I know I am a bit biased since I live in St Paul’s Macalester-Groveland neighborhood but it is very evident that the residents here are proud to live in this highly desired area of St Paul, MN.
You have to love a community that has a “Beautification Committee”.
This committee conducts a competition annually in spring and fall (my 2 favorite seasons by the way….) Alley Garden Awards in addition to other “beautification” projects throughout the Macalester-Groveland neighborhood. The Alley Garden Awards, in my opinion, provide a benefit to everyone because, if you have ever driven through the alleys of St Paul (or most cities for that matter) you probably noticed that they are typically not all that attractive. But, this competition gets neighbors to at least think about what their alley looks like and maybe plant a few extra flowers or pull a few extra weeds.
The committe also hosts an annual plant exchange which is great because not only can you drop off your unused flowers and plants for “recycling” but you can also pick up some great items in return. And, this is a great way to get to know some of your neighbors which is also good for safety and crime fighting.
If you are interested in being a part of the beautification of St Paul’s Macalester-Groveland, the meetings are held on the 4th Monday of each month from March – October.

For more information about the Macalester-Groveland Neighborhood check out www.macgrove.org or call 651.695.4000

Interested in moving to Macalester-Groveland? Give me a call!
Jen McKinnon
Realtor/Investor
MN Real Estate Team
612.384.1073
jen[at]mnrealestateteam[dot]com

Have you been thinking about buying a second home, retirement home or cabin in Minnesota? It is a BUYER’s market right now which means you can and usually will be a great deal on your choice of homes. The Land Of 10,000 Lakes has alot to offer but here are a few things to consider when making your decision.

1. Know what you can afford. Financing remains tight so you will need to have everything in order and have a credit score over 740 to get the lowest mortgage interest rates. Talk to a reputable mortgage lender BEFORE you start looking – I recommend the MN Home Loan Partners .
2. Pick a location in MN that you love. Deals abound just about everywhere – even on some of Minnesota’s lakefront properties. Do you want water, winter activities, antique shopping, restaurants, close to Minneapolis / St Paul or in the woods? One word of warning – stay away from developments that have not been finished or have fallen into foreclosure. You could run into lawsuits or issues with associations.
3. Drive a Hard Bargain. Don’t be afraid to make an aggressive offer – most buyers will at least look at your offer and if need be give you a counter offer. But when you find a property you like DO make an offer and do it quickly. We are starting to see multiple offers on the best properties and especially properties in high demand areas. Either you or your REALTOR should determine what similar properties have sold for recently and then bid BELOW that but be ready to close quickly and don’t have alot of contingencies if any (although I do ALWAYS recommend a professional home inspection). You can get away with offering 10% below the list price or 20% if you want to be really aggressive but I’d expect a counter offer. Go low – you’d rather start low and meet in the middle than offer too much and then wonder if you could have gotten it for less.
4. ALWAYS use a professional REALTOR.. A buyer’s agent is legally bound to represent your best interest in any transaction and this means to get your the BEST price and terms possible.

If you want to know more or feel it’s time to start looking please give me a call!

Jen McKinnon
Realtor / Investor
MN Real Estate Team
612.384.1073
jen[at]mnrealestateteam[dot]com

Yes, it is a home buyers market. Yes, the interest rates are great. Yes, there is alot of home inventory to choose from in the Twin Cities.

Think about this: If you wait and “play the market” you are also gambling that the interest rates will hold steady or drop. So, even if you are right and home values do drop 10% BUT interest rates go up only 1%, you will have negated the entire 10% price drop over the course of a 30 year mortgage loan. The moral of the story – it’s always a crap shoot. You will never hit it just perfect and hindsight is always 20/20 and then it’s too late. Buy now while the gettin’ is good!

Trading Up: Didn’t think you could afford that bigger home? Now you can! You can get alot more home for the money in this market. A home buyer’s market could also be called a trading up market. Even if your current home sells for less than what you bought it for (which is the case for MANY home owners all around the Twin Cities), typically, this will be a smaller amount and can be offset by greater savings in the new home purchase.
Here’s how: Say your home cost $200,000 and sells for 10% less at $180,000 or $20,000 loss as a seller. This same 10% price drop on the normally $300,000 home you want to purchase equates to a list price of $270,000 for a $30,000 savings as a buyer.

There is ALOT of inventory – around 9-10 months worth of inventory. This is good because you could have your pick of the litter but bad because there are almost TOO many choices. Make sure you take a little time to research an area or 2 or even 3 that you want to live in – this will save you alot of time when you get ready to see houses live. For your sanity and to be realistic, I’d say keep your “serious considerations” pile to no more than 3-4 homes at any given time.

Bottom line – get pre approved and start looking. Jump off that fence and take charge. Real Estate is still one of the most financially sound decisions you can make! I don’t know about you but my Real Estate is worth alot more than my 401k right now!

Give me a call – I’d be happy to help!

Jen McKinnon
Realtor/Investor
MN Real Estate Team
612.384.1073
jen[at]mnrealestateteam[dot]com

Are you a first time home buyer and on the fence about buying your first home in the Twin Cities?
Get off the fence! This is a great time to buy in the Twin Cities with low rates and the first time home buyer $7500 tax credit that the US Government is offering.

So, who does the Government consider a first time buyer? Basically, if you have not owned a primary residence in the last 3 years and are not married to someone who has owned a primary residence in the last 3 years, you are considered a first time home buyer in the eyes of the Government.

Like all good things, this too will end as of June 30 2009. So…like I said, get off the fence and jump into the great Twin Cities home buying market with both feet!

There are alot of great houses, condos, town homes and investment properties out there in all price ranges! If you want more information about this first time home buyer tax credit please go to the Federal Housing website.

Need help? Give me a call!

Jen McKinnon
Realtor / Investor
AGENT REFERRAL NETWORK
MN Real Estate Team – #1 team in MN!
612.384.1073
jen[at]mnrealestateteam[dot]com

If you are a landlord, don’t forget that by law, you need to get each tenant a Minnesota Certificate of Rent Paid by January 31 2009 for any rent paid to you for 2008. They are easy to fill out as long as you know how much rent the tenant paid – I hope you’ve kept track!
To see more information about this go to Minnesota Certificate of Rent Paid

If you can answer yes to the following questions, then you may want to look at the following cities for your new home.
1. Do you want an open floor plan to accomodate family / entertaining needs?
2. Do you want a modern kitchen and bath?
3. Do you want a larger yard?
4. Do you want good schools and parks?
5. Do you want a quality built home?

If you answered yes to any of these, The Twin Cities suburbs such as Edina, Plymouth, Chanhassen and Minnetonka may be up your alley! These cities are not only popular among Twin Citians but boast nice homes, great schools, restaurants, shopping, waterfront and more!

If you are wondering when to buy your new home and thinking you will wait until the very bottom of the market, trends in the Twin Cities are showing that it won’t be long. According to Rob Bonahoom, mortgage coach at Cornerstone Mortgage “I think some time mid summer we will see the market get back to what we call a “balanced market”. This means, the time is NOW to buy. Mortgage rates are great and homes are priced right! There are many deals to be had if you are looking to move up into one of these Twin Cities suburbs.

According to MPLS / ST PAUL magazine here is what these upscale suburbs have to offer:

Edina
- Close proximity to Minneapolis
- Immaculately clean thanks to City of Edina street sweeping and plowing
- Great school system with a national reputation
- 50th / France shopping and restaurant district
- A few very high end neighborhoods (White Oak, Country Club, Highland and Rolling Green)
- Country Clubs and Golf Courses

Plymouth
- One of the Twin Cities most popular 2nd ring suburbs
- Close to Minneapolis and Lake Minnetonka
- Developments that have larger residential lots (great for kids and pets and private space)
- Neighborhoods that were designed to slow or discourage traffic
- Extensive trail networks
- Great schools including Wayzata High School
- Wonderful sense of community

Chanhassen
- Further away from the hustle and bustle of Minneapolis
- 5 city parks and 12 lakes
- Great value for your money on homes
- New state of the art High School set to open in Fall 2009

Minnetonka- Considered one of Minnesota’s best school districts which also serves nearby Deephaven and Shorewood with spectacular theater and language programs.
- Water, water, water! Lake Minnetonka is the biggest but there are 4 others to enjoy as well.
- Mature suburb with charming homes that typically have large lots for play and or expansion.

If you want to learn more or get out and take a look at what these or any other suburbs have to offer, please give me a call!

Jen McKinnon
Realtor/Investor
AGENT REFFERAL NETWORK
MN Real Estate Team – #1 team in MN

612.384.1073
jen[at]mnrealestateteam[dot]com
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