St. Paul Real Estate Blog

Real Estate Search Engine Home Search Magic Launches With Regional MLS Listing Data

Just when you thought that searching for your new home had to be a struggle, here comes Saint Paul, Minnesota based Home Search Magic, the best place to find homes for sale. 

Home Search Magic given allows to users to narrow their search my each community in Minnesota with just one click, and supports the further narrowing by price with just one additional click.  Absent is the intrusive banner advertising that plague many of the nation search sites. 

In addition to being able to search single family homes, Home Search Magic users can narrow their home searches to foreclosures or condos with just one click.  Gone are the myriad of drop-down boxes that detract from the user experience of most home search engines.

For those that already have an MLS ID, a unique number given to homes listing in the Multiple Listing Service, seeing the property information is as simple as entering the MLS ID and clicking enter. 

Outdoor Concerts in the Twin Cities

The Twin Cities has a wonderful assortment of Free Outdoor Concerts that we hope to take full advantage of this summer.  I sure am reminded it's summer now....after a cool start we are now in the midst of a hot and humid heat wave.  For those of you who think it doesn't get that warm in Minnesota--think again!  Here are some links to outdoor concerts throughout the Twin Cities.  We hope to see you there! 

Minneapolis plays host to over 200 concerts throughout the summer, covering all musical styles.  For a 2009 venue and schedule guide check out: MINNEAPOLIS SUMMER CONCERTS.

Not to be outdone, Saint Paul Parks and Recreation also has a jam-packed summer concert schedule starting May 17th, and running through Sept 6th.  For a complete venue and schedule guide click here:
MUSIC IN THE PARKS 2009.

If you live, or are planning an evening  in either downtown, there is music there too! Minneapolis has been hosting concerts for the past 21 years on weekdays at Peavey Plaza.  For a schedule check out: ALIVE AFTER 5.  Saint Paul "Music in Mears" concerts are held weekly for 12 weeks this summer in beautiful Mears Park.  For a complete schedule click here: MUSIC IN MEARS GUIDE.

What a perfect date night!  (Or better yet, bring the kids along.  If your kids are anything like mine, they dance without inhibition--and couldn't we all use a little more of that?)

Top Seven Reasons To Buy Now--Reason #7: Rates, Rates, and Rates!

We have said it many times in this article, interest rates are at historic lows.  But just how does a low interest rate affect your purchasing power? 

We have developed a document to explain just that.  

 Download ItsCalledABuyersMarketForAReason_v1

In this document, we take a look at how an interest rate hike of 1%, coupled with an additional 10% decrease in home values, results in nearly the SAME monthly payment.  

The time to buy, really is now.  Get started today! 

Top Seven Reasons To Buy Now--Reason #6: Seller Concessions

A few short years ago, home sellers wouldn’t even consider paying concessions like closing costs.  Now home sellers are not only willing to cover closing costs but things like flat screen TVs, furniture, and other personal items are being written into the contract. 

Top Seven Reasons To Buy Now--Reason #5: Finding Value is Easier Now

When products go on sale in the retail market, we flock to the stores to buy what we can.  When the same thing happens in the housing market, buyers tend to back off and flee.  If you had previously been outpriced of a neighborhood you really adored, take a look again and see what values you might find.

Be sure to visit our How's The Market? table on our website to view market trend and statistics for Saint Paul's Mac-Groveland, Merriam Park, Crocus Hill, and Highland Park Neighborhoods.

Top Seven Reasons To Buy Now--Reason #4: Home Ownership Builds Equity and Grows Savings

While current market conditions seem to be spinning a different tale, historically owning a home is known to be a solid financial investment with 5-6% appreciation annually.  To grow your savings, pay a little extra on your principal amount each month, and resist the temptation to pull money out of your home over the years.

Top Seven Reasons To Buy Now--Reason #3: Over the Long Haul, Buying Usually Beats Renting

Renting markets can fluctuate and therefore so can your monthly payments, but when you buy a home you can predictably lock your payment with a fixed rate mortgage for 15 or 30 years.  When making the case to buy or rent, be sure to factor in the tax advantages as well, and you may be surprised at how affordable home ownership really is. 

For a graphical analysis of renting versus buying, click here.

Top Seven Reasons To Buy Now--Reason #2: Uncle Sam Wants You to Be a Homeowner

When buying a home, be sure to look at the big picture. 

Purchase price, and the subsequent monthly payment that follows, is only one component to consider when purchasing a home. Tax advantages such as mortgage interest and property tax deductions (not to mention a tax credit if you are a first time homeowner) create savings by reducing your taxable income.

This information is informational, and should not be interpreted as tax advice.  For tax advice, please consult your tax professional.

Top Seven Reasons To Buy Now--Reason #1: The Headlines are Bad

Headlines are bad for a reason.

The worse they are, the more attention an article or news story is going to get. Lately, the Saint Paul real estate market has had its share of grim reporting, scaring away buyers and sellers alike.  But if you are thinking of buying, and are looking beyond the headlines, you know that there hasn’t been a real estate utopia like this in decades.  Low prices, and low interest rates has created the perfect investment scenario, and one far too few are taking advantage of.

Looking beyond the headlines, and studying the neighborhood trends and statistics of where you want to live, will give an edge--and a great value on a new home.  (That, years from now, a lot of your friends will have wished they got too!)

Tips for Keeping Your Credit Score Steady

When you apply for a mortgage, your lender will request a tri-merge (all 3 credit bureaus) credit report from a credit reporting company. This company pulls together a credit report electronically, which results in a numerial score.

The lending industry is moving toward "risk-based" pricing. This means that the higher one's credit scores, the less paper they will have to provide to prove that they are creditworthy AND the interest rate and/or fees a borrower pays will be based on the level of their scores.

Important tips to remember to avoid ups and downs in your credit score:

• Pay all your payments on time.

• Don’t apply for any new credit unnecessarily. Every time you sign and return a new credit card offering, or open an account at a store, an inquiry will be generated and that can reduce your score.

• If you must maintain credit card balances, try to keep them at a level that is 40% - 50% of the maximum credit limit. In other words, if the credit limit is $5,000, try to keep your running balance below $2,000.

• Consolidating all your credit cards can hurt your score as well.

• If you get into a dispute and it isn't a huge amount, pay it and move on. Having one or more collections, even if they are small amounts, can really hurt your score.

If you have recently obtained your credit report and you are not happy with what was reported, you can take steps to correct the erroneous information on it. There are also proactive things you can do to improve your scores, if you are anticipating applying for a mortgage anytime soon.