If you purchase real estate and place the property inside your IRA, you do not own it; your IRA owns the property. Since qualified plan law governs your IRA, the owner must adhere to Internal Revenue Service guidelines. Investment restrictions, custodial fees, distribution rules and, ultimately, income taxes must be paid. All proceeds must go back into the IRA and occupancy is not an option. In addition, if the real estate is a rental property, for compliance purposes, your custodian will appoint a property manager. If loans are used, the loan must be a nonrecourse loan (secured by the property but no recourse on any other assets). Commercial lenders usually do not engage in these types of loans, so the private sector (private investors, owner/seller financing, etc.) is your best option... 01/02/2009

"Interest rates for 30-year fixed-rate mortgage rates fell for the seventh consecutive week, moving these rates to the lowest since the survey began in April 1971," said Frank Nothaft, Freddie Mac chief economist. "The decline was supported by the Federal Reserve announcement on Dec. 16, when it cut the federal-funds target to a record low and stated it stood ready to expand its purchases of mortgage-related assets as conditions warrant." The 30-year mortgage fell for a seventh consecutive week, from 5.47% a week ago. A year ago the 30-year averaged 6.14%. The 15-year fixed-rate mortgage averaged 4.92%, down from last week when it averaged 5.20%. A year ago the 15-year loan averaged 5.79%. The 15-year mortgage hasn't been lower since April 1, 2004, when it averaged 4.84%. 01/02/2009

Some Positive Real Estate Talk Though the economic news in the media is gloomy, the real estate market is actually stacking up quite well for buyers right now, particularly ones that do not have to first sell a home. Just last week interest rates dipped down about 1% from 6.75% down to around 5.75%. Real estate sales in our market had been strong from the middle of June through the end of August. Seasonally, Sellers tend to be the most motivated this time of year – making this a good time to negotiate a more aggressive purchase. The fact that a Seller’s home did not sell in the last three months when sales were up should add to a Seller’s motivation. Inventory is still plentiful, offering the ability for Buyers to shop and be selective. Last but certainly not least, the Federal Governme... 12/27/2008

8 real estate trends for 2009 December 26, 2008 For even the most seasoned real estate professional, 2008 was a challenging year. As the credit market tightened, the economy sputtered, foreclosures soared and the stock market took a hit, many were wishing for a crystal ball to see just when to expect a turnaround. To give insight on the real estate market for 2009 and beyond, local developers and agents offer up eight predictions:1)Less, with more. Single-family home builders are predicting the continued movement toward smaller homes, with many buyers opting for less square footage as a means of saving more, said Jim Chittaro, chief financial officer for Naperville-based J. Lawrence Homes. "We've definitely seen an increase in buyers opting for the smaller home with the lower base pric... 12/26/2008

If you want to find clothing designed by women and for women, then you must visit www.hotmamaonline.com This upscale boutique offers clothing that nurtures, encourages, and supports mothers while offering only the most contemporary clothing to the fashion-forward mom.  The owners, Michael and Megan Tamte, developed this concept soon after the birth of their first-born. They recognized the change parenthood brought on their life, so sought to build a store that focused entirely on serving moms and moms-to-be. Hot Mama is also charitable and donates 1% of all revenues to Breast Cancer Research for women. ShopMama is the online division of Hot Mama, Inc., whose main offices are in Edina, Minnesota.   12/23/2008

This information is a free research tool from the Minneapolis Area Association of REALTORS and gives a concise picture of most recent statistics in this Minneapolis Minnesota community. The information is for Edina, Minnesota. To read the entire report, click on the logo below. Edina's listings and closed sales are down by 20% since November of 2007. However the average number of days on the market has gone down by 23%, from 130 days to 99 days. Please note that some of the figures referenced in the report are for only one month worth of activity. As such, they can sometimes look extreme due to the small sample size involved.   12/16/2008

Whatever you want, whatever your style, you will find it at the Galleria this Christmas season.  From national retail stores, to locally owned boutiques, the Galleria will meet all of your shopping needs. Galleria also offers a mouth-watering variety of dining optionsas well as two coffee shops and a gourmet chocolate shop. The Galleria also has numerous holiday events scheduled.  Visit Uber Baby and have your kid's pictures taken in their favorite holiday outfit. California Closets is offering free gift wrapping while Art Resources Gallery has their 11th annual Glass and Holiday Show featuring local, national and international artists. Galleria is located on the corner of 69th Street and France Ave. in Edina, Minnesota.  Visit the Galleria website for a list of the stores as well as t... 12/12/2008

Edina High School is a nationally recognized, three-year public high school located in Edina, Minnesota, a southwestern suburb of Minneapolis.  It is also identified as a "Five Star School" by the Minnesota Department of Education and a "National School of Excellence" by the U. S. Department of Education. Newsweek ranked Edina High School #93rd in the list of "1200 Top High Schools in America" in 2008. Edina High has an extensive Advanced Placement program with 19 Advanced Placement course offerings. Collectively, students completed 1998 Advanced Placement examinations for the school year 2006-07, with 80% obtaining a score of 3 or better. The High School also offers eight World Languages. If you have children and are looking for a community that stresses quality education for children,... 12/05/2008

Si cierras los ojos, usted cree que está en New Mexico! In case you are unable to read and understand Spanish, the sentence above says "If you close your eyes, you will think you are in New Mexico!" The music, smells and authentic Southwestern cuisine served at Tejas located on 50th and France in Edina, Minnesota will have you coming back for more. Tejas' colorful decor, authentic artifacts, fireplace and large, open kitchen add to the restaurant's comfortable ambiance. Tejas was included in Esquire Magazine's annual list of "America's Best New Restaurants" in 1988, as well as named the Twin Cities' Best Southwestern restaurant by the Zagat survey.   Visit Tejas' website, or give them a call at 952-926-0800 to make reservations. You will not be disappointed. Each month we will give away... 11/29/2008

The newly renovated VIA Cafe and Bar in Edina, Minnesota features a grand entrance, as well as an outdoor patio and bar, including water features and fire pits facing France Avenue. Via features a menu that represents a wide variety of mainstream American dishes, as well as a variety of entrees and appetizers with an International influence. Via is sophisticated enough for business clients, special enough for a memorable meal or event and approachable enough for families to dine on a regular basis. The prices are also very reasonable. Via Restaurant is located at 6740 France Ave in Edina. Contact them at (952) 928-9500 or visit their website www.viacafebar.com Each month we will give away a $50 gift card to try out one of our featured Edina Restaurants.  To enter our monthly contest, pl... 11/21/2008

Join me to celebrate the Holiday season by getting and giving.  On Saturday December 6th 10:00-3:00 we will exchanging new unwrapped toys for a Holiday Tree or wreath.  Please email me or call to find out the details!  Kim@KimMelin.com 952-844-6246 11/16/2008

This well known restaurant chain has their chefs work with local reputable seafood purveyors to obtain only the freshest seafood from local waters and beyond. And what is so attractive about this restaurant is that it prints it's menu daily, featuring a "Fresh List" of seafood. The McCormick & Schmick's service commitment fosters a "customer is always right" attitude, earning a reputation in the hospitality and restaurant industry. Promotions are also periodically featured. The most recent was for Veteran's Day where the restaurant paid tribute to Veterans by offering a free entree. Feel free to make your reservation online directly on McCormick & Schmick's website. They are located at 3203 Galleria in Edina and their number is (952) 920-1142. Each month we will give away a $50 gift car... 11/14/2008

Created by brothers Kam and Keyvan Talebi, co-owners of View and Bellanotte restaurants in Minneapolis, the Crave in Edina is a 5,500 square foot restaurant that conveys an open and chic atmosphere. The menu at Crave focuses on fresh, local and organic foods, locally grown cucumbers and tomatoes, and Amablu cheese from St. Peter. The main dining area seats 180, while a VIP Chef's Table seats up to 10, and a small, semi-private dining room is available for parties up to 20. Crave's wine list has more than 100 offerings, with many selections available as full and half-glasses. In addition to an expansive wine list, Crave has a full bar and an assorted martini list. Crave's outdoor patio, with a beautiful trellis, old vine growth and a rock pond, seats approximately 50. Each month we will ... 11/07/2008

    Skip the ghouls and goblins roaming your neighborhood this weekend and visit another great restaurant by the Kozlak Family (of Historic Jax Café in Northeast Minneapolis since 1933). This restaurant is Kozy's Steak and Seafood. Kozy's menu provides  fresh made soups, salads, daily specials, classic steakhouse fare, fresh seafood, as well as small plate items and a large selection of tempting appetizers. Hungry yet? With a comfortable setting for you to enjoy a quick lunch or after work stress-release, their private room with large screen TV, DVD and high speed internet will make you glad you skipped the tiny door-knockers no matter how cute they are. Would you like to eat at Kozy's for FREE? Each month we will give away a $50 gift card to try out one of our featured Edina Restauran... 10/31/2008

  COUNTRY CLUB NEIGHBORHOOD IS A Local & National Treasure   In 1922, when Minneapolis land developer and speculator Samuel Thorpe looked at the land now bordered by 50th Street on the south, Sunnyside Road to the north, Edgebrook Place on the west and Arden Avenue on the east, he saw more than farmer Henry Brown’s cattle peacefully grazing near the Edina Mill and George Baird’s prize Merino sheep on what is now Casco Avenue. Thorpe saw a place to build his dream. Between 1922 and 1934, Thorpe spent more than $1 million platting the Country Club Neighborhood’s 300 acres into 585 home sites. He landscaped, installed water, gas and underground wiring and laid sewer lines before allowing the first home to be built. Detailed deed restrictions were written controlling the values and styles o... 10/07/2008

Edina actually had a pretty good July as the real estate market is still running about 30-60 days behind what we would call "normal".  Edina had 68 closed transactions in July and the public sale information is listed below.  Edina Home Sales - July 2008 (68) In general, year to date figures are as follows: New Listings are down 5.5% (1002), the number of closed sales is down 24% (325), Average Sale Price is up 2.7% ($514,828), List to sale price is down 1.2% (93.5%), and days on market is up 2.1% (240) Detailed Breakdown of the Edina Real Estate Market - July 2008 If you have any questions or comments about this information, please give me a call! 08/12/2008

This home is a deal! tax value of $1,185,900 and you get for 960k   Dale Frisch | Real Estate Solutions www.DaleFrisch.com | 612-715-6474 7725 Marth Court , Edina, MN We just dropped the price 90k in the last week ADVANTAGE OF THIS DEAL 5BR/5BA Single Family House offered at $959,990 Year Built 2005 Sq Footage 5,346 Bedrooms 5 Bathrooms 5 full, 0 partial Floors 2 Parking 3 Car garage Lot Size 0.440 acres HOA/Maint $0 per month DESCRIPTION Tax value of 1.2 million! Call me for a private showing of this great property. Better act quick if you want a great deal on this home! see additional photos below PROPERTY FEATURES Central A/C Central heat Fireplace High/Vaulted ceiling Walk-in closet Hardwood floor Tile floor Family room Living room Office/Den Dining room Breakfast nook Dishwasher Re... 08/11/2008

A few days ago, my daughter Ania and I were out having fun together at the Southdale Mall in Edina.  Little did we know that just outside, a sudden storm had moved in and water was coming down like "buckets".                  Inside the building, it sounded like there was a busy bowling game going on the roof.                      By the time we were ready to leave the mall, most of the rain had passed.  However, the lightning and thunder continued.  The sky looked different on the east horizon and different yet on the west.  Since I had my camera with me, so I tried take a few shots of the "light show".                  After many tries, I was able to capture a glimpse of lightning.     If you are relocating to the Twin Cities, contact me for a FREE comprehensive RELOCATION PACKET.   ~... 07/20/2008

Kim Melin | Coldwell Banker Burnet | 952-844-6246 1016 Coventry Place, Edina, MN Absolutely one of a kind gem....relaxing Centennial Lake private setting. Custom from top to bottom. Builders own unit with no detail left undone. 3BR/3.5BA Townhouse offered at $1,390,000 Year Built 1996 Sq Footage 3,800 Bedrooms 3 Bathrooms 3 full, 1 partial Floors 2 Parking 2 Car garage Lot Size Unspecified HOA/Maint $666 per month DESCRIPTION Truly an amazing opportunity to have a custom built home w/no detail left undone.A welcoming setting on Centennial Lake, with delightful outdoor spaces!A perfect home for entertaining a crowd,or an intimate dinner in the "Turret" room. Truly a must see... see additional photos below PROPERTY FEATURES Central A/C Central heat Fireplace High/Vaulted ceiling Walk-in ... 06/13/2008

Why Use a REALTOR® Many consumers consider selling their home directly but eventually turn to REALTORS®. Smart home sellers realize they need the expertise in pricing their home, making connections with REALTORS® working with buyers, arranging and staffing open houses, and coordinating with other professionals in the sales process. Only about half of all real estate agents are REALTORS® -- the top half, in our not-so-humble opinion. REALTORS® work independently, for small agencies, or for large brokerages. They help people buy and sell residential or commercial properties, vacation homes, and land; they conduct appraisals; they operate in the United States and in other countries; some specialize in auctions; and others are buyer's representatives. Call with detailed questions or inquiry 06/13/2008