Our Blog
Monday, July 18th, 2011

Gardening is the past time of many residents in Waconia. Waconia United Food Shelf could benefit from excess vegetables that you may have grown and may not have a use for. Dean Hilgers and Paul Steiner, both Waconia residents, came up with the idea of a wonderful and easy way to support the community by donating fresh produce from local area gardens to the food shelf.

Hilgers suggested, “Grow 90 percent for yourself,  give 10 percent to your food shelf.” Starting up a garden can be fairly inexpensive. Many times you can buy a small packet of seeds for around $1 and with a little work on your part you can produce quite a few fruits or vegetable from the seeds.

The Waconia United Food Shelf is located at 11 S. Elm St. The food shelf currently serves those who live in Waconia, New Germany, St. Bonifacius, Cologne, and Victoria. On average they are able to help between 250 and 275 community members in need.  Hours of operation are from 9 am to noon on Monday, Friday, and Saturday, and from 4 to 7 p.m. on Tuesday and Thursday.

If you have produce to donate you are encouraged to call ahead of time to make sure there is enough space to store your fruits and vegetables (952) 442-3878. Please be sure to clean your produce before dropping it off.
If you are looking to call Waconia home feel free to contact me. You can reach me direct at (612) 418-1304 or feel free to email me.

Tom Schooley RE/MAX Action West
Licensed in MN/ Lic# 40042774

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Tuesday, July 12th, 2011

For the week ending July 2, there were 1,057 purchase agreements, a 58.2 percent increase over the 668 seen during the same week last year

Let's sprinkle in some context. Over the past 10 weeks in the Twin Cities metro area, pending sales have increased slightly from 986 to 1,057. Over the same 10 weeks in 2010, pending sales plunged from a credit-inspired 1,505 to an unimpressive 668. The resulting year-over-year comparisons? Three consecutive weeks of 50.0 percent or greater gains and eight consecutive weeks of double-digit gains in buyer activity.

On the seller side, activity remains comparable with 2010 levels. The 1,396 new properties added to the market were only 0.7 percent under year-ago levels. Strong sales gains coupled with stagnant listing activity is dramatically drawing down inventory levels.

There are currently 25,613 homes being actively marketed in NorthstarMLS. That's down 15.6 percent from the 30,072 seen at this time last year, which is the largest inventory decline since January 2010.

Click here for the full Weekly Market Activity Report.

From The Skinny.






For the week ending June 18, pending sales in the Twin Cities reached a new high for 2011. The 961 signed purchase agreements were 49.0 percent higher than the same week last year. That's the greatest number of pending sales in 57 weeks or since the week ending May 15, 2010—and only four contracts shy of the 2008 peak. It's also the sixth consecutive week of double-digit year-over-year gains, which is still partially explained by the sharp drop in sales once the 2010 credit expired.New listings were down 10.4 percent from last year to 1,534 new homes, and inventory levels are falling at an increasing rate for the fourth consecutive week, which is a good thing. Having reached or nearly reached our seasonal inventory peak of 24,017 active listings, it's likely that we'll finish 2011 with fewer homes for sale than we started with for only the third time in the past eight years.

Question: What do you get when you combine slowed listing activity with strong sales gains and falling inventory?

Answer: Continued stabilization leading to market recovery.


For the week ending July 2, there were 1,057 purchase agreements, a 58.2 percent increase over the 668 seen during the same week last year

Let's sprinkle in some context. Over the past 10 weeks in the Twin Cities metro area, pending sales have increased slightly from 986 to 1,057. Over the same 10 weeks in 2010, pending sales plunged from a credit-inspired 1,505 to an unimpressive 668. The resulting year-over-year comparisons? Three consecutive weeks of 50.0 percent or greater gains and eight consecutive weeks of double-digit gains in buyer activity.

On the seller side, activity remains comparable with 2010 levels. The 1,396 new properties added to the market were only 0.7 percent under year-ago levels. Strong sales gains coupled with stagnant listing activity is dramatically drawing down inventory levels.

There are currently 25,613 homes being actively marketed in NorthstarMLS. That's down 15.6 percent from the 30,072 seen at this time last year, which is the largest inventory decline since January 2010.

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Monday, July 11th, 2011

Loans backed by the Federal Housing Administration, Fannie Mae, and Freddie Mac are set to have new restrictions going into place on October 1st of this year. On October 1st the maximum loan amounts eligible for backing will decrease. If you are planning on buying a new home you may need to try to secure a home loan before changes take place.

Loan limits are set to change in many metro areas in the Twin Cities. The government is making the move in an effort to get the government out of the loan business and allow more room for the private sector to come in and compete. Currently, nine out of 10 new mortgage loans are backed by the government. The new limits that will be set into place on these loans will vary from county to county.  The limits on Fannie and Freddie loans will fall in over 250 counties and limits on FHA loans will drop in over 600 counties. Fannie and Freddie would have backed 50,000 less fewer loans last year had these limits been put into place at that time.  Here is an interactive graph to determine if the area you are looking to purchase a home in will be impacted.

Homeowners that are seeking loans that are greater than the limit will now have to to look for a jumbo loan. These types of loans tend to carry higher interest rates and require a larger down payment.

Buying or selling a home is a big decision and I would be delighted to sit down with you and discuss your options. If you are looking to call Waconia home feel free to contact me. You can reach me direct at (612) 418-1304 or feel free to email me.

Tom Schooley RE/MAX Action West
Licensed in MN/ Lic# 40042774

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Wednesday, July 6th, 2011

By Tara-Nicholle Nelson

Last year, we talked you through some surprising selling points – housing hot-buttons that can get your home sold, stat, like having Trader Joe’s market nearby. There’s so much information on the web these days about how to stage a home and create compelling curb appeal that you might think you know all you need to on the subject. Just when you thought you’d mastered the matter, we thought we’d brief you on 5 more things that can get your home sold, some or all of which might never have occurred to you.

1. Your neighbors. Most homeowners contemplating selling their homes understand the importance of well-kept neighboring homes. Many a buyer has pulled up to an amazing house, viewed it, and left shaking their head with woe because they just can’t cotton to buying the place on account of the shoulder-high weeds, car in the yard or crumbling ruins of the house next door.

On the flip side, your neighbors themselves – not just the homes, but the people – can actually help sell your home. Many homeowners know people who want to live in their neck of the woods; this is one reason many seasoned real estate professionals hold their listings open to neighbors and send out postcards to neighbors announcing the listing – the neighbors might know people who are interested in your home! Also, neighbors who are out and about chatting with each other, laughing and playing

with their kids, mowing their lawns or painting their fences, or even who just offer a smile and helpful area knowledge to the buyerto-be they pass on the street can make a very favorable impression on prospective buyers.

It’s a good idea, if and when you decide to list your home for sale, to touch base with neighbors you know and let them know; it’s in their best interests to get good new neighbors, so they might be able to go the extra mile in showing the neighborhood’s biggest asset – themselves – off to its best advantage.

2. The right sights, smells and sounds. It’s no news flash that the view of a used car lot; stinky foods or animal smells; and the siren song of a fire station next door could be deal-killers. What might surprise is some of the right sights, smells and sounds that

can help seal the sale of your home. My experience has been – agents, chime in here! – that the more natural beautiful sights, smells and sounds are, the more favorably they’ll be received by the largest population of prospective buyers.

For example, playing a soundtrack of classical musical is fine, but will cause some skeptical buyers to wonder what noises you might be trying to cover up – especially if you’re in a condo or other potentially thin-walled property where neighbor noise might be an issue. On the other hand, birdsong can be attractive to some buyers. Artificial air fresheners? Not so much. The scent of the jasmine or lavender that grows in your yard? Even allergy victims can appreciate that.

You might be desensitized to the amazing views of trees, mountains or even water outside your window, but pulling back the curtains so prospective buyers can see for themselves is an absolute must.

Home buying is a multi-sensory experience – visual staging of the property itself is no longer a plus, it’s a must. But homes which create pleasant impressions that fire on all of a buyer’s sensory cylinders definitely have the edge on their competition.

3. Your dog. The New York Times ran a piece a few months ago about sweet, well-behaved dogs (and cats!) who reportedly helped sell their owners’ Manhattan apartments. In a departure from the conventional wisdom that dogs should be removed and every trace of their presence erased from the home during showings, the article featured several buyers and brokers attesting totheir belief that the presence of a particular cat or dog “help[ed] sell a property by making the place seem warmer or more

appealing.” And I’m sure you’ve all heard me tell the story of the San Diego buyer who fell in love with a tract home listed at a price higher than all the nearly identical comparables he’d seen and wanted to make a full-price offer immediately – so long as the deal included the dog!

Definitely consult with your agent before you decide to implement leaving your dog at home for showings as part of your plan. I’m a dog lover, and would be concerned that someone might inadvertently let one of “my girls” out, if I left them there while my house was being shown; as well, would-be buyers or their agents may have allergies your pet could set off. Lately, it seems like I’ve seen many brokers attempting to capture the best of both worlds by making sure that the family pet or even the broker’s own pet is captured in a charming tableau in 1 or 2 of the listing pictures, even if they’re not present at the home during showings.

4. Your happiness. Video and even written love letters that extoll all the virtues for which you love your neighbors, your neighborhood and your property are contagious to buyers. I’ve seen sellers help buyers see their homes through their own loving eyes by posting videos on YouTube and including the link on the listing flyer or even by putting a binder containing a letter plus menus and flyers from their favorite neighborhood restaurants, dry cleaners and other local merchants out on the counter during showings.

Wide-open curtains that let light stream in, light and bright paint and decor colors and other home features that science has proven make residents more happy and functional also create this thought process in a buyer’s mind: “Hmm, these people seem happy here. I could be, too.”

Similarly, indicators that you invested a lot of love in your home, by keeping it in immaculate order and pristine condition, by tending a well-cared for kitchen garden, lovingly furnishing and making comfortable (if not overly customizing) your kids’ rooms, all create the feel that a home was happily lived in – it’s like staging your home with a life well-lived, not just paint and tile.

5. The freeway or subway you thought was too close. There is such a thing as a freeway or elevated train tracks being too close to your home; if your place rattles or roars, for example, every time the train passes, chances any buyer will view that as a selling point are pretty slim. However, homebuyer attitudes toward being located near freeways and subways or bus lines are ac hanging. Every upward click of gas prices renders buyers a tiny bit more interested in a location that is more commutable.

Where yesteryear’s buyers were all about the posh exclusivity of far-out suburbia, today’s buyers are more interested in financial and ecological efficiency and convenience. I’ve never heard so many homebuyers looking to own homes that will allow them to ditch their cars entirely as I have in recent years!

What might once have been seen as too close to the freeway has gotten a new spin, lately, as a highly convenient, commute friendly location.

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Wednesday, July 6th, 2011

Posted by David Marine

 

For many people, finding a new home is more than a matter of personal taste and individual finance – it’s a family affair. I’ve bought a house as a newlywed couple and then again with a child, but buying one now with my three boys would certainly be a different experience. For those buying a new home to accommodate a growing family, it is an exciting step in one’s life, but it can also be a balancing act.

A recent survey released by Coldwell Banker Real Estate found that 65 percent of homeowners who are also parents purchased their first home before becoming pregnant or within one year of their child’s birth. Wow, that’s a lot going on in a person’s life at one time, but it makes sense. It isn’t until you have a child that you realize just how much space this tiny, little person takes up so that apartment or condo you bought won’t cut it with a munchkin crawling around.

For those consumers who are in a position like this, Coldwell Banker has put together five tips for buying a home with a family in mind:

Proximity to family. Nearly half of the homeowner respondents in a recent survey from Coldwell Banker reported that they live less than 10 minutes from extended family members, with 72 percent choosing to live within 30 minutes. Buying a home that is close to family members can provide support, help and guidance that can be a great benefit both emotionally and financially. With extended family nearby, families have the opportunity to spend more time together and even save money on occasion. The cost of babysitters and long distance travel to visit relatives can really add up!

Existing floor plan. Each family has its own unique dynamic and should take its distinctive needs into consideration when exploring different floor plans. While having a master bedroom upstairs and the other rooms downstairs may work for some families, others may prefer to have all of the bedrooms on the same level.

Surrounding neighborhood. The neighborhood looks different from the eyes of a parent. It’s wise to get an idea of what the neighborhood offers for children, such as local recreational centers, parks or playgrounds as well as the school system, before deciding on an area to live. Coldwell Banker recommends home buyers utilize online tools such as Coldwell Banker On Location or local neighborhood sites that can offer consumers a wealth of local market information.

Future lifestyle needs. They say children grow up in the blink of an eye, and while you don’t believe at first, it’s absolutely true. Make sure the home you purchase leaves growing room and will still fit your family’s needs a few years down the road, especially if there are plans for more children.

Budget. One of the most important things for all potential homeowners to consider is their personal budget. Growing a family and having children usually means a growing list of expenses as well. Estimate monthly expenses along with a mortgage payment to ensure all financial commitments can be reasonably met.

These are just 5 simple steps for buying a home with a family, but there’s so many details involved that it certainly helps to have a trusted agent by your side to guide you through the process. Don’t just take my word for it though.

Check out this testimonial video from a family in Rockwall, Texas that used trusted Coldwell Banker agent, Evan Matteson, to help make their move into a bigger place a smooth and enjoyable experience.

 

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Tuesday, July 5th, 2011

Home warranties being made available on homes for sale in Waconia are nothing new, and in fact they have been around for decades in the real estate market. In the last ten years they have gained in popularity. They serve to provide somewhat of an “insurance policy” that sellers can provide to buyers. Many buyers like the idea of having some sort of protection if an appliance breaks, or an electrical or plumbing issue arises.  Are these home warranties really worth it?

A home warranty sound good, but in reality they tend to have many limitations and issues.  The biggest problem occurs from not having a clear understanding on what is covered under the policy.  Many new home buyers who receive a home warranty policy tend to not read it in full and have a misconception on what all is covered. There can be many things that are not covered.  Many basic policies tend to not cover pre-existing conditions or certain appliances.

Are home warranties worth the $300 to $500 a year that they cost? It all depends.  There are those that make claims that get resolved quickly and the home owner is happy, but there are also just as many home owners who have claims that go ignored and are very angry with the whole situation.

From a seller’s point of view you may feel that by offering a home warranty that it is a great marketing tool to help get your home sold, and many would agree that it is. In fact, 80% of all existing residential home sales come with a home warranty policy.

If you are the home buyer do not forget that you have the policy. Many home owners will forget all about the policy that was given to them at the time of purchase. It can be a frustrating process at times when it comes to using your insurance policy to file a claim.

If you are buying or selling a home in the Waconia area and a home warranty is part of the real estate process be sure to read the details of the policy in full and gain a true understanding on what is covered and what is not.

If you are looking to call Waconia home feel free to contact me. You can reach me direct at (612) 418-1304 or feel free to email me.

Tom Schooley RE/MAX Action West
Licensed in MN/ Lic# 40042774

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Monday, June 27th, 2011

For the week ending June 18, pending sales in the Twin Cities reached a new high for 2011. The 961 signed purchase agreements were 49.0 percent higher than the same week last year. That's the greatest number of pending sales in 57 weeks or since the week ending May 15, 2010—and only four contracts shy of the 2008 peak. It's also the sixth consecutive week of double-digit year-over-year gains, which is still partially explained by the sharp drop in sales once the 2010 credit expired.New listings were down 10.4 percent from last year to 1,534 new homes, and inventory levels are falling at an increasing rate for the fourth consecutive week, which is a good thing. Having reached or nearly reached our seasonal inventory peak of 24,017 active listings, it's likely that we'll finish 2011 with fewer homes for sale than we started with for only the third time in the past eight years.

Question: What do you get when you combine slowed listing activity with strong sales gains and falling inventory?

Answer: Continued stabilization leading to market recovery.

Click here for the full Weekly Market Activity Report.

From The Skinny.






For the week ending June 18, pending sales in the Twin Cities reached a new high for 2011. The 961 signed purchase agreements were 49.0 percent higher than the same week last year. That's the greatest number of pending sales in 57 weeks or since the week ending May 15, 2010—and only four contracts shy of the 2008 peak. It's also the sixth consecutive week of double-digit year-over-year gains, which is still partially explained by the sharp drop in sales once the 2010 credit expired.New listings were down 10.4 percent from last year to 1,534 new homes, and inventory levels are falling at an increasing rate for the fourth consecutive week, which is a good thing. Having reached or nearly reached our seasonal inventory peak of 24,017 active listings, it's likely that we'll finish 2011 with fewer homes for sale than we started with for only the third time in the past eight years.

Question: What do you get when you combine slowed listing activity with strong sales gains and falling inventory?

Answer: Continued stabilization leading to market recovery.

Posted in The Skinny | Comments Off
Monday, June 27th, 2011

Hundreds of top athletes from around the country ranging from age 15 to 80 gathered in Waconia this past weekend for the Lake Waconia Triathlon. The ½ mile swim, 20 mile Bike ride, and 4 mile run pushed many to their breaking point this weekend.  The 22nd annual Lake Waconia Triathlon went off without a hitch and was a major success.

The race started at 8:30 am near the public beach at Lake Waconia Regional Park and finished at the same place. Marvin Denzer, race director said that the triathlon drew top male and female athletes from across the state.  The top five who won the race are now able to have the opportunity to compete in any race across the country. This honor makes the triathlon in Waconia very sought after. Many came to compete for the chance to qualify for the Best of the U.S. Amateur Championship triathlon that will be held in Alabama this September. The top three male and females from the weekends race are qualified now for that national event. The Lake Waconia Triathlon is the only one in the state of Minnesota that allows for athletes to qualify for the national triathlon.

Female best of US went this year to Becky Youngberg of Eden Prairie and best of US Male went to Dan Hedgecock of Minneapolis.

Living in Waconia has a lot to offer for everyone. Buying or selling a home is a big decision and I would be delighted to sit down with you and discuss your options. If you are looking to call Waconia home feel free to contact me. You can reach me direct at (612) 418-1304 or feel free to email me.

Tom Schooley RE/MAX Action West
Licensed in MN/ Lic# 40042774

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Monday, June 20th, 2011
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Monday, June 20th, 2011

There are many home owners in Minnesota and across the United States that are facing foreclosures. The month of May showed a little easing when it comes to foreclosure filings in Minnesota.  When compared to this same time period last year foreclosure filings were down 11.2% in Minnesota. Many real estate experts attribute the delay in the processing of foreclosures to the drop that was seen. It is predicted that overall there will be less foreclosures in 2011 compared to 2010.

According to data recently release by Realty Trac, there were 2,813 proprieties in Minnesota that received foreclosure filings in May. That is equivalent to 1 in every 829 homes throughout the state. These numbers show an increase of 6.3% from April of this year.

Across the nation foreclosure filings were down 33% from a year ago. That number is equivalent to 1 in every 605 households. These numbers were down 1.9% from April of 2011.
James Saccacio, chief executive at RealtyTrac had this to say about lenders, they are “unevenly pushing batches of bad loans through foreclosure as they overhaul their paperwork and documentation procedures and as they determine that some local markets are able to absorb more foreclosure inventory.”

There has also been a large amount of effort in the state of Minnesota to help home owners that are facing foreclosure by helping them secure loan modification.  The Minnesota Foreclosure Partners Council has helped prevent 25,000 foreclosures since 2007 throughout the state.
Buying or selling a home is a big decision and I would be delighted to sit down with you and discuss your options. If you are looking to call Waconia home feel free to contact me. You can reach me direct at (612) 418-1304 or feel free to email me.

Tom Schooley RE/MAX Action West
Licensed in MN/ Lic# 40042774

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