run anywhere from $4000-$8000 for a first time buyer. Add this amount with a required down payment and few buyers will have sufficient funds to purchase a home.

Understanding Closing Cost Assistance Buyers have the option of waiting and saving additional money to cover the down payment and closing costs or asking for seller assistance. In many cases a financial institution will allow a seller to assist a buyer by paying either points to reduce the interest rates and/or closing costs.

How does this work? Let’s say that a home is on the market for $200,000. The buyer writes their offer for $195,000 and their financial institution allows up to 3% seller’s assistance with fees and closing costs. They decide to ask the seller in their purchase agreement document for $5000, thus the net offer to the seller for the home is $190,000. 

If a seller does not want to pay the closing costs, the buyer in many cases will not be able to purchase the home. 

If the offer is accepted, the seller’s proceeds at closing would then be reduced by the $5000. Sellers do not have to come up with the funds in cash if there is sufficient equity in the home to cover both the buyer's and the seller's costs.

When an offer comes in on a home, it is sometimes confusing to sellers what the sale price versus net number is. In the case above, the $195,000 would be the sale’s price on the purchase agreement but by paying the $5000 in closing costs, the seller’s net number is really $190,000 less the seller's own closing costs including all fees and commission. And the home must appraise for the sales price of the home, in this example it would have to appraise for  $195,000.

If as a seller you decide to counter on the original offer, you can counter on the sales price of the home or the amount of closing costs paid. When counter offers are involved, a seller needs to make certain that they understand what the net proceeds will be in each offer and counter offer.

This is where the assistance of a professional REALTOR® comes into play. As a real estate agent, I provide my clients with a seller's net sheet that outlines all costs and fees that has been updated after receiving each offer and counter offer. When counter offers start going back and forth, I reiterate at each step what my seller's net number will be  to help eliminate the confusion.

Assisting a buyer with closing costs can be the ticket to getting your home SOLD in this challenging real estate market. With so many short sales and foreclosures, often it is the more traditional seller who has the ability to negotiate with a buyer and assist in their financing a deal. As long as a seller is happy with the NET number received, it doesn't matter whether some of the proceeds went to pay closing costs or not. Understanding the process is simple with the assistance of a knowledgeable real estate agent!

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Copyright 2012 www.terieckholm.com

It's No Trick--Here's a Halloween Real Estate Treat!

Real estate closings can be fun this time of year and not just because there is a big bowl of candy on the closing table. In Minnesota, when a home is sold by a traditional seller to a new home buyer, all parties sit down in the same room during closings as all the paperwork is done at the same time. After all the signing is done, the closers leave the room to make copies of the documents and to prepare the checks from the final settlement. During this time, sellers often pass over the keys and explain some idiosyncrasies of the home, Often these expected concerns like how to change the code for the electronic door opener or where the water shut off is located. Buyers will question what day the trash is picked up and what the schools are like.

But just before Halloween, the questions and necessary information traded between the seller and the new homeowner become a little more festive. New homeowners from neighborhoods big and small often want to know how many kids are in the neighborhood and consequently, how many bags of candy will be needed. One time an Anoka County seller in a very small neighborhood noted that the 6 year old next store had already come over and let it be known that she prefers Reese's Pieces. Since the little girl was missing a front tooth, the seller made sure to add the necessary lisp for effect. It is good to share a light-hearted moment after all the stress of buying/selling is complete!

Have a festive, fun and safe HALLOWEEN!

Copyright 2011www.terieckholm.com

My Headache Today Can Help Homebuyers Avoid One in the Future!

Don’t you hate when you forget the simple things? Like this morning, I have all my vitamins and allergy medications set out to take first thing when I wake up but today I realized at noon, I hadn’t taken them. No biggie…except for the generic Allegra that keeps away sinus headaches. By lunchtime it was too late and the headache had already started. Oh well, it won’t last for too long.

This reminds me of a rather expensive headache that a homebuyer could experience if they don’t take care of the simple things in a timely manner. Filing for homestead is a very simple process. It is a matter of taking the paperwork to the county offices prior to December 31 and dropping it off. It doesn’t even cost anything. But it does take a bit of time out of your crazy moving-in day.

The closer often cautions the buyer to head to the county offices immediately but moving day is busy. Some buyers, especially in the summer months, will opt to wait a few days, or weeks. After all, they have MONTHS before the paperwork has to be filed.

This can be a bad choice. Remember I said moving day is busy right? It is also a very confusing time with boxes, bags and furniture being unloaded. Paperwork can be misplaced and forgotten but unlike my allergies, forgetting to file homestead means a bigger headache (i.e. higher property taxes). And, unlike my headache, this cannot be resolved in a matter of hours. The higher taxes will last an entire year!

So remember to file the homestead paperwork as quickly as you can after closing on your new home and avoid that HUGE tax headache!

Copyright 2011 www.terieckholm.com

Danger Lurking on Minnesota Acreage

Spring has finally sprung in Minnesota! We are all itching to get out and enjoy the beauty of our area but if you don't want to be literally "itching" heed the warning of dangers in the underbrush on Minnesota acreage.

Anoka, Washington and Chisago Counties in Minnesota boast some of the most beautiful, desirable acreage properties in the state. As a REALTOR® in the Ham Lake, Forest Lake and Lino Lakes area, I have to walk acres with my clients to assess the land. I walk the perimeter of wetland and hobby farm acreage properties with potential sellers to understand the property lines. Likewise, I walk through backyards and wooded underbrush with buyers. Whenever showing homes on Minnesota acreage, I am prepared. There are dangers lurking in the underbrush.

Poison Ivy-- It is important to be extremely very aware of these poisonous plants as they are all over in Minnesota yards and wooded areas. Many property owners don't even realize the plants are poison ivy. Poison ivy is found all over the US while a close relative poison oak is found most often in the west. The plants to have
a similar look and exposure to either of these plants will cause a similar, painfully itchy reaction.

Poison Ivy in will be rampant in the Summer

• Classic poison ivy is grown to full "itchy" potential in the early summer.
• Some leaves are notched.
• Some leaves are not.
• New leaves are shiny and still somewhat reddish.
• Older leaves are duller.
• Be careful not to accidentally burn poison ivy as you can have an allergic reaction to breathing in smoke too!

Poison ivy can be a ground cover, a vine or a bush. One small neglected patch can spread very quickly to a huge area. Exposure to this plant is an itchy nightmare that can last for several weeks unless treated with
prescription medicines, usually steroids. These plants can leave oil on clothing which can spread in the laundry. Be aware of this hazard when walking in any wooded area that you are unfamiliar with.

Wood Ticks/Deer Ticks--While the woods are often a haven for white-tailed deer, the beauty of these
animals is overshadowed by a frightening reality. Deer ticks are carriers of Lyme disease; a painful disease that can be quite debilitating if untreated. Deer ticks (or Black-legged ticks) are rarely found in maintained yards and are very tiny and often not noticed even after having bitten a host. The best defense is prevention of a deer
tick bite.

• Dress Appropriately When walking acreage with underbrush or on property that has not been maintained, wear long sleeves and tuck in pant legs.
• Use Bug Spray Effective repellents include DEET and Permanone. Spray clothing with Permanone repellent prior to wearing as it is not to be sprayed directly on the skin. DEET can be used on clothing and/or skin.

.

Mosquitos--And don't forget that mosquitoes that are found in the wetland acreage. Mosquito bites are for the most part just annoyingly itchy in the spring. But in the fall, there is more of a risk of West Nile and encephalitis. This disease can be extremely serious and occasionally deadly, so mosquito spray is an essential when veiwing homes located near ponds, lakes and wetlands.

Copyright 2011 www.terieckholm.com

First Time Homebuyer’s Real Estate Word for Today is Easement

A couple of weeks ago, a friend mentioned a new company had opened in the Minneapolis/St. Paul area. He later realized it was just Fair Isaac now going by the new name, FICO. I was taken aback by the confusion because most people living in the Twin Cities north metro are aware the business analytics company, Fair Isaac Corporation, has been located in Shoreview for decades. What surprised me is that few outside the real estate and mortgage industry may have made the connection that FICO is an acronym for the Fair Isaac Corporation.

Once again, I was a bit surprised that such a simple term I use everyday as a REALTOR® would be unknown to others. But then it got me thinking of all the times a glazed look came over a buyer’s eyes when I talked about escrow or earnest money. These can easily be confused with other real estate and mortgage terms like down payment or cash to close. It is totally understandable because most homebuyers do not buy houses everyday.

There are so many terms that could possibly confuse a First Time Homebuyer that I thought an online glossary of real estate terms might be helpful. So over the next several weeks I am going to have a series of posts for the first time homebuyer with explanations of the most often used (and sometimes confusing) real estate terms. This way you can skip buying that big “how to buy a house” book or attending that First Time Homebuyer Class and have a quick resource at your fingertips. Today’s Real Estate Term is:

Easement—A right given by the landowner for a specific use of a portion of his/her property granted to a third party. Once the right is given and recorded on the title it continues unless vacated by the entity that received it. Common easements include utility and driveway easements. There can be more than one easement on any given property. When buying a home it is important to understand where the easements are as they can dictate what you can and cannot do with the land.

For instance, a new septic system, storage shed or flower garden cannot be constructed in a utility easement as the easement holder uses the easement for access to under and above ground utilities. Likewise a drainage easement could literally wash away your landscaping investment.

Driveway easements allow access to a landlocked property. While such agreements often provide an acceptable solution for access, they can cause headaches for neighbors who aren’t respectful of each others.

Easement holder does not own the land but has a right to use the land as specified in the easement agreement. This differs from an encroachment where a third party uses the land without permission.

Copyright 2010 Teri Eckholm

A REALTOR® Working Hard to always have that “Little Extra”

Today I was working on pulling a CMA or comparative market analysis for a potential client. When I do a CMA, I spend quite a bit of time selected comparables and figuring out the optimal initial starting price as this is a difficult real estate market. What I do not spend a lot of time with is the collateral information that I put in with every CMA. It is the extra information that tells the new client “how I work”. I spend much time with this information because frankly, the way I work hasn’t changed since I started and wrote up the information several years ago.

For some reason today, the information on the first page just caught my eye. I am not changing a word but I do want to share what my business philosophy is. It is just one quote and 6 sentences. But this short statement gives insight into who I am and how I work.

“The difference between ordinary and extraordinary is that little extra.”
~Barbara Jordan

As your REALTOR®, it is my job to understand your needs and respond to them promptly, professionally and with integrity. It is my pledge to provide you with sound real estate advice, helping you understand the wisdom of the decisions you make.

By being your REALTOR®, our relationship is built on trust. Value and service will be provided before, during and after the transaction, so that your changing needs are always addressed and satisfied.

It is not only my business philosophy, but also a commitment to provide you with exemplary personalized service beyond your expectations. My practice is to listen, hear and truly understand your needs; a quality of business conduct that often seems to have been forgotten in today’s fast paced, highly automated society.

Whether you are considering buying your first home or selling the home you have lived in for years, it is important to realize that not every REALTOR® works in the same way. While other agents may pay lip service to statements such as these, making promises that cannot always be delivered, I take an honest approach and work with you to find the best way to get the job done. I take time to explain the real estate market and if things change, work with you to adapt to the situation in a way that will work best for you. This is truly how I work; anyone who knows me can tell you this is who I am. If you want to work with me to sell or buy a home, I will be your partner in the process from start to finish.

Copyright 2010 Teri Eckholm

Purchase Agreement Cancelled—Understanding Risk of Loss during Minnesota’s Tornado Season

Minnesota’s summer storm season has started. The first big severe weather outbreak of the season walloped Minnesota yesterday. Hail pummeled roofs. Wind tore off siding and snapped trees like toothpicks. Lighting zapped houses causing a variety of damage. And tornados literally moved homes off foundations. From the time we are very young, Minnesotans are taught how extremely important it is to be weather alert during the summer.

Unfortunately, Mother Nature doesn’t care if a homeowner just accepted an offer from a buyer after having their home on the market for weeks on end. No doubt some of the homes damaged in yesterday’s storms will affect homebuyers and sellers with a contract in place.

Picture the following scenario: After months of scouring Anoka County for the perfect place to call home, you wrote an offer on a home in Lino Lakes that was accepted and is scheduled to close in 45 days.

A few weeks prior to the closing, severe storms with straight-line winds blow through Lino Lakes, Centerville and Hugo. Concerned, you drive up to your dream home and see that the picturesque oak trees that gave the home character have been uprooted. Worse yet, one of the huge trees crashed onto the house severely damaging the roof and eaves. You are devastated as this was no longer the home you pictured in your dreams. What happens now?

Risk of Loss is one of those “boiler plate” clauses on page four of the purchase agreement used most often in the State of Minnesota. Being preprinted, some agents and/or their clients will gloss over this clause but it is very important to understand, as is every other line in the document you sign to buy a home.
The highlighted section starting at line 150, clearly states that the risk of loss due to any reason whether an act of God or the acts of vandals will be the responsibility of the seller from the time the purchase agreement is signed until the date of closing. That means if there is a fire or accident the seller is required to bring the home into the condition that it was in at the time the contract was written and signed.

So if that temperamental decade-old dishwasher goes out, the seller is required to repair or replace it. If a deliveryman backs over the mailbox at the end of the driveway, it is the seller who must repair the post and replace with a new box. And if hail leaves dents in the aluminum siding, the seller must make the repair.

Final walkthroughs are essential to ascertain the condition of the home prior to signing the closing documents. But what happens to those irreplaceable picturesque trees that have fallen on the roof? Three weeks prior to a closing, there could be plenty of time for the seller to call their insurance company and have the home repaired. But is it the same house? And more importantly does the buyer still have to buy the home? In a word, no.

The clause goes on to say that in the case where there is substantial damage to the home or property, it is the buyer’s option to cancel or continue with the purchase agreement. In the fallen tree scenario outlined above, which was a real situation that occurred a few summers ago, the landscaping was significantly changed in the eyes of the buyers as the trees could not be replaced. The damage to the home caused an insurance claim that would now be reflected in a CLUE insurance report that could affect the ability to insure the home. The buyers opted to cancel the contract as was their option in the clause with all earnest money refunded.

Risk of loss comes into play quite often when buying and selling a home. In most cases the repairs are made quickly to both the buyer’s and seller’s satisfaction and the contract will close on time. But when the property sustains significant damage, the buyer has the option of continuing to closing or walking away from the deal. Boilerplate or not, Risk of Loss is an important clause to understand when buying or selling a home.


 Copyright 2010 Teri Eckholm  

Rent or Buy? The Debate Continues…But in Minnesota, Buying is #1!

Earlier this month the real estate web search company Trulia announced a new rent versus buy index. Topping the list of places to buy rather than rent was the Minneapolis market (yes, this means all of the Twin Cities metro). Trulia made the calculation using the listings on Trulia.com comparing the average rent of a 2 bedroom home or condo compared to cost the list price of a similar sized home. Results show that in this market people may come out ahead if they buy rather than rent.

Now combine that information with the first quarter numbers just released from the National Association of REALTORS® showing that the prices in Minneapolis/St. Paul are still down. In the just released First Quarter Local Market Report for Minneapolis/St. Paul/ Bloomington the trends for the market indicate that nearly all of the equity from the housing boom has been wiped out. Today’s homebuyer has the ability to buy a home at a price not seen since the late 90’s. This IS a huge opportunity for anyone STILL on the fence about buying a Minnesota home.

Should you rent or buy?

There is an awesome website that helps individuals to answer that question. Ginnie Mae is an organization providing that provides the private mortgage insurance to most government (FHA and VA) loans. Their website provides tips, tools and ideas to help out the first time buyer.One helpful tool is their Rent versus Buy Calculator. It is simple to use: Enter your current rent, the price of the home you are considering, how long you intend to stay at the home and a few other details. The calculator will provide an indication of where you will stand financially if you make the purchase. It is a good tool because it allows you to adjust the estimated property value increase. (In this changed market, it would be best to consider a 0-1% increase. Or consult with a REALTOR® for an estimate for a particular region or neighborhood.)

Copyright 2010 Teri Eckholm

Happy Mother's Day! --The Meaning Behind the Greeting

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A “Happy Mother’s Day” greeting has a deeper meaning than to just have a joyous day. Sharing these three words with your mom, grandma, stepmom or other person is a way to say, “thank you”, “I honor you”, “I respect you”, and “I love you.” It is about putting a mom’s happiness first for the day.

In the United States we have been honoring mothers for nearly a century on the second Sunday in May. Credit for the holiday is attributed to Anna Jarvis, who spend much of her lifetime promoting this special day to honor her own mother, Ann Jarvis. She was inspired by her mother’s dedication to her eleven children.

On the second anniversary of her mother’s death which fell on the second Sunday in May, Anna Jarvis worked with her mother’s church in West Virginia to create a celebration for all moms. She decorated the church with her mother’s favorite flowers, white carnations which were symbolic of her mother’s love; full of sweetness, purity and endurance. Carnations still are used today in Mother’s Day celebrations. Red carnations are symbolic of mom’s who are living and the white flowers memorialize the ones who have passed away.

This first Mother’s Day was such a success that support grew for Anna Jarvis. She recruited a team of supporters to write politicians, congressmen and ministers throughout the U.S. It was a century ago, in 1910, when West Virginia became the first state to officially recognize Mother’s Day as a holiday. The following year almost every state observed the day to honor mothers as well. In 1914, President Woodrow Wilson officially declared the second Sunday in May as the holiday: Mother’s Day.

In the past 90+ years though the family structure may have changed, creating many more “mothering” people to be honored, one thing has stayed the same. This day is for remembering and honoring moms for all of the good you do and the love you share. Happy Mother’s Day!

Copyright 2010 Teri Eckholm

Tough Pill to Swallow--Tax Valuations Arrive in Anoka County

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It’s that time again…Your 2010 Notice of Valuation for property in Anoka County should be arriving in your mailbox any day now!

Ours arrived just last week and the numbers, surprisingly, did reflect the recent real estate market! I had mixed feelings about the drop in value, happy I didn’t have to argue with the assessor that our home was being overvalued but disappointed in the reality of how foreclosures have affected of all Anoka County homes. As a real estate agent, I know that the sales price of homes has decreased significantly in some areas of Anoka County during the past few years. The decrease in value has been so noticeable that when I received my 2009 Notice of Valuation, I doubted I could sell our home for the value set by the county.

I have spoken with the Anoka County assessor’s office on a few occasions. They are very nice and explained that they previous year's data and setting the value for the next year. So this 2010 statement contains a valuation based on 2009 values which will be used to assess taxes in 2011. The assessor’s office attempts to stay on top of the real estate market and goes out to review area properties on a regular basis. This process goes year round but starts in the spring and summer. The office diligently watches the property sales amounts with a goal to be within a few percent of the actual market value at that specific period of time. But remember, by the time everything is processed and mailed to tax payers, the information for 2011, which we receive in the spring of 2010, is now 6 months old. I can only imagine that with this fluctuating and changed market, how difficult assessing property values can be.

It can be a challenge to explain the difference between the county’s property valuation and what I determine to be the optimal list price to the average home owner request a comparative market analysis (CMA). Of the most recent CMA’s I have completed, home owners still have a bit of a reality check. Today a homeowner considering a traditional sale (not a lender mediated short sale) has to spend money to put their home in exceptional condition and then price the home competitively. That is, price the home to compete with the prices of bank-owned and short sale homes. With decreasing property values this can be a tough pill to swallow for many sellers.

As an Anoka County home owner, I am not concerned by the 10+% reduction in value of my home by Anoka County. Since my valuation directly affects what my property taxes will be, a lower value should equate to somewhat lower taxes. As a REALTOR® I know sellers see things a bit differently. They want to look at the maximum value or an old appraisal for the worth of their home: their asset: their investment. Unfortunately, buyers and appraisers look at the current value in the market today. And though the numbers of homes sold has picked up a bit in the early part of 2010, current SOLD prices sold are still down 15-30% from the values of a few years ago. Homeowners wanting to sell their home this year must list at a price more in line with the tax valuation just received than with what it appraised for or was valued at years ago.

Copyright 2010 Teri Eckholm 

Minnesota Wetlands--Is Living on an Environmental Lake a Good Choice?

As a REALTOR® who sells homes on acreage in Anoka, Chisago and northern Washington Counties, I am often asked whether the land is dry or wet. In this area, depending on what you plan to use the land for, this is a very important question. Many people think purchasing a home on a Minnesota wetland is ideal others wonder whether buying a home with environmental lakeshore would be a huge mistake.
I find this question very interesting. In the areas where I focus my business, there are areas with an abundance of wetland and lakeshore homes. From Hugo to Wyoming and throughout the communities of Ham Lake, Lino Lakes and Blaine, there are properties abutting ponds, wetlands and natural environmental lakeshore. Many Minnesotans find these properties extremely desirable but as with any home it is a personal preference.

So how do you decide if a wetland or natural environmental (NEDS) lake home is for you? Take time to consider some of the positives and negatives.

Positives

Wildlife-White-tailed deer, raccoons, turtles, ducks, eagles, hawks, loons (the Minnesota state bird) and a host of other animals have been spotted living near Minnesota wetlands.
Privacy-Whether the wetland is 20 acres or 200, it cannot be built upon so a property with a wetland or NEDS lake shoreline will limit neighbors.
Affordable-NEDS lakeshore and wetland properties are significantly less costly than lakeshore on a full use recreational lake.
Activities-Though there could be some limits on the use, wetland ponds, environmental lakeshore and NEDS Lakes have been used winter skating, summer canoeing or kayaking and more depending on the water depth.
Negatives
Mosquitoes-Yes, wetlands are known to attract that "OTHER" Minnesota State bird too.
Drainage Issues-If the home is on a smaller lot, the owner must pay special consideration to the foundation. A drain tile system and sump pump could be required. Also homes on private septic systems would have special DNR (Minnesota Department of Natural Resources) considerations if the system were to fail.

Copyright 2010 Teri Eckholm 

Is Two—O—One—O a Dyslexic Zip for Beverly Hills? No...It's an Opportunity to Change Yours!

A local television station raised an interesting question. Should the New Year be pronounced “twenty-ten”, “two thousand and ten” or “Two-O-One-O”. Frankly, the latter struck me as a dyslexic pronunciation of an eighties TV show revolving around a Beverly Hills zip code. But no matter how you say it, 2010 will be a fantastic year for a person to change their zip code…At least it will be in Minnesota.

Here are a few of the reasons 2010 should be a great year to make your move to a Minnesota home:

1. Affordability—In Minnesota, homeowners get more bang for their buck. The affordability index was off the charts for most of 2009. Many buyers took advantage of this and are now happy homeowners but there are still many great opportunities available.


2. Low Interest Rates—Yep, they are still unbelievably low but these low rates cannot last forever. As interest rates creep up, affordability will decrease.


3. Extended and Expanded Tax Credit—The tax credit originally scheduled to expire has been extended until April 30, 2010 and expanded to include people who already own homes or have recently sold. For additional information on the extended and expanded tax credit CLICK HERE.


4. Selection—Though the number of MLS-listed homes is down from the record high inventory of early 2009, there is still a good selection of homes in every price point across the Twin Cities. Whether you are looking at a foreclosure to fix up or a lakeshore paradise, there are many options available.

 

Copyright 2010 Teri Eckholm http://www.terieckholm.com/