About Wright County, MN

As I was perusing the four or five industry-related blogs and websites I read each morning to get myself motivated and my clients informed, there was this bit of cheer....

78,179 homes were taken by lending institutions during the month of November, down 8% from October. In October - 84,868 homes gone. In all, a total of 1,014,618 homes have been affected by foreclosure since August 2007. Statistics are according to CNNMoney.com.

Now, why is this cheery? Because each time, the numbers drop, it gives us an opportunity to write to our Representatives to let them know that we need some legislation to help overcome the vacant and iced-up homes in our communities and to assist those who just lost a job to not lose the house, too. Now, I believe in personal responsibility all day long, but there are some individuals who just got blind-sided by the tough economy. They didn't burn up the plastic and there are no big toys in the garage.

I work in this business...foreclosures. It's not pretty, and it is hard, depressing work. (On the flip side, I'm acting president of the Elk River, Otsego, Zimmerman and Big Lake Habitat for Humanity, so I can give back, too.) I also see the devastation of those people who are in the short sale position. The banks make it so hard, if not impossible sometimes, to get out honorably. But, if it can be done, we can do it!

I would love to not have to do Broker Price Opinions for the banks for a month...in the last year, the only time I didn't have an order from a bank was Christmas week.

The flood isn't over yet, but with a little sanity in government, perhaps we can get some loan modification legislation passed that makes sense and helps to keep people in their homes.

These days, with all the property on the market at reduced prices, bank-owneds and short sales, it is difficult at best for a "real" seller to move his or her property in a reasonable period of time.

Does your realtor have the tools to get the job done? Have you "googled" him or her? If they are the "real deal", the name should pop up on the first page. That translates into the fact that they are familiar with all the Web 2.0 tools out there to sell property in this market.

If they discuss "staging", or show you print advertising, you might need to ask some tough questions.

"What websites do you post property to?"
"Do you network with agents across the country as well as locally?"

"Do you know how to correctly price my property for maximum exposure to the most buyers?"

"How many referrals have you had in the past year" This is a really good one!

"Do you use technology to its greatest advantage?"

At Sabinske & Associates, we all have Blackberries equipped with Mobile Matrix and Web access. We receive 30+ e-mails a day while we are out in the field and can instantly respond to agent's inquiries, buyer inquiries and referrals.

Banks trust us to sell their properties, you can, too.

Even during this amazing market, when we don't know what's in store for 2009, there are indications that markets are improving. We have been busier in the last two months than the previous two months. Closings are up, buyers are looking and purchase agreements are being accepted by banks.

If you don't understand the new real estate terminology, short sales, REO, BPO, deed-in-lieu or contract for deed, don't feel bad! Many of these terms haven't been used for twenty-plus years.

I work with the banks, I work with short sale sellers and I have helped quite a few buyers get into bank-owned properties which have gone through foreclosure.

I am here to answer any questions you have about any real estate matter. If you need a quick answer, great. If you want more in-depth information about your situation, we can set up an appointment. I'm here to help. Good luck and best wishes for 2009!

Monticello has been growing for a number of years. Recently many nationally known stores and restaurants have came into town. Real estate prices and demand reached high levels in 2006, but as we head into 2009 Monticello is one of the best places to find a good home at a great price.

The market has turned into a buyers market with many bank owned properties available. Because of this Monticello, MN offers a great opportunity for buyers. There is a good mix of homes available. There are nice newer town homes under $120K, there are smaller split entry homes around $150k and great move up type of homes around $225K.

Monticello's location between the Twins Cities and St. Cloud make it a great place of residence for couples who work in both of these locations. Now is a great time to take advantage of the low prices and low interest rates!

FOR A FREE COACHING ASSESSMENT CALL ME AT 763-635-7228 OR CONTACT ME ON ACTIVE RAIN!

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Chuck Carstensen is a Realtor with The Discovery Team at RE/MAX; helping buyers, sellers, and investors of residential real estate. He is a Dynamic Life Coach; The Discovery Coach- "Helping you discover your talents, desires and purpose." Carstensen is a speaker and co-author in the best selling book series Wake Up...Live the Life You Love: Your Wake Up Moments (available this winter).

Rates today dropped to 4 7/8%. This is truly an unbelievable time to buy. But what does it mean to the average seller. I understand that most sellers are frustrated right now, they are not recieving offers and often are having very few showings. But there is some good news. The lower rates means that more buyers are now able to afford your home. Let me demonstrate an example:

List Price=$200,000 Interest rate of 6.5% (most of 2008) Payment would be $1,257.00

List Price=$200,000 Interest rate of 4.875% (12/15/2008) Payment would be $1,054.00

The average buyer will now save $203.00 per month with the better interest rate. That also means that they can afford more of a house. So if they can only afford an $1100 payment, your home is now affordable to them, where as for most of the year it was not. Now you still have to have good credit and a job to qualify, but if you meet these requirements, you can buy a home today that was out of reach just a month ago.

As sellers, if you need to sell. It may be time to price your home even more aggressively than before. In a nutshell, with rates and prices where they are today there has never been a better time to buy!

And for the sellers. You will take less now than three years ago, but more than likely, you will buy something else. And you will pay less than you would have three years ago.

Keep this in mind. In 1981 rates were at 18%. This is not the worst housing market we have ever seen. You could argue, if your a buyer, that it's the best!

Feel free to contact me with any of your questions.