Steve Baklaich

Watab Springs Sartell - One Level Living open house Saturday April 16 from 1:00 - 2:30

Spacious Patio Home at 168 Cheval Dr. in Sartell MN for sale.

Patio home in Watab Springs-One Level Living 1,358 Square feet of spacious living all on one level with in-floor heat, plus gas forced air and Central Air. The ample Master Suite includes a large walk-in-closet and 3/4 Master Bath. The vaulted Livingroom is open to the dining-room and kitchen, perfect for entertaining. Comfort in every direction including covered front and back porches. A well appointed home located among walking trails with private park/pond.

Open house Saturday April 16 from 1:00 - 2:30 at 168 Cheval Drive in Watab Springs Sartell

MLS#4025138 $154,900

Q: We clicked back on the link you sent us today, and the house we like changed status to TNAS. What does TNAS mean?

A: The live link to the MLS changes as the Listing Broker makes changes to the listing data online. The status change to TNAS means the property is now Temporarily Not Available for Showings.

This could be for any number of reasons. They may have had a maintenance issue they are taking care of, or the owner (a bank) may have discovered a title problem, but sometimes they take a listing out of inventory to package it with other homes for auction. An investment portfolio of sorts.

I will talk to the Listing Broker and check on the specific reason it is TNAS. It may come available again and it may be gone/sold, and you may want to focus on other properties. I find this happening quite a bit and you will too. A Buyer is looking at homes in a specific area and price range and they look at 12 homes. They pick the best one, only to find another Buyer has written an offer, on the same home.

Why does this happen repeatedly. Simple, the Buyers in that price range are all looking at the same 12 homes, and picking out the best value, and people generally like the same things. So, everyone who looks at those 12 homes is likely to focus on the same one or two, that represent the best value. The message here is, if you like it, trust your own judgement and buy it!

Q: Does the propane tank come with the house? It isn't listed with the appliances, and we weren't sure!!

A:Yes, it can stay with the house. As we discussed when we wrote the offer, you will reimburse the Sellers for the propane, and can keep the tank in place, or find a different vendor to buy gas from. The vendor owns the tank and lets you use it in exchange for your buying fuel from them; and there is no charge if you switch vendors.

The old tank would be picked up & new tank dropped off/hooked up. You will want to wait until the spring to have this done as you do not want to be without heat during the winter. Just keep in mind, in the spring with two trucks driving in your back yard you could have some yard care (better wait until it's dryed up a bit). So if you are going to change propane providers please think before you schedule the appointment.

For more information about Propane for home heating check out http://www.propane101.com/residentialpropanetanks.htm

Q: How do I calculate the size of the lot for the house I want to buy in St. Cloud MN?

Most homes in the St. Cloud MN area have the lot size written on the MLS sheet as one measurement X another measurement. When you get into looking at homes for sale with over an acre of land it is usually listed on the MLS sheet with the acreage already calculated in the acreage category.

Take for instance a house for sale in South St Cloud MN with a lot that is 100 x 185. Is that close to an acre? How do you calculate the acerage? First you multiple the 2 numbers of the lot size, in the example of 100 X 185 the lot size works out to 18,500 square feet. An acre is 43,560 square feet, so this would equal 0.42 acre, or just under 1/2 acre. To determine acreage simply divide square feet/43,560=acres.

A good rule of thumb: 1 Acre is 208.71 feet x 208.71 feet.

Now when we get into irregular shaped lots it can be a bit more interesting to calculate the square feet for the homes lot size. If you look at the picture to the right you will see that the heavy black lines form a nice even sided rectangle in which case you would use the formula above, but when you have a lot that looks more like the trapazoid type shape in the middle, you have to do a little math in order to figure out the size of your homes lot.

Let us say you have a lot that is 150 across the front 120 on one side 200 across the back and 100 on the other side. It might look similar to the shape drawn in the thinner black lines above inside or the nice rectangle (dimensions are as an example only) the way to calculate this kind of an irregular lot is:

Take the average of the front and back (150 and 200) or 175, and multiply by the average of the sides (100 and 120) or110. 175x110 =19,250 divided by 43,560 =0.4419 Acres.

Buyer: I've Got A Question; What's A Short Sale?

Recently one of my Buyer's emailed with that question. A family member living in a different city in Minnesota is considering options regarding their home and mortgage situation. Mortgage amount likely exceeds value, and expenses have risen while income has decreased. Sound familiar?

Answer: A short sale is when you owe $400,000 on your mortgage, and after you sell the home you have less than $400,000 available to pay the bank off. Your options are, pull the extra cash out of your pocket (or 401K, SEP, etc), sign a note, or short the bank for the difference. The bank will file a 1099 form with the IRS, declaring a loss, which the IRS will consider as a gain for the borrower. IRS has waived tax liability on this for the last few years, but that may change. The homeowner should contact their lender to ask for the requirements or criteria for a short sale. For example, they will likely need to site a hardship, such as a divorce, illness, or job loss in order to qualify for short sale consideration. Call the 800 number and ask for the Short Sale Department.

Buyer: That doesn't sound right. We pay what we owe. Is there a way to re-structure things so they can keep the house and pay off the loan?

Answer: Yes, there is a Mortgage Modification option, and they may agree to rework the interest rate and monthly payments so the payments are more affordable. Again, they have criteria for considering a Mortgage Modification, and that usually includes a hardship, and both the Modification and Short Sale both require full financial disclosure. The Lander looks at the borrowers income, accounts, expenses, etc. If you would like to give them my number, I would be glad to talk to them, and start with a Market Analysis to determine where their home value comes in.

Buyer: Do they ever reduce principle balance?

Answer: I have not seen it done yet, but the Government is suggesting it now. You may have a better chance if the lender is local, and the loan in-house. They should ask anyway.

Full service sometimes means picking up the phone and having an involved conversation about something that is beneficial to a third party, a family member, a friend or co-worker. One question often leads to three more, and a follow-up. Helping people make informed decisions about complex issues is, today, more important than ever before! If I do have direct contact with the homeowner/family member, I will recommend they consult with an attorney and a tax professional concerning issues related to their credit, financial and tax liability, and bankruptcy.