Update: Current Mortgage Rates

May 13, 2014

When purchasing a home there are many factors to consider. One major factor, is mortgage rates. Mortgage rates are constantly in a state of ups and downs with weekly, if not daily changes. This is something to keep in mind and consider when you are thinking about purchasing a home and/or selling your current home.

In a recent Freddie Mac Primary Mortgage Survey, mortgage rates, for the week of April 17th on a 30 – year fixed mortgage were at 4.27% compared to 4.34% the week prior – still up from 3.42% in 2013. For a 15 – year fixed mortgage, rates fell from 3.38% to 3.33% – still up from 2.64% in 2013.

Speaking with a mortgage lender prior to looking for a home is very important. They are able to give you all of the information needed to make an informed decision on the current interest rates and how they will effect your monthly mortgage payment. They are also available to answer any questions you have regarding the lending side of purchasing a home.

If you or someone you know is thinking about buying a home and/or selling your current home, contact the Better Living Group today! We are here to provide you with information on purchasing a home and a free market analysis for the home you are considering to sell. The Better Living Group are Real Estate professionals in the Twin Cities and Greater Metro areas who are ready and able to assist with all of your Real Estate needs and goals and to provide only the best Real Estate service to all of our clients past, present and future.

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Chelsea Knutson and the Better Living Group

Realtor- GRI, ABR, CDPE

Keller Williams Classic Realty NW

Posted in Community /Open House /Real Estate News, Updates & Trends /

3 most frequently asked questions from buyers

April 28, 2014

There are many questions that buyers have when purchasing a home. All relate to the entire transaction from start to finish. As your local Real Estate Economists, we ensure all of our clients know what the process is to purchase a new home, every step of the way. We hear many of the same questions from buyers who are in the market to purchase a home and here are the answers to those frequently asked questions.
What is earnest money and where does it go? When writing an offer on a home you put down, what is called earnest money. This is to let the sellers know that you are earnest about purchasing the property. This earnest money is put into the Listing Brokers trust account within 2 business days of final acceptance and goes towards your loan at closing.
How do you (my Realtor) get paid? When working with a Licensed Realtor many clients ask how we get paid. There is typically a commission payout amount that the seller has previously agreed to pay to the listing agent, as well as the selling (buyers) agent. The buyer does not pay the commission.
Is this home worth the list price? Prior to writing an offer we do a Current Comparable Market Analysis to make sure the home you are looking to purchase is priced appropriately. There are many things that go in to this analysis. This will give us the correct price range at which the market suggests it is worth and will better prepare you for the price you choose to offer.
If you are thinking about purchasing a home and/or need to sell your home, contact us today. We go over current market trends and have fantastic lender referrals available, all who are ready and able to assist you. My team and I are licensed Realtors in MN, working in the Twin Cities and greater Metro Areas. We’re dedicated to providing the very best service to all of our clients – past, present and future.

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Chelsea Knutson and the Better Living Group

Realtor- GRI, ABR, CDPE

Keller Williams Classic Realty NW

Posted in Community /Real Estate News, Updates & Trends /

Just Listed – Coon Rapids SF Home

March 21, 2014

Our team, the Better Living Group at Keller Williams Classic Realty NW in Maple Grove, MN has just listed this beautifully updated single family home in Coon Rapids! This home has many wonderful amenities including a fully updated and renovated kitchen with stainless steel appliances and beautiful granite countertops, as well as a large center island for plenty of counter space.

This home features 3 bedrooms and two bathrooms, both of which have been remodeled. There are new utilities: furnace, water heater and water softener. Beautiful hard wood floors accompany this home along with a new sliding glass door on the upper level leading to the deck, which over looks a large pond. This pond can be utilized as an ice rink in the winter and great for sitting on the deck and watching the ducks and geese in the summer.

If you are interested in purchasing a home in the Coon Rapids area, contact me today for a private viewing of this wonderful home – you don’t want to miss this!

The Better Living Group are licensed Realtors in MN, working in the Twin Cities and greater Metro Areas and we’re dedicated to providing the very best service to all of our clients – past, present and future. We know the current market trends and have some fantastic and reputable lender referrals available, all who are ready and able to assist you in purchasing your new home.

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Chelsea Knutson and the Better Living Group

Realtor- GRI, ABR, CDPE

Keller Williams Classic Realty NW

Posted in Community /Open House /Real Estate News, Updates & Trends /

Update: Mortgage Interest Rates at Four Month Low

November 1, 2013

Due to the recent government shut down the mortgage industry has seen some changes, added with weak job numbers as a result of the shutdown, fixed mortgage rates are now at a four month low.

In July of this year we saw interest rates begin to rise with 30-year fixed rate mortgages go from 3.93% to 4.46%. This was the largest jump in interest rates at one given time since 1987. Now, since the shut down, we have seen rates drop from 4.28% to 4.13%. This is still quite a bit higher then last year, which was 3.41%, yet the rates are still low and affordable for many of us looking to purchase a new home.

If you are thinking about purchasing a home and/or need to sell your home, contact us today. We will go over current market trends and have some fantastic lender referrals available, all who are ready and able to assist you. My team and I are licensed Realtors in MN, working in the Twin Cities and greater Metro Areas and we’re dedicated to providing the very best service to all of our clients – past, present and future.

Chelsea Knutson and the Better Living Group

Realtor- GRI, ABR, CDPE

Keller Williams Classic Realty NW

Posted in Community /Real Estate News, Updates & Trends /

Purchasing a New Home? Tips for Staying In the Know

October 24, 2013

When you are in the market to purchase a home, there are many things you’ll want to take into consideration. There are aspects of the home purchasing process you’ll need to understand, some more important than others.

First and foremost, start with preparing yourself with the wants and needs of your new home, as well as what sacrifices you’re willing to make – because there will be sacrifices, no house is perfect, not even new construction. Our team ensures our clients are as prepared as possible when they’re ready to move forward. It’s our sincere pleasure to see our Buyers find the house that they’re excited to call home.

Next, you’ll want to determine what type of financing is going to work best for you. There are many different options out there and each type of financing has it’s own rules and regulations to follow, some even have stipulations on the property’s overall condition. Lean on your Realtor and Loan Officer when it comes to knowing if the home you are looking at may cause a financing issue, they should be able to give you a good indication if the purchase will go through, prior to writing an offer.

Now we’re on to house shopping! You’ll want to keep an eye out for the condition of the major systems and mechanics of a home, i.e. the furnace/boiler, air-conditioner, water heater, roof, windows, etc. These are expenses that are more costly to replace, especially if you’re not prepared for them. When you’ve found a home that fits your needs, take a second look at these systems with your Realtor, write your offer accordingly and most importantly, get a home inspection. A home inspector will look at things that are not easily visible to you or your Realtor, you will need this inspection to understand how to care for your home and to determine if there are any items that should be discussed with the Seller.

Being an informed Buyer and aware of these few steps will make looking at homes much more enjoyable. While some properties may seem to be a great deal, they may also turn into a money pit if you don’t take the necessary precautions. On the other hand, many will be just what they seem to be – a not quite perfect yet fantastic home, at a fair market price.

Our Team looks forward to all of our clients finding the home of their dreams and we’ll be there to help with these and all the other steps in the home purchase process. We are here for the good, the bad, the ugly and everything in between.

If you are thinking about purchasing a home and/or need to sell your home, contact us today. We will go over current market trends and have some fantastic lender referrals available, all who are ready and able to assist you. My team and I are licensed Realtors in MN, working in the Twin Cities and greater Metro Areas and we’re dedicated to providing the very best service to all of our clients – past, present and future.

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Chelsea Knutson and the Better Living Group

Realtor- GRI, ABR, CDPE

Keller Williams Classic Realty NW

Posted in Community /Real Estate News, Updates & Trends /

Home Buyers | Credit Scores & Down Payment Requirements Ease

October 16, 2013

If you are thinking about purchasing a home and are concerned about getting a loan due to what you’ve heard about and/or previously experienced when it comes to getting approved for a loan, it’s time to take another look.

A recent study by Housingwire, says that lenders are starting to ease up on borrowers. Lenders are beginning to approve more loans for those who have credit scores under 700. This is great news for all homebuyers who have some debt or discrepancies that held up the approval process in the past. Whether it is higher student loans, credit cards or a past short sale or foreclosure, you may now have the opportunity to purchase your new home, depending on your current credit score. The fact that lenders are easing up on requirements will make it easier for homebuyers to come in and get a loan to purchase the home of their dreams.

The Housingwire study also stated that banks have started to lend larger amounts of money while requiring a lower down payment. The minimum down payment for a Conventional loan could be as low as 3 to 5% and FHA is 3.5%, which is a low down payment for those who have cash flow, however, want to keep some of their nest egg in the bank.

If you are thinking about purchasing a home and/or need to sell your home, contact me today. We will go over current market trends and set you up with some fantastic lenders who are ready and able to assist you. I am a licensed Realtor in MN, working in the Twin Cities and greater Metro Areas and am dedicated to providing the very best service to all of my clients – past, present and future.

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Chelsea Knutson

Realtor- GRI, ABR, CDPE

763-496-2903

the Better Living Group

Keller Williams Classic Realty NW

Posted in Community /Real Estate News, Updates & Trends /