The White House and Congress agreed to give first-time home buyers a tax credit for 10 percent of the value of a home, up to a maximum of $8,000. The tax credit is part of the $787.2 billion economic stimulus plan, which President Barack Obama is expected to sign early this week. The tax credit was scaled back from an earlier Senate proposal of $15,000.
The tax credit will apply only to first-time home buyers who purchase a home from the start of 2009 to the end of November 2009. The credit begins phasing out for couples with incomes above $150,000 and individuals with incomes above $75,000. Buyers will have to repay the credit if they sell their home within three years.
The National Association of REALTORS® (NAR) estimates that the tax credit will result in an additional 200,000 home sales and enable many new home buyers to enter the market. According to NAR, first-time home buyers purchased 2.2 million homes last year. This represented 41 percent of all U.S. home sales, up from 39 percent in 2007 and 36 percent in 2006.
Information was first published by Coldwell Banker Burnet Hot Wire Xpress.
Monday, February 16, 2009
Thursday, February 12, 2009
FAQ: Senate Stimulus Bill and the Home Buyer Tax Credit
Thanks to Brian Call of Rubicon Motgage Advisors LLC, here are some answers to your questions about the Senate Stimulus Bill.
There have been several questions about the proposed $15,000 home buyer tax credit that is in the Senate version of the economic stimulus bill. It is important to remember that the proposed credit is far from a done deal. If it passes, it will have to be reconciled with the House version of the stimulus bill, which modifies an existing $7,500 home buyer credit, repealing a provision that requires buyers to pay it back.
There are some big differences between those two versions. The Senate version is nonrefundable, meaning you can only receive the credit if you owe federal income taxes. The existing credit is refundable, meaning you get a check from the government even if you do not owe income tax. And the current credit applies to first-time home buyers, defined as anyone who has not bought a house in three years. The Senate version is open to existing homeowners.
Here are some more
Frequently Asked Questions:
If I bought a home and used the $7,500 home buyer tax credit, can I retroactively receive $15,000 credit if it becomes law? No.
Are there any income restrictions on the tax credit? The Senate version currently has no income limits. The current $7,500 tax credit phases out on buyers with incomes exceeding $75,000 for individuals and $150,000 for married couples.
When will the new tax credit go into effect? The Senate version would take effect when the bill is signed by the President into law, and it would last for one year.
Can I take the tax credit this year? Yes. The Senate proposal would allow buyers, even those who purchase in 2009, to claim the credit on their 2008 taxes.
The proposed tax credit is nonrefundable. What does that mean? You can only receive the credit to the extent that you owe federal income taxes. The Senate proposal would give home buyers two years to claim the credit, so buyers could claim a $7,500 credit in 2009 and a $7,500 credit in 2010. A family of four that makes less than $82,000, for example, could have a tax liability of less than $7,500 and they would not receive the full value of the credit.
Are there any repayment requirements on the tax credit? No. The Senate proposal does not require the credit to be paid back. The House proposal eliminates a 15-year repayment provision on the existing $7,500 tax credit.
If I am eligible for the current $7,500 credit, am I also eligible for the $15,000 credit? While the $15,000 credit has fewer restrictions than the existing credit, there is one big difference: because the credit is nonrefundable, if you have a low federal income tax liability, you could end up receiving more money with the current credit than the larger, proposed credit.
Are there any increased down payment requirements on the proposed tax credit? No. A separate measure has been introduced in the House that would expand the tax credit to $15,000 but would require a 5% down payment on mortgages. The Federal Housing Administration currently requires a minimum 3.5% down payment.
Can I use the tax credit to buy a second home? No.
How long do I have to live in my home after I purchase it with the tax credit? The Senate version requires buyers to pay back the credit if they sell the house less than two years after they buy it.
If you are looking for more information please contact Eric or Sharla at 952.470.2575 or Brian Call at briancall@rubiconmortgagellc.com.
Tuesday, February 10, 2009
Weekly Market Activity Report from MAAR
For the week ending January 31, new listings continue at a lower level than seen last year, clocking in at 1,635—a 15.3 percent drop. Conversely, pending sales continue to raise sand with 673 recorded for this week's report—25 percent above last year. Basically, this is all welcome news. Having fewer listings on the market, combined with an increase in pending sales, helps to reduce the Months Supply of Inventory to 13.5 percent when compared to last year at this time—down from 8.9 to 7.7 months. This means it will take the current supply of houses for sale 7.7 months to sell (on average).
The Percent of Original List Price Received at Sale continues to fall, with the January figure of 89.5 sitting at 1.6 percent less than 2008. It's important to consider sales prices of foreclosure homes and how they affect this figure.
Our new Housing Affordability Index jumped to 202 in February. This is a new record and means that the median family income is 202 percent of what is necessary to qualify for the median-priced home. Again, we must consider how the sales prices in the lender-mediated market are affecting this figure, but we can say with some confidence that there are a number of very attractive buying opportunities in the local housing market. If we are able to maintain these trends, we'll be well on our way to killing the blues. And to this current market malaise, we'll be singing "gone, gone, gone (done moved on)."
Information compiled and published by Minneapolis Area Association of REALTORS.
The Percent of Original List Price Received at Sale continues to fall, with the January figure of 89.5 sitting at 1.6 percent less than 2008. It's important to consider sales prices of foreclosure homes and how they affect this figure.
Our new Housing Affordability Index jumped to 202 in February. This is a new record and means that the median family income is 202 percent of what is necessary to qualify for the median-priced home. Again, we must consider how the sales prices in the lender-mediated market are affecting this figure, but we can say with some confidence that there are a number of very attractive buying opportunities in the local housing market. If we are able to maintain these trends, we'll be well on our way to killing the blues. And to this current market malaise, we'll be singing "gone, gone, gone (done moved on)."
Information compiled and published by Minneapolis Area Association of REALTORS.
Tuesday, February 3, 2009
NEW LISTINGS
Announcing Three Great New Properties from Stafford Family Realtors
We are excited to announce three new listings that will be coming to the MLS over the next month or so.
Our first property is located in Chanhassen in the Springfield neighborhood. This property is an executive single family home in a beautiful neighborhood. Family friendly this neighborhood sits close to shopping, entertainment, schools, parks and the new 312 corridor.
Are you looking for the perfect destination for your vacation home? Located near Cook, MN, we will soon offer a 7.55 acre property on Lake Vermilion. Ultra private and sited on an exclusive part of the lake, this home is upgraded and comfortable, great for family vacations or a quiet get away.
We also will be bringing on a great family home in Carver Bluffs of Carver. More information to come.
Please contact Eric or Sharla Stafford with any questions.
We are excited to announce three new listings that will be coming to the MLS over the next month or so.
Our first property is located in Chanhassen in the Springfield neighborhood. This property is an executive single family home in a beautiful neighborhood. Family friendly this neighborhood sits close to shopping, entertainment, schools, parks and the new 312 corridor.
Are you looking for the perfect destination for your vacation home? Located near Cook, MN, we will soon offer a 7.55 acre property on Lake Vermilion. Ultra private and sited on an exclusive part of the lake, this home is upgraded and comfortable, great for family vacations or a quiet get away.
We also will be bringing on a great family home in Carver Bluffs of Carver. More information to come.
Please contact Eric or Sharla Stafford with any questions.
Friday, January 30, 2009
PRICE REDUCTION
We are extreamly excited to announce that we have recived a $40,000 price reduction on 1340 Alpine Pass in Golden Valley. This beautiful home, built in 1963, sits on a large double lot over looking ponds and mature trees.The home has been completely updated and features a Gourmet Kitchen with Stainless Steel appliances and Stained Cement counter tops. There are natural Hardwood floors thruout. The reciently updated bathroom features a double vanity with Corian counter tops and a tiled, heated floor.
The home is the perfect alternative to condo style living with all the amenities and room to roam.
With the new price, we are $75,000 less than what the home sold for previously.
This is a truly remarkable opportunity! Don't let it pass you by!
For more information, visit www.StaffordFamilyRealtors.com.
Home Fads That Are Falling Out of Style
In this ever changing world, Fads come and go. The Eighties are trying to make a come-back in personaal fashion, bigger is not always better and Feng Shui has fallen out of alinement. It is hard to keep up with all the changes. Below is a list of the top 6 Fads that have fallen from grace with the Real Estate world.
This list was published on REALTOR, a magazine for Real Estate Professionals. The tips have been compiled by Melissa Dittmann Tracey.
1. Fireplaces: The fireplace skyrocketed in importance in homes in 1991 with 62 percent of new homes having one or more. But the number has steadily been decreasing ever since. In 2007, the number dropped to 51 percent.
2. Carpet: While 54 percent of homes still have carpet floors, the number is decreasing and hardwood floors are taking the place. Vinyl and ceramic tile flooring also are being bypassed more by buyers. Seventeen percent of new homes contain hardwood floors throughout the entire house.
3. Living room: These once-decorative centerpieces of homes are slowly vanishing from newer homes. Thirty-four percent of consumers say they’re willing to buy a home without a living room.
4. Desks in the kitchen: These desks were once looked at as great storage areas but they’re often too small and quickly become clutter spaces in a home, said Gayle Butler, editor in chief of Better Homes and Gardens. Instead, more consumers say they prefer larger desks in or near the family room—equipped with a messaging center—where they can keep an eye on their kids as they work on the computer.
5. Skylights: The little windows that allow natural light to seep into a home from above are falling out of style. Only 10 percent of new homes will include them this year, a continuing downward spiral for skylights.
6. Upscale kitchen finishes: Granite countertops are slowly becoming less desirable among buyers who are now moving toward affordable, low-maintenance laminate countertops—which tend to last longer and now come in various styles.
This list was published on REALTOR, a magazine for Real Estate Professionals. The tips have been compiled by Melissa Dittmann Tracey.
1. Fireplaces: The fireplace skyrocketed in importance in homes in 1991 with 62 percent of new homes having one or more. But the number has steadily been decreasing ever since. In 2007, the number dropped to 51 percent.
2. Carpet: While 54 percent of homes still have carpet floors, the number is decreasing and hardwood floors are taking the place. Vinyl and ceramic tile flooring also are being bypassed more by buyers. Seventeen percent of new homes contain hardwood floors throughout the entire house.
3. Living room: These once-decorative centerpieces of homes are slowly vanishing from newer homes. Thirty-four percent of consumers say they’re willing to buy a home without a living room.
4. Desks in the kitchen: These desks were once looked at as great storage areas but they’re often too small and quickly become clutter spaces in a home, said Gayle Butler, editor in chief of Better Homes and Gardens. Instead, more consumers say they prefer larger desks in or near the family room—equipped with a messaging center—where they can keep an eye on their kids as they work on the computer.
5. Skylights: The little windows that allow natural light to seep into a home from above are falling out of style. Only 10 percent of new homes will include them this year, a continuing downward spiral for skylights.
6. Upscale kitchen finishes: Granite countertops are slowly becoming less desirable among buyers who are now moving toward affordable, low-maintenance laminate countertops—which tend to last longer and now come in various styles.
Wednesday, January 28, 2009
Weekly Market Update
With temperatures remaining stubbornly arctic, there is a very real possibility that we'll stay below freezing for the entirety of January. After a steady rise for the first two weeks of 2009, the Twin Cities housing market is reflecting the cold, with new listings down by 18 percent when comparing the week ending January 17 to the same week last year. If new listings continue to taper off, the market's supply balance can handle it, as we are still tilted generously in favor of the buyer.
For the same time period comparison, pending sales are up 13.2 percent over last year, and January 2009 has steadily outperformed January 2008. Total active listings trail last year, down by at least 10.5 percent. An ideal situation would be for listings overall to hold steady and for pending sales to keep rising...hopefully bringing temperatures up as well."And all the clouds that low'r'd upon our house, in the deep bosom of the ocean buried." – WS, R3
Information compiled and published by Minneapolis Area Association of REALTORS
For the same time period comparison, pending sales are up 13.2 percent over last year, and January 2009 has steadily outperformed January 2008. Total active listings trail last year, down by at least 10.5 percent. An ideal situation would be for listings overall to hold steady and for pending sales to keep rising...hopefully bringing temperatures up as well."And all the clouds that low'r'd upon our house, in the deep bosom of the ocean buried." – WS, R3
Information compiled and published by Minneapolis Area Association of REALTORS
You Can’t Stand in the Way of Progress
60-ton house moves across ice on White Bear Lake
Manitou Island, White Bear Lake's tony private island neighborhood, will be short one house this morning.
The house that sheltered generations of caretakers on the island is moving — but only a few blocks away.
Still, for homeowner Doug Kraemer and house mover Terry Semple, who together have picked up and transported a dozen homes in White Bear Lake, this move will be different. They will be wheeling the century-old home across lake ice to make room for potential development on Manitou.
"Honestly, in this economy we're up for anything," said Semple, only half joking. Actually, the lake route is the only one possible.
The bridge that connects the island with the mainland is too narrow and wimpy to support the 60-ton house, Semple said. And with White Bear Lake water levels down 6 feet — meaning the 100-yard-wide channel between the island and Matoska Park is frozen solid in parts — a ride across the ice became plausible.
But that doesn't mean the move is easy. Semple has been trying to thicken the ice in areas by pumping water onto the surface of the lake, and he thinks he has a couple of feet of frozen stuff where he needs it.
The weight of the home will be spread among 64 tires as the house inches over the lake, winched from the far shore.
"It's far more common to tear down a house, sat's one of the neat things about this story — they are saving it," said Sara Hanson, the group's executive director.
The move will allow the Manitou Island Homeowners Association to divide the caretaker's lot into two lots for future building.
The house ultimately will sit on a lot on Sixth Street, just off the corner from Johnson Avenue. But it will have to wait at the back of the lot until spring, when Kraemer can dig a basement and put up a foundation.
This story appeared in the St. Paul Pioneer Press and was written by John Brewer. To read the full article, click the link below:
http://www.twincities.com/ci_11569047
Manitou Island, White Bear Lake's tony private island neighborhood, will be short one house this morning.
The house that sheltered generations of caretakers on the island is moving — but only a few blocks away.
Still, for homeowner Doug Kraemer and house mover Terry Semple, who together have picked up and transported a dozen homes in White Bear Lake, this move will be different. They will be wheeling the century-old home across lake ice to make room for potential development on Manitou.
"Honestly, in this economy we're up for anything," said Semple, only half joking. Actually, the lake route is the only one possible.
The bridge that connects the island with the mainland is too narrow and wimpy to support the 60-ton house, Semple said. And with White Bear Lake water levels down 6 feet — meaning the 100-yard-wide channel between the island and Matoska Park is frozen solid in parts — a ride across the ice became plausible.
But that doesn't mean the move is easy. Semple has been trying to thicken the ice in areas by pumping water onto the surface of the lake, and he thinks he has a couple of feet of frozen stuff where he needs it.
The weight of the home will be spread among 64 tires as the house inches over the lake, winched from the far shore.
"It's far more common to tear down a house, sat's one of the neat things about this story — they are saving it," said Sara Hanson, the group's executive director.
The move will allow the Manitou Island Homeowners Association to divide the caretaker's lot into two lots for future building.
The house ultimately will sit on a lot on Sixth Street, just off the corner from Johnson Avenue. But it will have to wait at the back of the lot until spring, when Kraemer can dig a basement and put up a foundation.
This story appeared in the St. Paul Pioneer Press and was written by John Brewer. To read the full article, click the link below:
http://www.twincities.com/ci_11569047
Monday, January 26, 2009
Super Bowl
In honor of Super Bowl XLIII, Stafford Family Realtors will not be hosting open houses the weekend of February 1st.
!Go Cardinals!
Friday, January 23, 2009
Open Houses for January 25
Come stop by for a visit this Sunday at one of our Open Houses:
We have recently recieved a $500,000 price reduction on our two lake properties.
6557 Bartlett Blvd. in Mound will be hosted open by Eric from 2-4 in the afternoon. Stop in and check out this well appointed, luxury lake home on the shores of Minnetonka. This home has it all from an indoor elevator, gourmet kitchen, tram to lake and a Nanny's Suite. If you like this one, ask Eric about 6553 Bartlett Blvd.
We will also host our 7269 Bent Bow Trail in Chanhassen open from 12-2. This home has also seen a $35,000 price reduction, making it the Best Value in Chanhassen. Only Relocation brings this home in demand Longacres on the market.
Just minuets away from downtown, shopping and fabulous parks is 1340 Alpine Pass in demand Tyrol Hill of Golden Valley. This home is the perfect alternative to condo style living. Sited on a double lot with many mature trees, you can enjoy downtown style with pond views. Open from 2-4.
Please visit our website at StaffordFamilyRealtors.com for more informaion!
We have recently recieved a $500,000 price reduction on our two lake properties.
6557 Bartlett Blvd. in Mound will be hosted open by Eric from 2-4 in the afternoon. Stop in and check out this well appointed, luxury lake home on the shores of Minnetonka. This home has it all from an indoor elevator, gourmet kitchen, tram to lake and a Nanny's Suite. If you like this one, ask Eric about 6553 Bartlett Blvd.
We will also host our 7269 Bent Bow Trail in Chanhassen open from 12-2. This home has also seen a $35,000 price reduction, making it the Best Value in Chanhassen. Only Relocation brings this home in demand Longacres on the market.
Just minuets away from downtown, shopping and fabulous parks is 1340 Alpine Pass in demand Tyrol Hill of Golden Valley. This home is the perfect alternative to condo style living. Sited on a double lot with many mature trees, you can enjoy downtown style with pond views. Open from 2-4.
Please visit our website at StaffordFamilyRealtors.com for more informaion!
Wednesday, January 21, 2009
Weekly Market Activity Report
There's much "change" in the air around the world today. And there is also change happening on the streets of the Twin Cities metro area, as the number of new listings appearing in our Weekly Market Activity Report takes its ascendant year-opening uptick. Despite the increase, new listings for the week ending January 10 have not quite matched the numbers seen at this time period last year (down 7.6 percent), and pending sales are riding a healthy clip above where they were last year (up 19.4 percent) as more homeowners pour back into the market after the year-end transition.
As a summation of how most of 2008 went, total active listings for the year finished down 10 percent from the year before. Time will tell if the flurry of optimism associated with today's presidential inauguration will work its way into the economy, the housing market and, specifically, the Twin Cities housing arena. Hope meets anxiety at the crossroads of 2009.
This information is compiled and published by the Minneapolis Area Association of REALTORS.
As a summation of how most of 2008 went, total active listings for the year finished down 10 percent from the year before. Time will tell if the flurry of optimism associated with today's presidential inauguration will work its way into the economy, the housing market and, specifically, the Twin Cities housing arena. Hope meets anxiety at the crossroads of 2009.
This information is compiled and published by the Minneapolis Area Association of REALTORS.
Monday, January 19, 2009
Two Great Price Reductions!
We are excited to announce that we have received a HUGE price reduction on two of our Lake Minnetonka listings.
6557 Bartlett Boulevard, Mound
6553 Bartlett Boulevard, Mound
Both properties have been reduced $500,000, we are now at $1,500,000. Both of these Gorgeous Custom built homes overlook Halstead’s Bay on Lake Minnetonka.
We will be hosting 6557 Bartlett Boulevard open this Sunday, January 25th.
For more information on these and all our other listings, please visit StaffordFamilyRealtors.com.
6557 Bartlett Boulevard, Mound
6553 Bartlett Boulevard, Mound
Both properties have been reduced $500,000, we are now at $1,500,000. Both of these Gorgeous Custom built homes overlook Halstead’s Bay on Lake Minnetonka.
We will be hosting 6557 Bartlett Boulevard open this Sunday, January 25th.
For more information on these and all our other listings, please visit StaffordFamilyRealtors.com.
Wednesday, January 14, 2009
Weekly Market Activity Report from MAAR
The New Year rang in with the normal post-holiday increase in new listings, but listings are still down from the same week last year. Pending sales for the week ending January 3 showed a strong increase during the year-end transition, rising nearly 40 percent compared to last year. Over the last three months of the year, pending sales were 18 percent higher than last year. Local housing inventory has reached its annual low point but looks to rebound in the opening months of 2009.
This week's edition of the MAAR Weekly Market Activity Report features updated figures from several important metrics:
In December, Days on Market Until Sale dropped 6.3 percent compared to last year. The market appears to have reached a plateau in the amount of time needed to sell a house, and this welcome decline certainly could continue into the next year.
Percent of Original List Price Received at Sale closed at 90.0 in December, 1.3 percent lower than last year.
The new Housing Affordability Index (HAI) for January is extremely positive. Last month we stated that the HAI of 180 was the highest we had ever recorded. Now it's even higher, jumping an additional 12 points to 192. The rise reflects the help that interest rates and softer prices have given to the market. (Note: The decline in prices is driven by the significant amount of lender-mediated home sales and its benefit is not equal to all buyers.)
This information is published by the Minneapolis Area Association of REALTORS.
This week's edition of the MAAR Weekly Market Activity Report features updated figures from several important metrics:
In December, Days on Market Until Sale dropped 6.3 percent compared to last year. The market appears to have reached a plateau in the amount of time needed to sell a house, and this welcome decline certainly could continue into the next year.
Percent of Original List Price Received at Sale closed at 90.0 in December, 1.3 percent lower than last year.
The new Housing Affordability Index (HAI) for January is extremely positive. Last month we stated that the HAI of 180 was the highest we had ever recorded. Now it's even higher, jumping an additional 12 points to 192. The rise reflects the help that interest rates and softer prices have given to the market. (Note: The decline in prices is driven by the significant amount of lender-mediated home sales and its benefit is not equal to all buyers.)
This information is published by the Minneapolis Area Association of REALTORS.
Tuesday, January 13, 2009
News and Tidbits for January 13th
Eric and Sharla recently returned from their Disney Adventure with the Girls, the holidays are over and we are looking forward to the New Year with nothing but Optimism.
We already have buyers lined up for the beginning of the year which will be keeping us busy. We are excited to announce the newest REALTOR to our team. Jane Field has worked with us over the past year as our Client Services Manager, while she will continue on with that job title; she is also adding REALTOR to the many hats she already wears.
Receiving her license in early December, Jane has already sold her first house. A sure sign of what is to come!
Moving forward, we are eager to see what the future holds and are thankful for all our Clients and Friends and are looking forward to helping you and your family with all your Real Estate needs. Please call us with any questions or if there is any way we can assist you.
www.StaffordFamilyRealtors.com
We already have buyers lined up for the beginning of the year which will be keeping us busy. We are excited to announce the newest REALTOR to our team. Jane Field has worked with us over the past year as our Client Services Manager, while she will continue on with that job title; she is also adding REALTOR to the many hats she already wears.
Receiving her license in early December, Jane has already sold her first house. A sure sign of what is to come!
Moving forward, we are eager to see what the future holds and are thankful for all our Clients and Friends and are looking forward to helping you and your family with all your Real Estate needs. Please call us with any questions or if there is any way we can assist you.
www.StaffordFamilyRealtors.com
Friday, December 19, 2008
Trees For Toys 2008
We would like to take a moment to thank all of our friends and clients who made our 2008 Trees for Toys event so successful. Every year we give trees and wreaths to our clients and friends when they bring an unwrapped toy to donate to our drive for the Toys for Tots campaign. Together, our office collected over 600 toys!
We would like to thank you for your generosity, support and friendship and for making 2008 such a great year.
Merry Christmas and best wishes for a happy 2009!
We would like to thank you for your generosity, support and friendship and for making 2008 such a great year.
Merry Christmas and best wishes for a happy 2009!
Another Large Price Reduction!!!
We received another large price reduction on our listing on 7269 Bent Bow Trail in the Demand Longacres neighborhood of Chanhassen. This great family home has been freshly painted from top to bottom and features a Two Story Great room with a wall of windows; granite counter tops and a fully finished lower level walk out. We are now offering this home for $4854,000. Check it our on our Website, www.staffordfamilyrealtors.com or call us today!
Wednesday, December 3, 2008
We have two Great Opportunities for you to come and see this weekend!
We are holding two great properties open this Sunday, December 7th, 2008, both of which are rare opportunities.
7269 Bent Bow Trail, Chanhassen: Only available due to a corporate relocation, this Two Story, Walk Out is located in demand Longacres. Recently reduced by $30,000 and freshly painted from top to bottom, amenities include granite counter tops, a 2-Story Great Room and a fully finished Lower Level. This is your Chance! Open 2-4
1340 Alpine Pass, Golden Valley: Sited on a heavily wooded, private double lot in Tyrol Hills, this updated home has been updated with many high end amenities including stainless steel appliances and a new bathroom. This home is the perfect alternative to a condo. Open 12-2
For more information on these properties or our other listings, please visit www.StaffordFamilyRealtors.com.
7269 Bent Bow Trail, Chanhassen: Only available due to a corporate relocation, this Two Story, Walk Out is located in demand Longacres. Recently reduced by $30,000 and freshly painted from top to bottom, amenities include granite counter tops, a 2-Story Great Room and a fully finished Lower Level. This is your Chance! Open 2-4
1340 Alpine Pass, Golden Valley: Sited on a heavily wooded, private double lot in Tyrol Hills, this updated home has been updated with many high end amenities including stainless steel appliances and a new bathroom. This home is the perfect alternative to a condo. Open 12-2
For more information on these properties or our other listings, please visit www.StaffordFamilyRealtors.com.
Home Rehabs can put Money back in a Seller’s Pocket
Even in these rough economic times, investing in your home still pays off. According to REALTOR® Magazine, despite home price drops in many cities, remodeling projects are holding their own as a way for owners to add value.
Remodeling magazine's annual report, 2008-2009 Cost vs. Value Report, shows that maintenance-related projects and moderately priced upgrades are providing stable paybacks, even in a slower market.
Responding to a survey in the summer of 2008, REALTORS® said that home owners could expect to recoup a national average of 67.3 percent of their investment in 30 different home improvement projects.
Top 10 Project Paybacks
Exterior remodeling projects lead the way for recovery on dollars spent in this year’s Cost vs. Value survey. When compared against the national averages, replacement projects that boost curb appeal (i.e. siding, windows, and decks) give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level.
1. Upscale fiber cement siding (86.7% return)
2. Midrange wood deck (81.8% return)
3. Midrange vinyl siding (80.7% return)
4. Upscale foam-backed vinyl (80.4% return)
5. Midrange minor kitchen remodel (79.5% return)
6. Upscale vinyl window replacement (79.2% return)
7. Midrange wood window replacement (77.7% return)
8. Midrange vinyl window replacement (77.2% return)
9. Upscale wood window replacement (76.5% return)
10. Midrange major kitchen remodel (76.0% return)
Despite declines in overall remodeling dollars spent and a still shaky housing market, "people’s homes are still one of their best, most solid investments," said Paul Zuch, president of Capital Improvements, a designing, building, and remodeling company in Dallas. "Even though the markets have gone through some adjustments, it’s still smart to invest in your home."
… excerpts from REALTOR® Magazine article by G.M. Filisko / December 2008
Remodeling magazine's annual report, 2008-2009 Cost vs. Value Report, shows that maintenance-related projects and moderately priced upgrades are providing stable paybacks, even in a slower market.
Responding to a survey in the summer of 2008, REALTORS® said that home owners could expect to recoup a national average of 67.3 percent of their investment in 30 different home improvement projects.
Top 10 Project Paybacks
Exterior remodeling projects lead the way for recovery on dollars spent in this year’s Cost vs. Value survey. When compared against the national averages, replacement projects that boost curb appeal (i.e. siding, windows, and decks) give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level.
1. Upscale fiber cement siding (86.7% return)
2. Midrange wood deck (81.8% return)
3. Midrange vinyl siding (80.7% return)
4. Upscale foam-backed vinyl (80.4% return)
5. Midrange minor kitchen remodel (79.5% return)
6. Upscale vinyl window replacement (79.2% return)
7. Midrange wood window replacement (77.7% return)
8. Midrange vinyl window replacement (77.2% return)
9. Upscale wood window replacement (76.5% return)
10. Midrange major kitchen remodel (76.0% return)
Despite declines in overall remodeling dollars spent and a still shaky housing market, "people’s homes are still one of their best, most solid investments," said Paul Zuch, president of Capital Improvements, a designing, building, and remodeling company in Dallas. "Even though the markets have gone through some adjustments, it’s still smart to invest in your home."
… excerpts from REALTOR® Magazine article by G.M. Filisko / December 2008
Friday, November 14, 2008
Opportunity Knocks!
Here is your chance to get into the demand neighborhood of Longacres!
We are pleased to announce that we have reduced the price on 7269 Bent Bow Trail in Chanhassen. We are now offering this wonderful, single family home in a demand neighborhood for $499,900.
That is a $30,000 price reduction! This home has been freshly painted from top to bottom and includes features such as; Granite Counter Tops, a Two Story Great Room with a wall of windows, and a fully finished Lower Level Walk-Out.
Just minuets from both downtown Excelsior and Chanhassen, this is your perfect place to call home.
We are pleased to announce that we have reduced the price on 7269 Bent Bow Trail in Chanhassen. We are now offering this wonderful, single family home in a demand neighborhood for $499,900.
That is a $30,000 price reduction! This home has been freshly painted from top to bottom and includes features such as; Granite Counter Tops, a Two Story Great Room with a wall of windows, and a fully finished Lower Level Walk-Out.
Just minuets from both downtown Excelsior and Chanhassen, this is your perfect place to call home.
Thursday, November 13, 2008
Open Houses for November 16th
We are excited to announce our open house schedule for the weekend of November 16th. We are hosting two great properties open from 2 – 4 PM.
2280 South Parkway, Victoria
This 4 Bedroom / 4 Bathroom custom built executive home located in the tranquil countryside of Victoria is bounded by the quiet waters of two lakes & wetlands and is just moments from Deer Run Gold Course. Only Available due to relocation in the demand neighborhood of Watermark. Come and check out this wonderful property!
7269 Bent Bow Trail, Chanhassen
Sited on a corner lot in demand Longacres of Chanhassen, this single family home has been freshly painted from top to bottom. Amenities include a 2-Story Great Room, Granite Counter tops, and a fully finished Lower Level Walk-out. This is the perfect place to call Home.
2280 South Parkway, Victoria
This 4 Bedroom / 4 Bathroom custom built executive home located in the tranquil countryside of Victoria is bounded by the quiet waters of two lakes & wetlands and is just moments from Deer Run Gold Course. Only Available due to relocation in the demand neighborhood of Watermark. Come and check out this wonderful property!
7269 Bent Bow Trail, Chanhassen
Sited on a corner lot in demand Longacres of Chanhassen, this single family home has been freshly painted from top to bottom. Amenities include a 2-Story Great Room, Granite Counter tops, and a fully finished Lower Level Walk-out. This is the perfect place to call Home.
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