We Buy Ugly Houses Twin Cities

HomeVestors is the #1 buyer of houses in the U.S. If you are looking to sell your Minneapolis house now, contact us and see why we are the best. Call to show us your ugly house today! [phone]

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Should I Sell my House to Get Out of Debt?

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Should I Sell My Twin Cities Home to Get Out of Debt?

Feeling crushed by debt payments? You’re not alone. Today, Americans are dangerously close to having more debt than ever before. Total household debt rose to $12.6 trillion this year, according to a new report from the Federal Reserve Bank of New York. Most of that debt is in the form of mortgages.

But there is a way out. Imagine selling your home, downsizing to a mortgage payment you can afford, and having enough cash left over to pay off your debts. Nearly a quarter Americans are debt-free, according to a survey from CreditCards.com. You can be, too. Here’s how.

Twin Cities Homeowners Selling House to Pay Off Debts

Today, the average American has $45,790 in debts. Most of that is mortgage debt, at $31,690 per person. The amount of your mortgage debt can determine whether it makes sense to sell your house in order to pay off debts.

If you intend to sell your house and rent, then you’ll need to find a rental at a more affordable price than your mortgage payment. The average rent in Minneapolis-St. Paul is $1595, according to real estate website Zillow. At current interest rates, that’s the equivalent of a mortgage payment for a $335,000 house.

How to Sell Your Twin Cities Home Fast (Without the Stress)

Even under the best circumstances, selling your home can be incredibly stressful. But when you’re trying to sell your house to pay off debt, you face added pressure from collectors. The faster you can sell your home and eliminate the stress, the better.

Here are the five most important steps to selling your home quickly:

Clean it up. Put as many of your belongings in storage as possible. Give away or sell absolutely everything you don’t want anymore, and use the extra money to help chip away at your debt.

Fix it up. Give everything a fresh coat of paint. Replace the carpet if you can, or at least rent a steam cleaner and scrub out as many spots as possible. Go through every room of your house and fix every little thing that needs to be fixed: scratches, squeaky hinges, loose doorknobs, and so on.

Snap some attractive photos. Home shoppers will decide whether or not they’re interested in your home largely based on the pictures. This is no time for blurry cell phone photos. Hire a professional (the cheapest one you can find, if you have to) or see if anyone in your circle of friends or family has a professional camera.

Price it to sell. Remember, it doesn’t really matter what you paid for your home, or how much the neighbors got for selling their house. What matters is how much money a buyer is willing to pay for your particular house right now. An experienced real estate agent may be able to help you settle on a price to help sell your home quickly.

To save even more time and money, contact HomeVestors. HomeVestors can give you a cash offer on your Minneapolis-St. Paul home right away. Plus, you can sell your house as-is, without worrying about painting, cleaning, fixing anything or hiring a real estate agent. Find out how you can sell your house for cash, pay off your debts, and get rid of the stress for good with HomeVestors.

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When Insurance Doesn't Cover Roof Leaks

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Will Insurance Cover Roof Leaks in Your Twin Cities Home?

Your roof is your home’s first line of defense against the elements. But no roof lasts forever, and over the years it will start to fail. In time, even the tiniest leak can let in enough water to cause thousands of dollars in damage to your Twin Cities home. Will your insurance pay for the repairs, or will the expenses come out of your own pocket? The answer might surprise you.

My Roof Is Leaking. Is It Covered by Insurance?

Does homeowners insurance cover roof leaks? That depends where the leak came from. Just because a storm damages your roof doesn’t necessarily mean that insurance will cover the damage.

Homeowners insurance generally only covers damage from unexpected sources. For example, if a tree is knocked over by a powerful storm and it strikes your roof, the damage would likely be covered by homeowners insurance.

On the other hand, any damage that can be traced back to a maintenance issue generally won’t be covered. If your roof springs a leak during the storm because of advanced age, homeowners insurance probably wouldn’t cover the damage from the leak.

Find out ahead of time whether your insurance will cover the cost of repairing a roof leak. Before anything goes wrong, consult your homeowners’ insurance policy and find out what’s covered (and what’s not).

Most Expensive Twin Cities Roof Leak: $4 Million

If you think your roof leak is bad, it could be worse. The Minnesota Vikings’ new downtown Minneapolis stadium opened to the public in 2016, but it had already sprung an expensive roof leak. Even before the 66,200-seat building opened its doors, water leaks were an ongoing problem. Rainwater puddles gathered in one of the concourses, a storage area, and a women’s restroom. The general contractor said that the $1.1 billion stadium would require up to $4 million in repairs, making it one of the most expensive roof repairs in Twin Cities history.

3 Things You Can Do About Roof Damage:

As soon as you notice a roof leak, contact your insurance company to see whether you can file a claim. Many insurers now allow you to file a claim by phone, online, or through a smartphone app.

Before you make any repairs, document the damage. Take photos and video of all affected areas, and include measurements where possible. Save all of your receipts.

If you decide to hire help, be aware of contractor scams. Check the reputation of any Twin Cities roofing business before signing a contract. Don’t make any payments until after the job is complete.

Better to Repair the Roof or Sell the House?

The bad news is that one little roof leak could drain your wallet. Even after the roof is replaced, the costs can continue to pile up. That’s because roof leaks often lead to mold growth and even structural damage. The average homeowner spends about $7,500 for professional mold remediation, and structural repairs can add thousands of dollars on top of that.

If your insurance won’t cover the damage from a roof leak, you may be better off selling your house as-is. Forget about the leaky roof and find out how you can get a cash offer from HomeVestors to buy your Twin Cities home.

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Mortgage Default Rate in Minnesota

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Mortgage Default Rates in Minnesota

Every day, thousands of Twin Cities homeowners face foreclosure. While average mortgage default rates are dropping nationwide, some cities are seeing a worrisome increase. If you’ve missed a mortgage payment, you need to act now, before your mortgage goes into default.

Is It Mortgage Delinquency, Mortgage Default, or Foreclosure?

Missing a mortgage payment doesn’t automatically send your home into foreclosure. A couple of other stages come first: mortgage delinquency and mortgage default.

Your mortgage becomes delinquent when your payment is late, even by a single day. Many lenders allow a grace period of 15 to 30 days before adding a late payment fee. After that, the lender will notify the credit bureaus of your mortgage delinquency.

After several late payments (typically three), your mortgage will go into default. At that point, you should receive legal notice that the lender will begin foreclosure proceedings unless you pay off the late balance. If you can get completely caught up on the mortgage, including paying any legal fees, you can avoid any further trouble. Otherwise, your home will go into foreclosure.

Minnesota: Among the Lowest Foreclosure Rates in the Nation

Nationwide, one in every 75 mortgages is at least 30 days late, according to new data from the federal government. There are nearly 2.4 million homes in the state of Minnesota, but they’re far less likely to be in foreclosure than the rest of the nation.

One in every 6,071 Minnesota homes is in foreclosure, according to ATTOM Data Solutions, a firm that tracks foreclosures. That’s a drop of 35% since May 2017. Out of the 50 states, Minnesota ranks #45 in foreclosure rates. Only Vermont, Montana, West Virginia, North Dakota, and South Dakota have lower foreclosure rates.

Twin Cities homeowners are also 70% less likely to be in foreclosure than the average American. Nationwide, one in every 1,806 housing units is currently in foreclosure.

Mortgage Default Rates Dropping Across the U.S.

In July 2017, the nationwide mortgage default rate was near its lowest point in the past decade, according to data from S&P/Experian Consumer Credit Default Indices.

In July, the default rate for first mortgages was only 0.62 percent. The rate has been hovering around one percent since 2015, and it’s far lower than the five-to-six percent range seen during the worst of the housing crisis in 2009 and 2010.

Top 5 Mortgage Default Rates by State

The rate of mortgage default varies widely from one city to the next. The rates for July 2017, ranked largest to smallest, indicate that South Florida leads the nation in mortgage defaults.

Miami, Florida: 1.23%

Chicago, Illinois: 0.90%

New York, New York: 0.82%

Dallas, Texas: 0.77%

Los Angeles, California: 0.63%

Facing Mortgage Default? Sell Your Twin Cities Home for Cash

If your mortgage is in danger of going into default, or even if it’s already in default, remember that you have other options. Many homeowners feel like they just can’t afford to make their mortgage payments. They also don’t have the time or money fix up the home and list it for sale.

But you don’t have to let your home go into foreclosure. You may be able to sell your house quickly, as-is, without making any repairs. Find out how HomeVestors can help you get out of mortgage default and sell your Twin Cities home for cash.

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Can an Executor Sell a House without Beneficiaries Approving it in Minnesota?

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Can an Executor Sell a House Without Beneficiaries Approving it in the Twin Cities?

Executors serve many roles in the estate planning and probate process. They ensure that all estate assets are managed and protected while overseeing their distribution to beneficiaries. Selling a house within an estate without the approval of beneficiaries is an issue that can arise during the probate process. Executors in the Twin Cities must follow Minnesota estate laws when selling real estate property, and there are many reasons why a home may need to be sold. Meeting the needs of the estate while following the terms outlined in a will are essential to protecting an estate and making sure that beneficiaries receive their distributions.

The Role of an Executor in the Twin Cities

Executors are responsible for overseeing the distribution of assets after a person has died. The executor must have legal authorization to administer the estate and fulfill the necessary responsibilities.

Twin Cities executors must make sure that creditors are paid if there are outstanding debts while gathering all assets and documents needed to administer the estate. The assets of an estate are distributed to beneficiaries after expenses, taxes, and outstanding debts are paid. Also, executors must notify beneficiaries prior to the distribution of assets as well as document account for the estate property.

The executor must close the estate once its administration is complete. The time required to complete its execution will vary, and having to sell a house can add to its length and complexity.

Selling a Twin Cities Home

Executors may need to sell a home in an estate for a variety of reasons. If there aren’t enough financial resources available to pay off any debts or cover probate costs, a house may be liquidated without the approval of its beneficiaries.

In other cases, decedents may choose to leave a home to more than one family member. Selling the home allows the asset to be distributed among multiple beneficiaries when the property is the primary asset in an estate.

Executors must have the property appraised while obtaining approval from the courts before selling a house. Once they have received confirmation, the house can be sold by the executors.

Selling a Home

Executors must ensure that the house and all other items in the estate be fully protected. This is especially important in cases where family members and other beneficiaries disagree on the asset distribution. Executors have the right to remove any personal belongings from inside the home in order to protect them from damages or theft.

They must create an inventory of the household items for reference, and the estate’s beneficiaries are entitled to a copy when a request is made. Following these and other guidelines allows executors to sell a home in the Twin Cities when necessary. But selling a home presents an additional set of challenges that can impact the estate.

In the end, the executor can indeed sell a home without the consent of beneficiaries. But, this can cause a rift between the executor and beneficiaries even when selling is in the beneficiaries best interests.

Selling a home to Homevestors makes the process quick and easy. Homevestors purchases Twin Cities homes for cash regardless of their condition. Selling a home “as is” to Homevestors can be a solution for executors when they need to liquidating real estate property and maximize the distributions for its beneficiaries.

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What to Consider When Moving Your Aging Parents Out of Their House

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What to Consider When Moving Your Aging Parents Out of Their House in the Twin Cities

Caring for aging parents may require adult children to move them out of their home. Although this can be a step in providing them with greater security and comfort, it can also be a source of worry and stress.

Knowing what to consider when moving your parents out of their Twin Cities house makes the process easier for everyone. Here are some tips to help you determine the best options for you and your parents.

Planning in Advance

There are many reasons why aging parents need to move out of their homes. In many cases, cognitive issues interfere with their ability to take care of themselves. This makes it difficult for parents to manage their everyday affairs, and adult children must step in and ensure that their parents have the support they need.

Other medical conditions and factors that affect their independence may require them to move to an assisted living facility or nursing home. Knowing when it’s time for parents to move is an important step in the process.

Talking to Aging Parents About Moving

Having an honest discussion about your parents’ living arrangements gives parents the peace of mind in knowing that they have a support system in place. Adult children must listen to the needs and preferences of their parents and keep those in mind when planning their move.

Communication should be ongoing, as each phase of a move can present new challenges that you’ll need to address. Parents should consider all of their options for a new home, and children and their siblings need to determine the level of care that will be needed after they move.

Creating a Moving Plan for Aging Parents

Your parents’ new home should accommodate their daily activities. These include personal care, eating, and physical activity needs.

Adult children should also be aware of their own ability to assist their parents before during and after their move. Coordinating the move with siblings prevents complications and makes the transition easier for parents.

Other services in the Twin Cities include in-home care, meal deliveries, and social events. Make a note of nearby resources that can help you plan activities for your parents in their new location.

Selling Their Home

Many aging parents and their families choose to sell their home after a move. Although it can be a difficult decision to make, it can provide additional financial security for parents. But selling a home can be an overwhelming process, and parents are often unable to handle a home sale on their own.

There are many options that adult children can take in selling their aging parents’ home. Selling your home “as is” for cash can be one of the best ways to sell a home. Traditional home selling requires you to invest a lot of time while costing you money in realtor commissions, home upgrades, and other factors.

Homevestors buys homes in the Twin Cities and surrounding areas for cash. They help homeowners looking to sell their homes quickly and easily. For adult children who are moving their aging parents out of their house, selling a home through Homevestors provides the convenience and security that your family needs.

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When Insurance Doesn't Cover Flood Damage to Your Home

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When Insurance Doesn’t Cover Flood Damage to Your Home in The Twin Cities

In the Twin Cities, the two leading causes of flood disasters are usually rainfall and snow melt. As a result, The Federal Emergency Management Agency (FEMA) has notified many homeowners that they are required to buy flood coverage. The urgency is so great, that FEMA also has told all Minnesota homeowners to gather risk assessments themselves. If you’re a homeowner in the Twin Cities, it’s critical that you have a thorough knowledge of how your homeowner’s insurance relates to flood insurance coverage overall.

Flooding in Minnesota

In 2011, they were 439 flood claims in Minnesota. In fact, according to the Minnesota Board of Water and Soil Resources, flooding is the most pressing threat facing state residents. Throughout the state high-risk flood zones abound, affecting residents from St. Paul to Duluth. FEMA’s maps show that 494 areas in Minneapolis are “100-year flood” risk regions.

Flood Insurance Coverage

In terms of flood insurance, the most important thing to know is that your homeowner’s insurance policy will not cover flood damage. The National Flood Insurance Program, NFIP, requires certain areas to have flood insurance.

To purchase flood insurance, your area has to be situated on a FEMA map of high-risk flood regions. If your area is not on a FEMA map, you can purchase flood insurance coverage if your community participates in the NFIP. You can buy insurance through a private insurer who can underwrite your coverage

FEMA regulated flood insurance has policies that cover your home as well as your personal belongings. Coverage for your property typically protects the physical structure of the home, the foundation of the home, plumbing and electrical systems, as well as central air and heating systems. Also, attached bookcases, cabinets, paneling, and detached garages, are covered.

For personal belongings and other contents of the home, coverage includes clothing, furniture, electronics, curtains, and some valuables.

The maximum coverage limit for a home is $250,000. For private belongings within the home, it is $100,000.

Costs

Coverage premiums largely depend on the location of your property. Typically Minnesota flood insurance is only several hundred dollars per year. In high-risk areas where insurance is mandated by FEMA, premiums can cost more.

Insurance will cover your house as well as the things inside the house to a specific limit, but in many cases, you may also have to buy separate coverage to protect against the possibility of a total loss of your home.

Has your home been ravaged by flooding? If so, you may feel overwhelmed or unsure of next steps. In many cases, it can be in your best interest to walk away, selling the house as quickly as possible. Should you take this route, contact Homevestors. We’ll buy the house with cash, as is, regardless of the extent of flood damage. You’ll be able to move on to purchasing your next home, cash in hand.

Contact Homevestors today to learn more about we help homeowners in the wake of devastating floods.

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Summer Maintenance Tips to Get Top Dollar for Your Home in Minneapolis–Saint Paul

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If you’re trying to sell your home in Minneapolis-St Paul this summer, it’s not enough that your home looks it’s best. It has to look spectacular.

With a summer open house, everything on your property is on full display, so it has to be in the best possible shape. Your goal is to have an open house where your home presents itself so beautifully that it practically sells itself.

Here are some tips to help get you moving in that direction:

The Exterior

Your home’s exterior is the first thing potential buyers will notice. Curb appeal is usually one of the most important factors influencing a buyer’s decision – first impressions are everything.

Clear gutters and drains of all dead leaves and debris. If necessary make sure that the gutters are the secured to the wall

If the outside of your home hasn’t been painted for some time, now the time to do so

Landscape and manicure all lawn areas and shrubbery

Update, clean, and make any repairs to the front garden and patio areas

Flora and Fauna: Add as many plants and planters as you feel could help enhance curb appeal. Summer flowering plants and hanging baskets can brighten up the entrance to your home tremendously

Check all garden furniture for any sides of molding or rotting. Repair, repaint, and varnish where needed

The Interior

If the interior of your home hasn’t been updated for some time, you should consider having the home professionally “staged.” A professional “stager” will temporarily re-decorate the home with contemporary furnishings to enhance the interior to make it as neutral as possible.

Staging de-personalizes your home so that it becomes more appealing to the potential buyer. The sentimental value we attach to possessions, such as our favorite worn-in Lazy Boy, may not be as attractive to the uninitiated. You may look with great fondness at all of the entryways adorned with Fido’s lovable scratch marks, but to your potential buyer, they’ll most likely be nothing more than eyesores.

Staging can be costly, but it’s a worthy investment if you are serious about getting top dollar for your home in Minneapolis-St. Paul.

Clean Everything

Make sure to remove any and all clutter that takes away from the essential character of your home.

Make an assessment of anything in the house that needs cleaning, washing, or flat out removal.

If carpets need to be replaced, now’s the time. Wash all walls and ceilings, even if they don’t look like they need it. The home should be a clean slate by the day of the first open house.

Prepare for The Open House

For the open house, your house has to be spotless. Pay particular attention to the bathrooms. Add air fresheners to add that extra little touch of freshness. Since it is summer, turn the air conditioning on. Make sure the temperature is comfortable enough for guests, and point out the fact that the air conditioning is in fine working order. Decorate the home liberally with fresh flowers, and make sure the lighting presents your home the best way possible.

All of these tips will help to ensure that your home has the best chance of getting the potential buyer to put down an offer. If you’d rather spare yourself the hassle and costs of these summer preparations, you can always turn to We Buy Ugly Houses. We’ll buy your house outright, with cash, with no added fees or commissions.

Contact the summer home-selling specialists at We Buy Ugly Houses today.

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Housing Inventory in Minneapolis–Saint Paul

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It’s June in the Twin Cities, and even though that means plenty of time out at the Lake house, it’s also the when the region’s real estate market goes into high gear. Like most of the country, the Twin Cities has seen a significant surge in the housing data charts when it comes to sales. But, the growth of the market also means there’s a lack of inventory.

We’re experiencing a drought when it comes to available houses. The market overall is trending upwards since the great crash of 2008, but this comes at a price. With low inventory, there’s a decrease in available and affordable homes.

Here’s what recent housing inventory data shows for Minneapolis – St. Paul:

Before the housing market crash a decade ago, there were usually more than 20,000 homes for sale at any time in the Minneapolis- St. Paul area. By 2016 however, available homes fell to between 11,000 and 15,000 at any time. Most forecasts show that this will continue through 2017.

In the Twin Cities’13 County regions, 60,000 homes were sold last year. In December 2016, the median sale price was $229,000, which is up from $220,000 from December of 2015. In December 2016, homes that were priced under $200,000 accounted for 1/4th of the housing market’s inventory, with almost 40% of the sales. Houses that were priced between $200,000 and $400,000 constituted 40% of the homes on the market, but only half of sales.

Increased sales prices as a result of low inventory can cut first-time homebuyers out of the market, who generally can’t afford the higher prices. Only buyers with plenty of cash on hand, capable of making an offer on the spot have the best chances of landing a home.

If you’re looking for a starter home, you’re going to have to pay what would normally be the price for a premium level home. A huge pool of buyers is vying for the same homes. This causes bidding wars that raise prices far beyond what many can afford.

As recently as 2012, buyers looking to enter into homeownership could easily find a home at an affordable price. This is because they didn’t have to put as much of their income into making the purchase. Buyers only needed to use roughly 30% of their income to buy a median price starter home. Now, new homebuyers with modest budgets have to put almost 40% of their income into buying the same home.

This impacts sellers as well, especially those whose homes don’t fall into the “premium” tier of larger, newer homes. If you’re trying to sell a smaller home, your listing price will have to be lower than the current norms in the low-inventory/high competition market.

So, if you are a seller in Minneapolis-St. Paul and your home isn’t a mansion; you may have some difficulty selling. This Is Where We Buy Ugly Houses comes in. Regardless of inventory fluctuations, We Buy Ugly Houses will buy your house as is, hassle-free. Contact the real estate professionals, at We Buy Ugly Houses today to learn more.

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How Friendly is the Minneapolis–Saint Paul Housing Market to First-Time Home Buyers?

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Is the Minneapolis – St. Paul Housing Market Friendly to First-Time Home Buyers?

It’s been a long winter, and with the official start of summer here in Minneapolis – St. Paul, we’re jetting outdoors, whether to the lake, the State Fair, or to watch our division leading Twins (could this be the year?). With the height of the real season upon us, buyers will be looking for deals as well as Twins’ base steals. We wanted to know, if you’re a first-time buyer, how accommodating is the Twin Cities?

Buying Surge Amongst Millenials

In the US market overall, we’re in the midst of a buying rush, especially amongst millennials. They’re at the point where they’re getting ready to lay down some roots, transitioning from renting to owning. Down payment is always a hurdle, but this season, there are some other factors they’ll be contending with as well. For this generation of buyers, things like student debt, a changing job market, and an uncertain future in terms of income will factor into buying decision.

Location

A newly released Zillow study assessed the markets that would be the most “friendly” for first time buyers whether they’re millennials or otherwise. From what they found, it’s all going to come down to location, with cities that have lowest prices and highest inventory (less competition) being among the most important factors.

According to the Zillow study, the Twin Cities don’t make the shirt list for the best for first timers. For them, the best cities in which to buy are in the South. Here are the top five:

Memphis, TN

Oklahoma City, OK

Orlando, FL (very high inventory compared with the actual number of households, so less competition)

Tampa, FL

Jacksonville, FL

In making their assessment of major metropolitan areas in the US, they looked at 5 factors that make some cities better than others for first time buyers:

Median home value

Forecasts for growth in Equity

Inventory

Listings with price cuts

Timeline for when an owner would break even for buying over renting.

Here’s where we stand in Minneapolis – St. Paul:

Metro Size Rank: 16

Homebuyer index: 2.6

Inventory: 9101

Price Forecast: 3.5

Listings with Price Cut: 12.7

Home Value: $241,900

For comparison, here’s how it looks for Jacksonville, coming in at one of the best markets for first-time buyers in the Zillow study.

Metro Size Rank: 40

Homebuyer index: 7.4

Inventory: 7752

Price Forecast: 3.0%

Listings with Price Cut: 15.1%

Home Value; $179,100

With a “homebuyer index” of 2.6%, the Twin Cities isn’t a terrible option for new homeowners, but it isn’t one of the best. With recent trends towards telecommuting and remote work agreements,

The new workforce is highly mobile. If they find a better deal outside of our area, relocating isn’t out of the question.

Sellers, take note. The Minneapolis – St. Paul area lags behind other major housing markets for attracting new buyers. This may stretch out the time your home sits on the market, which almost always leads to a lower closing price.  When you need to sell quickly, look to We Buy Ugly Houses. With a cash buyout, our real estate experts will take the home off your hands in a matter of days regardless of inventory, median value or any other factor that might get in the way of selling your home. Contact We Buy Ugly Houses today to learn more.

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Are Homes in Minneapolis–Saint Paul Worth Less Than Before the Housing Market Crash?

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Are Minneapolis/St. Paul Homes Worth Less Than Before the Housing Market Crash?

After a long winter, summer’s finally arrived. And as the days get longer, the real estate season is going to get hotter here in the Twin Cities. Buyers and sellers will be prepping for the high mark of the home buying and selling year, and for both, it’s a usually a time of great anticipation. Recent statistics, however, may curb the enthusiasm this year. It may be warmer here in the Twin Cities, but will this real estate season be as bright as a Minnesota summer day?

This year, we’re past the ten-year mark since the beginning of the great recession and the subsequent housing market crash. But when it comes housing valuation, Minneapolis and St. Paul still haven’t completely recovered from the housing market crash. Average prices are still around 12% lower than they were at the high mark in April of 2006. Contrary to what many may think, we aren’t in the midst of another housing bubble.

Many Suburban multi-level houses from the 1990s that haven’t been renovated are experiencing a type of mini-recession, recalling the difficult times a decade ago. Sellers of these homes are having to slash the prices just to get buyers through the door.

Furthermore, more expensive homes, especially those priced around $350,000 and higher, have been-been extremely hard to sell. For homes at this higher end of the price point, the pool of potential buyers has shrunk dramatically. These homes tend to stay on the market longer, with value increasing at slower rate. In June of 2016, the last month of available data, Home priced between $250000 and $350,000 saw a nearly 20% increase in sales. However, a house priced over $1,000,000 only jumped around 10%. Many homeowners who are lucky enough to have these high-end homes are having to lower their asking price significantly. Many are even taking their houses off the market altogether.

Devaluation Nationwide

Throughout the country, there is an overall devaluation in housing. Contrary to popular belief, home value has remained stagnant despite the ten years that have passed since housing market crash.

Trulia, the online real estate valuation site recently released a new study citing data that less than 35% percent of US homes are valued the same or higher than at the height of the crash.

If you’re trying to sell a home in Minneapolis, you should take these findings to heart. You may have a harder time selling than you think. With stagnant valuation, you may decide to take your home off the market, holding off until things improve. You do however have somewhere to turn if have to sell quickly – We Buy Ugly Houses. With a cash buyout, our real estate experts will take the home off your hands in a matter of days, allowing you to move forward regardless of local or national trends in home value. Contact We Buy Ugly Houses today to learn more about how you can sell your home quickly.

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New Post has been published on We Buy Ugly Houses Twin Cities

New Post has been published on http://www.webuyuglyhousestwincities.com/will-the-housing-boom-leave-the-twin-cities-behind/

Will The Housing Boom Leave The Twin Cities Behind?

The housing market in The Twin Cities is booming. But this isn’t true for all areas, or for all sellers

No Boom Here: East Phillips

The main issue stunting my growth of resale value in East Phillips is the crime. With over 1,600 violent crimes in 2016, the area has not been passed over by the new market boom. Speculators are often interested in these areas, as urban sprawl necessitates the development of new markets. But, there are no signs on the horizon that the East Phillips neighborhood will fall into this category anytime soon.

On average, homes in East Phillips are selling for around $103,000. Comparable homes in other neighborhoods can average in the $200,000 area. As a result, there’s going to be a significant difference between asking and closing prices. Add to this the lack of interest from buyers, and you have a neighborhood that is, in essence, a gaping hole in the Twin Cities real estate boom.

Problems With Higher Priced Homes

In spite of the overall growth, more expensive homes, especially those that are priced at $350,000 and higher, have been harder to sell. Interested buyers are smaller in number, and the homes tend to stay on the market longer, with value increasing a slower rate. In June of 2016, last month of available data, homes priced between $250,000 and $350,000 saw a nearly 20% increase in sales. However, a house priced over $1,000,000 only jumped around 10%. Many homeowners lucky enough to be in this latter category are seeing numerous price reductions. Some are even getting so frustrated that they are taking their houses off the market.

One reason for this, according to many real estate agents, is the fact that as more millennials settle down, they are buying starter homes near their jobs and with “hipper” amenities. Also, baby boomers are looking to sell their sprawling suburban homes four simpler abodes, such as condos in areas with more “livability,” such as shopping restaurants parks and transportation.

Perhaps most interestingly, there is a sub-niche within the high-end home niche that is being particularly affected. Many suburban multi-level houses from the 1990s that have not been renovated experiencing a type of mini recession within an overall market that is far from the recession. Sellers with such homes have to slash the prices just to get buyers through the door.

If you’re a seller in East Phillips, or at the complete opposite end of the economic spectrum, it may be time to start thinking about the best way to sell your home fast. Consider selling the home outright to the real estate professionals at We Buy Ugly Houses. We’ll give you cash for your house, regardless of location or market trends. To learn more, visit www.webuyuglyhouses.com today.

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New Post has been published on http://www.webuyuglyhousestwincities.com/how-a-double-yellow-line-makes-it-harder-to-sell-your-house-in-the-twin-cities/

How A Double Yellow Line Makes It Harder To Sell Your House In the Twin Cities

photo credit

If you’re trying to sell a home that’s on a busy road or near an area of high traffic density, your chances of selling quickly are going to be tough. In fact, the proximity of your home to a roadway could decrease its resale value as much as 15%. Home sellers in The Twin Cities should be aware of some of the issues that can affect their ability to sell quickly.

Homes near dangerous intersections

Homes adjacent to busy intersections are especially at risk in terms of decreased resale value. Of all the major intersections in The Twin Cities, the most infamous is at East 35th and East 31st Street along Interstate 35 W. This intersection has seen numerous car wrecks, injuries, and fatalities. These kinds of dangerous junctions, whether urban or rural, will give pause to buyers.

Freeways

One of the biggest problems of highways in The Twin Cities is the preponderance of what engineers call “weaving lanes.” These are on and off ramps where drivers are forced to rapidly speed up and slow down to merge onto the highway. The hazards of these thruways aren’t the only problems for motivating buyers. They’re also sources of noise pollution and are eyesores.

Other problem areas: Two lane roads

The resale value of your home will, in almost all cases, decrease significantly if it’s on an access road. Even of the road is out-of-the-way; the risks of cars passing each other can be a concern for buyers. Also, on more secluded roads where there is less traffic enforcement, drivers have a tendency to go past the speed limit. Haven’t we all done it?

Construction and Repaving

In areas of high traffic density, construction projects are inevitably going to be an ongoing problem. As we’ve all experienced, these bottlenecks can make getting to where you need to go maddening process, to say the least. Furthermore, they’ll almost always continue beyond the projected completion date, interminably aggravating our attempts to get home. If there’s a construction project causing tie-ups near your house, you should consider delaying the listing until after the roadwork has been finished.

In general, roads of a larger magnitude are potentially hazardous to your property and family, especially with children playing outside. Busy intersections and freeways aren’t necessarily deal breakers, but sellers need to consider the effect they could have on their closing price. The ease of access they can provide isn’t always a selling point.

In many cases when you’re trying to sell a home quickly near busy intersections, highways or long construction projects, your best move may just be to sell the house outright with a cash buyout to We Buy Ugly Houses. We understand the difficulties involved in the sale of a house near such high-traffic areas and can guide you in selling your home within a matter of days. Contact We Buy Ugly Houses today for a free consultation.

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New Post has been published on We Buy Ugly Houses Twin Cities

New Post has been published on http://www.webuyuglyhousestwincities.com/fido-taking-thousands-of-dollars-off-home-value-in-twin-cities/

How Fido Is Taking Thousands Of Dollars Off Your Home Value In The Twin Cities

photo credit

Here in The Twin Cities, we love our husky pups. Our German Shepherds, Labs, and Bulldogs are constant companions whether we’re shoveling snow or when we’re out at the lake house. But, when it comes time to sell that lake house or any house inhabited by a pup for that matter, you aren’t likely to get top dollar unless you take some extra measures to remove any damage caused by your hound.

Pets and Value

More and more, it’s becoming clear that having a pet can severely impact the resale value of your home. In fact, having a pet can be a positive liability when it comes time to list your property.

According to a British study conducted in 2011, pets can cause approximately $1100 worth of home damage a year. Now if you’ve been taking care to repair any pooch –related harm, you’ll be in a much better position compared to those home sellers that haven’t. But even if you have been taking care of the yearly hound-damage, you could see a decrease in your final sale price of almost $30,000 just because of the fact that your canine companion occupied your house.

So, when you’re putting your house on the market as a pet owner in the Twin Cities, here’s a bit of advice.

You’re going to have to some major cleaning. The first thing you’re going to have to take care of is the unavoidable odor that’s associated with any dog. As the pet owner, you may have gotten used to it after all the years, but know that for a buyer entering the home for the first time, that smell will be unavoidable.

That’s why you have to have the entire home cleaned by a professional cleaning company. All floors, carpeting, and upholstery have to be deep cleaned to remove all the funky smell and any dander that’s accumulated over the years. It wouldn’t hurt to have the cleaning company come back for a second round. Even in a situation where there isn’t a dog, one of the main things that turn buyers off is smell. If you’re a pet owner, any chance you have to sell hinges on your ability to make sure there isn’t any.

Fix Everything

Any scratched doorposts; windows and trim need to be repaired. Are the walls covered with paw marks? You’re going to have to paint. Any damage to the yard has to be addressed – all the holes in the lawn dug by Fido need to be filed. Essentially, you need to get the house looking like it had never been home to an animal.

Walk Away

In many cases, your best move may be to sell the house as quickly as possible, take your pooch and move on. You may just decide that there’s just too much working against you as a pet owner trying to sell. At We Buy Ugly Houses, we’ll purchase your house outright, with cash, so you don’t have to spend weeks or months getting your house back to its pre-Fido days.

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The 5 Most Common Home Safety Hazards in the Twin Cities

Your home should provide you and your family with physical security. However, it’s possible that there are safety hazards lurking inside your home. Below, we go over some of the most common causes of injury in the home along with steps you can take to protect yourself.

Falling

According to the Home Safety Council, falls account for more than 40% of nonfatal injuries that occur within the home and more than a third of home injury deaths.  Like many other hazards falls tend to be worse for children and the elderly, but anyone can be injured due to a fall.

As you might expect, there are some places in the home where falls occur more often. Places like the shower and the top of stairs. Windows lacking window guards can also lead to injury or death due to falls. Another common culprit is the ice and snow that can accumulate near houses.

When it comes to preventing people in your home from falling, you want to be as cautious as possible. Shovel driveways and sidewalks as soon as possible and try to keep your floor clear of debris.

Lead poisoning

Lead poisoning is a serious issue that can cause brain damage and organ failure. While contemporary home builders understand the dangers of lead, many older homes had lead used in their construction. Homes built before 1986 may contain lead pipes and lead paint on the walls. Left alone, the presence of lead in a home can’t cause any injury to occupants in and of itself. The problem is that both pipes and paint can degrade over time.

If a lead pipe corrodes, this can deposit small amounts of lead into your drinking water. When lead paint cracks and peels, it releases dust into the household which also contains lead. Even a small amount of lead that is ingested or inhaled can cause health issues.

The bad news is that you’ll need to have a blood test taken in order to confirm a case of lead poisoning. If you suspect that your home may have a lead problem, contact a licensed inspector to come out to your home ASAP.

Radon

Radon is a radioactive gas that can be present in homes as a result of the degradation of radioactive material in the soil. Radon is also the second leading cause of lung cancer behind smoking cigarettes. Unlike cigarette smoke, radon is nearly undetectable. Humans cannot smell, see, or tastes the gas, which means it’s possible unsafe levels can build up in your home without your knowledge.

Hiring an inspector or purchasing a simple radon detection kit can be used to determine if your home and its occupants are safe.

Carbon monoxide

Carbon monoxide is similar to radon in that it is a nearly undetectable gas. However, carbon monoxide is far more lethal than radon as it kills people much quicker. Even when nonlethal, carbon monoxide poison can cause headaches, flu-like symptoms, and even hallucinations. It has even been theorized that many ghost sightings within homes could be the result of mild CO poisoning.

To keep your home safe, avoid turning on any vehicles in an unopened garage as lethal levels of CO can build up quite quickly that way.  You should also place CO detectors next to any bedrooms in your house so that people can be alerted right away if the gas is detected.

Mold

Mold loves to find moist environments to grow and thrive in. Usually, this means mold grows outdoors where it actual plays a vital role in the planet’s ecosystem. However, if mold develops inside your home, then the best case scenario is that it becomes no more than an unsightly nuisance.  On the other hand, toxic mold can cause severe health problems. Unfortunately, and untrained eye can’t tell at a glance which type of mold is which, so your best bet is to keep any and all mold out of your house.

As stated, mold thrives in damp environments, so keep an eye out for any leaks inside your home.

If you’re trying to sell a house that has mold issues, consider getting a quote from We Buy Ugly Houses Twin Cities.

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Mini-Vacations to Take in the Twin Cities

Photo Courtesy Nora Eränpalo

If you’re lucky enough to live in an area as rich in cultural and natural attractions as the Twin Cities, the idea of getting out of town might seem unnecessary. But, we recommend you try to get out of the city every once in a while to explore the incredible destinations that are within a 1-5 hour drive. We’ve selected a few of the top destinations for enjoying a mini vacation in the great Minnesota outdoors this fall.  

Afton State Park

Distance from the Twin Cities: 30 miles, 40-minute drive

http://www.dnr.state.mn.us/state_parks/afton/index.html

Afton State Park is first on our list since it’s the closest to the Twin Cities. You could easily drive out to enjoy a full day of hiking, pack up, and head back to the Twin Cities for a late dinner. We recommend staying at least a night to explore the lush native prairie landscape, filled with pristine oak forests and serene lakeshores.

For lodging, check out the Historic Afton House Inn, or you can’t stay in the nearby City of Stillwater. If you do go with the Stillwater option, check out Smalley’s Caribbean Barbeque and Pirate Bar for some tasty jerk chicken and a few rounds of rum punch. Smalley’s serves up the perfect meal after a long day on the trails.

Taylors Falls

Distance from the Twin Cities: 54 miles, 1-hour drive

www.ci.taylors-falls.mn.us

https://www.facebook.com/WildMountainTFRecreation

Taylors Falls is another spot that’s so close to the city; there’s no excuse not to go, even if it’s just for a few hours on a Saturday afternoon. Taylors Falls is in Chisago County, on the St. Croix River, and has some of the best Rock climbing in the state.

The spectacular views of the river are well worth the trip, especially as we head into the next few weeks, when the forests will burst into their fiery hues.

Stay at The Lilac Village Bed & Breakfast, a beautiful place to unwind after your rock climbing and river ruckus.

Boundary Waters Canoe Area

Distance from the Twin Cities: 246 miles, 4-hour drive

http://www.fs.usda.gov/detail/superior/specialplaces/?cid=stelprdb5202169

If you’re an experienced outdoorsy type, then a camping trip to the boundary waters is for you. This is some serious wilderness, arguably the most rugged and raw in the upper Midwest. The boundary waters span most of the length of the border between Minnesota and Canada, and this is a magnificent time to plan an expedition. You have to know what you’re doing up here – the deeper you go, the more isolated it becomes. But if you’re a camping pro, the rewards are great, with some of the best fishing in the state. One of the best things about the boundary waters is that there are no motorized boats allowed – it’s just you and your canoe. So remember to bring plenty of DEET and a thick sleeping bag – this time of year it can get pretty chilly at night.

These getaways are perfect for the whole family, couples, or going solo. With the beautiful Minnesota autumn just weeks away, now’s the time to start planning your next Twin Cities mini-vacation!

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Top Employers in the Twin Cities and How They Affect Real Estate

Photo Courtesy Tony Webster

When it comes to real estate, the economy plays large role in determining home prices. Since you can’t have an economy without employment, we figured it would be interesting to find out who the top employers in the Twin Cities are and what effects they might have on home values. The data used to determine the biggest employers was sourced from CareerOneStop.

1. University of Minnesota – Twin Cities

With campuses in both Minneapolis and St. Paul (just 3 miles apart), the University of Minnesota is a truly massive school. A total of 51,147 students gives it the honor of sixth largest main campus student body in the United States. Of course a university this big requires a massive amount of personnel to run efficiently. U of M employs approximately 18,000 people – making it not only the largest employer in the entire state of Minnesota.

2. 3M Company

Formerly known as the Minnesota Mining and Manufacturing Company, 3M is the largest employer in Saint Paul with an estimated 11,000 employees. While most people are probably familiar with 3M for the tape it makes, they are actually a massive multinational conglomerate that also specializes in laminates, fire protection, dental and orthodontic products, electronic materials, and medical products.

3. Target Stores Inc.

Headquartered in Minneapolis, Target employs around 10,000 people. The massive retailer opened its first store in Minnesota in 1962, and has since spread across the United States to every major city. Target has more than 1,700 stores across the country and 360,000 employees. While the typical Target retail store hires clerks and back room merchandise handlers, the corporate location in Minneapolis hires a large amount of account executives and marketing personnel.

4. Park Nicollet

Park Nicollet Health Services employ approximately 9,000, 8,200, and 8,000 people at their Pharmacy at Park Nicollet, Park Nicollet Methodist Hospital, and Park Nicollet Clinic locations in Minneapolis.  Park Nicollet provides award winning health care via a wide range of integrated health care services. Employment at Park Nicollet is wide-ranging, from janitors all the way to doctors.

With massive organizations that require labor in all capacities, it’s no surprise that the Twin Cities have an unemployment rate well below the national average of 5.1%. This rich local economy has given citizens the income necessary to purchase houses at high rate, decreasing supply and increasing prices. Home values have already appreciated 7.3% over the past year, and are forecast to increase even further over the course of the next year.

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2016 Labor Day Events in the Twin Cities

The days of summer are numbered, but there’s still plenty of fun to be had this Labor Day in the Twin Cities. As you start planning for the holiday weekend, here a few Labor Day events you should schedule into your weekend plans.

1. State Fair

One of the most popular events in the state over the holiday weekend is the Minnesota State Fair in St. Paul. It’s the second largest in the country, with generations of Minnesotans enjoying the games, deep-fried Twinkies, and classic carnival rides. Since this is Minnesota, you’ll also find plenty of farm and snow equipment displays. The kids will love the daily parades, and for a taste of some Minnesota culture, check out the events at the International Bazaar stage.

This year, the musical lineup is one of the best in recent years. The headliner on September 1st is the classic southern rock band, Alabama. You can also get your salsa on with “Salsa Del Soul” on the 1st on the “Bazaar after Dark” stage. On Labor Day, the legendary Bonnie Raitt headlines the Grandstand stage at 7:30 pm.

http://www.mnstatefair.org

  2. Hit the Trails

Minneapolis has some of the best bike trails in the country, and there’s no better time than the long Labor Day holiday to get out and enjoy all that these trails have to offer. In the Minneapolis/St. Paul area you can bike from Twins stadium all the way downtown along the Mississippi River into St. Paul. Some of our biker’s favorite trails start downtown and wind down to some of the city’s scenic urban lakes, such as Calhoun, Harriet, Cedar and Lake of the Isles.

Along the way, there are plenty of options for lunch and dinner. You can bike downtown and get lunch at Bewitched, a bistro with some incredible sandwiches with locally sourced ingredients, or, has some of the best pizza in town at Black Sheep Coal fired Pizza.

If your biking takes you into the evening hours, head down to Bar La Grassa or Restaurant Alma, some of the city’s finest restaurants downtown.

http://wwwdocs.minneapolismn.gov/bike/index.html

  3. Walker on the Green

The Walker Art Center is Minneapolis’ world-renowned art museum, showcasing some of the best collections in the country. This Labor Day, they’re continuing their tradition of an 18 hole miniature golf course, with each hole designed by a Minnesota artist. A fantastic event for the whole family, with free admission for children six and under and all tickets including admission to the museum itself. For adults, the event is on the pricey side, but it’s well worth it; a great way to get in some putt-putt while experiencing one of the Minny’s cultural treasures.

Walker Art Center

1750 Hennepin Avenue

Minneapolis, MN 55403

http://www.walkerart.org/calendar/2016/skyline-mini-golf

  So with Labor Day marking the official end of summer, the long holiday weekend is a great opportunity to stay in town and enjoy some of these fantastic events in the Twin Cities. Get out there before the Minnesota deep freeze starts to set in!