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 Twin Cities Real Estate Source
May 2010
Greetings!

1550 Zarthan front photo
Well the stimulus money program has come to an end.  The most frequent question that I received during the last week of the program was "what is going to happen with the real estate market when it is over?"
 
I look at this question through my personal lens of being an active buyer.  I have said to myself and to my husband that we need to buy a new home in the
1550 Zarthan front photo
 very near future.  This is motivated by knowing that if we don't, we will look back and regret missing the most unbelievable time for buying.
 
There are three reasons that direct my thinking.  First, interest rates; I think we'll look back in ten years and just laugh (or cry) when we talk about how rates were below five percent.  Second, prices; this is the bottom of the market.  It is true, you don't know you've hit bottom until prices start to go up.  Well, if they go up you missed the bottom anyway.  The bottom is close enough for me to spot an opportunityAnd third, the government money that was available to me - up until April 30th - as a "move up buyer".  This was by far the least significant part of my home-buying equation.  To me a one-time $6,500 tax credit did not out weight the benefits presented by historically low interest rates and low prices.    
 
So, with interest rates incredibly low, prices which are great, my search for a new home will continue. Mike and I are working with many buyers who feel the same way.  For me, I have the bug.  I've mentally started placing furniture in a new dwelling and it's too hard to turn back and say I'll just wait and see what happens with the economy.  I believe I'm not alone in this thinking.
 
Next time: I sure wouldn't want to be my agent!


Warmly,

 

 Kricket

 
Kricket and Mike
KricketandMike.com Inc
 
2009-10 Cost vs. Value Report: Small Projects, Big Bang
Judicious home remodeling is still worth the investment, according to Remodeling magazine's annual "Cost vs. Value Report."
 
By G.M. Filisko | January 2010
 
Uncertainty and restraint are the order of the day in this economy, and that sense of caution is reflected in home owners' return on their investment in remodeling projects, according to REALTORS® in 80 metropolitan markets surveyed by Remodeling magazine for this year's Cost vs. Value Report.
 
The majority of the 10 remodeling projects with the best return on investment nationally are a testament to pragmatism.
 
 
 
  
Current Market Information
Statistics from Minneapolis Association of Realtors 
 
Now Available...
 
5554 Bimini 
 
Mid-Century Modern with a California architectural flair.  This home is very cool!  It sits on .71 acres of a gently sloaping hill.  The back yard is complete with a pool and a stunning landscape architect designed garden.  4 bedrooms, 3 baths and over 4000 finished square feet.
 
Offered For: $525,000
 
 
Virtual Tour
Now Available...
 
Fantastic Beachside townhome located in a very quiet part of the development.  Loads of potential and value priced.  The two bedroom two bath can be converted to a three bedroom quite easily.  Wonderful western exposure and a entertainment size deck are nice features as well.     
 
Offered For: $164,900
 
Virtual Tour
Mortgage Minute
News from Rita Welton, Burnet Home Loans
 
WHAT'S NEXT FOR INTEREST RATES?
 
If I only had a crystal ball.....

Here is my personal opinion on the direction of mortgage interest rates...

Since the Federal Reserve ended its mortgage-backed securities program the end of March, interest rates are expected to start rising because the private sector must pick up the slack while demanding greater returns.  Although rates are expected to increase, I believe the rate climb will not be steep, but more of a gradual incline.
All the more reason to take advantage of the terrific rates that are now available.

Please contact me for a current rate quote.



Rita Welton
Loan Officer
PHH Home Loans
612-925-8423 direct
rita.welton@phhonline.com

  
This statement of current rates is not an offer to enter into an agreement for a loan at a specified interest rate or number of discount points or both.  (In Minnesota:  an offer to enter into such an agreement may only be made pursuant to Minnesota statutes section 47.206.) Current interest rates and discount points are subject to change at any time without notice to you.
Kricket's Social Korner
 
Restaurant Suggestions - Special Guest Reporter; Mike
 
This month's restaurant suggestion is one of my favorite comfort food stops, Snuffy's Malt Shop.    When you feel like un-tucking your shirt and throwing caution to the wind, Snuffy's is a great place to treat yourself to a little guilty indulgence. 
 
Experience a blast from the past at this popular 50's style diner. While you won't be hanging out with Fonzie and the gang, you will get a killer Snuffy Burger with chili cheese fries along with the signature Snuffy malt. For the more health conscience, you can find lighter fare, like a salad or a chicken sandwich.  The menu isn't too varied, but you do have options.  Top off your experience and rock the night away with tunes from Elvis, Little Richard and The Platters played from the jukebox. 
 
There are four Snuffy's locations around the Twin Cities, including Minnetonka, Edina, Roseville and the Highland Park neighborhood in St. Paul.  The locations are a short ride from most parts of the City making it convenient to enjoy these classic burger joints.  All locations open at 11am Monday through Friday and noon on Sunday.  They generally close between 8-9 pm, so don't make plans for a late night stop.

 
In This Issue
Cost vs. Value Report: Small Projects, Big Bang
Current Market Information
Featured Listing
Featured Listing
Mortgage Minute
Kricket's Social Korner
Mike's Mind-Twister Trivia
Trivia Answers
Contact Information
Mike's Mind-Twister
 
Be the first one to email the correct answer to the question and win a $15 gift card to either Caribou Coffee or Target Stores.  Send your reply to:  Kricket@cbburnet.com
 
 
Trivia Question:
 
Mike and Kricket share two alma maters, what are they and who graduated first from each one?
 
Trivia Answer:
 
March Trivia Question:
 
What is the title and who is the artist of the song that the Star Tribune named as one of the 12 best baseball songs of all time?  Bonus points - on which compilation CD could you find this song?
 
 
Trivia Answer & Winner:
 
The correct answer was
Harmon Killebrew by Jeff Arundel
 
Stacey Johnson was the winner!
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KricketandMike.com
 
Coldwell Banker Burnet
3033 Excelsior Boulevard 
Minneapolis, Minnesota 55416
 
612-920-5605 - office
612- 802-5502 - mobile Kricket
952-270-2079 - mobile Mike
 
 

 
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