Teri Eckholm, REALTOR® Anoka County Acreage & Lakeshore Homes

So, your family has lived and loved your cute and cozy 1960’s rambler for a few years now. It was perfect for a young, just married couple when you bought it. The bedrooms were on the small side but there was room to grow and it worked perfectly when there were just two of you. Then came the puppy who grew into a huge licking Labrador. And later one baby, then two. Now suddenly 1500 square feet is overrun with chew toys, Little Tikes and Duplos. That cozy little starter home is now cramping your lifestyle. But with the flux in the real estate market, can you afford to move? In many cases, YES!

If the scenario above describes your situation, listen up. You could now be ELIGIBLE for the HOMEBUYERS TAX CREDIT. Yep it is not just for first time buyers anymore! Additionally, you can benefit from the situation that the first time buyer credit has created. The first time buyer tax credit has affected the starter home market in a very positive way. In the north metro areas including Lino Lakes, Blaine, Ham Lake, White Bear and Forest Lake, people are scrambling to find good starter homes for first time buyers prior to the expiration of the first time home credit. Many well priced, single family homes are seeing multiple offers within days of hitting the Twin Cities MLS. The demand for single family homes under $150K is the highest it has been in the past few years.

And better still, there is an amazing selection of homes in the move up category to select from. Historically, if a single family home was sold, that owner had to buy another home creating a chain effect into all different price points. But today’s real estate market offers a unique opportunity as many of the homes being purchased are bank-owned. No one is buying home on the other end. So there move up buyers are seeing a better selection of inventory in the higher price points at great prices. So why move now? To take advantage of the tax credit, buyers must write up an offer for their new home by April 30, 2010. When the incentive is over, the demand for homes could level off a bit. So listing your home THIS winter could make sense as there is a significant demand for starter homes NOW while the deadline for the expiring tax credit is on the horizon.

Are you ready to take advantage of this perfect opportunity to purchase a larger home for your growing family? As a local north metro real estate specialist I can help you assess your current situation and see if is the right time for your family to make a move up!

Note: A special thank you to author and illustrator Elizabeth O. Dulemba for allowing me to use her copyrighted family coloring page as art for my post. If you would like to see more of her coloring pages or her full color art for the children’s books she writes and illustrates, visit her website and blog at www.dulemba.com

22201 Holly St NW, Oak Grove, MN

Open Sunday November 22 from 1-3 PM!

9.3 Wooded Acres! 4BR and Huge Garage! Attractively priced at $259,900

Unique 1 1/2 Story with open floor plan!

Beautifully landscaped! Trails through woods are perfect for horses or ATVs!

Check out the extensive and recently expanded garage!

*A 24X62 addition was added in 2008 to the existing 2-stall garage last year to allow plenty of room for all the toys and tools.

*New sidewalks from garage to home in 2009.

*Two stall garage is sheetrocked and insulated. Gas line has been run to the garage to add heat too.

*Inside the home features tons of natural light from windows and skylights enhancing the open floor plan that ties the kitchen, dining and living areas together.

*All living facilities are on the main level but there are two additional bedrooms in the loft area on the second level.

*Beautiful hickory hardwood floors are spread throughout the main level and kept warm in the winter with in-floor WIRSBO hot water heat.

More Photos at www.terieckholm.com

For additional information on the home contact Teri Eckholm, REALTOR, RE/MAX Specialists at 651-336-7073

Okay it is just plain mean to make a cat wear a hat. That said, I couldn't resist. Living on acreage in Anoka County, we get some unusual visitors from time to time. A few weeks ago, our neighbor's three chickens (we have nicknamed them "the ladies") came up onto our front porch and clucked around below our cat's favorite perch. We bought him the hat so he could blend in with them on the next visit. He's not so certain he is pulling it off though.

Absolutely! There are still GREAT deals on many acreage and lakeshore home throughout Anoka County (and Washington County too)!

The $8000 tax credit caused a flurry of activity at the end of the summer. With the original end of November deadline looming, people rushed to snatch up deals on acreage and lakeshore homes throughout Anoka, Chisago, Ramsey and Washington Counties. But now with the extension and expansion of the tax credit, many first time homebuyers and previous owners alike are excited that they too can STILL get a credit but wonder if they missed out on all the good deals. Not a chance. There are still deals to be found throughout the Twin Cities north and east metro!

Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing?

Good news is that foreclosures are no longer always trashed, fixer-uppers. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some still may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.

But not ALL deals are foreclosures!

Many homes priced to sell are people who have to sell do to a lifestyle change that is not financial. Whether relocating for a new job, getting married or having twins, people have to find new places to live. If a seller is motivated, they are pricing to compete with the foreclosure market. So don't think the only deals are lender mediated or you could miss out on a beauty!

Here are a few of the treasures I noted while perusing the Twin Cities MLS in Anoka and Washington County today:

• New Construction on 2+Acres in Ham Lake. Wooded backyard. Walkout basement. Custom built two story 4BR/3BA/3Car home with over 2500 square feet of finished living space. Down $30K Offered at $361,900
  
• Like NEW Rambler on Egg Lake in Hugo. Beautiful views in awesome 2005 Built executive rambler w/granite, mstr suite and more. Awesome 4BR/3BA/3Car home with walkout and over 3000 square feet of finished living space. Sold for $539K in 2006 now offered at $399,900
  
• Almost NEW Coon Lake Treasure Lakeshore PLUS Acreage !! 2005 built 5BR/3BA on almost 3 wooded acres and 200ft on Coon. Home has 1700+ sq ft finished w/lower level sheetrocked and wired for 1700 more. Priced under $380K.
  
• 6200+Sq ft Ham Lake 2Sty on 3.5 Acres! 6BR/6BA/4 car built in 2005 with picture perfect landscaping, oak floors and huge master suite. Originally listed at $825K but short sale priced at $545K!
  
• BRAND NEW 2BR/1BA/3Car Linwood Rambler on 2.5 Acres Main flr laundry, hickory cabinets, landscaped yard and framed for 2 BR and bath in lower level! Originally listed at $249K now $235K!
  
• Amazing value on 100 Ft of Forest Lake shoreline. 1988 built 3BR/3BA/2Car remodeled inside and out with breathtaking views of Forest Lake available due to relocation. Tax valued at $530K and NOT a short sale but down $150K being offered at $374,900
  
• 3BR/2BA/3CAR on 7 ACRES in Linwood! Built in 2006 custom built rambler in almost new condition. 3 BR on main, private master with whirlpool, front porch. Original asking price $349K but priced short at $249K.

If you are in the market for a great deal on a lakeshore or acreage home, time to get organized because the rules to buy are a bit different in this changed market. Many times you can be submitting your offer to a bank rather than a traditional seller and how they assess your purchase agreement is all business and less heart.

Eight Tips for homebuyers in this CHANGED real estate market:

1. Don't wait until after the holidays! Homes are being listed every day...even in November and December. If you wait until January 1st to contact a REALTOR and loan officer for preapproval, you will miss out on a deal or two. Many people choose to wait out until after the holidays...smart buyers will be ready to write an offer even if the home is listed a few days before Santa arrives!
   
2. Banks LOVE clean offers. Heck...traditional sellers love them too! Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won't be considered.
   
3. Banks reject lowball offers...often without negotiation. They are a business and know the value of the asset they are selling. Traditional sellers often will be offended by an unreasonable offer and less likely to negotiate. Make sure your agent provides comparable sales to review before writing your offer on the purchase agreement so it makes good sense to both you as a buyer and the seller.
   
4. Well priced homes get multiple offers. Serious buyers put in their best bid first.
   
5. Banks sell homes AS-IS. Homes held in an estate or owned by a relocation company will also routinely require AS-IS agreements.What you see is what you get. Buyers must be prepared to make all necessary repairs out of their own pocket after closing.
   
6. Banks will not pay for inspections in most cases. This includes the septic system and/or well. Be prepared as all inspections could end up being the buyer's responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500. Conversely, traditional sellers and relocation companies will often negotiate to determine who will pay for some types of the inspections. A basic home inspection is usually paid for by the homebuyer.
   
7. Personal property is not included as part of the sale when a lender owns the home. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don't guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace. This is not the case with a traditional sale. Make certain every appliance, as well as any other personal property, is listed in the purchase agreement if the home is sold by a traditional seller.
   
8. Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank or seller of the property. In many cases, banks do not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the seller...the listing agent is required to tell the seller and their representatives everything that you say about your financing and the amount you are able or willing to pay. But the listing agent is not required to tell you anything in return. The listing agent works only for the seller of the property. Having your own REALTOR® to represent your interests in the transaction usually does not cost anything...It is paid for by the seller.
   

FEATURED Listings in the Twin Cities North Metro:

9+Acres and 5+Garage in Oak Grove $259,900

Rehab and Build Equity in North St. Paul $99,900

Perfect Condo w/Pondview in New Brighton $149,900

Are YOU ready to find a GREAT DEAL on a home in the Twin Cities North Metro? Let me be your professional REALTOR®!

I have never been a hunter but buying an acreage home in Anoka County does present the perfect hunting opportunity now and then. Sure we see a deer run through the yard (or in front of our car) now and then but sometimes the missed opportunities are just GOLDEN! Just a few days ago, I heard quite a commotion in my backyard. Just a few weeks prior to Thanksgiving and we have a rafter of TURKEYS make a visit. We counted at least 40 of them. Quite an opportunity to take a shot or two...with my camera! Enjoy!