If you have extensive knowledge of renovation and real estate, flipping houses for a living may be a lucrative venture to consider. This process involves a lot of decision-making, and one wrong move could be financially disastrous. Make sure you are ready for this long-term endeavor by consulting with a real estate professional. They can help in many ways. Continue reading…
Lake Minnetonka real estate is now fully into quarter number two, and we're still curious to see where 2014 is headed.
In 2013, Lake Minnetonka real estate was up, along with most markets across the U.S. Now that the first quarter of 2014 is in the books, Lake Minnetonka real estate continues to improve, although not at the pace we saw in 2013, but we have a lot of real estate sales months to go before we can say that 2014 was better or worse than 2013.
Brock Maclean, EVP of Homes.com takes a look at housing for 2014, offering his thoughts and insight on the housing recovery, home affordability, and mortgage rates…
If you're in the market for Lake Minnetonka real estate, contact us today. We can assist you in finding the right Lake Minnetonka real estate for your budget and needs, while at the same time, offering you our professional expertise. This means when shopping for Lake Minnetonka real estate, you will have professional help, while not costing you any more than going it alone. Why would you buy any other way? Contact us for assistance in buying any Lake Minnetonka real estate.
Most people buying Lake Minnetonka real estate are somewhat delusional in thinking they know something about what they are doing. The fact is, unless you've bought and sold a lot of properties, you probably fall into the category of knowing very little.
3 Things You Should Know When Buying Lake Minnetonka Real Estate, But Don't
1. All Homes Have Problems – All houses have issues, some just have more than others. The shock usually comes when prospective buyers get their home inspection report back. Inspectors are professional pessimists, which is why we love them. But many issues only require simple and/or inexpensive fixes.
Most inspection reports will be 40 to 50 pages long, and most inspectors will take close-up, HD photos of problems. So while the actual listing shows gorgeous pictures of granite countertops, the inspection report will show awful pictures of a cracked driveway. By the end of the report you may be thinking the house is a total and complete lemon.
2. When Buying Lake Minnetonka Real Estate, You're Making TWO Purchases – When you buy a home, you actually are making two purchases. You are buying the home, and you are buying the money to buy the home.
For every 1% rise in interest rates, home prices would have to fall by 10% in order for you to maintain the same monthly mortgage payment. And at the end of the day, that's what matters, the monthly payment. So take advantage of low rates; they add much more buying power to your purchase than low prices.
3. Always Be Thinking Resale – This piece of the Lake Minnetonka real estate puzzle is something that all people buying assets should keep in mind: At some point you're going to sell it again and will want to maximize what you eventually get.
When you're buying a home, you're probably not thinking about the day you will have to sell it, but you will be thanking yourself one day if you remember those three little things you've always heard about Lake Minnetonka real estate… location, location, location!
Keep these things in mind when buying Lake Minnetonka real estate and don't make the same mistakes most of your friends and relatives will make.
For more tips and articles concerning buying Lake Minnetonka real estate, click the Lake Minnetonka Home Buying Tips link to your right under our Lake Minnetonka Real Estate Categories.