Category Archives: Buyers

3 Fixer Upper Considerations

Fixer Uppers I have a client that is looking for a fixer-upper house in Minneapolis. This client wants to purchase a house, fix it up, and then sell it for a profit. I’m going to share some insights on some of the considerations that go into buying a fixer-upper home. Location 1. One consideration to…

Are You Ready to Buy a Home?

Factors to Consider Before Purchasing a Minneapolis Home There are many factors in determining where or when you buy your first home, but first ask yourself these questions: Do you have a steady source of income (usually a job)? Have you been employed on a regular basis for the last 2-3 years? Is your current…

Green Home Guide

Everybody is talking green, and by green, I don’t mean money. Green is in. It’s the latest thing. The government has gotten into the act by forming ENERGY STAR, a joint program of the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy.  This program rates different appliances, office equipment, home electronics and…

Smart Buyer Guide

Many times, searching for the perfect house seems to be a daunting task.  There are so many things to consider, including location, surrounding environs, not to mention features of the house.  With all these thoughts racing through your head, it’s easy to overlook one salient fact or another.  The first thing to do is make…

How’s THAT going?

When I meet people for the first time, they usually ask THE question when I mention that I’m in real estate. The question: “How’s THAT going?” or “Isn’t that a tough business?” or “Isn’t it hard to sell homes right now?” or somthing else to the effect.  Frankly, the real estate market is not as bad…

Difference between Short Sale and Foreclosure

What’s the difference between a Short Sale and a Foreclosure? A Short Sale is when the homeowner owes more than the property is worth, and cannot pay back the difference. They are short of full payoff. Here’s an example: Let’s say the homeowner buys a house for $200,000, with a primary mortgage of $160,000, and…

How to find out more information on a property

If you are looking at a specific house, and want to find out more information than what is on the MLS system, there are free resources that will allow you to find out things such as structure information, assessments, whether the property is in foreclosure, and more. This is public information, and much of it…

Foreclosure Process Timeline

In the Minneapolis / St. Paul and suburbs, the typical process for a foreclosure goes something like this. Upon missing the first mortgage payment, the bank sends a nice, friendly letter reminding them of a missed payment. After another one or two missed payments, the letters get a little less friendly. After 4 or 5…

A Short Commute

The Star Tribune just published an article on having a shorter commute. Here’s a link. I’m in agreement on living in the city. I currently live in a great neighborhood of South Minneapolis with great neighbors, a wonderful character-filled house, and lots of closeby amenities. We can walk to two different parks within 3 blocks,…

What is CDOM?

No, I didn’t spell CD-ROM wrong. CDOM stands for Cumulative Days On Market. Well, ok. What does that mean? And why do you want to know? CDOM is the total time the house has been on the market since it was originally listed. Here’s an example. Let’s say the homeowners put their house on the market in…

Steven Hong Steven has been working in the real estate business for over 8 years. He began his career by obtaining his license for the sole purpose of purchasing investment properties. Now, 8 years later, he still has no investment properties but has helped many homeowners with their purchases and sales. Prior to real estate, Steven had worked in the IT industry, with many years of programming experience, as well as technical support experience. He loves answering computer questions, just try him! Steven is also an accomplished photographer. He marries his love for photography with real estate and shoots many homes for many other agents. You can visit his real estate photography website here. 952-915-2252