A Green Choice in Paint

Paint has been around for a long time. But when it comes to environmentally friendly paint, what choices do you have?

One company has come out with what they call a “premium quality, eco friendly latex paint.” This paint is made from suplus paint that’s collected at hazardous materials collection points. That means it’s not putting any more resources to create new paint, while keeping existing paint from being thrown out. At about $12 per gallon, it’s also not very expensive. They do have a limited range of colors, 12 to be exact. Visit them at: http://www.amazonpaint.com

What are Agency Relationships?

There is a term in real estate that describes what type of relationship a buyer or seller could have with an agent.  This term is agency.  Each state has different agency relationships, and Minnesota state law requires us to disclose the types of agency relationships that usually occur in our state.  This agency relationship form should be presented to you upon substantive contact with an agent.  You can download a copy in PDF format by clicking on the image to the right.

11 Must-Inspect Items During the Final Walk-Thru

You’re excited because you’ve agreed to buy the house of your dream, and you are about to sign the closing papers.  Before you sign, there is one last thing you should do:  The final walk-thru.  This should be done a day or two prior to closing so that any problems can be spotted before you sign that contract.

1. Start in the Kitchen.  If kitchen appliances are included with the sale, then you want to start your inspection in the kitchen.  This will give you time to operate the dishwasher while you’re inspecting the rest of the house.  You’ll also want to turn on the oven to determine that it works.
2. Test the Water Heater.  You can determine if hot water is being produced by checking the faucets.  You should also visually inspect all the connections, valves, and the tank itself for evidence of obvious leaks.
3. Ask about the Water Softener.  Question the homeowner regarding the usage of the water softener.  In addition, check the unit itself and all connections for obvious signs of leakage.
4. Electrical System.  Turn on and off all the light switches to make sure they all work.  Check all outlets.  
5. Swimming Pool Equipment.  Operate the pump and filter system to check for excessive noise, which may indicate leakage.  Check the water for clarity.  If  the water isn’t clear and bright, the unit may not operate properly.  Question the homeowner carefully on the operation.  
6. All Utilities Must Be Turned on for a Thorough and Proper Inspection.  
7. Basic Important Condition.  Is the property structure and its components in substantially the same condition as on the date of purchase?  (Check doors, windows, lawn, garage, etc.).
8. Furnace.  Is there warm air?  Is the blower working?
9. Air Conditioning.  Do not test when the weather is under 50° Fahrenheit.  Is there cool air blowing? 
10. Plumbing.  Check for leaky faucets, leaking under the sinks, etc.  Flush the toilets, check for stability and loose fittings.

Please Note:  Some. of the items on this checklist may have been performed by the inspector.  If this is the case, then you don’t have to repeat the process.

Wonderful Richfield Rambler

Here’s a house for sale that’s ready for you. Located in the heart of Richfield, this 4 bedroom / 2 bathroom rambler, updated and ready to move in. Desirable and picturesque Wood Lake Neighborhood. One block to Wood Lake Nature Center with walking and cross country ski trails, wildlife and educational nature programs. Private Well for watering lawn.

$8,000 Free Cash!!!

That should get your attention.  The government is giving cash to home buyers! Now, there are some stipulations, but if you meet the criteria, you can get $8,000!

This is part of the Economic Stimulus package that was signed into law this week by President Obama. First-time home buyers can claim an $8,000 tax credit on their tax return. A tax credit is different from a tax deduction in that a tax credit is basically money in your pocket. Let’s say that you owed $6,000 in tax liabilities but you had your employer take out $7,000. That means your normal refund would be $1,000. But if you were a first time home buyer, and if you made less than the income restrictions, you would gain an additional $8,000 in refund, making your total refund $9,000.  The article on CNNMoney.com was incorrect in the fact that the got the amount of the refund in this scenario wrong. They seem to have corrected it today.

The basics:

1. First time home buyer (not owning a home in the past 3 years)

2. Purchase a primary residence home between Jan 1, 2009 thru Nov 30, 2009.

3. Income restrictions to $75,000 for singles, $150,000 for married couples. Above these income restrictions, the dollar value is phased out.

With the low interest rates, the depressed housing prices, and now $8,000 of FREE MONEY, it’s a GREAT time to buying a home!

2 new listings

We’ve got 2 new listings in the same condo building. This building is a senior highrise for 55+ with lots of amenities. In addition to the usual party room, there is a dining room with commercial kitchen available, a game room, exercise room, beauty salon, woodshop with tools, 24-hour security, and more. Of the 2 listings, one is a 1 bedroom 1 bathroom unit on the 8th floor, while the other is a 2 bedroom 1 bathroom on the 2nd floor with a view of Woodlake Nature Center. You can find out more information on my website http://www.StevenHong.com

New Home Search Available

We’ve made some system changes to bring you the best home search on the market.  We welcome you to sign up for free and to look at houses on-line.  You can:

1. Save favorite homes
2. Reject properties
3. Take notes on individual houses
4. Send notes to significant others, spouses, and friends from within the system
5. Much more

Just sign up at http://StevenHong.ListingBook.com and see how powerful this search engine really is.  If you have any friends, relatives, or coworkers who are about to buy a home or who are thinking of buying a home, please have them contact me.  I would love to help them find their dream houses.

The Ideal Time to Buy

If you have been mulling over the idea of buying a house, you might want to stop mulling and start looking. We have discussed this in several past blog articles, and I hope I am preaching to the converted.

Now is the ideal time to buy a house. I am not mincing words because truly, there is no better time. Why am I so firm about this? For three reasons. One, the interest rate on mortgages is at a historic low. It’s been more than thirty years since we’ve seen interest rates this low. Obviously, this means that your monthly mortgage payments will be less as well, appreciably so. A house mortgage is good debt because a house is an investment which will appreciate over time. Granted, there times like these as well, but for the most part, houses gain value.

Two, the goverment is offering a first-time buyer tax credit worth up to $7.500 if you buy a house by July 1, 2009. If you are part of a married couple and buying a house together, you can get up to $15,000 in tax credit. The credit acts as a zero-interest loan as you have to repay the money over the years, but there is no interest. If you bought a new home after April 9, 2008, you also will want to look into this tax credit. The government is ready to place this money into your hands if you are ready to buy your first new home. Here is a website that comprehensively laws out the tax credit program.

Three, house prices are lower than they have been in the past several years. This is only logical in difficult economic times, and these are difficult straits, indeed. People are worried about their personal economy and don’t necessarily want to take risks on a big investment–even if it will benefit them in the end.

I feel so strongly about this that I am going to keep saying it. If you have any thoughts of buying a house within the next year or two, then time is really of the essence. This trifecta of perfect reasons to buy a house will not last forever.  Now is the time to act.  If you or anyone you know is thinking of buying a house, call me at (952) 915-2252 or e-mail me at  Steven@StevenHong.com so I can talk about it with you.

Top 10 Real Estate Agent Fears when Showing Houses

Which house is it?

10. Getting into a car accident on the way to a showing.

9. Running out of gas with a client in the car.

8. Getting lost on the way to meet clients at a house.

7. Not being able to distinguish one house from another.

6. Discovering that the house isn’t quite as the buyers imagined.

5. Finding no key in the lock box.

4. Using the bathroom, and find out that the water was turned off.

3. Setting off the house alarm and having the police show up.

2. Walking in on people that are sleeping, or using the bathroom, or that are naked.

1. Standing on a deck, opening the lock box, and dropping the key and watching it fall through the slats of the deck rendering it impossible to reach.

Not Exactly What I Had in Mind!

How You Search For Your Dream Home

How do people search for a new home?  I am a tech person, so I use technology for almost everything.  However, I realize that many people may not want three different maps of the houses on their wish list, nor want to look through a hundred ‘just for you’ houses that really may or may not just be for them.  They think in terms of how a house will support and bolster their way of life, and that is not something that the internet can measure.

If you are passionate about gardening, the backyard of your potential home is going to be very important to you.  If you love to cook, then you most likely want a kitchen that is updated, roomy, and has all the newest gadgets.  Likewise, if you are an inveterate reader, you’d probably like a sun room with plenty of natural light.

This is where I come in.  During our first interview, I sit down with you so we can converse at length as to what you want in a home.  Once you tell me what is and isn’t important to you, I can set you up in our automated search system using your specific criteria.  With this system, I can send you targeted homes on a daily basis.  You can leave me notes, and I can respond to them so we are constantly in touch about the status of your search for the perfect house.  If your needs change, you can just post a note, and I will adjust accordingly.  Nothing could be easier, and my clients are raving about it.  It’s a great non-tech tech site that just about everybody will love.

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