Steve Baklaich

Seriously, now is the time to remove your emotions from the buying process and look at the investment potential, THIS IS AN INVESTORS MARKET!

Forget about the late night infomercials, forget the news about a buyers or sellers market, forget what info your Uncle Fred gave you about waiting; now is the time to get motivated and get your real estate portfolio together, seriously do it now!

As I posted in my blog "Buy a house... Then Buy another" the market is prime for the investor buyer, and they are out buying right now. Economists like Ben Stein, Hedge Fund Managers like Paulson, NAR, the WSJ and many more are pointing out that we are seeing the best combination of factors for the investor buyer that we have seen in over 35 years, and the prices are very nice too.

Right now there are quite a few single family homes in St. Cloud priced under 100K in decent condition, and many of these homes will cash flow (quite nicely). If you have the ability to do some handy work your return on investment can be even greater (each home needs to be evaluated for its own potential ROI individually, and I can help you with that too).

With all of the homeowners who have gone into foreclosure and the current state of the building industry we have seen vacancy rates on apartments and rental houses drop down to almost zero (then take into account the rental moratorium that was in place in St Cloud too.) This is a wonderful opportunity for those who are willing to make a move towards financial stability now.

"Buy a House... Then Buy Another". Today's home prices are on a par with about 2004 in St. Cloud MN, but the home affordability is probably more like 1996 according to Chris Mayer of Daily Reckoning. Adjusted for inflation he suggests today's affordability is 30% lower than 1996.

Put simply, affordability is the price you pay per month, not the gross sale price. It's how your paycheck is impacted by owning the home, and the mortgage that usually comes with it! The quote was originally attributed to Adam Smith on the Dick Cavett Show in 1971, but it's good advise today, being repeated by some of the best in the investment business, like John Paulson (a hedge fund manager; he made 2.5 billion personally betting against the sub-prime lending market) who called the housing bust in '07.

Paulson advises to buy a home, and if you already own one, to buy one or two more. He's right of course. All of the people that go through foreclosure have to rent from someone!

Years ago some friends got divorced, and the husband moved out and bought a duplex, using the services of yours truly. "George" used his VA eligibility to finance, and it was such a good deal, he asked if he could do it again! He ended up buying a new property every 2-3 years, owner occupying each in turn, and alternating between FHA and VA. Always complying with Owner Occupancy Affidavits which required a period of owner occupancy. "George" retired at 55.

Today's market reports from NAR and Credit Suisse and Wells Fargo will all tell you that the largest Buyer Sector today is the Investor.

People with money are buying homes and making money. I can help you do it too!

Where else would they invest? Stocks? Bonds? Money Market Funds? The prices are at or near the bottom and interest rates are near the lowest they have ever been, and have begun to climb, but you can still get a 30 year mortgage at a little under 5%. The cost of owning a home is lower than maybe 20 years ago.

Now is the time to buy and grow your personal wealth!

Nordic ski class is a Free Class!

Stearns County Quarry Park is on the southwest edge of St. Cloud, Minnesota and is one of the nicest parks I have ever seen, and probably one of the best pieces of real estate in St. Cloud, MN. At this time of year the best way to enjoy the park, and our whole area, is on skis. Cross Country skis (Nordic).

Next Saturday, January 15, 2011 there is a free cross country ski class open to the first 20 people who sign up. You can get out, get some exercise, and learn how to do something that everyone should try. You will learn how to quietly glide through the natural snow covered environment. See wildlife, often close up, and enjoy the beauty of Quarry Park.

And they'll teach you how to not fall down:)

Cross country ski equipment can be rented at:

Fitzharris Ski & Sport (320)251-2844 fitzharris@cloudnet.com

Revolution Cycle & Ski (320)251-BIKE www.revolutioncycleandski.com

Limited to the first 20 registrants. To register call (320)255-6172 ext.3 or email: parkinfo@co.stearns.mn.us by noon on Friday January 14, 2011.

Large Home for rent (Benton County Minnesota) just minutes from St. Cloud and Sauk Rapids MN

Fantastic opportunity to rent a beautiful custom built home in a golf course neighborhood just minutes up HWY 10 from St Cloud MN.

This large home for rent features 3 bedrooms, 2 and a half baths (including a huge master bath with separate whirlpool tub), 3 car garage, den or office with french doors, fireplace, granite counter-tops in the chef's dream kitchen, nice landscaped lot with mature trees, front load washer and dryer, stainless steel kitchen appliances, ceramic tile, fresh paint and much more!

For more information on this incredible opportunity to rent a dream home check out my St. Cloud area real estate website, or give me a call for your personal tour of 127 Juno Place today.

Sometimes you feel like a B, sometimes you don't....

We have a local newspaper here in St. Cloud, Minnesota, and my office subscribes; so I get a chance most days to peruse the news the old fashioned way. I also listen to the radio, go online, and watch television on a regular basis. Always looking for Real Estate related stories, surveys, and statistics. What I find much of the time is inacurate, generalized, or region specific data being reprinted from wire services.

The #1 media myth is the lack of funds in the mortgage industry, and the difficulty in acquiring financing as reported in the media. Let me say, if you are trying to open a store or factory, you are going to have a job on your hands. But, if you want to buy a single family residence, you may find the process to be surprisingly easy. There is money to lend and the banks are lending. True; there is a good amount of paperwork, and there are hurdles set higher in the last couple of years. But if your work and income are stable, and if your credit score is at or above 620*, you may have a pretty smooth process. If you are self employed you will have a greater job verifying income and job experience. Are you a Buyer?

*Credit score minimum for FHA financing.

If your credit score is low, or if you have negative entries on your credit report, you may need to do some credit repair work, like writing letters to the credit bureaus, etc. If you have been through a bankruptsy 3 years previous, you still may qualify for an FHA loan. Minimum down payment on an FHA loan is 3.5% of the purchase price, and the Seller may contribute to your closing costs. If you are a military veteran you may be even better off, as VA Financing can be quite inexpensive, and available through most lenders.

Now may be the time to find out if you are a Buyer. While home values have stabalized in many markets, interest rates have begun to rise, and that will decrease affordability for most people. If you want to find out if the time is right for you, it's easy and free to consult with a REALTOR, and to get pre-approved for financing. Call your local REALTOR today and schedule an appointment. If you are in the Central Minnesota area give me a call, and I will help you either be a Buyer, or become a Buyer.

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