THE REAL ESTATE ECOBLOG

Check out the December Skinny

This video will provide you an update on the Twin Cities Real Estate Market!

Coming soon Waters Realty will be launching it's very own youTube channel...

Carfax Reports For Your House

Yes that's right.  You can now buy a history report for your home.  This program is brought to you by EDR.  EDR's Neighborhood Environmental Reports work much like the Carfax program.  It highlights any past issues or concerns that were recorded either with a state agency or insurance company.  With the level of seller disclosure continuing to slip away this is another way to protect yourself from unwanted and potentially large issues with a home you are purchasing.

For example: suppose the septic was installed 30+ years ago and has never been updated.  Would you want to know about this ahead of time, prior to closing?  Or the well was never capped, there was a chemical spill that was never properly cleaned up...All of these are potentially large bills to correct.  The current seller may not know of or not want to disclose these problems.  Or in today's market you are buying a property from a bank and it is sold as is with no disclosures! 

Although this program is still new, it has huge potential to protect both the buyer, seller, and REALTOR from unexpected costs and problems.  Personally I think this is a great idea.  One of the aspects of my business is representing investors who purchase foreclosed homes, do extensive remodeling and then sell the home again.  This report could take some of the guess work out of potential problems down the road...

If you would like more information feel free to give me a call or email.  You can always visit me at www.watersrealtymn.com.

Buyers and Their Agents Beware....

Why is it when a bank is involved in a real estate sale, agents seem to think the rules have changed?  I find this recent trend both disturbing for buyers and frustrating for everyone.  The problem I am referring to is properties continually being offered for sale on the Multiple Listing Service (MLS) when in fact they are  sold.  This problem affects not only a buyers ability to really decide what to buy  but it also affects the days on market statistics, the average number of homes on  the market, the median sale price of homes, and on and on.  All of these statistics  are used to determine the health of the market and the information comes from  the MLS.   Needless to say this can present a problem for people in the market to buy a home or even refinance their existing home.  

During one experience working with a client, we found 7 houses that may have been right for her.  All of them are listed as active on the MLS and not until after I scheduled the showing did I get an email, phone call, or some other notification that the properties were sold.  This happened with 5 of the 7 homes I was trying to show this client.  

This is not something that is new, especially with properties that are sold subject to an inspection contiguency.  What is new is that the offer on the property could be completely negotiated signed and just waiting for closing but the seller (bank) will accept back up offers so the agents are keeping them active.  Or it is a short sale in which the seller has accepted the offer but the bank has not.  These situation would not be a big deal if it was only a small percentage of the properties on the market but this is happening in well over half the listings in certain market areas.  I am not sure what exactly makes those responsible think this is an acceptable practice and I imagine they have not read state law or our realtor code of ethics to realize that this is illegal.  

I have represented many different clients in selling foreclosed properties and other than a few addendums the bank asks buyers to sign and the homes are sold "AS IS" it is not that different than working with any other seller.  Forgive me for this little rant but the point is.....The rules do not change just because it is a foreclosure or short sale!  

The Latest on Home Security

Home security is usually one of those things that everyone knows they need to think about but nobody wants to spend the time to figure out what to do. We can always procrastinate it with a feeling that it will not happen to us so why hurry. Unfortunately, that is exactly what most burglars are waiting for...the unsuspecting home owner who is too busy with life to worry about security. The city of Minnetonka and the cities police department gave a great list of ways to improve security in their January newsletter. Check out highlights from the list below or go to www.eminnetonka.com and check out the full list! The city is also offering free security inspections to Minnetonka residents to identify areas that need improvement. Call Nicole Nelson for an appointment at 952-939-8546.

Landscaping

1) Make sure your house number is visible at all times

2) Burglars love privacy, so consider a chain link or wrought iron fencing and make sure to trim bushes to at least six inches from windows and doors.

Locks

1) Use Deadbolts but make sure that there is not a window nearby that could be broken and the door unlocked from the inside. Check out www.eminnetonka.com for advice on the best types of locks!

Lighting

1) Motion detecting lights are very effective and save energy rather than having exterior lights on for extending periods of time.

2) Interior lights on timers give you the ability to have lights come on when no one is home. This gives the appearance that someone is at home and deters the burglar.

Hopefully this list will come in handy and provide some guidance on home security.

For more information please feel free to call or email me at 612-865-9150 or cherikuhn@watersrealtymn.com. You can also visit my website for up to date real estate info and listings at www.watersrealtymn.com.

Technology and Real Estate

Technology is one of the fastest growing business segments today.  Real Estate technology is fast paced and having a Realtor who understands technology even if you do not use it yourself is very important!  Technology today plays a huge role in marketing your property with everything from pictures to the internet.  Consumers are becoming more and more adept at searching for home on the internet and are demanding more and more service.  Being update with technology is an essential to the real estate world. 

Luckily I happen to love technology.  I was one of first to get an iphone and I love it.  The most recent trend which is really exciting and started on the west coast is shooting videos of listing and posting them on the internet.  The video is a much higher caliber and more professional than the traditional virtual tour.  Video tours offer seamless coverage with voice over which enables your Realtor to descibe features of the home as they are being filmed.   Most computers can play the videos using a already installed flash player.  In addition the video can be played and sent to customers who do not live in the area giving them more of a real life walk through of the home!

Although technology can be scary for some people and thrilling for others, having a Realtor who can navigate it is essential!  If you have questions or would like more information please feel free to email Cheri at cherikuhn@watersrealtymn.com or Jody at jodythorpe@watersrealtymn.com.  As always please feel free to visit our website at www.watersrealtymn.com for listings, open houses, and market data!