Benefits Of Owning A Green Home You May Not Have Considered

Going green is not just a new trend; it is a way of life that benefits not only the environment, but also your health — and your pocketbook.

Green living cuts down on carbon emissions and creates a healthier environment both inside and outside of a home. While green structures sometimes cost more initially, the money (and environment) saved in the long run is well worth the investment.

Health Benefits

Owning a green Maple Grove home has significant health benefits. Many conventional buildings are not properly ventilated and indoor air quality is often more polluted than the air outside.

Poor air quality is bad for your health and can aggravate asthma and allergies. Certified green properties tend to have excellent airflow and ventilation. They also use toxin-free materials in building and may have fewer problems with mold and mildew.

Environmental Benefits

Homes are responsible for a significant portion of the carbon emissions on earth. A green home has a smaller carbon footprint since it is built with better insulation and fitted with energy-efficient appliances.

Green structures are built from sustainable or recycled materials that are meant to lower the impact on the environment. Proper green buildings also take advantage of natural lighting and airflow to reduce the use of electricity to light and to help warm and cool their interiors.

Financial Benefits

Green buildings are constructed to use less energy, which means you should pay less in energy costs. Ventilation systems in green structures are better insulated to reduce air leakage.

Builders also install fixtures that conserve water and are energy efficient. The initial cost might be slightly higher, but the monthly bills can be cut almost in half in many cases.

There are even more financial, environmental and health benefits to owning a green property. Living in a green home can allow you to save yourself money and help the earth, all while living in a healthy environment.

If you're looking to purchase a new house, consider a green property. If you have any questions on current green properties available in the local market, please call your trusted real estate professional right away.

Home Builder Future Sales Confidence Rises To New Highs

Home builders are gaining confidence in current and future market conditions for new homes, but continue to see below-average foot traffic in new homes.

The reading for May's National Association of Home Builders (NAHB) /Wells Fargo Housing Market Index (HMI) increased by three points to a reading of 44 as compared to April's revised reading of 41. The HMI measures builder confidence in current sales conditions for newly built homes, buyer foot traffic in new homes and builder expectations for future sales conditions.

Builder Confidence In Future New Home Sales Highest Since February 2007

The HMI reading for current sales conditions for newly built homes rose from 44 to 48. The reading for buyer foot traffic in new homes rose from 30 to 33, and builder confidence in future sales of new homes rose from 52 to 53, which is the highest reading posted for builder expectations since February 2007.

A reading of more than 50 indicates that more builders consider housing markets good than bad. 

NAHB Chairman Rick Judson noted that home builders are facing challenges including rising costs for building materials, lots and labor as supply chains recover from the recession. He also said that builders took note of “urgency” among home buyers wanting to take advantage of low mortgage rates, but who are facing a dwindling supply of available homes.

Regional Housing Market Index Unchanged Except In West

HMI readings for three of the four geographical regions used in the HMI survey of builders remained unchanged with the Northeast at 37, Midwest at 45 and South at 42.

The reading for the West declined by five points to 49, and likely reflects the shortage of building space and available new homes for sale. The regional HMI figures are calculated as a three-month rolling average.

In some areas of the West, home sellers are again receiving multiple offers for homes, a clear indication of diminishing inventories of homes for sale.

As an example, the Sacramento Bee recently reported the dilemma of builders faced with fewer available construction-ready lots alongside an increasing demand for homes. As inventories of both new and pre-owned homes shrink, demand for homes is growing as buyers take advantage of low mortgage rates.

With builders feeling confident about the future and poised to ramp up their home building efforts, it is a great time to consider buying or selling a home in Maple Grove.  

Contact your trusted real estate professional to discuss your options right away to take advantage of this exciting opportunity.

 

7 Tips To Make Your Living Room More Appealing To Home Buyers

Everyone knows that first impressions are important. By carefully staging your home, you can positively influence the feelings your potential buyers have when they are viewing the property.

Staging is the art of decorating and arranging the spaces within your house to make it more appealing to buyers. If you can adapt the rooms to create an attractive and welcoming zone that home buyers can see themselves in, they will be more likely to buy your property.

One of the most important rooms to stage is the living room, because it is such a central part of the house. This is where a lot of the social activity occurs, so it should appear comfortable and welcoming.

Here are some tips to keep in mind when staging your living room before the next showing of your home:

• Clear out the clutter. The most important step is to de-clutter, because a mess will turn off potential buyers. Clear away any papers, toys and other items to make your living room as clean and minimalist as possible.

• Go zen. The main purpose of a living room is for relaxation, so make the space look as comfortable as possible. Try a soft throw on the sofa, plush cushions and a big chair that is just begging you to come curl up with a book.

• Strategically place furniture. Arrange the living room furniture to create areas of conversation, such as two sofas facing each other with a low coffee table in the middle.

• Depersonalize. Remove your personal items. If you have too many family photos and personal effects in the room, it can make it difficult for your potential buyers to imagine their own family living there.

• Remove the bulk. If your living room feels small, you can remove some of the furniture to give it the illusion of being bigger.

• Channel your green thumb. You might want to consider bringing in some plants to make the space feel fresh.

• Brighten it up. If your living room has dark corners, invest in upright lamps that will help illuminate the space and provide an aura of intimacy.

With these seven tips, the living room in your Minneapolis home will be much more appealing to potential buyers.

If you are ready to make a move to your next home, call your trusted mortgage loan officer for a personal consultation to get the best home mortgage loan for your purchase.

Know Your Real Estate Disclosure Laws Before You Sell Your Home

When deciding to sell a piece of Minneapolis real estate, there are certain things you must disclose about the property to the buyer before the sale can go through.

Disclosure laws are put in place to protect the buyer from unknowingly purchasing defective property. Not disclosing certain information about the property can jeopardize the sale, or worse, invite a lawsuit.

This has become more of an issue lately as some sellers are tempted to gloss over deficiencies in the home they are selling in order to try to get a higher sales price.  In fact, a recent poll of real estate agents showed that 75% of agents ranked non-disclosure among the "top three current and future issues."

What You May Need To Disclose

The main items that need to be disclosed are any defects with the home. This includes, but is not limited to, plumbing problems, water leaks, cracks in the foundation, insect infestations and toxic materials in the home — such as lead, asbestos, carbon monoxide or mold.

Be sure to fully disclose anything that may be pertinent to the buyer before purchase. Some disclosure laws include reporting issues with neighbors and whether the home has a criminal or notorious past.

If you are unsure about some information regarding your real estate, one option would be to state that you do not know that specific information. Remember though, if you knowingly withhold information, it may cause the sale to fall through or could be used against you in a lawsuit.

Does It Make Sense To Have A Pre-Inspection Done?

Sellers can also have their home inspected prior to placing the property on the market to prevent any surprises of unknown problems with the home. This way, defects can be fixed before listing the property, and the disclosure form can state the problem has been fixed. Buyers will almost surely want an inspection prior to closing, and a pre-inspection may suffice.

Disclosing information does not mean the seller needs to fix the problem. Any disclosed problems with the real estate can become a negotiation point. Remember, the most important thing is to be honest about any known issues with the property.

Real estate disclosure laws may be different depending on the state in which you live. The best way to know what you need to disclose in your area is to check with your trusted real estate agent or property attorney and discuss any potential property issues with them before you fill out the seller disclosure form.

What's Ahead For Mortgage Rates This Week - May 13, 2013

Mortgage rates rose last week with average rates a 30-year fixed rate mortgage rising from last week's 3.35 percent to 3.42 percent with buyers paying all closing costs and 0.7 percent in discount points.

Average rates for a 15-year fixed rate mortgage rose from 2.56 percent to 2.61 percent with buyers paying their closing costs and 0.7 percent in discount points.

Freddie Mac also reports that average rates for a 5/1 adjustable rate mortgage rose from 2.56 percent last week to 2.58 percent with buyers paying their closing costs and 0.5 percent in discount points. 

Here are noteworthy points from last week's economic news:

Monday:  In spite of improving economic conditions, a majority of participants in the Senior Loan Officer Opinion Survey on Bank Lending Practices indicated that their lending institutions would not be relaxing residential mortgage lending standards. Lenders perceive a significant risk in terms of being required to absorb losses incurred on defaulted mortgage loans. 

Mortgage owners including Fannie Mae and Freddie Mac, along with mortgage insurance companies can require mortgage lenders to buy back defaulted loans or make them whole for losses related to foreclosed and otherwise defaulted mortgage loans.

Tuesday: CoreLogic reported an increase of 1.9 percent in national home prices for March. This news represents the 13th consecutive increase and a year-over-year increase of 10.5 percent.

Home prices were boosted by strong increases in the West; Nevada posted a 22.2 percent gain from last March and California posted a 17.2 percent year-over-year gain. 

CoreLogic predicted a year-over-year increase of 9.6 percent for home prices for April, with a monthly increase of 1.3 percent increase expected between March and April.

Thursday: Weekly jobless claims brought good news as they came in at 323,000; this was lower than expectations of 335,000 new jobless claims and the 327,000 new jobless claims reported in the prior week.

Friday: The Treasury Department reported that the federal budget has a surplus of + $113 billion for April. This was $54 billion higher than for April 2012 and the highest monthly surplus since April, 2008.

Increasing home values and federal budget surpluses, along with falling consumer debt pointed the way toward overall as well as personal economic recovery last week.

What's Coming Up 

This week brings a couple important economic reports affecting the real estate industry including the Home Builders Index on Wednesday and the Weekly Jobless Claims and Housing Starts numbers released on Thursday.

The Consumer Sentiment and Leading Indicators reports will round out the week on Friday. Consumer Sentiment is important in terms of housing markets and mortgage lending; consumers typically don't buy homes or move up to a larger home if they aren't feeling secure about economic conditions. 

This week's economic data may provide further evidence of a stronger U.S. economy as well as a snapshot of retail spending and consumer costs.