First Time Homebuyer Coffee Chat – April 14th

8 04 2009

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Pended sales & sold homes in the Minneapolis market, by neighborhood

1 04 2009

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IRS Provides Filing Guidance on First-Time Home Buyer Tax Credit

31 03 2009
    First Time Home Buyer Tax Credit Update from the IRS

The IRS released additional information to help home buyers understand the ways they can file to receive the home buyer credit. It is important for taxpayers to know that they must complete the purchase and close or take up residence in the case of new construction in order to be eligible to file for the credit. Here are the four main options listed by the IRS:
1) File an extension.
2) File now, amend later.
3) Amend the 2008 tax return.
4) Claim the credit in 2009 rather than 2008.

There are a number of entities working on ways to advance money to be used for downpayment in anticipation of receiving the credit. NAR is working to provide guidance on these options and how they might work. However, there is no legal way to receive the credit itself from the IRS prior to closing since closing on the purchase is a prerequisite to eligibility for the credit.

READ MORE DETAIL FROM THE IRS ON THE FOUR OPTIONS





Small kitchen? Smart design….

12 03 2009

A common complaint about older homes that we often hear is that the kitchens are too small. When houses were built in the early 20th century, consumers didn’t expect from a kitchen what they do today. There weren’t dishwashers, and microwaves, and sometimes there weren’t even refrigerators so there wasn’t the need for space there is today. But, we like small kitchens. We think smart design will lead to a highly efficient kitchen – and who needs more than that? Here is a great example of a well-designed small kitchen. And it’s cute to boot!

To read more about this adorable and functional kitchen, check out www.apartmenttherapy.com.

p.s. No surprise this is Swedish kitchen. Oh, how we love the Swedes and their smart, simply and stylish design!

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Edina Realty Market Update – March 2009

9 03 2009

The trend continues! For the ninth month in a row, pended sales in the Twin Cities area are up over the prior year. January pended sales were up more than 10 percent over last year; for the week ending Feb. 14, they were up 17 percent. Buyers really seem to be taking advantage of opportunities among lender mediated and bank owned properties, which currently account for about 60 percent of sales according to the Minneapolis Area Association of REALTORS® (MAAR).


146 – Cumulative days on market

10.3% – Fewer listings on the market than 1 year ago totaling 54,597

54% – Of the inventory that has sold in last 30 days has had a price adjustment

10.3% – Increase in sales over last year

14 – For every sale that takes place, there are 14 more properties that haven’t sold

23 – Showings for every home that sells





Open houses today (Saturday)

28 02 2009

Saturday from 11:30 – 1:30 p.m.
4750 Dawnview Terrace, Golden Valley
Beautiful three bedroom, two bath home on an over-sized lot. Huge deck with hot tub and wonderfully updated lower-level entertainment room with gas fireplace.
Price just reduced to $264,900

Saturday from 2-4 p.m.
4840 Ewing Avenue South, Minneapolis
Just came on the market this week – you must see this beautiful three bedroom, two bath Tudor in the wonderful 50th and France neighborhood of South Minneapolis. You’ll love the tasteful updates and brand new lower-level entertainment room – the perfect space to enjoy a snowy, winter day.
Priced at $389,000





4840 Ewing Avenue South – $389,000

24 02 2009

Introducing the newest of the Minne-apple listings – 4840 Ewing Avenue South in the desirable 50th and France neighborhood of Southwest Minneapolis. Old-world charm with modern updates! You’ll fall in love with this immaculate three-bedroom, two-bathroom Tudor. Original wood floors, spacious & light-filled living and dining room, updated kitchen and baths & newly remodeled lower-level entertainment room. Move right in and make this home your own!

We’ll be open this weekend on Saturday from 2-4 p.m. and Sunday 12-4 p.m. We’d love you to stop in for a look!

For more details, click on the listing on www.edinarealty.com.

4840front4840media-room4840kitchen