Minnesota Real Estate Blog

Edina Minneapolis St Paul Bloomington Minnesota Real estate

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Fri, 07 Mar 2014 02:28:21 -0800

Watch my show and learn about what is happening in the Twin Cities Real Estate market. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Twin Cities Home Inventories

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Sun, 03 Mar 2013 23:54:20 -0800

Twin Cities Low Housing Inventories Indicate a Trend in Minneapolis & St Paul Homes Low inventory is a relative term depending on how you're comparing it. Would the comparison be to total number of homes on the market last year, homes in a certain price range or homes in a certain area? In some situations, it's a combination of all of those things.

In any given market, inventories will fluctuate based on area and price range. The National Association of REALTORS® considers a balanced market to be six months' supply of homes. If it takes longer than six months to sell, it is thought to be a buyer's market and less than six months, a seller's market. Most buyers and sellers probably feel inventory equilibrium is more like three month's supply of homes. Inventory has a direct impact on price. During the housing bubble, demand decreased, supply ballooned to four million houses and prices dropped dramatically. Increased inventories due to foreclosures, bank' revised lending practices and builder's lack of new housing starts each contributed to the dramatically lower prices. As the market has recovered, economic conditions have improved, banks have loosened their requirements, interest rates have remained low, foreclosures have slowed and gradually, the inventory has been reduced to approximately two million houses. When demand is constant but inventory is reduced, price tends to increase because the same number of people are trying to buy a smaller than normal number of homes. Based on the low mortgage rates that have been inching up each week in 2013 and an improving consumer confidence level, most markets are experiencing some increase in demand. With inventory decreasing, buyers in the marketplace can see that prices are increasing. Just as signs of spring can be seen to be just around the corner, it should be recognized what direction prices will be moving. Hindsight is 20/20 but we can't purchase or sell in the past. We need to make decisions today on what we think will happen in the future. If you're curious to know what inventory conditions are for your specific market, send me an email with the price range and area and I'll send you a report. john@johnmazzara.com Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Minnesota homeowners refinancing

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Sat, 02 Mar 2013 04:39:25 -0800

Minnesota Homeowners Refinancing Again? Think about it. We're constantly bombarded by lenders to refinance our mortgage under a variety of programs. The volume of offers can almost make you numb to the rational consideration.

There are common rules of thumbs that homeowners and agents use such as not refinancing more often than every two years or there must be at least 2% savings from your previous mortgage rate may not always be accurate. Rules like this are a cliché. Only a discussion and analysis can provide you with the right information to make an informed decision. The reality is that if you can refinance for a lower rate and you'll be in the home long enough to recapture the cost of refinancing, it should be considered. The costs of previous refinancing that haven't been recaptured by monthly savings may need to be added to the costs of the new refinance. Refinancing may save you a substantial amount of money, especially if you're going to be in your home for a long time. It is definitely worth investigating. To get a quick idea of what your savings might be, call me. I will be happy to help you determine what rate and programs might work best for you based on your situation. 15 minutes on the phone could save you a ton over the life of your loan. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

How long do lenders require you to wait after a credit issue?

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Tue, 14 Aug 2012 12:52:49 -0700

How Long Do I Have to Wait Before I Can Purchase Again?

The question concerning people who’ve had a foreclosure, short sale or bankruptcy is when they will be able to qualify for a mortgage loan. It takes different amounts of time to heal credit scores based on the event. The following chart is meant to be a general guide for how long a person might have to wait. During this waiting period, it’s important that the person be current on all payments and maintains a history of good credit.

	FHA	VA	USDA	FNMA/Freddie Mac	Jumbo
Foreclosure	3 years	2 years	3 years	7 years	7 years
Deed-in-Lieu of Foreclosure	3 years	2 years	3 years	2 years <80%	4 years 81-90%	7 years > 90%	7 years
Short Sale	3 years	2 years	3 years	2 years <80%	7 years 81-90%	7 years > 90%	7 years
Chapter 7 Bankruptcy	2 years	2 years	3 years	4 years	7 years
Chapter 13 Bankruptcy	1 year	1 year	1 year	2 years	7 years

A recommended lender can give you specific information regarding your individual situation and can make suggestions that will improve your ability to qualify for a mortgage. We want to be your personal source of real estate information and we're committed to helping from purchase to sale and all the years in between. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Minnesota Homeowner And First Time Buyers

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Mon, 06 Aug 2012 11:36:55 -0700

Homeownership Rules For Minnesota Homeowners Most people agree that homeownership rules! When asked, people say they want a home they can call their own, to raise their family, share with their friends and to feel safe and secure. It also accounts for the majority of most people's net worth.

These rules can help protect your investment and make homeownership more enjoyable. Don't overpay for your home Maintain your home's condition Minimize your assessed value to lower property taxes Make extra principal contributions to save interest and build equity Validate the insured value of improvements and contents Stay current on surrounding property values Make mortgage interest payments deductible Invest in capital improvements that increase market value Don't over-improve the neighborhood Keep records of capital improvements and other maintenance We want to be your personal source of real estate information and we're committed to helping from purchase to sale and all the years in between. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Minnesota Second Home

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Tue, 31 Jul 2012 09:08:21 -0700

Retirement Home Now? Maybe you're not ready to move into it but that doesn't mean that you shouldn't take advantage of the present opportunities to acquire the home you want to live in during retirement. The combination of the low interest rates, reduced prices and lower competition may never be this good again in our lifetimes.

The rental market is strong and a tenant could pay for your retirement home. The cash flows are attractive and the yield is bound to be stronger than what you're currently earning. Even if you don't retire to this home, it could be a placeholder to control the costs of the home you do move into. One thought would be to finance it with a 15 year loan that will have a lower rate than that of a 30 year loan and it will obviously amortize in half the time. Even if you don't have the home paid for by the time you retire, your equity will be larger. Ideally, if you sell your current home when your move into this retirement home, you may be able to take up to $500,000 of tax-free gain for a married couple. That profit could be used to fund your retirement. With home prices and mortgage rates certain to rise, this may be one of the best decisions you can make. We want to be your personal source of real estate information and we're committed to helping from purchase to sale and all the years in between. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Minnesota 4th Of July

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Mon, 02 Jul 2012 02:22:20 -0700

Enjoy the fireworks!! Star Spangled Banner Our American flag is obviously the symbol of our country but it has come to remind us of every man and woman who has fought for the freedom that we enjoy. The emotions that are stirred by images of our flag can run from happiness to sadness to even anger and everything in between.

Most of us learned basic flag etiquette when we were young but occasionally, it is a good idea to review the procedures so that we treat the flag with the respect that it deserves. The U.S. flag should not be flown at night unless a light is shown on it. The flag should never touch the ground. The U.S. flag should not be flown upside down except as a distress signal. A U.S. flag should be displayed at the peak of the staff unless the flag is at half-staff. When displaying multiple flags of a state, community or society on the same flagpole, the U.S. flag must always be on top. When flown with flags of states, communities or societies on separate flag poles which are of the same height and in a straight line, the flag of the United States is always placed in the position of honor - to its own right. No flag should be higher or larger that the U.S. flag. The U.S. flag is always the first flag raised and the last to be lowered. When the U.S. flag is flown with those of other countries, each flag should be the same size and must be on separate poles of the same height. Ideally, the flags should be raised and lowered simultaneously. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Buying a Minneapolis home

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Mon, 11 Jun 2012 23:40:19 -0700

Gift or Inherit Transferring the title of a home from one person to another may seem simple but it could have a significant tax implication.

When a person inherits property, the basis is "stepped-up" to fair market value at the time of the decedent's death. On the other hand, a gift has a carry-over basis which means that the recipient receives the unrealized gain also. As an example, let's say an elderly parent, in an attempt to get their affairs in order, gives their home to their adult child. The rationale might be that they are the sole beneficiary and will get the property eventually. In an effort to settle things early, unnecessary income tax may be incurred. If the home was purchased for $20,000 and worth $100,000 at the time of transfer, there is a possible gain of $80,000. However, if the adult child inherited the property at the time of the parent's death, their new basis would be $100,000 or the fair market value at the time of death and the possible gain would be zero. This is meant to be an example and many other variables could be involved. If you're concerned about a situation, you should seek specific advice from a tax professional. As always, I'm here to help you I can as your real estate professional. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Twin Cities real estate

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Fri, 09 Mar 2012 10:54:34 -0800

What does the media think about housing prices? I have the "boots on the street" opinion. It is nice to see national publications confirm what I already know-the real estate values are HUGE. NOW is the time to buy. If you are looking in the Twin Cities-give me a call to show you the extreme values. http://money.cnn.com/2012/02/15/real_estate/housing_affordability/index.htm?section=money_realestate&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_realestate+%28Real+Estate%29 Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Minneapolis St Paul Distressed Homes

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Fri, 09 Mar 2012 10:46:53 -0800

Distressed Sales Numbers Changing By John Mazzara & Rob MintonWhile there’s little question that foreclosures have slowed because of paperwork issues and even government policies aimed at slowing them, sales of distressed properties still make up a relatively large percentage of all sales.That will probably continue to be the case, at least for a while anyway, but the way the numbers break down when it comes to distressed properties seems to be changing rapidly.RealtyTrac, a foreclosures listings firm, reported recently that nearly 1 out of every 4 sales (24 percent) in the fourth quarter of 2011 was of a home in some stage of the foreclosure process. Even with banks’ slowing down the foreclosure pipeline somewhat, that is still a large percentage of homes when you compare it to historical averages.The sales of distressed properties in the quarter were up by 20 percent compared to the quarter before, according to RealtyTrac, but were down slightly from the same quarter of 2010, when distressed sales were 26 percent of all transactions.What’s interesting, though, is that the number of bank-owned homes that sold in the fourth quarter were down by about 12 percent from the same quarter the year before. It’s becoming less and less a secret that banks are more reluctant these days to repossess homes, and are letting defaulted borrowers actually stay in them longer, but if bank-owned properties are rarer, then why are distressed sales still climbing?The answer seems to be that banks continue to be more willing to do short sales than they used to be.Short sales – which occur when the lender agrees to let the homeowner sell the house for less than what is owed on it – were up 15 percent in the fourth quarter of 2011 compared to the same quarter a year earlier, according to RealtyTrac. There has continued to be anecdotal evidence that short sales have become more favorable options to lenders over the past year or so, but the RealtyTrac data seem to indicate that the anecdotes seem to be based in fact. Brandon Moore, the CEO of RealtyTrac, said he believes short sales will continue to increase as lenders recognize that it might be a better option for what he called “underperforming” loans.I tend to agree. Banks seem to be getting used to the idea that repossessing a home isn’t the best way to cut their losses. Vacant, uncared-for homes are harder to sell, and paying property taxes and other costs while waiting and hoping for an unmaintained home to sell is often a challenge. If you were a bank, for example, would you be more willing to take a $15,000 or $20,000 loss on a short sale right now, or repossess a home, pay taxes on it while it sits vacant and hope that when it eventually sells you won’t take as big a hit?It’s good for housing markets, individual neighborhoods and buyers and sellers that short sales are becoming a more viable option. For one, short sales less frequently result in a home being vacant for an extended period of time. That means homes are in better shape and neighborhoods aren’t blighted by homes in disrepair. For sellers, a short sale is usually better financially than a foreclosure eviction. For buyers, they’re a way to get a discount from market value while not worrying about buying a bank-owned home that’s been sitting vacant. And while it’s true that a large percentage of distressed sales in an area – whether it’s a bank-owned sale or a short sale – will have a downward effect on home values, it’s typically true that short sales are less impactful.I think that buyers and investors should pay attention to this trend because a short sale for many people is a way to get a great price on a home without having to settle for a home that’s not in good shape. Potential sellers, too, should take heed. With more banks considering short sales as the more attractive option, distressed sellers might have more and/or better options than they’ve had in the past.The bottom line is that, compared to the time before the housing bubble, distressed sales are going to keep making up a relatively large percentage of sales. The shift toward short sales, however, could benefit all involved – banks, buyers, sellers and neighborhoods. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Minnesota Mortgage Rate Perspective

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Wed, 25 Jan 2012 08:52:50 -0800

Watch our latest TV show to learn about the current real estate and mortgage market. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Minnesota Transfer of Property between spouses

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Thu, 08 Dec 2011 01:45:25 -0800

Recently I met with one of our resources-attorney Leslie Kimes. We discussed divorce and real estate and the disposition of real estate to of of the spouses. I was not aware of the use of the summary real estate disposition judgement. What a unique tool!. Leslie wrote the following to share with us-call her for any of your legal needs: Use of Summary Real Estate Disposition Judgments in Divorce Cases As a family law attorney, I use Summary Real Estate Disposition Judgments (SREDJ) instead of Quit Claim Deeds to transfer title to property in marriage dissolution (divorce) cases to reduce costs and avoid the recording of Judgment and Decrees with the Recorder's Office. The SREDJ serves the same purpose as a Quit Claim Deed, and actually exceeds the scope of a deed by serving to convey title to all parcels of real estate owned by the parties, even if they are in different counties. The SREDJ is drafted by the attorney and submitted to the judge for signature after the Judgment and Decree has been entered. After the SREDJ has been signed by the judge, a certified copy is obtained and recorded at the appropriate Recorder's or Registrar's Office to effectuate the transfer of title. If more than one parcel has been transferred in the Judgment and Decree, the appropriate number of certified copies are ordered and recorded in each county. This way, only one recording fee is paid for each parcel and the Judgment and Decree does not need to be recorded. There is a lot of private information in a Judgment and Decree that does not need to be on file at a Recorder's Office! On the other hand, when a Quit Claim Deed is used, there must be a deed for each parcel, the former spouse needs to sign each deed, and a Judgment and Decree needs to be recorded with each deed. Obviously, the client is then paying twice the certified copy and recording fees as with a SREDJ. In short, a Summary Real Estate Disposition Judgment is a much more cost-effective way to convey title in marriage dissolution cases and saves time in streamlining the signature process (judge vs. former spouse). Leslie L. Kimes Attorney at Law 7714 Brooklyn Boulevard Suite 102 Brooklyn Park, MN 55443 (763) 561-9197; Fax (763) 560-7053 www.lkimeslaw.com Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

How a real estate agent can help a buyer

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Sun, 21 Aug 2011 17:44:15 -0700

If you are currently in the market for your first home, you may be curious as to how a Real Estate Agent can help you. You are about to be making an important decision for your future, a great investment of both money and time. I have a wealth of experience helping first time buyers like you make sound, informed decisions. Here are some ways that you can benefit from the help of a real estate professional: Agents can help establish a plan for a home that fits your needs. Style, size, amenities, and other preferences will help determine what kind of home is best suited for you. They will help you to determine realistic spending limits. They can often explain alternative financing options or introduce you to a mortgage counselor. Agents can arrange to have you “pre-approved”, which can help improve your positioning in negotiations. Their access to all home listings within the multi-listing system enables them to evaluate based on your affordability and the qualities you desire. They have access to information on taxes, real estate values, utility costs, and municipal services, all of which can aid you in your decision to buy. They provide direct service by working for you as a buyer’s agent, helping to negotiate the best terms and price for you. They can make you comfortable with the closing process and they will obtain closing figures in advance for your review. They can recommend home inspectors, pest inspectors, and surveyors, and can help arrange inspections. These are just a few ways that a quality real estate agent can help you in your journey towards buying your very first home. More information for first time buyers can be found on my website or by calling me directly. I’m confident that I can provide the kind of exceptional service that will make this process an exciting one. Please don’t hesitate to call or e-mail me with any questions you may have. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Tips for first time home buyers

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Sun, 21 Aug 2011 17:41:47 -0700

Tips for First Time Buyers

Dear First Time Buyer, If you are currently in the market for your first home, you probably have lots of questions. You are about to be making an important decision for your future, a great investment of both money and time. I have a wealth of experience helping first time buyers like you make sound, informed decisions. Here are some tips that can help make your home buying process successful: Tip #1: Do Your HomeworkThe perfect home won’t find you by itself. The key step in buying a home is doing the proper research. Educate yourself on local schools, neighborhoods, and the kinds of homes available. By reading available materials and talking with experts, you can start to put together your idea of the perfect home. Tip #2: Start PlanningMost decisions benefit greatly from proper planning, and home buying is certainly no exception. Start a filing system with sections such as home buying, home financing, and service providers. By forming a home buying plan you can more easily focus on the most important factors and help give structure to the entire process. My website is a great resource for property information. Tip #3: Get PreQualifiedGetting prequalified for a loan normally only requires a short phone conversation with a lender, and can greatly help your home search. Prequalification does not guarantee you a loan, but it does provide you with an estimated monthly payment and a price range to use as a guide when shopping for homes. Being prequalified can also often indicate to sellers that you are a serious, prepared buyer. Tip #4: Look for ValueWhen shopping for homes, it’s important to consider potential value. Even if you’re not planning to sell the home some time down the line, it’s a good idea to consider the future value of the home. Protect yourself against things like falling prices and gradual shifts in the nature of the neighborhood. You may not think of a new home as a means to make money, but it’s an important investment that requires caution. Tip #5: Decide What You’re Looking ForSettle on the home features that are important to you (covered parking, hardwood floors, architectural style, etc.) and make an ordered list. Having well established guidelines will help narrow down your search and will prevent you from being shown properties that lack your key amenities. It can help you make the decision not to buy an attractive property that doesn’t really fit your needs. My website has a search feature that allows you to filter thousands of listings based on attributes that you select. If you know you want a brick house with gas heat and a garage, you can get the results you’re looking for. Tip #6: RelaxYou don’t have to make an offer on the first home you see. Make sure to look at other listings in the area to get a feel for the marketplace. When you decide to make an offer on a house, consult with your real estate professional so that all of your questions are answered. Tip #7: Shop Around for Your MortgageDeciding on the financing for your home can be as important as choosing a home itself. The first step is deciding what kind of loan best fits you: a fixed rate mortgage, or an Adjustable Rate Mortgage (ARM). There are benefits to each form of loan, and your real estate professional can provide you with more information. Next you’ll want to begin to shop around for different lenders. Tip #8: Protect YourselfBe careful when signing a contract on a home that allows you to find financing, have the home inspected, and work through any problem areas that may arise. Paying for a quality home inspection is absolutely crucial! You can save yourself thousands in repair costs by being sure of what you’re getting into. More information for first time buyers can be found on my website, or by giving me a call. I’m confident that I can provide the kind of exceptional service that will make this process an exciting one. Don’t hesitate to contact me with any questions you may have, I would love to be of assistance to you.

Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Pre-Qualified Or Pre-Approved?

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Sun, 21 Aug 2011 17:40:45 -0700

If you’re considering the purchase of a new home, you may be concerned with the issue of finance. Attaining the right mortgage is a key step in the home buying process, but it doesn’t have to be a stress-inducing one. Most lenders offer prequalification, pre-approval or both to help you know where you stand. Let me explain the difference between prequalification and pre-approval: Prequalification: Prequalification is a preliminary estimate of how much you can afford to pay for a home based on information you provide. Because credit and employment information aren’t validated for prequalification, it can only be considered a rough idea of a monthly mortgage payment and loan size. This can be a useful guide as you begin the home buying process, however. Pre-approval: Pre-approval is a written commitment from a lender to finance your home purchase up to a set amount. This indicates that the lender has taken a close look into your financial history and has agreed to lend you a specific amount of money, reliant on certain details like a finalized sales contract and professional inspection. Pre-approval indicates to sellers that you are a serious homebuyer. Regardless of which option you utilize, or even if you take both steps, you’ll be able to shop with much more confidence. Why wait until you find the perfect home to discover problems with obtaining a mortgage? If you would like more information on how either process can help you get into the home of your dreams, give me a call. I’d be happy to answer any of your real estate needs. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

What to look for in a floor plan

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Sun, 21 Aug 2011 17:39:08 -0700

Finding the right home can be challenging, even if you’ve been through the home buying process before. When looking at new homes, it’s important to remember that a good floor plan in a home makes life more enjoyable, and adds value to the home should you need to sell in the future. Some things to be looking for: A well designed kitchen space, with adequate counter space, outlets, and room for appliances. Stairways that are located in the front entry or other central positions. Flexible rooms that can be used for different purposes. One person’s second guest room is another’s office or home gym. A good bedroom to bathroom ratio, which can make all the difference. Typically two bathrooms for every 3 bedrooms will be sufficient. Light switches and outlets that have good placement throughout rooms. As an experienced real estate professional, I can help you determine what features of a home are most important to you. Having a clear picture of your dream home will help you sort out the homes that just don’t fit. Please call me with any questions you may have. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Common Defects Found During A Home Inspection

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Sun, 21 Aug 2011 17:36:33 -0700

Subject: Avoid regrets-Get a home inspection before you sign! The home buying process is a lengthy one, and many buyers rush through or even forgo the home inspection. It’s important that you don’t make the same mistake! Professional home inspections can save you time and money, or even prevent you from making a disastrous deal. In case you’re not convinced, I’ve compiled a quick list of some serious home defects that can be found during a home inspection: Defect #1: Bad Foundation Unless you can negotiate a price reduction to cover cost, walk away.Defect #2: Worn Roof Most likely it will need to be replaced. If the seller will not do so, negotiate a lower price.Defect #3: Termite Infestation The house is probably in need of expensive structural repairs. Unless the seller is willing to help pay, it’s probably not a good investment. Defect #4: Outdated Wiring This can be expensive to correct, and is a dangerous problem. Negotiate with the seller after getting an estimate from an electrician.Defect #5: Damaged Shower Pan Get an estimate from a contractor if you find water under the shower, and negotiate with the seller to cover costs.Protecting your investment, especially one as special as a new home, is crucial. An expert home inspection is often the most important step in securing that protection. More tips on home buying are available on my website. If you’d like to talk more about home inspections or any of your real estate questions, please call. I’d love to hear from you. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

New ruling on short sale purchases secured by a securities loan

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Sat, 30 Jul 2011 05:36:47 -0700

No Gain or Loss Needs to Be Recognized in Securities Loan Transaction for Short Sales The Tax Court recently reiterated its position with respect to non-recognition of the loan of securities by one to another person, such as a broker or investor engaging in a short sale. The Tax Court rules that such a loan does not constitute a "sale" for which capital gains would otherwise be realized. The Court set forth the terms of the loan agreement that must be agreed to by the parties under Section 1058(b), including (1) the return to the owner of identical securities that were transferred to the borrower, (2) payments must be made to the owner of the shares equal to all interest, dividends and other distributions which the owner of the securities would otherwise be entitled to receive, if any, during the loan period, (3) the owner's risk of loss or opportunity for gain remains the same, and (4) the agreement complies with all requirements under the Tax Regulations. See Henry Samueli et al v. C.I.R., 132 T.C. No. 4 (2011). Under the proposed regulations, the payments compensating the owner of the securities for interest, dividends and any other distributions are treated as "a fee for the temporary use of property" and not as interest or dividend income, except for those instances where the borrower defaults under the loan agreement or fails to deliver any consideration to the lender of the securities. In these limited circumstances, gain or loss must be recognized by the lender at the time of the borrower's default. This article was written by a friend of mine, Steve Katkov. Steve Katkov is Senior Vice President and General Counsel for Commercial Partners Exchange Company (CPEC), a national qualified intermediary facilitating tax-deferred exchanges of both real and personal property pursuant to Section 1031 of the Internal Revenue Code. He has been involved in thousands of 1031 exchanges of real and personal property, including complex reverse and improvement exchanges. His client list includes Fortune 100® companies and some of the nation’s largest privately held corporations. Prior to joining CPEC, Steve served for more than six years as a Vice President/Regional Manager for First American Exchange Co. (a subsidiary of First American Title Ins. Co.). Steve Katkov, SVP (612) 419-6118Commercial Partners Exchange Co.1300 U.S. Bank Plaza220 South Sixth StreetMinneapolis, MN 55402 Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Investment Properties in Minneapolis & St Paul

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Mon, 25 Jul 2011 17:34:54 -0700

What is a CIAS? A Certified Investor Agent Specialist (CIAS) is an agent with a thorough understanding of how to find, create and close with real estate investors. In addition, the CIAS has been trained to identify and address the needs of the Five Investor Types: First-Time, Move-Up, Portfolio, Performance, and Rehab and Resell. Here are some little-known statistics about the real estate investment market: - Over the past 12 months, investment and second-home properties comprised more than $300 billion in sales - This represents approximately 27 percent of all residential real estate transactions - 48 percent of investors made all-cash purchases - 43 percent of investors earned less than $75,000/year Today represents an unprecedented opportunity to build wealth through investing in real estate, and I have the training, tools and calculations to create strong investment strategies. Call me today to learn more about real estate investment. Let's talk about purchasing a piece of real estate.

St Louis Park Townhome

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Tue, 17 May 2011 09:56:56 -0700

Check out the virtual tour. The property is in excellent condition in a super convenient location on a pond, just off of the Hennepin County Trail. http://www.obeo.com/Public/Viewer/Default.aspx?ID=665903

John Mazzara | RE/MAX Results | (952) 929-2577

8054 Victoria Way, St Louis Park, MN

Victoria Ponds twinhome-corner unit just off of the Hennepin Trail.

3BR/2+1BA Townhouse

offered at $304,900

Year Built	1998
Sq Footage	2,152
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	Unspecified
Parking	2 Car garage
Lot Size	4,791 sqft
HOA/Maint	$265 per month

DESCRIPTION

Outstanding walkout twinhome in Victoria Ponds-St Louis Park.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Tile floor	- Family room
- Dishwasher	- Refrigerator	- Stove/Oven
- Microwave	- Basement	- Washer
- Dryer	- Laundry area - inside	- Balcony, Deck, or Patio

COMMUNITY FEATURES

- Lake

OTHER SPECIAL FEATURES

- End unit, great condition, super convenient location

ADDITIONAL PHOTOS

Main exterior	Dining Room
Living Room	Family Room
Kitchen	Deck

Contact info:

John Mazzara

RE/MAX Results

(952) 929-2577

For sale by agent/broker

Equal Opportunity Housing

Posted: May 17, 2011, 12:51pm PDT

Uptown Home For Sale

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Sat, 30 Apr 2011 06:12:40 -0700

Open House on 5/1/2011

2719 Harriet Ave S

MINNEAPOLIS, MN

Outstanding uptown 2 story in tremendous condition. Consider the following features: 3+ bedrooms, hardwood flrs,tastefully decorated,light & brigh

4BR/1BA Single Family House

$179,900

Year Built	1900
Sq Footage	1,403
Bedrooms	4
Bathrooms	1 full, 0 partial
Floors	2
Parking	Unspecified
Lot Size	3,920 sqft
HOA/Maint	$0 per month

Property Features

Hardwood floor	Living room	Dining room
Refrigerator	Stove/Oven	Basement
Washer	Dryer	Laundry area - inside
Balcony, Deck, or Patio	Yard

Additional Photos

Front	Back
Back Yard	Dining Room
Kitchen	Living Room

Contact Info

John Mazzara

RE/MAX Associates Plus

(952) 929-2577

For sale by agent/broker

Equal Opportunity Housing

Enter your town to WIN!!!

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Tue, 05 Apr 2011 12:17:56 -0700

Readers Digest is having a contest where your town can win some cash and big prizes. Go check it out at this link http://wehearyouamerica.readersdigest.com/ Who knows--you could be a hero. It just takes a minute and can result in better recognition of your town if you end up in the top city list. Visit My Twin Cities real estate site at http://www.MinneapolisStPaulHomes.com and our Minnesota mortgage site at http://www.VentureLoanApp.com Start your Twin Cities MLS Home Search NOW Reality Based Real Estate InvestingPromote Your Page Too OnToplist is optimized by SEOAdd blog to our directory.

Richfield Rambler-Beautiful Home

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Thu, 24 Mar 2011 11:17:05 -0700

7244 Oakland

RICHFIELD, MN

Awesome Rambler-EXTREMELY well maintained. Just move in and enjoy. LOTS of upgrades-neutral and tastefully decorated throughout.

3BR/1BA Single Family House

$149,900

Year Built	1951
Sq Footage	1,201
Bedrooms	3
Bathrooms	1 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	8,712 sqft
HOA/Maint	$0 per month

Property Features

Central A/C	Central heat	Hardwood floor
Office/Den	Dining room	Refrigerator
Stove/Oven	Basement	Washer
Dryer	Yard

Additional Photos

Main Exterior	Bathroom
Dining Room	Lower Level Family Room
Unfinished Basement	Bathroom

Contact Info

John Mazzara

RE/MAX Results

(952) 929-2577

For sale by agent/broker

Equal Opportunity Housing

Minneapolis Condo For Sale

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Sun, 20 Mar 2011 06:47:00 -0700

2850 Cedar Ave S #304

MINNEAPOLIS, MN

Very cool condo on the Greenway. Only a few years old, what a bargain!

1BR/1BA Condo

$80,000

Year Built	2005
Sq Footage	797
Bedrooms	1
Bathrooms	1 full, 0 partial
Floors	3
Parking	Unspecified
Lot Size	Unspecified
HOA/Maint	$242 per month

Description

Greenway Terrace-26 Uints.Very Sharp Top Floor unit on the Greenway. Tons of Upgrades-Granite, Maple Built-Ins, Main Floor Community Room

Property Features

Central A/C	Central heat	High/Vaulted ceiling
Walk-in closet	Hardwood floor	Living room
Refrigerator	Stove/Oven	Granite countertop
Stainless steel appliances	Washer	Dryer
Laundry area - inside	Balcony, Deck, or Patio

Community Features

Garage parking

Secured entry

Elevator

Additional Photos

Exterior Front	Balcony Views Of Greenway
Community Room-main flr	Kitchen
Dining Area	Living Room

Contact Info

John Mazzara

RE/MAX Results

(952) 929-2577

For sale by agent/broker

Equal Opportunity Housing

Apple Valley Two Story

John Mazzara, CFP CLU RICP CHFC CEBS MBA MS CMB (RE/MAX Results) — Wed, 09 Mar 2011 14:24:38 -0800

13860 Fawn Ridge

APPLE VALLEY, MN

Outstanding just begins to describe this home. Major upgrades and designer decorating throughout. Just move in and enjoy.

4BR/3+1BA Single Family House

$325,000

Year Built	1996
Sq Footage	3,064
Bedrooms	4
Bathrooms	3 full, 1 partial
Floors	2
Parking	3 Car garage
Lot Size	14,810 sqft
HOA/Maint	$0 per month

Description

MINT condition! Tastefully decorated! A 10! You will fall in love with this home. Simply place your furniture and enjoy! Great neighborhood and just blocks to Eastview

Property Features

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Tile floor	Family room	Office/Den
Dining room	Dishwasher	Refrigerator
Stove/Oven	Basement	Washer
Dryer	Laundry area - inside	Balcony, Deck, or Patio
Yard

Other Special Features

Outstanding Two Story-Stunning!

Additional Photos

Exterior Front	Exterior Back
Kitchen	Kitchen Family Room
Lower Level AM Room	Main Floor Office

Contact Info

John Mazzara

RE/MAX Results

(952) 929-2577

For sale by agent/broker

Equal Opportunity Housing