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.

Unknown
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.

Kelly - Kitchen1

Kelly - Ext Back2
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 /

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.

Hurm - Porch

Hurm - Ext Back Porch
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 /

RE 2014 | Sellers No Longer In the Driver’s Seat

January 30, 2014 real_estate_picture

The real estate market seems to always be in a state of ups and downs – you may even refer to it as a rollercoaster ride of supply and demand. In 2013, we saw a low inventory of homes on the market, making it tough to satisfy all the Buyers who were looking to purchase. In turn, this created multiple offer situations for many Buyers looking to snatch the home they love. This has been ideal for residential sales as its been awhile since they had the pleasure of requesting the ‘highest and best’ offer for the property.
Most recently, we’ve seen a slight turn in inventory. More properties are beginning to come on the market and list prices are rising along with them. This combination is forcing Buyers to become more money savvy, taking a closer look at the costs they will incur for the home they want to purchase. Of course the rise in home prices is great for those looking to sell their home, and typically puts a positive spin on the equity issue many have been experiencing.
With all this in mind, and knowing that interest rates are expected to rise in 2014, Sellers still have work to do in order to compete in this market. Many Buyers aren’t looking to purchase the ‘fixer upper’, and if you’re one of the few and brave that are, you’re certainly not looking to pay top dollar. What to do to get top dollar? Clean it, stage it and price it right – this means price it in accordance with the market, not in accordance with what you’d like to get out of it. Also, Buyers are expecting a well cared for and mostly updated interior with a groomed and maintained exterior, and they’re willing to walk away if the home’s condition and price don’t match up.
This is just the beginning of our New Year, if you have questions about how to get the most amount of money out of your home, or are in need of assistance when it comes to purchasing a new one – the Better Living Group is here for you. Let us know how we can help make your 2014, the best one yet!

real_estate_picture

Chelsea Knutson and the Better Living Group

Realtor- GRI, ABR, CDPE

Keller Williams Classic Realty NW

Posted in Community /Local Festivities /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.

house_diag2

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.

Unknown

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 /

Showings: Homeowner Tips & Tricks

October 9, 2013

When selling your home, many Sellers ask how they should prepare when Buyers schedule a showing to walk through their house. Do I stage it? Do I put certain things away? There are many tips that we can give you when you are in the market to sell your home. In order to make the most amount of money in the most efficient amount of time, here are a couple of things to keep in mind.

First up, simplify. When your home is filled with all of your personal pictures and memories, it makes it harder for potential home buyers to walk through and picture themselves living out their future memories. Also, if there is just a few too many pieces of furniture to maneuver around, it will make it more difficult for the Buyers to see how large and useful the space will be for them. Clearing out and simplifying your house for sale will benefit both parties – as the Seller, you’ll be halfway done with packing before the sale, which will make your move less stressful and more enjoyable.

Second, the cleanest house always wins. Buyers will make an initial judgment about a home within the first few seconds of entering. Putting away your morning dishes, wiping down the main visible areas and vacuuming will benefit their initial reaction to entering your home. A clean and clutter free house is a great start to making the best out of selling your home.

If you are thinking about selling your home, or buying a home, give us a call. The market is hot, home prices are on the rise and interest rates are still historically low. We always want the best for our Buyers and Sellers and are readily available to help with all of your Real Estate goals and dreams.

westchester_tool_rentals_clean_house

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 /

Appraisals: Who’s Paying for it Anyway?

August 12, 2013

Once you have found the right home and are ready to move forward from your inspection, your lender will then perform an appraisal of the home. Unless you’re paying in cash, this will be a required step for your loan approval process. The lender being used to purchase your home needs to ensure the home you’re looking to buy, is currently valued at the price you have chosen to pay.

With that, an appraisal is typically an out-of-pocket expense for the Buyer and usually occurs prior to closing. The bank will order a third party appraisal company to go out to the property, review the property with its most recent comparables, check current market trends and bring back an estimated value. The appraiser is an individual who’s professional opinion will be one of the deciding factors that will effect the final approval of your loan.

Lenders require appraisals due to the fact that they don’t always come out with the value we all may expect. If your appraisal comes in lower than your purchase price, you and your licensed Realtor will look at the different options to move past the issue. If your appraisal comes in high, your loan will move forward and you’ll know you are purchasing the property for less then what it has appraised for and may have instant equity.

If you have any further questions on the process of buying a new home, or selling a home, please contact me today. I am a licensed Real Estate Professional in the Twin Cities Metro and Greater Minnesota Areas and strive to provide the best real estate service, with the support of my team the Better Living Group, for all of my past, present and future clients. My clients, are my friends.

appraisals250_250

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 /

The Importance of a Home Inspection

August 2, 2013

When a purchase agreement has been signed, it is usually because the Buyer(s) have found “the one” and have already begun an emotional attachment to the property. As a Licensed Realtor in Minnesota, I am here to look past the emotional side and look for things that could adversely affect the Buyer’s use or enjoyment of the home. For example, I may preview for the condition of the roof, siding, windows, cracks in the foundation and possible water damage yet I am not a Home Inspector, a Home Inspector is the person who will climb onto the roof, go into the attic, inspect the electrical box, etc. – all things that are needed to make an informed decision on the condition of the property.

When a Home Inspector goes through a property they look at everything, from the exterior to the interior to the condition of the major systems that run the home. This is all to determine the home is safe and sound and won’t end up being a money pit. They are also there to make sure you know how to care for and maintain the home you are purchasing, no matter how long you intend to stay there.

Getting a home inspection is vital to becoming a successful homeowner. We encourage our clients to get a home inspection because no house is perfect, there will always be imperfections and being prepared for them is the best way to move forward. As a licensed Realtor, I want my clients to close on their new home feeling confident about their purchase, and the information given to them throughout an inspection is one of the ways I ensure that outcome.

Home-Maintenance

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 /