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 – Updated One ½ Story home in Roseville

February 6, 2014 Hurm - Porch

My Team, the Better Living Group at Keller Williams Classic Realty NW in Maple Grove, MN, has just listed this beautifully updated one ½ story home in Roseville, MN. This home includes over 1,800 sq ft of space including 4 bedrooms and 3 bathrooms, one on each level. The beautiful and original hard wood floors are sure to catch your eye!
Off the back of the home there is a beautiful 3-season porch, it stays nice and toasty when enjoying your morning cup of coffee and sitting by the fireplace! Also including a large deck with plenty of space to entertain throughout each season.
If you are interested in this property, are thinking about purchasing a home in the Roseville area and/or need to sell your home, contact us today! 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.
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.

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Chelsea Knutson and the Better Living Group

Realtor- GRI, ABR, CDPE

Keller Williams Classic Realty NW

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

Just Listed: Move-In Property with Elm Creek Park Reserve Access

January 23, 2014 Martini - Exterior Front

Our team, the Better Living Group, in Maple Grove, MN has just listed this beautiful single family home! This home has many great amenities including an upgraded kitchen with stainless steel appliances and beautiful granite countertops. It is a 4-bedroom house with 2-bathrooms, equipped with plenty of living space and extra storage.
An easily accessible location with front to back tree coverage, large backyard, a fire pit and a horse shoe pit – all made to entertain on those beautiful summer days & nights that are about to come our way! The backyard backs up to Elm Creek Park Reserve trails, with miles of fun for winter or summer activities.
If you are interested in this property, are thinking about purchasing a home in the Maple Grove area and/or need to sell your home, contact us today! 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.
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.

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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 /

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 /

Minneapolis on The Rise: Real Estate

September 20, 2013

Every real estate market in the U.S, never stays the same. Housing is nearly always shifting with market ups and downs that certainly change the way we move forward in selling and buying a home. The good news, statistics show Minneapolis is on the upswing and on the rise!

Many factors will go into determining what the current market trends are in a particular area. The Minneapolis Area Association of Realtors has reported that pending home sales, in August 2013, rose 10.9%. With less than 4 months of supply on the market, we are currently in what some would say is a Seller’s market. This means that home prices are on the rise and with inventory this low, many buyers looking to purchase are finding there is not much to choose from – which tends to give Sellers the advantage when it comes to negotiating the sale price. Current records show, the Real Estate inventory holds 15,773 active properties for sale, which is 9.9% lower then August 2012.

With that being said, more properties are coming up for sale and interest rates are coming in at a 5 week low. So even though home prices are on the rise, homeowners are still looking to sell and Buyers are getting great interest rate opportunities to purchase, which makes this the kind of market we all should be taking part in.

On a side note, foreclosures and short sales still have a presence when it comes to real estate inventory, something to keep in mind when either selling or buying in this market. In August of 2012 foreclosures and short sales made up 35.8% of the Real Estate sales activity, that number is down to 20.7% this year. Making it so the majority of houses for sale are traditional sales, thankfully, no waiting games or crazy addendums attached.

Of course when we take in all this information, we want to remember the current market in each area has its own local statistics, something my team and I are here to provide when you’re ready to sell or buy your new home. Feel free to contact us, anytime.

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 /

July 2013 Real Estate Trends

July 30, 2013

House prices are on the rise and it is a great time to sell! If you are thinking about selling your home… contact me today for some great information on the current market in your area and how I can be of service to you and best fit your Real Estate needs.

Chelsea Knutson
Realtor- GRI, ABR, CDPE
763-496-2903
the Better Living Group
Keller Williams Classic Realty NW

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

Fixed Rates for Mortgages sky rocket, the most since 1987

July 17, 2013

Three weeks ago the mortgage rates took a huge turn. A 30-year fixed rate mortgage went from 3.93% up to 4.46% in one week. Compared to last year when a 30-year mortgage was at 3.66%. The 15-year fixed rate went from 3.04% up to 3.5%. When last year the fixed rate for a 15-year mortgage was at 2.94%, this is a drastic change in a short period of time. This is the largest jump and change in interest rates since 1987.

A 30-year fixed rate mortgage is very common when taking out a loan on a house, so this increase will affect homebuyers. There is so much to look at when purchasing and or thinking about purchasing a home and current interest rates is at the top of the list. Because interest rates have such a major impact when purchasing a home, they have the power to change the potential buying power for current and future homebuyers.

When getting approved for a loan, many factors are reviewed which will give you a price range of what will be affordable for your lifestyle. Working in the interest rate will shift your “budget” lower or higher, depending on the rates at that time.

Due to the change and jump in mortgage interest rates, homebuyers will feel the affect on their monthly house payments compared to two weeks ago when the average interest rate was at about 3.75. Many people, including myself as a Licensed Realtor, will look at this with cautious eyes, and will keep watch on where they will go from here.

If you or someone you know has questions about moving forward with your new home purchase and/or are looking to see what your property value is in the current market – give us a call today! We have all the tools, experience and expanded referral list that you’ll need to move forward.

Posted in Real Estate News, Updates & Trends / 1 Comment