Oh the Weather Outside is Frightful--Ten Reasons Why NOW is a GREAT Time to Buy a Minnesota Home!

A fresh blanket of snow covers the landscape across the Twin Cities from Oakdale to Blaine and Ham Lake to White Bear Lake. There is a chill in the air...who am I kidding, the weather is biting cold this year. But winter is not a time to hide from the elements and wait until spring to make a home buying decision! Although making a move in a Minnesota winter’s snow and ice is not ideal, the timing could not be more perfect to buy a home and get a GREAT DEAL!

Here are the Top Ten Reasons to Buy a Home THIS Winter!
Reason 10—Holiday Décor. Visiting homes this time of year will really put you in the holiday spirit. Many homeowners use this opportunity to deck the halls with hopes that there will be a purchase agreement in their Christmas stocking!

Reason 9—Check Window Efficiency. No that frost on the window is not a holiday decoration! Subzero temperatures really put windows to the test. Some windows will fog between the glass panes, others will ice up on the interior and then there are those that stay crystal clear in the cold. This energy efficiency test can only be done when the temperature is extreme outside.

Reason 8—Low Traffic/Less Competition. While most Minnesotans are shopping at the Mall of America for gifts or attending “A Christmas Carol” at the Guthrie Theater, savvy home buyers are visiting homes with their Realtor!

Reason 7—REALTORS have Tons of Time. Most REALTORs are not juggling several clients like they often have to when the weather is warm. They will be have to spend more time scouring the MLS to find the perfect home for their buyers!

Reason 6—Amazingly Low Mortgage Rates. Though rates have ticked up a bit from the extremely low 4% rate that were available last month, at 4.5 % rates are still at all time record lows. These rates cannot continue forever. A low interest rate translates to being able to afford a higher priced home and/or a lower payment!

Reason 5—Check the Heating System. Whether the home is heated with a forced air furnace or a hot water boiler, checking out the heating system in the summer is hard to do. On a cold Minnesota evening, a furnace problem is very obvious!

Reason 4—Builders Discounts. New Construction developments hoping to clear inventory before the end of the year will often slash prices. Buyers ready to buy non-contingent are in the best position for a deal…Especially when they are accompanied by their agent to assist with the negotiations!

Reason 3—Check that Fireplace. It's hard to determine if that fireplace will be perfect for toasting chestnuts when the temperatures are in the upper 90's on a July summer day. But now is the perfect time to see if that fireplace is operational. A cracked flue can costs thousands if overlooked in the warm weather so buying during the winter is a plus when considering a home with a wood burning fireplace!

Reason 2—Amazing Inventory. Whether you are looking for a starter townhome, a single family home, a private country acreage, a McMansion or a lakeshore paradise, there are probably a slew of properties for you to select from. A search of lakeshore in Anoka, Chisago and Washington Counties alone, yields 100's available homes. Now that is a great selection!

And, drumroll please, The Number 1 Reason for Buying in the Winter—Motivated Sellers. Homes that stay on the market in December and January in the Twin Cities are homes that need to be SOLD! If they are motivated enough to suffer through a Christmas Eve showing, they probably are willing to negotiate on the price as well!

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Copyright 2010 Teri Eckholm

Winter Acreage Home Bargains in the Twin Cities North Metro… Deals are TOO Good to last until Spring!

Looking for a bargain on an acreage home in the Twin Cities north Metro?

Think all the good deals are gone or won’t hit the market until next spring?

Think again! Here are 10 BEAUTIES that JUST LISTED in Anoka County, Northern Washington County or Northern Ramsey County.

Some of these deals are on foreclosures or bank-owned homes. Some are short sales which will take a bit longer to negotiate with the seller and the bank. But many are being offered for sale by traditional sellers and are still awesome deals!

Winter can be a great time to buy a MINNESOTA home and with the Homebuyers Tax Credit of 2009/2010, it makes more sense than ever to get your home search started as soon as possible.

Keep in mind that foreclosures are no longer 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 TEN OPPORTUNITIES that listed since December 1st that I noted while perusing the Twin Cities MLS today:

• 4BR/2BA Lino Lakes Short Sale. 1967 rambler with a one car garage on just over an acre for less than $130K


• 5BR/3BA/2Car on 1.5 Acres in North Oaks!! Almost 3000 sq ft finished, with custom woodwork throughout. Asking over $150K less that assessed value at $330K.


• 2.7 Acres and 4 Car Garage in Ham Lake! 4BR/2BA built in 1981 backs up to Carlos Avery game preserve. Listed under assessed value at $250K.


• 4BR/3BA/6Car One Story in Ham Lake. New construction in 2007, bank-owned home on just over an acre. Some handicap accessible features. Builder listed at $429K …Bank asking $280K.


• 2 Story with 3 Pole Barns on 40 Ham Lake Acres! 3BR/3BA completely remodeled in&out. Traditional seller asking $500K.


• 3BR/4BA/3Car New Construction in Forest Lake. BANK-OWNED built in 2005 home on 1.6 acres with city water and sewer. Full Master suite. Builder price $489,900…Bank asking price $175K LESS at $315K.


• 5BR/4BA Brick 2 Story on Forest Lake. 1+ Acre lot. 100 ft shoreline on First Lake. 5200 square ft executive home built in 2000. Originally listed at 1.5 Million….now bargain priced at $850K.


• 8.7 Acres Split Level in East Bethel! 2BR/2BA built in 1993. Third bedroom and family room just need carpet. Bank-owned fixer-upper price $138K.


• 1 Acre Rambler with view of Coon Lake. 3BR/2BA/3Car Quiet East Bethel community. Traditional seller listed at $199,900.


• 2.5 Acres in Andover Spectacular Short Sale! 4BR/4BA/3Car 2 story built in 2006. All the bells and whistles included. Sold for $505K three short years ago…now listed at $385K.

If you are in the market for a great deal on a foreclosed, short sale or traditionally sold home, it is 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. (Note: Traditional sellers rarely look at offers without proof of funding either.)
2. Banks reject lowball offers...often with no negotiation. They are a business and know the value of the asset they are selling.
3. Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.
4. Banks sell homes AS-IS. What you see is what you get. Buyers must be prepared to make all necessary repairs out of their own pocket after closing.
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.

FEATURED Acreage Listing in Oak Grove. Minnesota


Oak Grove 9+Acre estate being offered by a traditional seller for $259,900! Bring the horses and ATV’s! Contemporary 1-1/2 story 4 Bedroom home with 5+ Mechanics Dream Garage.

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

Teri and the Terrible, Horrible, No Good, Very Bad, Subzero MN Winter Day

In Minnesota this week we experienced a once (or twice) in a canine lifetime, finger-freezing, pipe-bursting, cold snap….or should I say ARCTIC BLAST? I know that half of America felt a bit chilly this week as that horrible, no-good jet stream swooped down from the Arctic into states as far south as Florida. But I frankly have no sympathy for someone suffering in 30 degree temperatures when ours are 30 degrees below zero. I think it is time to pack up the hateful flannel railroad pajamas and head to Australia!
There is no other way to describe subzero, bone-chilling weather…30 degrees below zero weather is NASTY with a capital N! The wind freezes the skin in a matter of seconds. Dress in layers takes on a new dimension as people, who never wear hats, gloves, boots or scarves, swaddle themselves in mismatched accessories and ugly holiday sweaters in order to walk out to warm up their cars…If the cars will start that is.

Thank goodness I didn’t have to show houses during the snap. As a Minnesota REALTOR®, it is cold enough when trying to show a winterized, heatless, and foreclosed home on a 30 degree day. In this weather, taking off your gloves to work a combination lock box can be a painful reminder of how quickly frostbite can overtake essential extremities…like fingers!

Our 17 year old dog, Tikki, played dead when I try to coax him out the door to take care of business. When I was finally able to push him out and down his dog ramp, he was too cold to do anything and he sat on his tail with his frozen paws in the air. I had to put on boots to go out and lift him back to his feet to get him inside. A few minutes later, we had an accident in the house.

School was delayed or even cancelled in many communities for fear that kids will freeze at bus stops or walk to school in their usual jacketless, bootless, gloveless and hatless state. I guess common sense still isn’t being taught at Minnesota schools…or maybe it is just that teenagers still don’t believe that minus 30 is COLD! Heck as a Minnesota teen, I chose style over warmth too no matter how low the temperature got.

Those who have to venture out in this weather have all the supplies…gloves, blankets, boots, hats and energy bars in their winter survival kits…Who am I kidding? It is advised to carry one of those kits in your car but I don’t know one Minnesotan that has one. I did see someone get one as a Christmas gift once but I’d bet the Hershey’s bars were eaten long before any possible incident where the car hit black ice and went into the ditch.

On days like this week brought us, if I have to go out, I make certain to wear boots and thick, woolly socks. Once your feet get cold in this weather, they never warm up!

There was some frigid weather fun…The news people froze a wet t-shirt into a pancake-flat work of art in a matter of minutes and overnight a banana hardened into a “bammer”…fruit so hard it could pound in a nail. Hot water thrown in the air creates an instant cloud and blown soap bubbles freeze and shatter like glass. Great times…Yeah right!

It was over 90 straight hours of below zero temps before we started to warm into the single digits…Next week it may be just warm enough to wash the thick, white crust of salt residue off the sides of my car. That groundhog better NOT see his shadow in a couple of weeks! It is SO time for spring! OR maybe a move to Australia!


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 or Homebuyers Success Packet. 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.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Copyright 2009 terieckholm.com

Sleigh Bells Ring are You Listening?—Winter is a Great Time to BUY a Home!

A fresh blanket of snow covers the landscape across the Twin Cities from North St. Paul to East Bethel and Ham Lake to Scandia. Winter is not a time to hide from the elements and wait until spring to make a home buying decision! Although making a move in a Minnesota winter’s snow and ice is not ideal, the timing could not be more perfect to buy a home and get a GREAT DEAL!

Here are the Top Ten Reasons to Buy a Home THIS Winter!
Reason 10—Holiday Décor. Visiting homes this time of year will really put you in the holiday spirit. Many homeowners use this opportunity to deck the halls with hopes that there will be a purchase agreement in their Christmas stocking!

Reason 9—Check Window Efficiency. No that frost on the window is not a holiday decoration! Subzero temperatures really put windows to the test. Some windows will fog between the glass panes, others will ice up on the interior and then there are those that stay crystal clear in the cold. This energy efficiency test can only be done when the temperature is extreme outside.

Reason 8—Low Traffic/Less Competition. While most Minnesotans are shopping at the Mall of America for gifts or attending “A Christmas Carol” at the Guthrie Theater, savvy home buyers are visiting homes with their Realtor!

Reason 7—Realtors have Tons of Time. Most Realtors are not juggling several clients and will be able to spend more time scouring the MLS to find the perfect home for their buyers!

Reason 6—Tightened 2008 Mortgage Guidelines. In the first quarter of 2008, most borrowers who have good credit, but have FICO scores below 680, will be required to pay more points at closing or incur a higher interest rate. The amount that a borrower could be forced to pay, even if they've never been late on a payment, could be as much as 2.00% in points or an interest rate that's 1.00% higher than the going rate.

Reason 5—Check the Heating System. Whether the home is heated with a forced air furnace or a hot water boiler, checking out the heating system in the summer is hard to do. On a cold Minnesota evening, a furnace problem is very obvious!

Reason 4—Builders Discounts. New Construction developments hoping to clear inventory before the end of the year will often slash prices. Buyers ready to buy non-contingent are in the best position for a deal…Especially when they are accompanied by their agent to assist with the negotiations!

Reason 3—Low Interest Rates. Just after Thanksgiving, interest rates dropped to the lowest point in 25 months! If you don’t buy now, you could miss a great opportunity to cash in on the lowest rates since October 2005.

Reason 2—Amazing Inventory. Whether you are looking for a starter town home, a single family home, a private country estate, a McMansion or a lakeshore paradise, there are probably a slew of properties for you to select from. A search of lakeshore in Anoka, Chisago and Washington Counties alone, yields nearly 100 available homes. Now that is a great selection!

And, drumroll please, The Number 1 Reason for Buying in the Winter—Motivated Sellers. Homes that stay on the market in December and January in the Twin Cities are homes that need to be SOLD! If they are motivated enough to suffer through a Christmas Eve showing, they probably are willing to negotiate on the price as well!

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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. 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 2007 www.terieckholm.com