Foreclosed Property is Not Quick Money

The Star Tribune recently ran an article (Foreclosures become more than some bargain for) that outlined some of the problems with trying to buy foreclosed property.

In July 2007 alone there were 975 foreclosures in the 13-county Twin Cities metro area, up from 392 a year earlier, according to RealtyTrac. That flooding of the market is making it hard for the government to maintain its workload and respond to incoming offers on foreclosed property.

Reports have also shown that buyers have been contributing to the problem by making unrealistic offers on homes, furthering jamming the workload of existing workers.

Are you looking at buying foreclosed property? Contact an exclusive buyer agent to help you through the transaction.

Flood Advice

The floods in southern Minnesota have been devastating. It has been horrific to see the pictures of the areas. While most of the Twin Cities is removed from harm’s way, we wanted to share some tips for homeowners who are concerned about floods or even just a flooded basement.

The Minneapolis Star Tribune recently ran an article (Safety tips help dry out, clean up flooded home) that was full of good tips for cleaning up after a flood. Tops include unplugging all electronics, remove as much water as possible with a bucket, towel or shop vacuum. Clean and sanitize the area, and elevate any furniture or other belongings.

You might also want to consider flood insurance. FEMA has a web site for homeowners to learn about flood insurance including how to prepare for natural disasters, how to get involved, and how to protect yourself and your property.

When looking for a home, you want to consider flood potential as well as potential of water damage – both from rain and snow. An exclusive buyer agent can you help recognize the signs of trouble and the signs of a sturdy house.

MN Mortgage Questions

The Minneapolis Star Tribune recently ran an article that answers some popular questions from folks who are looking into mortgages given the increasing worries about sub prime loans.

The questions are:

• Will I still be able to get a mortgage?
• Can I still get a no-down-payment loan?
• Should I be concerned if I currently have a subprime mortgage?

The gist of the answers hinges on the fact that if you have good or decent credit then you can still get a loan. If your credit is shaky or your loan is large you may have issues, but still there may yet be opportunities.

Read the whole article at the Minneapolis Star Tribune.

Feng Shui Colors

Color can be an easy way to integrate Feng Shui principles into your home. Individual colors correspond to one of the Five Feng Shui Elements: Fire, Earth, Metal, Water, and Wood. The idea is to select colors based on the qualities they represent and your need or desire to add that quality into your everyday life.

Here is a quick list of the colors, elements, and qualities:

Fire – Passion and High Energy
Colors are red, orange, purple, pink, strong yellow

Earth – Nourishment and Stability
Colors are light yellow and beige

Metal – Clarity and Preciseness
Colors are grey and white

Water – Ease, Freshness, and Abundance
Colors are blue and black

Wood – Health and Vitality
Colors are brown and green