Demystifying Home Buying Myths

Emotional and financial readiness is necessary in buying a home. As you begin with your home buying journey you need to expect the hitches and glitches that you may encounter along the process. First time home buyers feel more uneasy and apprehensive about the whole process because they don’t know anything how and where to start their search for the right home.  Below are the myths wrong expectations that hold back first time home buyers from choosing the right home:

Perfect Homes Do Not Exist

Sometimes home buyers expect all the homes they visit to acquire all the items they have listed in their wish list. And they feel bad and frustrated each time they bump into homes that lack the things they have included in their list. Consequently, you get disappointed by the thought that you cannot stumble on the home that has all the qualities that you want for a home. And people around you will tell you to keep looking because the perfect home is out there, just waiting to be found. Do not listen to these people. Instead, try to accept the reality that it is impossible to find a home that have all the things that you want to have. Bear in mind that when buying a home you need to make special considerations. Make your mind up on which items in your home wish list you would be willing to sacrifice.

Don’t Concentrate On Furnishings and Paint Color

Do not get blinded by the furnishings and paint color. Try to look closely on the things behind all those adornment. Perhaps, the newly painted wall is already decaying or the windows behind the beautiful curtains are not in good condition. As a buyer, you need to understand that most sellers will do everything only to hide the ugly things in the home they are vending.  Therefore, it is necessary that you inspect a home carefully.

Houses Are Inanimate Things, They Cannot Speak To You

When visiting homes for sale in open houses, do not expect the house to talk to or sway you to buy it. Remember that a house is a lifeless thing.  Therefore it does not have any emotion to communicate to you.  Do not let your emotion take over your head when choosing the right home to buy.

Purchase As Much Properties As You Can Afford

This statement used to be true but no longer applicable today. Prior to the incidence of the housing boom, people buy more homes as an investment for the future. However, the housing market has changed significantly and it is not a prudent decision to buy more real estate properties today. Purchase a home that will provide your essential needs.

Make use of our MLS MN database to search homes for sale in Minnesota.

What To Consider in Buying a Home in MN

Planning to get a home in Minnesota? Want to live in a home with calm and peaceful environment? Or place with a healthy and vibrant society? Indeed, Minnesota is the place for you!

Minnesota is one of the most ideal and perfect place to live in the United States. It is known as the “Land of 10,000 lakes” thus giving the chance for everyone to find a home with the most perfect and serene view.

Moreover, it is the twelfth largest state in the US with the highly-educated and literate populations. They have a very stable and competitive economy and vigorous tourist destinations with its lakes, waterways and other natural resources.  It is also known as a community of international arts.

Ideally, homes in MN can give you comfort, safety and luxury. Their homes are perfectly-built for families and family bonding. You can have a wide selection of homes to choose from- from a waterfront home to a ranch real state! All in its finest and top-notch quality and of course a reasonable price!

One of the most vibrant and lively community you can check out is Burnsville Valley MN. They offer fabulous prices for their first rate and excellent homes. They have single-family homes, townhouses condominiums and other home investments that are ready for purchase.

All of these houses are of different sizes, styles and designs and of course some of them have wide garage and have clear views to public highways. However, if you don’t want to miss the sun everyday and you wanted to have a beautiful and magnificent view, you can choose a home with the perfect view near it.

Furthermore, another good thing about Burnsville Valley MN is the idea that it is accessible to key and major areas like Mall of America, Minnesota Zoo, Valley Fair Family Amusement park and Mystic Lake Casino. In addition, it is located very near to Minneapolis and St.Paul areas and its international airports.


One of the easiest things you can do to check and look for a home is to utilize multiple listing services. You can get much information about homes in MN, its location and prices. It has no limitations and you can certainly pick the best and ideal home for you.

Basically, an MLS MN has a complete list of all houses that are for sale in Minnesota. These are listed by different real estate brokers and real estate agents as well. One thing you can take advantage of is the competition of realtors to get sellers. What will happen is you will meet more customer-friendly agents that offer competitive and fair price just to get clients.

So if you will be buying a house in MN make sure to utilize MLS for you to get your dream house in a very incredible price.

In conclusion, finding a home in MN will not be difficult for you. You just need to do a little research to know the place and your target home very much for you not to regret later on. However, if you really know what you want, then you are likely to get the perfect home for you.

Why Not Get A Home in Minnesota?

An ideal and peaceful place for a home is a great investment indeed. You can feel the calmness and serenity if you find the right home for you and your family. It will be a wonderful feeling waking up every morning and realizing what a fantastic and perfect home you’ve got.

Moreover, getting the best home is one great factor to develop your family relationship. It can actually build and enhance a stronger family bonding and unity.

There are a number of Minnesota homes for sale that you can choose from-all in good and its finest quality!

However, there are several things that you need to consider before getting a home. It is not just about the style and how it was constructed. You need to be diligent and have a thorough research with regards to this.

What we have for you below is a list of tips and important factors that come in buying a property.

  • It should be in the right price. You should not make a deal because you just simply love the house and the location. You need to consider the price and know if it is in a reasonable rate. Always remember that you can make a negotiation with the buyer with regards to pricing.
  •  Ask for documents. There is nothing wrong in asking papers with regards to legalities. It is your right to know all the information about the house. This can also secure your investment and future plans for your home.
  • Inspect the house. This is a good way to know possible house defects and future problems that may occur in the house. You can also estimate earlier how much it will cost you to fix future house defects.
  • It should have a nice view. This should be considered by everyone in buying a house. Living in a place with a nice and beautiful view can be an epitome of peace. With this, your home will certainly be the perfect place to start and end your day.
  • Know the community. You should know the community and your possible neighbors. It will be beneficial for you to know how they live in the area, what are their social gatherings and activities. An active, safe and lively community is the most ideal place to live in.
  • Explore the area. This can help you know what’s near in your target home. Try to check for the nearest police stations, hospitals, fire stations and anything that can be of help. You need to make sure also that you are not near an area that produces odor and pollution.

Investing in your own home is one of the best things you can do. You can have a guarantee of secure and safety living without worrying what will happen next. This is a lot better compared to renting a home that costs you a lot but still you end up gaining nothing.

So why not check those Minnesota homes for sale and get an incredible investment? Good Luck!



How To Search Homes MN For Sale?

Searching for a home in Minnesota is an exhilarating and fun experience. However, if finding for homes mn for sale is done without careful planning, it can lead you to a big trouble. Some first time home buyers tend to be irrational when looking and choosing homes. In most cases, when first time buyers decide to buy a new home they heedlessly get into the car and start looking at houses without even knowing what they really want for a home, in what particular neighborhood do they want to live in or if they have the means to acquire a new home. Here some tips that you should take into account when searching for homes for sale in Minnesota:

1. Go to a mortgage broker or financial institution to get pre-approved for a mortgage. This step is necessary because it allows you to size down your search for a home for sale by identifying how much you can afford and it lets your offer more convincing to sellers.

2.  List down the items or qualities that you want to find in a new home. If you are living with a partner, then each of you should supply the home wish list since you will be living in that home together. After that, take some time to contemplate on each item’s significance and narrow down the items to be considered. Do not forget to make your list flexible as much as possible.

3. Employ a real estate agent in your home buying endeavor. If you do not know anything about real estate transaction, working with a real estate agent can be really beneficial to you. First, they have the knowledge and experience to guide you along the home buying process. They have exceptional negotiating skills and help you handle volumes of paperwork.

4. Talk to your agent and tell them your goals. Make certain that your agent knows about your home wish list and that you are not interested at homes that do not possess the characteristics that you have included in your wish list. This will help your agent work efficiently for you.

5. Work with your real estate agent in searching for homes that really match your preferences at online multiple listing services (mls) such as Homes MN For Sale or real estate websites Realtor, Trulia and Zillow. Get the listing number or address of your prospect home and give it to your agent so he can get the specifics and details of the home for sale.

6.  Discuss and comprise with your spouse or partner. Some people just agree to what their spouse writes in their home wish list and complain later on when the deal is closed. Make sure that you communicate with each other before you buy a property so you will not endup purchasing a home you are not comfortable with.

Make use of our MLS MN database to search homes for sale in Minnesota.

Why Do Homes Go Into Foreclosure?

Many home buyers and real estate investors often look for foreclosed homes for sale to get a great deal in buying a home. These foreclosed properties are usually owned by mortgage companies or lending institutions and not by the homeowner themselves. These mortgage companies are very eager to get rid of the homes because their organization’s primary aim is to make money from home loans and not to sequester and own the properties. However, you have to keep in mind that buying a foreclosed home will not always give you a good deal. A lender usually does not exert effort in upgrading the property to sell it on a higher price. They normally sell it ‘as is’.

First, we need to understand what foreclosure is. A foreclosure is a legal process where a mortgage company acquires the ownership of an estate (repossess the property). This occurs when the homeowner has failed to make payments, has defaulted, or violated the terms of their mortgage loan.

With the rising number of foreclosures in the market today, many of you would wonder how homes go into foreclosure. Below are the common reasons why homeowners fall into foreclosure:

Negative Equity

One of the common reasons why some home fall into foreclosure is negative equity. Negative equity usually happens when a homeowner buys a house using a mortgage and then the home prices start to drop. After the house purchase, the value of the home decreases below the value of the amount owed on the mortgage, causing negative equity. When this happens, the homeowner does simply give up paying their monthly mortgage. He decides to cut his losses and stop making payments.

Sub-Prime Mortgages

HUD allows giving loans to high-risk borrowers with little capability of keeping up the payments is another contributor to the increasing incidence of foreclosure. Creating risky loans generated significant profits through origination fees and selling the mortgages to investors, even if the homes had to be foreclosed on later.


Employment or job gives every person the financial capability to buy the food they want to consume, buy the clothes they want and pay for the mortgage and other utility bills.  Thus, losing a job can make someone financially vulnerable and makes it impossible for the homeowner to keep paying the mortgage.

Other Personal Reasons

Aside from the aforesaid reasons why homes go into foreclosure, some home owners lose their home due to unwanted circumstances in their lives. One of which is serious medical condition. Serious Illnesses can stop a person from continuing their job, paying for the hospital bills and medications can also drain their financial resources, as a result the home owner fails to pay for the monthly mortgage. Divorce is another reason why people lose their home through foreclosure. When a couple separate or have a divorce, one of the spouses who keep the house may not be able to afford paying the mortgage alone. Lastly, there are also people who fail to pay mortgage and lose their house because of their gambling or substance addictions who usually prefer spending their money to satisfy their habits instead of fulfilling their monthly obligation on paying their mortgage.

Make use of our MLS MN database to search homes for sale in Minnesota.

7 Most Awful First-Time Homebuyer Mistakes

Home seeking is enjoyable, exhausting and a little bit daunting experience for first-time home buyers. But in the end of your home shopping journey, you aspire to find a home that fit to your needs at a selling price you can afford. Unfortunately, there are a lot of home buyers who commit home buying blunders that deters them from achieving their home buying goals. Therefore it is essential that you equip yourself with these tips to get the home that you want.

1. Not Identifying How Much You Can Afford

If you haven’t determined your budget yet for buying a home, you can simply start by creating a list of all your monthly expenses like vehicle or transportation costs, student loan payments, credit card payments, groceries, health insurance and so on. Also, do not forget to include your annual fees and expenses. Deduct its total from your income and you’ll know how much you can spend for your mortgage. You have to identify how much you can afford because, if you will end up finding homes that are not within your budget. And just make you long for a property you cannot afford.

2. Skipping Mortgage Qualification

Get pre-approved first for a loan before beginning home shopping so you will know how much the bank would lend you. If you will skip this step, you will be wasting time dealing with the seller, the seller’s agent and your own agent if you sign a contract and learn soon after that the bank is not willing to lend you what you the amount that you need. Be wary that even if you have get pre-approved for a mortgage, you may encounter with your loans at the last minute, if you make major purchases like buying a new car before closing the deal.

3. Not Preparing Yourself For Additional Expenses

Once you finally acquired the home that you want, you will be spending for additional expenses aside from your monthly payment. Now that you no longer rent, you will be responsible for paying property taxes, buying an insurance covering your home against disasters and making any major repairs the home needs like expensive items like a new roof or a new furnace.

4. Being Too Choosy

Naturally, first-time home buyers want to get the best home for them. They search for a home that will provide them comfort and one that fits their needs. But don’t be too inflexible when creating your home wish list because most often than not this prevent home seekers from acquiring their own home.

5. Being Overemotional and Overexcited

Doing minor upgrades and home remodeling are few of the tricks home sellers do to deceive you and play with your own emotions so they can sell their property to you at a higher price than its actual selling price. If you have a sufficient budget, find homes that full potential has yet to be attained. In addition, first-time home buyers should search for homes which they can add value to.

6. Failing To Inspect

Before signing the contract do not forget to conduct a home inspection in the home that you wish to purchase. You would not want to buy a property that will bring you a lot of repair problems and headaches. Hire a professional home inspector who can help you examine the current condition of the home. Failing to inspect a home before buying it could cost you a lot of money and pose you to potential danger (asbestos exposure or other hazardous home defects).

7. Not Choosing to Hire an Agent or Using the Seller’s Agent

Make sure that you hire an experienced real estate agent if it is your first time to purchase a home and you know that you are not equipped with home buying information. They are knowledgeable of the market and can surely help you find what you want and protect your best interest as a buyer.

Make use of our MLS MN database to search homes for sale in Minnesota.

Five Things To Look For In A Lender When Buying A Home

One of the first steps in buying a home is choosing a lender and getting pre-qualified for a loan. In Minnesota, there are a lot of financing options for home buyers and I can recommend quite a few of them. If you want to do it by yourself, we can still help out by giving you 5 things that you should look for in picking the lender to work with.

1. The loan should have a low and FIXED interest rate. The importance of this is that it makes it easier for you to gauge how much you would be paying in the future. This means you can set your budget to spend on buying a home easier.

2. Low monthly payment. The lower the payment, the more money you would have in your pocket or to put into a savings account. Remember that the cost of living could increase in the near future and you do not want to end up borrowing money to make ends meet.

3. No high closing costs. This could range from 1 to 8 percent of the price of the property although the average is between 2 to 3 percent. The higher the closing cost, the less appealing the loan would be to you or to any other buyer.

4. No teaser interest rates. Teaser is the term used for low interest rates in the beginning but would balloon in the long run. You do not want this especially if you are not sure of how financially stable you would be in the coming years what with the volatile economy.

5. The option for down payment assistance programs. These programs are designed to help low-income to moderate-income first-time home buyers.

If you want to learn more about finding the right lender, don’t hesitate to contact us and we would be happy to help you out.


The Exciting Part Of Home Buying

Much has been said about the home buying process being a tedious one. But there’s one part in the process that many realtors and homebuyers would tell you is exciting and that is the part where you pick the home to buy.

This post is not about the tips on how to pick the property to buy but more of a walkthrough to help prepare you for this step.

You have to start with consulting an MLS whether online or not. You can use our MLS MN online tool right here for that. You can narrow down the selection using different criteria like number of rooms and number of bathrooms. You can even save your searches so that you can make the same search again without having to set the criteria the next time.

After that, you would then have a shortlist of houses that you are interested in. Contact your real estate agent to set a showing. Your list can include anywhere from 3 to 20 or even more. Personally, I make sure that I plot a route so that we can view all of the properties on your list as efficiently as possible. That means while we are moving from one property or another, you will also get to see the communities surrounding the property in question.

Once that step is completed, you do not have to immediately decide on which property to buy. You can set a second showing. This time around, you would have an even shorter list with only the best of the best on it.

A side note though, before you reach this process, it would be a big plus if you are already pre-qualified and pre-approved. That way, you would know how much you can afford. It would help you weed out properties that might be out of your reach financially.

The second showing is where you will focus more on the houses. You would spend more time looking at the property during this step thus allowing to have a better feel for it.

Not all second showing leads to a sale though. Sometimes, you would end up finding some things that you would not like in all the properties in your short list. If such a situation comes up, don’t force the issue. Do not buy for the sake of buying. Sooner or later, you would find a house that you would fall in love with so keep on searching and let us help you do that.

Contingencies in Real Estate Contract Basics

 Much has been said about how important each step of the home buying processes is. When it comes to spending a large amount buying something that should always be the case right? To give you a real sense of just how important each step in the home-buying process is, let’s look at one step which is fulfilling contingencies in real estate contracts.

Simply put, a contingency is a condition set by the buyer or the seller that should be met before the sale is made final. There are several contingencies that come to mind that every first-time home buyers should know and I’ll list them below to give you a better look at this step in home-buying.

1. Inspection of the property. The buyer should have this as a conditional. Before you buy a home, you need to know that it is in good condition and for that, an inspection of the property is needed. Once the inspection is completed and the buyer deems that there is a problem with the property, he or she can renegotiate its final price.

2. Financing for the buyer. This is the sort of contingency that is very normal and obvious is that the buyer should secure financing before both parties agree to a deal.

3. Disclosures from the seller. As the buyer, you should know all known issues about the property that you are going to buy. The seller should provide you with a disclosure of the issues without which, the sale would not go through. It is a contingency that would protect your investment.

4. Timeframe for specific occurrences. Time is money and both seller and buyer need to be able to complete the deal with as little snag as possible. Having a condition that the deal will only go through if both parties complete certain things by a certain date would make things easier and faster for both sides.

Going through the list of contingencies can be a hassle especially if there are a lot of things involved. We are here to help you with the whole buying process so don’t hesitate to contact us.


Supply And Demand Factors Affecting The Real Estate Industry

Buying a home is a big investment on your part. It is not a simple thing that you can buy and if everything does not work out, you can expect to just leave it or flip it to get your money back. It is therefore your duty to learn as much as possible about the real estate industry so that you can make the right decision when to buy a new property.

Supply and demand are huge factors in the pricing of properties in the market which means if you want to make the best decision when it comes to buying a home, you need to learn about it.

Let us look first at the supply factors affecting the industry.

If there is a limited supply of real estate in the market, it will usually push the prices higher. Conversely, if there are a lot of properties in the market, the tendency is for the price to go down. A balanced market will work well for both sellers and buyers. Even if the supply is imbalanced, there are other factors that can make the real estate market performing well.

Builders for example are going to adjust their plans to avoid oversupply of new homes in their area. The more they build, the lower the prices would be so they are not going to build and build without regard for the supply factor. Another thing that can balance the oversupply of housing is the availability of land. Some regions do not have plenty of space for new housing so the risk of oversupply of properties in the market is not that high.

About the demand factor, there are a lot of things to take into consideration. The higher the demand for real estate, the higher the prices would be. Some of the factors affecting the demand are the following:

1. No job losses in the area.

2. Baby boomers kids looking to buy entry-level homes.

3. Immigrants looking for homes in the area.

4. Stability in the interest rates.

5. Rising wealth status.

By reading how the market is performing, you would have a better idea when would be the right time to buy a new home.


MN Homes For Sale | MN Real Estate | Northstar MLS Member MN