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

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

Ah, property taxes….Last year, the property taxes on my St Paul rental properties went up almost 50% while the value of the property went down.  Many property owners in the Twin Cities – especially St Paul, saw felt this similar pain.  I tried calling my local tax appraiser and was told that I was too late to appeal SOOOOO, this year I will pay more attention to the Proposed Property Tax Statement that comes my way in mid – end of November.

So, can you appeal your property tax statement and get it changed?  Yes.  Will it work?  Who knows….
Property taxes are based on the market value of the home. As we all know, market values have dropped recently which would make you think that your property taxes should drop too, right?! The assesment is typically done in the year or so PRIOR to the taxation year so your 2008 tax value was based on the market value of your home from 2007 or maybe even earlier and are not always reevaluated on an annual basis.

Steps:
1. Watch for and READ your Proposed Property Tax Statement when it arrives in the mail.
2. If you feel that your home is not “worth” the amount on your statement, have a licensed REALTOR do a market analysis for you on your home.
3. A market analysis will tell you what other similar homes in your area have sold for recently which will tell you what you could probably sell your home for. This will give you an updated “market value”.
4. If you still feel that the assesment amount is inaccurate you can file an appeal with your local taxing jurisdiction but make sure you know what the filing deadline is.
5. You may also be required to appear at a live hearing before the assessment appeal board.

Bottom line, if you don’t agree, fight it. Nothing changes if you don’t act. I think we all pay enough taxes and any chance we get to fight it, we should.

Good luck!

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

Did you know that Minneapolis was voted the 7th “Greenest City” by www.sustainlane.com?
Check out their website for more information.

If you are looking for “green” or eco – friendly home design trends with advice from local experts, check out the latest issue of MARQ magazine or go to www.marqtwincities.com for their article titled “Greenway”.

Buying a home in the Twin Cities is a big deal - buying a home is the biggest purchase most of us will ever make in our lifetime. 

So, you’ve found the “perfect” home in the Twin Cities and you want to write an offer up right now and can picture yourself moving in tomorrow….BUT, in my opinion, it’s always a good idea to get a 2nd opinion from someone other than your Realtor.  Whether it’s your spouse, significant other or a friend who’s opinion you trust and value, a 2nd opinion can save you from jumping into something too quickly or can confirm your thoughts about the “perfect” home.

It is your Realtor’s job to assist you in finding real estate to look at, offer professional opinions on the qualities of the home and neighborhood and guide you through the process of writing an offer and seeing it through to closing.  A Realtor holds what is known as Fiduciary Duties to each client and it is the Realtors duty to provide: Loyalty, Confidentiality, Disclosure, Obedience, Reasonable care and skill and Accountability.  The Realtor should do what you, the client wants within the law and within the fiduciary duties listed above.   A Realtor shouldn’t talk you into or out of a home but merely give his or her opinion.

So, bottom line, your Realtor can give their opinion but shouldn’t tell you whether to write and offer or not or whether this is the perfect home for you.  Your Realtor should provide a professional opinion and you should really have a friend, spouse, etc…come check out the house to make sure it is “perfect” for you.  The best scenario would be to have your 2nd opinion along for the first visit because sometimes you do find the “perfect” house and should write an offer right away.

As a buyer in the Twin Cities, what you want to avoid is writing an offer, getting it accepted, paying for an inspection, getting all the paperwork moving with the lender, the title company and both Real Estate companies and then having your 2nd opinion take a look at the home, give you their thoughts and then realizing that you made a mistake.  Although it is MUCH better to back out at this point (and you still can within your inspection contingency timeline – see my related article http://http://www.twincitiesrealestategal.com/home-buying/how-to-sweeten-the-deal-tips-on-getting-the-house-you-want/ ), you could have saved yourself time and money by having your 2nd opinion along for the very first visit. 

The last thing your Realtor wants you to do is purchase a home that you later regret.  We are on your side and want you to be happy with your purchase.

So, do you know who your 2nd opinion will be?

Jen McKinnon
Realtor/Investor
AGENT REFERRAL NETWORK
MN Real Estate Team

612.384.1073
jen[at]mnrealestateteam[dot]com

I live in this lovely and popular neighborhood of St Paul, MN and what follows, is some history and statistics about the area I call home.

Many of the homes in this neighborhood are single family, owner occupied homes but this neighborhood has a great history that starts back in 1880. The Macalester College Board of Trustees bought farmland outside of St. Paul and divided it into houses and the campus of Macalester College. It evolved into a farming community and then into what was considered a commuter “suburb” and now is now what you see today – a lively, bustling community of families and neighbors who care about their homes, businesses and eachother.

Macalester-Groveland is bordered on the north by historic Summit Avenue. To the south are Randolph Avenue and Highland Park. The Mississippi River makes up the west border and Ayd Mill Road the east. One of the most popular streets in St Paul, Grand Avenue, runs east and west through Mac-Groveland. 

Mac-Groveland has 2 major institutions of higher education.  Macalester College and The University of St. Thomas.  The St. Paul Seminary is also located in Mac-Groveland.

Many of the neighborhood homes in Mac-Groveland were built before 1940. Larger homes in the neighborhood feature Tudor, Prairie Style and Colonial Revival architecture.  With many of the Mac-Groveland homes built in the 1920′s and 30′s, the Arts and Crafts bungalows are still prevalent throughout the neighborhood.  These St Paul homes boast beautiful woodwork, built in buffets and character that is hard to come by in newer neighborhoods.  However, new construction and remodeled homes, town homes and condominiums are also available if you are looking for something newer.

The two public, neighborhood elementary schools in Macalester-Groveland are Randolph Heights Elementary and Groveland Elementary.  Mac-Groveland also has a number of private schools, including Saint Paul Academy and the Summit School.

One thing I love about living in Mac-Groveland is easy access to all of the neighborhood restaurants and shops.  For casual atmostphere but great food, look no further than The Groveland Tap and The St Clair Broiler.   Good Italian can be found at Carmelos or for great American cuisine and a more upscale atmostphere head over to The Heartland.  There are also numerous neighborhood coffee shops such as Brewberry’s and Coffee News.  Great Grand Avenue finds within Macalester Groveland are Shish, Italian Pie Shop and Homemade Pizza.   Shopping ranges from eclectic gift shops to specialty stores – one of my favorites is Gypsy Moon on Randolph.  The neighborhood also features the Grandview Movie Theater, a Whole Foods and the Mississippi Market.

Macalaster-Groveland Real Estate Statistics
Median Sales Price 2007:  $280,000

Average Sales Price 2007:  $325,737

Price Per Square Foot 2007:  $192

Sales Price % Change from 2006:  +0.7% and from 2001 +40.1%

Please contact me with more questions about Macalester-Groveland (or other) great St Paul neighborhoods!

Jen McKinnon

AGENT REFERRAL NETWORK

612.384.1073

jen[at]mnrealestateteam[dot]com