This is the most Successful Home Staging in MN that I have done, in terms of quick results. I was called by a Realtor and told they had a listing for this beautiful high end rambler in Plymouth, MN. Unfortunately the home had been listed for a year! This beautiful home in Plymouth, MN had been standing vacant the entire year and getting horrible comments about how it needed updating. Yes, there were a few things that need to be updated but all in all the bones of this home were fabulous and on a wonderful wooded lot. This home was a prime candidate for Home Staging. It was so drab, so cold and uninviting that you really wanted to leave as soon as you walked in. The dated light fixtures screamed in your face as there was nothing else to look at. Light fixtures are an easy change to make ... 06/04/2010

Mortgage markets improved yesterday after the Federal Reserve released its March 16th, 2010 meeting minutes. It's good news for in Maple Grove home buyers and rate shoppers - rates could have just as easily gone the other way. The Fed Minutes is a detailed recap of the debate and discussion that shapes the nation's monetary policy. The notes are dense; it takes 3 weeks to compile them for publication. As compared to the more well-known, post-meeting press release, the Fed Minutes are extremely lengthy. For example: March 16th press release : 451 words March 16th meeting minutes : 6,152 words If the press release is the executive summary, the Fed Minutes are the novel. The extra words matter.The minutes recount what the Fed did, how the Fed did it, and what the Fed plans to do next. And,... 04/09/2010

Mortgage markets improved last week as economic reports painted a less-than-stellar portrait of the U.S. economy and concerns of a looming monetary policy change eased. Mortgage pricing improved dramatically, despite a late-Friday retreat. Mortgage rates are now at their lowest levels since early-February. Last week was heavy on negative data: Consumer Confidence posted 16% short of expectations. New Home Sales posted 13% short of expectations. Initial Jobless Claims were higher than expected. In addition, both the Case-Shiller and Home Price Indices showed a slight pullback in the housing sector. The impact of these statistics was muted, however. This is because Fed Chairman Ben Bernanke gave his semi-annual outlook to Congress and markets focused more on the chairman verbiage than har... 03/29/2010

The housing recovery showed particular weakness in the New Homes Sales category last month - good news for homebuyers around the country. A "new home" is a home for which there's no previous owner. New Home Sales fell 11 percent from the month prior and posted the fewest units sold in a month since 1963 - the year the government first started tracking New Home Sales data. Right now, there are roughly 234,000 new homes for sale nationwide and, at the current sales pace, it would take 9.1 months to sell them all. This is nearly 2 months longer than at October 2009's pace. The reasons for the spike in supply are varied: The original home buyer tax credit expired in November. Weather conditions were awful in most of the country in January. Weak employment and consumer confidence continue t... 03/29/2010

You can't get your mortgage rates from the newspaper. Last week proved it.  Again. Friday morning, headlines in Minnesota and around the country read that mortgage rates were down 0.04 percent, on average, since the week prior. A sampling of said headlines includes: US Mortgage Rates Drop For 2nd Straight Week. (Reuters) Mortgage Rates On 30-year US Loans Fall To 4.93%. (Business Week) 30-Year Fixed Mortgage Rate Falls Farther Below 5%. (Marketwatch) The story behind the headline was sourced from the Freddie Mac Primary Mortgage Market Survey, am industry-wide mortgage rate poll of more than 100 lenders.  The PMMS has reported mortgage rate data to markets since 1971 and is the largest of its kind. Unfortunately, Minneapolis rate shoppers can't rely on it. See, unlike governments and p... 03/29/2010

Mortgage markets reeled Wednesday after the Federal Reserve released the minutes from its January 26-27th, 2010 meeting. Mortgage rates in Minnesota are now at their highest levels since the start of the year. The Fed Minutes is a follow-up document, delivered 3 weeks after an official FOMC meeting. It's a companion piece to the post-meeting press release, detailing the debates and discussions that shaped our central bankers' policy decisions. The Minutes is a terrific look into the Fed's collective mind and, yesterday, Wall Street didn't like what it saw.  Specifically, the report disclosed that: The Fed plans to break support for mortgage markets after March 31st, 2010. Raising the Fed Funds Rate will be a key part of the Fed's strategy to tighten monetary policy. The fundamentals beh... 03/29/2010

Mortgage markets worsened last week on general profit-taking in the U.S. bond market, combined with talk of a coordinated rescue effort for Greece and its debt burden. Mortgage-backed bonds sold off, causing conventional and FHA mortgage rates to rise. There wasn't much hard data on which to trade last week, either, so momentum took markets farther than they otherwise might have moved on their own.  It marked the first time in 5 weeks that rates rose for Wisconsin rate shoppers. This week, data returns. Expect mortgage market movement. Some of the week's more important releases include: Housing Starts and Building Permits.(Wednesday) The release of the last month's FOMC Minutes.(Wednesday) Business and consumer inflation figures.(Thursday and Friday) Inclement weather may have impacted ... 03/29/2010

Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates in Minnesota improved for the 4th consecutive week. Mortgage rates are now at a 6-week low but probably shouldn't be.  It underscores just how important global events can be to U.S. mortgage markets. For example, corporate earnings continue to improve and key elements of the economy are strengthening.  Even the Federal Reserve acknowledges this.  In most circumstances, that would be a boon for the stock markets and bond markets would suffer, including mortgage bonds. Last week, that wasn't the case. Early in the week, as (1) China tightened its monetary policy, (2) Greece did little to quell l... 03/25/2010

On the first Friday of every month, the U.S. government releases its Non-Farm Payrolls data from the month prior. The data is more commonly known as "the jobs report" and it swings a big stick on Wall Street. Especially now - many analysts believe job growth is tightly linked to the future of the U.S. economy. Therefore, when January's jobs report hits the wires at 8:45 AM ET tomorrow, Plymouth home buyers would do well to pay attention. A net job reading that is much higher (or lower) than Wall Street's expectations can make a serious change in home affordability. Wall Street expects that the economy added 13,000 jobs last month.  It would mark the second time in 3 months that the jobs report showed a net monthly gain. In November 2008, the economy added 4,000. Jobs matter to the econo... 03/25/2010

  Reporting on a two-month lag, the government said home values rose 0.7 percent in November.  National home prices are at their highest point since February 2009. But before we look too much into the FHFA's Home Price Index, it's important that we're cognizant of its shortcomings; the most important of which is its lack of real-time reporting. According to the National Association of RealtorsTM, 80% of purchases close within 60 days. As a result, because of its two-month delay, the Home Price Index report actually trails today's market data by an entire sales cycle. This is one reason why home values appear to be rising even while new data shows that both Existing Home Sales and New Home Sales fell flat last month.  The home valuation report is using data from November; the sales repor... 03/25/2010

A "Housing Start" is a privately-owned home on which construction has started. It's an important gauge of housing health because it tracks new housing stock nationwide. In December 2009, starts fell by nearly 7 percent. The news is mildly disappointing but not too bad. The likely cause for the Housing Starts drop is December's rough weather conditions. It's tough to break ground when Mother Nature won't coordinate and last month was especially hazardous in a lot of parts of the country. More cheery, however, is that for the second straight month, Housing Permits exploded.  A housing permit is an certification from local government that authorizes construction. After posting a 7 percent gain in November, permits rose by another 8 percent in December. It's a signal that housing is, indeed... 01/22/2010

Securing an FHA mortgage in Minnesota is about to get more expensive. In a statement issued Wednesday, the Federal Housing Authority outlined policy changes to its mortgage assistance program. The shift is meant to both reduce the government group's portfolio risk while strengthening its overall financials. For consumers, the changes mean higher costs. As listed in the official announcement, there are 3 major guideline updates for the FHA: Upfront mortgage insurance premiums are increasing to 2.25% from 1.75% Minimum downpayments for applicants with sub-580 FICOs are rising to 10 percent Seller concessions are being limited to 3%, down from today's allowable 6% Furthermore, the FHA has appealed to Congress to raise an FHA borrowers' monthly mortgage insurance premiums. To read the FHA'... 01/22/2010

November 6th, 2009, Congress voted to extend and expand the First-Time Home Buyer Tax Credit program.  There's 100 days left to claim it. The expiration date of the up-to-$8,000 tax credit has been pushed forward to spring, requiring homebuyers in Maple Grove to be under contract for a home no later than April 30th, 2010, and to be closed no later than June 30th, 2010. In addition, "move-up" buyers were also added to the program's eligibility list meaning you don't have to be a first-time home buyer to be eligible for the tax credit.  If you've lived in your home for 5 of the last 8 years, you meet the IRS requirements. Move-up buyers are capped at a total tax credit of $6,500. The tax credit's basic eligibility requirements remain the same: You can't purchase the home from a parent, sp... 01/22/2010

Mortgage markets showed little conviction last week, carving out just a narrow trading channel. There was very little data on which for markets to move, leaving mortgage rates momentum-bound. Luckily for rate shoppers, mortgage rate momentum was favorable. Rates were slightly lower Monday through Thursday before breaking downward Friday afternoon. Home shoppers this past weekend caught a nice break. Last week marked the second straight week in which mortgage rates fell. This week, in holiday-shortened trading and with little economic data set for release, expect mortgage rates to again move on momentum. The biggest report of the week is Wednesday's Producer Price Index. Producer Price Index is important to mortgage rates because of its role in inflation.  PPI is akin to a Cost of Living... 01/22/2010

Like real estate, it appears that foreclosure activity is a local phenomenon, too. As reported by RealtyTrac.com, more than half of all foreclosure-related activity in 2009 came from just 4 states: California Florida Arizona Illinois More than 1.4 million filings made in 2009 are attributed to the above states. Furthermore, each ranks in the Top 10 for 2009 Foreclosures Per Capita. The other states are Nevada, Utah, Georgia, Idaho, Michigan and Colorado. Versus 2008, foreclosures are up 21 percent nationwide and that's a big number, but a deeper look at RealtyTrac's annual reports reveals a more positive undertone on the housing market. 40 states fell below the national Foreclosures Per Capita average in 2009. Foreclosure activity fell on an annual basis in 10 states as compared to 200... 01/22/2010

Mortgage rates are dropping this morning on weaker-than-expected Retail Sales data from December. Lower rates means more bang for your home-buying buck. Excluding motor vehicles and parts, December's "ex-auto" sales receipts were down roughly $500 million from November. Analysts had expected receipts to grow. The relevance of Retail Sales to home affordability isn't obvious, but it's definitely logical. Retail Sales is directly related to consumer spending and consumer spending accounts for the majority of the U.S. economy. When consumer spending slows, the economy often does, too. It leads investors to seek out "safe" investments. It's the reason why stock markets often drop on weak economic data - stocks are among the riskiest investment classes available. Conversely, the best place ... 01/22/2010

Visit msnbc.com for breaking news, world news, and news about the economy As the housing market improves across the country, certain cities are emerging as relative bargains.  Some areas, like Miami, were hit hard by the recession, and other areas are buoyed by good school systems and strong labor markets. In this 5-minute video from The Today Show, 10 cities are highlighted for their home prices.  And they're not "small towns", either.  Among the featured cities: Miami, Florida Akron, Ohio Tuscon, Arizona Minneapolis, Minnesota Trenton, New Jersey Now, this piece is about finding gems on a national scale.  They exist locally here in Maple Grove , too.  You just need to know what to look for. With mortgage rates low and tax credits available, it's not likely that bargains will last. 01/13/2010

Despite the headlines, it's important to remember that December's jobs report wasn't all bad news.  Sure, the economy shed 85,000 jobs last month and the Unemployment Rate failed to dip below 10%, but for home buyers and rate shoppers in Minneapolis , the news was just fine. The soft employment data led mortgage rates lower, making homes more affordable for buyers. There is two sides to every economic coin. Since early-2008, the U.S workforce has been closely tied to home financing. As the economy slowed and jobs were lost, Wall Streeters pulled money from the risky stock markets and moved it to of the relative safety of bond markets, instead. Safe haven buying led mortgage bond prices higher which, in turn, caused rates to fall. Mortgage rates fell to 6 all-time lows in 2009. In a rela... 01/13/2010

Data was sparse through 2010's first trading week last week, setting the stage for a week of momentum trading. In up-and-down trading, mortgage pricing improved overall but the best rates of the week didn't last long. Rates improved Monday and Tuesday as an oversold market corrected itself to better price points.  Then, in anticipation of the December jobs report, rates worsened Wednesday and Thursday.  Friday, after the jobs report was released, pricing proceeded to carve out a huge range before settling unchanged. On average, lenders issued new rate sheets every few hours last week. It was a difficult week to shop for mortgages in Minnesota and elsewhere. Unfortunately, this week doesn't figure to be much better.  For the second straight week, the economic calendar is bare.  Traders -... 01/11/2010

FHA home loans are federal assistance mortgages made by lenders, and backed by the government. The FHA doesn't make loans to Wisconsin homeowners - it insures loans made to homeowners by federally-qualified lenders. By all accounts, FHA home loans are surging in popularity. 2006, FHA insured 3.3% of all mortgages made. Q2 2009,FHA insured 19.2% of all mortgages made. A major reason for the increase can be tied to guidelines. As compared to its conforming mortgage cousins Fannie Mae and Freddie Mac, FHA home loans have lower downpayment requirements and looser credit standards. The FHA allows downpayments of 3.5 percent for homes in Maple Grove and Fannie Mae and Freddie Mac do not, as an example. Another reason is that FHA home loans aren't subject to credit score fees the way that conf... 01/11/2010