Kim Melin

Are you wishing you could sell your house but you’ve been putting off contacting a Realtor because you are sure the market’s no good? If so, then we need to talk. There are several reasons why right now is a great time to get your home on the market.

Lower inventory. Everyone knows that the housing market has been flooded with short sales and foreclosed properties, but the first time home buyer tax credit had a significant impact in the number of houses on the market. Just about every first time home buyer who qualified for the credit and was able to purchase a home has done so. This has helped to lower the number of available properties, making it more likely that your house will sell.

Prices seem to have hit bottom and are going back up. Perhaps you have been concerned about selling your home for less than it’s worth. This is a valid concern and has kept many financially stable home owners from listing their home. But consider this: If you are hoping to sell and buy a larger home, you may end up selling yours for less, but your new home will cost you less as well. Its quite possible that you may be able to find a home in your price range that you will not be able to afford when its value goes back up. If your home is paid off or if you have plenty of equity, then you should not afraid of the current market.

The extended tax credit means more time for first-time buyers. Most of the first-time home buyers who were going to buy have already done so. But some haven’t. The tax credit has been extended until April which may be just enough time for those who weren’t quite ready to be so.

The expanded tax credit means newly qualified buyers too! The credit was not only extended, but expanded to include first-time home buyers with higher incomes and current home owners. This opens up a whole new group of people who will jump at the chance to buy a home and cash in on the tax credit.

The expanded tax credit might include you! That’s right, if you were to purchase a new home before April, then you will qualify for the $6500 tax credit if you meet the requirements. This just might help to offset any loss you could incur based upon lower property values. Add it to your down payment and you could afford a more expensive house. Or use it to decorate your new home, do some landscaping, pay down debt, or go on vacation.

You probably have the funds to correct any problems. Home buyers hoping to find a house ready to move into with little more than a change of paint color, have been rather dismayed by the condition of many foreclosed homes. Even homes qualifying for short sales could be in need of major TLC simply because a distressed home owner does not have the funds to make repairs. This makes buying a house from a financially secure home-owner a major attraction to some buyers. Be sure to fix major and minor problems, get an inspection done so you know what they are, and have some cash on hand to make further changes that may be requested as part of an offer.

You have more flexibility than a bank. Another problem that home buyers have found when trying to buy a distressed property is the time it takes for a bank to respond to an offer. Even with a more than-willing home seller and buyer, waiting for a short sale approval from a bank can be frustrating. You may find a home-buyer who needs to close in two weeks, or one who low-balls an offer and needs several back and forth offers to agree on a reasonable price. You have the flexibility to handle this situation, whereas a bank may not be able to meet their needs.

Convinced yet? Either way, give me a call and we can discuss getting your house on the market. And while we are at it, we can start hunting for that next perfect home for you as well!

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Looking for a home in Edina, Minnesota? Contact me, Kim Melin, today.

Check out my website for help in buying a home in the Minneapolis area.

H1N1 Clinic Details

Date: Saturday, November 21

Time: 9:00 am -11:00 am

Location: South View Middle School

4725 South View Lane
Edina, Minnesota 55424 (Near Edina Community Center and the intersection of South View Ln and Concord Dr)

If you are coming to a clinic, please remember to:

• Wear a short-sleeved shirt.
• Bring an insurance card if you have one. Your health insurance will cover the cost of the vaccine. If you do not have insurance, there will be no cost to you.
• Come with your child. Children under 18 years must have a parent or guardian present to get the vaccine.

If you would like to learn more about the H1N1 flu and/or the H1N1 flu vaccine, please visit www.flu.gov or www.mdhflu.com. We will notify you of future clinics that will be open to more groups of people through your child's school. For more information about these clinics, call 952-563-8900.

To hear this information in Spanish or Somali, call 952 848-3930.

Thank you,

The first-time home buyer tax credit was an overwhelming success at creating many new home owners. While most would agree that these owners were just waiting for the right time to buy, the right time had arrived. Now the right time continues!

Last week, the credit was not only extended for another 6 months, it was expanded to include first-time home buyers with higher incomes. The Worker, Homeownership, and Business Assistance Act of 2009 opens the up-to-$8000 tax credit to almost all first-time home buyers by increasing the maximum annual income. The income cap for single home buyers has increased from $75,000 to $125,000. The cap for married buyers jumps from $150,000 to $225,000.

Home owners looking to purchase a different home shouldn’t feel left out anymore, the new credit covers them as well! Homeowners who lived in their home for at least 5 consecutive years in the past 8 are eligible for a tax credit of up to $6,500 on their next primary residence purchase. The income limits are the same as for first-time home buyers.

The purchased home must be a primary residence costing less than $800,000. Live in it for at least three years after purchase and the $8000 will not have to be paid back.

In order to fight tax fraud, the new law requires anyone claiming the credit to provide documentation that the sale has closed and only adults can claim the credit.

Anxious for your money? Even if you purchase the home in 2010, you can claim it on your 2009 taxes and get an almost instant credit back. Ask your tax professional for details!

Sales contracts must be signed by May 1, 2010, with closing by the end of June. Don’t waste time, let’s start looking! Call me today and I’ll show you what’s available.

If you are a home owner wishing to sell, call me and let’s get your house on the market in time for your next home purchase to qualify you for the credit!

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Looking for a home in Edina, Minnesota? Contact me, Kim Melin, today.

Check out my website for help in buying a home in the Minneapolis area.

If you have delayed planting your spring bulbs, delay no more. The University of Minnesota Extension Service recommends planting of most spring bulbs in Minnesota by the end of October. Early November may not be too late though, especially for tulips which can be planted as long as the ground isn’t frozen too hard.

Here are some tips to remember:

• Bulbs should be firm with a papery skin. If soft or moldy, throw them away.

• Bulbs need to be able to grow roots once planted in the fall, and they need the cold winter to break their dormancy cycle in order to bloom in spring.

• Bulbs will need warmth and light in the spring to trigger their growth. Choose a site that will not be shaded in early spring.

• Bulbs can be planted under trees as long as they will receive enough light before and just after their blooming season. Full shade in summer is acceptable.

• Soil near southern and western exposure foundations could start to grow too soon, risking cold damage. It’s better to plant in an area that is sheltered from damaging winds but that will not warm up before other areas.

• Bulbs need rich, well-drained soil. Avoid areas that tend to fill with water during rain storms.

• New bulb beds should be cleared of rocks and matted roots, and some organic matter should be tilled in to a depth of 10-12 inches. Add some fertilizer in when tilling, but do not add it directly to the bulb holes.

• Plan to plant the bulbs in odd numbers or mass plantings. Put the bed where it will be enjoyed from a window or the road.

• The basic rule for planting depth is 2 ½ times deeper than the diameter of the bulb. Sandy soils should be a bit deeper, and heavy clay soil should be a bit shallower.

• Always plant the bulb with the pointed end facing up, cover with a portion of the soil and water well. Add the rest of the soil, smoothing the surface, water again and add 3-5 inches of mulch. Leaf material, grass clippings and straw work well. (You will remove much of this mulch in the spring.)

Then sit back and wait for spring!

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Looking for a home in Edina, Minnesota? Contact me, Kim Melin, today.

Check out my website for help in buying a home in the Minneapolis area.