In this northern Washington County community, just east of White Bear Lake, new listings were up in 2011 which was very unusual for most other north and east communities in the Twin Cities metro. They were not only up but up significantly, by over 36%. Likewise, home sales were up by well over 50% in 2011 and the average sales price was up just a bit. This is an indication of the start of recovery for the Mahtomedi area but only time will tell if the trend will continue into 2012. As this is the second year in a row for a somewhat stable market in Mahtomedi, it is apparent that the bulk of the distressed properties have worked their way out of this community. Sellers are getting just under 91% of their asking price and the average sales price is holding steady at just over $295,000. Time on the market to sell a home, rose somewhat significantly to 143 days and the price per square foot fell 5% to $117. Both statistics are comparable to other surrounding communities. It appears that the Mahtomedi real estate market continues to move toward becoming balanced.

For additional details on home sales in Mahtomedi MN at the end of 2011, Click HERE.

There are many good reasons to look for Mahtomedi townhomes for sale. Over recent years this type of housing has offered a convenient lifestyle for homeowners. With less home maintenance costs along with lower property prices, many Americans find the townhome lifestyle to be more conducive to their lives. What can we say are the pros and cons to owning a Mahtomedi townhome?

Prices for Mahtomedi Townhomes

Mahtomedi townhomes for sale are quite often priced more favorably than traditional single family housing largely due to the shared walls and common areas. The townhome association to which you will be required to belong is responsible for upkeep of these common areas as well as some of the exterior maintenance of your home as well. This can make buying a Mahtomedi townhome especially appealing to busy first time home buyers as well as to retirees who prefer not to deal with that type of upkeep.

This does not mean that the maintenance is free, of course. Included in your responsibility for residing in a Mahtomedi townhome you will have a monthly dues you must pay to the association. This monthly fee covers a number of things but as to what it covers can vary from one Mahtomedi townhomes for sale association to the next. For example, while your association fees might include home insurance in one association, you might have to pay that separately for that in another. It is important to investigate these points before you buy a Mahtomedi townhome as your monthly costs could vary significantly depending upon the association.

Mahtomedi Community Information

Mahtomdedi is a beautiful small outer-ring suburb of Saint Paul. Originally a small community of cottages and summer homes on White Bear Lake, Mahtomedia has grown to a stable population of about 7,600. With plenty of affordable real estate available, this is an excellent location both for the first time home buyer as well as a luxury lake home buyer. Conveniently located in Washington County, homeowners here have a 25 minute commute to downtown Saint Paul. If you're looking to buy or sell in Mahtomedi, please give me a call.

Mahtomedi townhomes for sale: Pros

• Low maintenance lifestyle
• Less expensive homes
• Shared amenities such as recreational areas l
• Often a small back yard
• No neighbors located below or above as is common in condos

Mahtomedi townhomes for sale: The Cons

• Townhome association monthly dues
• Small yard or occasionally no yard at all
• Shared walls can result in hearing noise from neighbors

First Step To Buy A Home: Get Preapproved

For many MN first time home buyers the big, intimidating question is where do I start the process? Your very first step towards buying your first home is to get preapproved for a mortgage. By doing so you find out how much you are qualified for so that we can research homes in a price range with comfortable payments for you.

Casey Anderson
Sales Executive, Licensed Realtor in Minnesota
IBR Realty
caseyanderson@ibrrealty.com
Cell 651-245-1820
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities.

How to buy a Mahtomedi foreclosure

Are you thinking about buying one of the properties in foreclosure in Mahtomedi? Whether you own a home now or are a Minnesota first time home buyer, you will want to learn the basics before going out to buy. While there are plenty of great values in Mahtomedi foreclosuresyou will want to be prepared for how to negotiate your purchase transaction.

Mahtomedi: City Information

Mahtomdedi is a beautiful small outer-ring suburb of Saint Paul. Originally a small community of cottages and summer homes on White Bear Lake, Mahtomedia has grown to a stable population of about 7,600. With plenty of affordable real estate available, this is an excellent location both for the first time home buyer as well as a luxury lake home buyer. Conveniently located in Washington County, homeowners here have a 25 minute commute to downtown Saint Paul. If you're looking to buy or sell in Mahtomedi, please give me a call.

Knowing What To Offer On A Foreclosure

A foreclosure can be a great value because as an REO (real-estate-owned), the bank is responsible for paying all the maintenance costs. As opposed to a short sale, the selling bank has a distinct motivation to get the home off of their books. At the same time, banks who are selling their Mahtomedi foreclosures want to get the highest value they can out of the property. In the lower price ranges it has turned into a sellers market meaning that many foreclosures sell for well above the listing price! Knowing what to offer for the foreclosure is critical in terms of being successful with your purchase.

Foreclosure Purchases: Things to Consider

There are two big factors to consider when determining how much to offer. The first factor is to consider how long the property has been on the market and the second is the general property condition. A foreclosure that has just been listed is likely to sell for near the listing price, while a bank that has a home that has been on the market a long time may be willing to negotiate for deep discounts. Also, a listing that is in poor overall condition may not be able to be financed so the bank may have to reduce the price far enough to attract cash buyers. I can help you determine these factors as we search for Mahtomedi foreclosures.

If you will need a mortgage loan to buy the foreclosure there are some critcal things to know. First, the property must be in acceptable condition n order to qualify for most mortgage loans. Foreclosure listings that are in poor condition will either require a cash offer or special financing such as FHA 203k. The selling banks will also usually limit the amount seller paid closing costs towards your home loan. In most of these cases the selling bank will limit their contribution to three per cent of the selling price. Additionally, a selling bank will never look at your offer if it includes a financing contingency for the sale of a home and if you don't provide a preapproval letter along with the offer.

Get Preapproved for Mortgage Financing

The first step in the home buying process s to get preapproved for your home loan. This simply means that you talk with a local lender who will review your financial situation. In this discussion they can tell you what types of MN first time buyer programs you might be qualified for. This critical first part can be done over the phone and most lenders will even do this with you when you are off from work.

If you are planning on buying a Mahtomedi foreclosure please send me an email or give me a call. There are many great foreclosure values out there but knowing which one takes some time and expertise. I would value the opportunity to help you in your quest for the perfect purchase!

Casey Anderson
Sales Executive, Licensed Realtor in Minnesota
IBR Realty
caseyanderson@ibrrealty.com
Cell 651-245-1820
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities

If you are selling a home in Mahtomedi, MN and this is your first time as a home seller, the good news is that you have no previous experiences to compare this to. That’s good news because all your previous experiences would have had very little bearing on what it’s like to sell a home in today’s market.

Hmm. I said “good news”, right? Well, maybe “real news” would be more accurate. There’s no point in pretending that it’s easy to sell a house today. Sellers have to work harder to make their house stand out from the pack, and in many cases must be prepared to not make the profit they initially hoped to make on it. Here are seven tips for today’s first-time home seller:

1. Be Realistic with your Price
Trust your real estate agent when they tell you what your home can actually sell for. And don’t price it high to start and then come down later – price it competitively from the beginning. As the article says, most of your showings will happen in the first few weeks that your house is on the market. You want to capitalize on those critical first weeks by putting your best price forward.

2. Be Prepared to (Gulp) Lose Money
No realtor wants to say those words, but it is true that your home is worth exactly the amount that a buyer is willing to pay for it. There are smart things you can do to add value to your home, but the reality is that you may not see your assessed value reflected in your sale price. Study the sale prices of the homes in your area, not what they were initially listed at.

3. Promote Smart
If your Mahtomedi home is your starter home, it’s perhaps a smaller property and would appeal to younger people or retired couples. Market accordingly. Talk to your realtor about how and where they list your house, and how they plan to reach your target market.

4. Throw in Extras
Weigh the hassle of moving some of your larger appliances or custom items against the potential to attract a buyer with them. In this tight market, a top-of-the-line TV might be the thing that pushes one home to the top of someone’s list.

5. Declutter
You’ll hear this word a lot. That’s because it’s vital, and most sellers don’t do enough of it. Remove as much as you can physically remove from your house and still be able to live in it. Clear as much off your counters as you can. If you have a small house, this is even more important, as your house can feel cramped and clutter more easily.

6. Make it Turnkey
It’s huge for your home to feel ready-to-move-into. With so much competition, you don’t want the thing that prevents your home from selling to be the fact that you didn’t paint or replace carpet.

Most buyers are lazy. The last thing a new homeowner wants is another ‘to-do’ list, Ramsey says. So get the home move-in ready before it hits the market so the buyer can start fresh easily.That means making all the repairs and replacements that you would demand if you were buying the house today. If you have to walk single file up the walkway, trim the bushes. If the garage door is dented, have that fixed or replaced, Ramsey says. “If you go into a room and say, ‘Hmm, I wonder if this carpet is dirty enough to replace?’ You have your answer,” he says.

7. Spend Your Upgrade Money Wisely
Before you invest thousands of dollars in a brand new foyer, find out what upgrades will yield the highest returns. This may vary by area, so it’s important to have a real estate agent who is very familiar with the area.

It’s not an easy time to be selling your Mahtomedi, MN house. Be realistic and smart about how you position it among the competition. Do everything you can to get your house in the best condition possible, and then aggressively and strategically market it to the right people. It’s not your father’s real estate market.