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Maple Grove, MN Real Estate News

By David Kosmecki
(American Pacific Mortgage)
When you are looking for a mortgage for your home, your credit score is very important. Any potential lender will check your score and will use the number to assess your creditworthiness and the interest rate that they offer you. The better your credit score the lower the mortgage interest rates will be available to you, as the lender will be able to see that you can handle credit well. However, if you have a very bad credit score, it could be causing you to be offered high interest rates on your mortgage that could cost you thousands over the years. Improving your credit score before searching for a mortgage will ensure that you get the best rate possible. But what can you do to improve your credit score? Here are three tips that can help you improve your credit score and your mortgage...
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By David Kosmecki
(American Pacific Mortgage)
If you're absolutely sick of looking at the popcorn ceiling of your 1980's home - it's time for a change. However, behind the facade of a ceiling is a mess of plumbing, wiring, joists and structural beams, so you have to be careful and creative when updating your home. Whether you're dealing with an older home, a tricky duct system or an unfinished basement, below are several ceiling solutions to brighten up the space above your head. Bring Back Wood Paneling: The 70's are making a comeback. If you have a flat or slanted ceiling, wood paneling is easy to affix and can create a cozy cabin-like feel. This works well in living rooms, bedrooms and basements where you want generate a warm, comfortable atmosphere.  Create An Industrial Vibe: If you like the look of a modern home, then this mi...
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By David Kosmecki
(American Pacific Mortgage)
With spring just around the corner, now is a good time to begin decorating your home for the upcoming season. Whether you enjoy chic decorations that are budget-friendly or easy changes to create a fresh look, below are five quick ideas to brighten up your home for the season. Add a Pop of Color: Spring is a good time to add color to your décor. Switch your tablecloth in the dining room for one with lighter colors. Cover decorative pillows with pastel pillowcases to lighten a room. Adding decorative centerpieces to tables that contain a pop of spring colors is also a simple way to get your home ready for spring. Find A Spring Wreath: Wreaths are usually hung during the Christmas holiday, but other seasonal wreaths are becoming a popular trend. You can purchase a floral wreath to hang on...
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By David Kosmecki
(American Pacific Mortgage)
The most recent S&P/Case-Shiller Index showed all three composites posting double-digit increases over the last four quarters.  The national composite, which is the broadest based index, showed an increase of 10.2% annually. The 20-City composite posted even stronger annual growth at 10.9%. Click Here To Download The Full Report: The Case-Shiller Index measures changes in home prices by tracking same-home sales using 10-City, 20-City and national housing markets; and the change in sales price from sale-to-sale. Detached, single-family residences are used in the Case-Shiller Index methodology and data is for closed purchase transactions only. 12 Of 20 Metro Markets Notch Double-Digit Annual Growth: Between March 2012 and March 2013, home values rose in all 20 Case-Shiller Index markets. ...
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By David Kosmecki
(American Pacific Mortgage)
As the weather gets warmer, the desire to get outside and enjoy the fresh air begins to take hold. Having a place to entertain or just unwind can add a new dimension and enjoyment to your home. First, you have to decide what type of space you want to create. Whether you want to have an outdoor living room, a vacation-like spot or a place to meditate and enjoy nature, how you extend your living space is limited only by your imagination — and possibly your budget. Start with your vision and make a list of the things you want to have there. Then go for it! Choose a Theme: Vacation spot - Decorate with bright colors for a festive, tropical look. Zen garden - Add a water feature, such as a fountain, for a calming effect. Nature hideaway - Surround a patio or porch with plants and trees to br...
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By David Kosmecki
(American Pacific Mortgage)
The National Association of REALTORS reported that sales of existing homes in April reached 4.97 million on a seasonally-adjusted annual basis. Although this reading fell short of Wall Street's expectations of 5.00 million existing homes sold, it surpassed the March 2013 upwardly revised reading of 4.94 million existing home sales. This represents a 0.60 percent increase from March to April, and a 9.70 increase year-over-year. Low Mortgage Rates Contribute To High Sales Levels:  Low mortgage rates and pent-up demand for homes are driving sales of existing homes, which reached their highest level since November 2009.  Lawrence Yun, chief economist for the National Association of REALTORS, indicated that housing market momentum is overcoming obstacles: "The robust housing market recovery ...
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By David Kosmecki
(American Pacific Mortgage)
Memorial Day weekend is widely regarded as the beginning of summer and many people kick off their summer plans on the weekend coming up. We take this time to remember the brave men and women who have given their lives to protect and defend our liberty and freedom. But even while giving thanks for their sacrifice, we also celebrate the beginning of our summer with fun and (hopefully) sun! As many people are more budget-conscious these days, holiday travel out of town may not be the best option for everyone. There are so many ways to enjoy the first long weekend of the summer, and since it is one of the busiest travel times of the year, maybe you should just plan to stay at your home this Memorial Day. Not only do you get to skip packing suitcases and spending hours in the car, you'll als...
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By David Kosmecki
(American Pacific Mortgage)
Minutes of the April/May Federal Open Market Committee (FOMC) recently released may have a significant impact on mortgage rates going forward.  One significant development from the meeting suggests that the present quantitative easing (QE)  program may be modified in the near future.  The current QE program involves the Fed purchasing $85 billion per month in mortgage backed securities (MBS) and Treasury bonds. The Fed's goal with QE is keeping long-term interest rates, including mortgage rates, low. Considerations mentioned in favor of slowing the current QE program include concerns over “buoyant” financial markets as evidence of a developing economic “bubble”. FOMC members in favor of continuing the current easing program cited fears of economic deflation resulting from cutbacks in QE...
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By David Kosmecki
(American Pacific Mortgage)
Flowerbeds can be a very attractive addition to any Maple Grove home -- if you have the time to set up and maintain them. Flowerbeds don't necessarily require a profusion of costly flowers that need to be fertilized, mulched, covered during severe weather, and possibly re-planted on a yearly basis. So put on your green thumb and brave the outdoors this spring. With the tips below, you'll keep your flowerbeds filled and your house looking cheery without a huge money or time commitment. Weed Eradication: Before you even start picking out roses and tulips, take care of the weeds. Gardens get weeds because there are already pesky roots hiding below the surface. Dig up the soil and weeds before you plant. It will save you hours of maintenance in the long run and keep your flowers healthy. Pe...
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By David Kosmecki
(American Pacific Mortgage)
It can be very difficult to determine what your property is worth in the current marketplace, because you are biased by what the property is worth to you. These emotions can get in the way of impartially evaluating a property and often cause sellers to overprice their home. When pricing your property, you need to be objective and reasonable so you can come up with a selling price that will capture the interest of buyers. Here are a few examples of common mistakes people make when pricing their house for sale.   Reading Too Much Into Online Comparable Properties: Avoid relying too much on online pricing information of sold houses. They can be a perfect place to start for getting a general idea of how much real estate is worth, but they are not always accurate.    Overestimating The Marke...
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By David Kosmecki
(American Pacific Mortgage)
Going green is not just a new trend; it is a way of life that benefits not only the environment, but also your health — and your pocketbook.  Green living cuts down on carbon emissions and creates a healthier environment both inside and outside of a home. While green structures sometimes cost more initially, the money (and environment) saved in the long run is well worth the investment.   Health Benefits:  Owning a green Maple Grove home has significant health benefits. Many conventional buildings are not properly ventilated and indoor air quality is often more polluted than the air outside.  Poor air quality is bad for your health and can aggravate asthma and allergies. Certified green properties tend to have excellent airflow and ventilation. They also use toxin-free materials in buil...
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By David Kosmecki
(American Pacific Mortgage)
Home builders are gaining confidence in current and future market conditions for new homes, but continue to see below-average foot traffic in new homes. The reading for May's National Association of Home Builders (NAHB) /Wells Fargo Housing Market Index (HMI) increased by three points to a reading of 44 as compared to April's revised reading of 41. The HMI measures builder confidence in current sales conditions for newly built homes, buyer foot traffic in new homes and builder expectations for future sales conditions. Builder Confidence In Future New Home Sales Highest Since February 2007: The HMI reading for current sales conditions for newly built homes rose from 44 to 48. The reading for buyer foot traffic in new homes rose from 30 to 33, and builder confidence in future sales of new...
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By David Kosmecki
(American Pacific Mortgage)
Everyone knows that first impressions are important. By carefully staging your home, you can positively influence the feelings your potential buyers have when they are viewing the property. Staging is the art of decorating and arranging the spaces within your house to make it more appealing to buyers. If you can adapt the rooms to create an attractive and welcoming zone that home buyers can see themselves in, they will be more likely to buy your property. One of the most important rooms to stage is the living room, because it is such a central part of the house. This is where a lot of the social activity occurs, so it should appear comfortable and welcoming. Here are some tips to keep in mind when staging your living room before the next showing of your home: Clear out the clutter. The ...
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By David Kosmecki
(American Pacific Mortgage)
When deciding to sell a piece of Minneapolis real estate, there are certain things you must disclose about the property to the buyer before the sale can go through. Disclosure laws are put in place to protect the buyer from unknowingly purchasing defective property. Not disclosing certain information about the property can jeopardize the sale, or worse, invite a lawsuit. This has become more of an issue lately as some sellers are tempted to gloss over deficiencies in the home they are selling in order to try to get a higher sales price.  In fact, a recent poll of real estate agents showed that 75% of agents ranked non-disclosure among the "top three current and future issues." What You May Need To Disclose The main items that need to be disclosed are any defects with the home. This inc...
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RealtyTrac recently reported that national foreclosure filings are down while foreclosure filings are seeing marked increases in some states. There are two systems for foreclosing residential real estate in the United States; judicial and non-judicial foreclosure. The states individually decide which foreclosure process will be followed in their state. Click Here To Download An Overview Of The Foreclosure Process Judicial foreclosure requires action by the courts because the mortgage is not written including a "power of sale clause". Judicial foreclosure proceedings generally take longer than non-judicial processes due to this court involvement. A log-jam of delayed judicial foreclosures are beginning to move through backlogged courts with the result of higher numbers of foreclosures st...
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By David Kosmecki
(American Pacific Mortgage)
Whether you're looking to buy a new house this month or do a little remodeling, take advantage of the opportunity to give the mom in your life a present she'll appreciate every day. Below are a few ideas for housing priorities and renovation projects that typically rate high on women's wish lists for their homes. Open Living Areas: The open floor plan is usually a big plus for any mother. They want to be able to cook dinner in the kitchen while monitoring their children's schoolwork at the dining table. So look for a house that affords this visual luxury or consider the generous gift of getting dirty and knocking down some walls. Large Closets: What woman doesn't need more room for her clothes, shoes and purses? If you're looking at houses, keep in mind how much closet space will work f...
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By David Kosmecki
(American Pacific Mortgage)
The Bureau of Labor Statistics released its monthly Non-farm Payrolls and National Unemployment Rate for April last Friday. These two reports are collectively called the Jobs Report. 165,000 jobs were added in April, while the unemployment rate dropped from 7.60 percent in March to 7.50 percent in April. 673,000 jobs have been added since January. Jobs were added in employment sectors including business and professional, health care and eating and drinking establishments. The main impact of the jobs report on home sales and mortgage lending is the ability of would-be home buyers to qualify for mortgage loans. Long term unemployment and under-employment has worked against consumers wanting to buy homes when interest rates and home prices hit significant lows. Falling Long Term Unemployme...
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By David Kosmecki
(American Pacific Mortgage)
In almost every Maple Grove home, there are awkward spaces that are difficult to utilize. Especially in older houses, there are rooms, closets and nooks that once had a purpose that is now outdated. So before you try to cover it up or fill it with junk, take a look at the smart solutions below to see how you can revitalize those problematic spaces and turn them into something useful. The Space Under The Stairs: While this is likely to be more of a hiding spot for dust-bunnies than teenage wizards, it is valuable space that you don't have to board up. Use it for storage! Create custom storage cabinets, or if it's near the kitchen, build in a wine refrigerator or display shelves for china. You could also build in a coat or shoe closet if the stairs are in the front entryway. The Bedroom T...
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By David Kosmecki
(American Pacific Mortgage)
When it comes to selling your home in Plymouth , you've probably thought of the most common staging tricks, such as clearing out the clutter to make your rooms look bigger and bringing in more light to brighten things up. However, have you considered that the colors in your house might affect whether buyers are interested? First impressions are everything when you are selling a house, so think about how the colors you choose will likely influence your potential buyers. A new coat of paint could be a simple and effective way to make your house more appealing. Here are a few additional tips: Choose Mellow, Neutral Shades: When a potential buyer is looking at your house, they want to be able to imagine themselves living there. If your walls are painted in lime green or hot pink, it can be ...
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By David Kosmecki
(American Pacific Mortgage)
Wednesday's Federal Open Market Committee (FOMC) statement indicates the Federal Reserve's commitment to keeping long term interest rates and inflation under control. The Fed will continue monitoring inflation, but does not expect inflation to rise more than 0.50 percent above its target rate of 2.00 percent over the next one to two years. Ongoing monitoring of inflation and unemployment, as well as developing economic news, will guide the Fed in its future determinations concerning policy for its present iteration of quantitative easing (QE3). Currently, the Fed purchases $85 billion of treasury securities and mortgage –backed securities each month with the goal of keeping long-term interest rates lower. This includes mortgage rates, which can assist homebuyers with qualifying for mort...
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