What Do Americans Want Most Once Finances Improve?

Fifty-one percent of Americans in a recent poll say that if their financial situation were to improve, they’d buy a home. Coming in second on the list of wishes, they’d make repairs or improvements to the home they already have, according to the poll of more than 1,400 Americans conducted by the National Foundation for Credit Counseling Web site, www.DebtAdvice.org.

Meanwhile, 17 percent of Americans polled said they’d upgrade their car and 9 percent said they’d take a vacation.  "Home ownership has traditionally been a part of sound financial planning," says Gail Cunningham, spokesperson for the NFCC, a nonprofit credit counseling organization. "With a combined total of 74 percent of respondents selecting a home-oriented option, the poll results strongly suggests that people continue to place value in owning a home, and are anxious to buy a house or improve their existing one."   Read More Here...

5 Ways for Sellers to Lure More Buyers

Pricing your home realistically will most certainly get potential buyers through the door, but how do you get them to fall in love with the home? A recent article at U.S. News & World Report offers some of the following tips for sellers in enhancing their home’s appeal.

1.  Add curb appeal: "Make sure the house is cleared of winter clutter, that windows are washed, that the front door is painted or clean,” says Brad Knapp, regional vice president for the National Association of REALTORS® for Ohio and Michigan. “You have to give the house good curb appeal.”

2.  Declutter: Remove clutter from the home so that buyers can actually see what all the home has to offer. Any excess belongings of the sellers should be stored in the garage or in a storage unit.

Read More: 5 Ways for Sellers to Lure More Buyers

Fargo Home Buyer Assistance Program ENDING SOON! ~Important Notice~

This notice is from the City Planning & Development Department of the City of Fargo...

After 18 successful years, the City of Fargo is ending its Home Buyer Assistance Program.  Due to cuts in Federal funding, the City will no longer offer down payment and closing cost assistance to eligible homebuyers.  The City will continue to accept applications for assistance as long as the closing date occurs prior to April 30, 2012.

Although the City of Fargo Home Buyer Assistance Program will no longer exist after April 30, the Nortrh Dakota Housing Finance Agency (NDHFA) is offering its down payment assistance program to homebuyers in Fargo.  The State offers a couple options for homebuyer assistance and they are similar to Fargo's program.  Information on NDHFA's home ownership programs can found on www.ndhfa.org.

For more information or to see if you qualify for the NDHFA program, contact Julie Carlson @ Bremer Bank.  Julie's contact information can be found here.

'Rehab' Loans Surge in Popularity to Fix Up Properties

Low mortgage rates and falling home values have brought housing within reach to more families than ever before, according to the latest National Association of REALTORS® housing affordability index.

Housing affordability in January reached its highest level since NAR began tracking it in 1970. The index -- which tracks median home price, median family income, and the average mortgage rate -- reached 206.1 in January.

"This is the first time the housing affordability index has broken the 200 mark, meaning the typical family has roughly double the income needed to purchase a median-priced home," says Moe Veissi, 2012 NAR president. "For buyers who can qualify for a mortgage, now is a very good time to become a home owner."  Read More:

Minnesota on the mend: Recent economic data point to durable recovery

Minnesotans got a burst of good economic news in recent weeks, providing further evidence of a rebound.  The state reported a state budget surplus last week, albeit a narrow one that's already spoken for.  Jobs data out last week showed the state gained more than 15,000 jobs in January, with a net uptick of 29,000 over the past 12 months. The state jobless rate is now 5.6 percent, down from 6.8 percent a year ago. And things could look brighter for job seekers, as the number of unemployed Minnesotans for each job vacancy is now 3.2 to 1, down from 5.8 to 1, where the ratio stood a year ago.  Since the recession ended in the summer of 2009, "Minnesota has outperformed the U.S. and the rest of the (Midwest) region," said Ernie Goss, a professor at Creighton University in Omaha, Neb., who conducts a regional poll on economic conditions.  "Now, the rest of the region has caught up," he said. One reason is that housing was more of a drag on Minnesota, and the Twin Cities economy in particular, compared with other nearby states.  "But Minnesota's unemployment rate has been trending down pretty significantly," Goss said. "You'd have to say that bodes well for the economy."  However, some regions of the state are emerging from the recession in better shape than others.

NORTH DAKOTA OR BUST

Along the border with North Dakota, more Minnesotans are commuting to work - and not to the oil jobs in the western part of the state, say North Dakota officials.  Read More...

Warren Buffett on CNBC: I'd Buy Up 'A Couple Hundred Thousand' Single-Family Homes If I Could

View CNBC Video

Warren Buffett says along with equities, single-family homes are a very attractive investment right now.

Appearing live on CNBC's Squawk Box, Buffett tells Becky Quick he'd buy up "a couple hundred thousand" single family homes if it were practical to do so.

If held for a long period of time and purchased at low rates, Buffett says houses are even better than stocks. He advises buyers to take out a 30-year mortgage and refinance if rates go down.


Read More: Warren Buffett on CNBC: I'd Buy Up...

FHA Hikes Fees on Mortgages

Home buyers with mortgages backed by the Federal Housing Administration will soon see a rise in fees, the agency announced Monday.

The agency is raising its fees in an effort to try to recoup some of its depleted reserves*, which suffered from the rising number of home owners who defaulted on their mortgages. The agency also says it’s raising fees to try to encourage the return of more private capital to the market.

FHA loans allow for smaller down payments, as low as 3.5 percent compared to traditional loans, and they often have less stringent credit requirements, which have made them soar in popularity in recent years. (The agency insures loans but doesn’t issue them.) About 40 percent of all new mortgages for home purchases in 2010 were FHA-backed mortgages.

In particular, FHA will increase two fees that borrowers pay. Starting April 1, it will increase

Read More: FHA Hikes Fees on Mortgages

The Importance of Home Staging in Fargo Moorhead's Competitive Real Estate Market!

In today’s competitive real estate market, a great looking and staged home can give a seller a leg up on their competition. With the over-saturation of home inventory on the market and the influx of new properties coming to market this year because of foreclosures, it has become even more important to have a strategy to set one’s home apart from its nearby competition. Hiring an experienced staging company may be the move that ultimately sells your home in the shortest time and at the highest price.

Staging has become such a hot button these days that some sellers are now hiring a home stager before a Realtor. This demonstrates a trend where how your home looks is becoming as important as the real estate agent you hire.

Research demonstrates that homes that are staged sell faster and at higher prices than homes that aren’t staged. So, hiring the right stager who has the right design vision for your home and a Realtor that targets the right price point will continue to be the biggest factors in selling one’s home.

I’m frequently asked how to find the right stager for a particular seller. The answer depends on what the seller can afford to spend on their house staging design and how quickly they are looking to sell.

The more a home is staged has an impact on buyers who walk through the home, and some are better at visualizing than others if space is left empty. A vacant home has a colder and less personal feel and appeal to a potential buyer than a home that has furniture and accessories appropriately placed by a home staging designer.

I’m frequently asked how to find the right stager for a particular seller. The answer depends on what the seller can afford to spend on their house staging design and how quickly they are looking to sell.

The more a home is staged has an impact on buyers who walk through the home and some are better at visualizing than others if space is left empty. A vacant home has a colder and less personal feel and appeal to a potential buyer than a home that has furniture and accessories appropriately placed by a home staging designer.

Additionally, more and more sellers are hiring stagers to redesign and help work with them moving around their existing furniture and accessories.  This is known as occupied home staging where the stager doesn’t need to bring in additional furniture and will work with the seller’s existing personals. This is an affordable way of touching up the current property with a designer’s minor personal vision.

Luxury Condos For Sale Downtown Fargo

Former Home Owners Wait for Second Chance

More than 4 million homes have been lost to foreclosure in the last six years, and many of those former home owners are now starting to ask: When can we buy again?

Many banks have guidelines that prevent them from issuing loans to people with a foreclosure or short sale in their credit history in some cases for as much as seven years. That also doesn’t factor in the damage foreclosures and short sales can do to a person’s credit score, and the work former home owners' will need to do to repair it so they’ll have a better chance at qualifying for financing again in the future.

Still, some former home owners, particularly those who foreclosed or did a short sale due to extenuating circumstances like a job loss or illness, are finding the wait may not be as long as they were once told.

"They're probably going to pay a little higher interest rate, but with rates so low, a higher interest rate of 4 percent is not a big deal," Rosa Herwick, a broker and owner of Century 21 JR Realty in Henderson, Nev., told the Associated Press.

The wait-time varies among lenders and government entities. For example,

Read More...Former Home Owners Wait for Second Chance

FM Area Real Estate Statistics

This chart shows real estate activity in the FM area for the past 12 months.

Possibly due to such a mild winter (up until now), listings significantly increased in January.  It appears spring came early this year in the real estate market, many more "NEW" listings for buyers to choose from - a little earlier than normal.  

Our hearts go out to the families and friends of these beautiful young women

Although we didn't know these girls, accidents like these hit too close to home for me.  I have a 17 yr old daughter who is getting ready to start college this fall at NDSU... I cannot begin to imagine what everyone is going through after such a horrible tragedy and I cant stop thinking about it.  We are all saddened by the news and wish all the families and friends comfort through the years to come as they all mourn their terrible loss.  God Bless!
 
NDSU Roommates Remember Crash Victims

FARGO, N.D. - Though it's still heart wrenching, the two roommates of the four NDSU students who were killed in a crash outside Alexandria, Minn., spoke with FOX 9 News about the friends they'd come to know so closely while living together.  There haven't been many moments since Monday when someone wasn't holding onto Shannon Nelson's hand. In fact, on Wednesday afternoon, Tanya Stillwell and Sophie Porter were still holding on tight. "They always had a smile on their faces -- always brought a smile to everybody else's face," Nelson told FOX 9 News.  Nelson may be the person on the North Dakota State University campus who knew the four victims the best. She spent many hours with her friends in their suit, which she shared with Megan Sample and Jordan Playle and Danielle Renninger. Each night, she slept in the bed next to Renninger's.  "It's hard being in there knowing that they are all gone. When I'm in there, I can't turn over at night and talk to Danielle for an hour and half like we used to," she said.  Porter and Stillwell are among many of the other girls who have opened up their room to Nelson. They cry together, but they also help each other remember how special each of their friends had been.  Though friends like Nelson, Stillwell and Porter only spent a semester with the four women, they say they will spend the rest of their lives remembering them.  Emily Alexander lived with Lauren Peterson, and said she had a difficult time coming back to the room they had shared.  "I went in there for the first time since we left on Friday. It was overwhelming," she said. "Something inside me still felt like she'd be there, but she wasn't."  Alexander and Peterson had been friends since they were 12 years old. "We talked about everything growing up -- where we wanted to live, weddings, babies. We talked about everything," she said.  So, when it came time to go to college, the pair knew they were going to NDSU -- and they knew they simply had to room together.  "Moving in together -- we were both so nervous, but we always said it was really nice to have someone there, that we wouldn't have to do it alone," Alexander recalled.  Alexander returned to campus for just one day, but despite the support she's received on campus and at home, she said she now feels alone at NDSU. Now, she thinks her time at the school may be coming to an end.  "I haven't decided what I'm going to do," she said. "I can't stay in that room without her. I don't know if I can come back without her. It doesn't seem right."

Read More...

Modern Market Realtors

Tips for EXTERIOR Home Staging

You won’t get a second chance to make a first impression!

Most home buyers make at least one “drive-by” before they schedule a showing. Before you put your home on the market and have it photographed, it is imperative that you stage the exterior. Curb appeal can pull in numerous home buyers, while the lack of curb appeal can reflect on a home seller’s lack of interest in keeping up the home. As a home seller, you are the key player in the marketing strategy.  You will need to start at the curb of your home and make a list of whatever stands out to you. For a more objective point of view, feel free to ask us for suggestions.

Do it yourself tips:

1) Do you need to rent a power washer? The winter months can be brutal in Fargo Moorhead. It’s important to look at siding, windows, shutters, your driveway, and overall exterior. A power washer can be a quick fix for the dirt and grime that has built up over the winter months. Buyers may be turned away by a dirty, un-kept exterior.

2) Bird feeders: Be sure that bird feeders are not neglected. If you have taken the time to set up a bird bath and bird feeders in the front of your home, keep them clean. Bird baths should be cleaned out and bird feeders should be full of bird seed.

3) Light Fixtures: Be sure that your light fixtures are clean; sweep away any cobwebs or debris that can leave them looking neglected. Upgrade any outdated light fixtures. There are a lot of attractive light fixtures for under $100.

4) Exterior Hardware: Shine up the exterior hardware, which includes door hardware and address numbers. A small touch up can go a long way whether you decide to clean, paint/stain or even replace the hardware to give it a new look. When shopping for new hardware, select a look that will complement the light fixtures.

5) Exterior Finish: The entrance of your door often takes the most abuse. It’s important to address any scuff marks or flaking paint on the door trim that can make the house look unattractive. Remember, the value of your home can be reflected by some of the smallest details. A fresh coat of paint can quickly upgrade the exterior trim!

6) Potted Plants: Soften up the front porch area by adding greenery and potted plants. A simple touch of color can add not only beauty and depth to any front porch, but it can also differentiate your home during a competitive buyers market.

7) Mulch barren flower beds: Don’t let the winter months keep your flower beds looking neglected. A few bags of mulch can go a long way.

8) Mailbox: How old is your mailbox? Is it time to get a new one? Whether you purchase a new mailbox or you repaint it, be sure that it looks new and attractive to home buyers.

9) Clean out your gutters: If you did not clean out your gutters during your fall maintenance routine, then now is the time. Be sure that leaves and brush are removed and that your gutters are firmly attached.

10) Welcome Mat: Don’t forget to buy a new welcome mat for the front door. Throw out that dingy old doormat and purchase a neutral yet attractive doormat that invites guests inside your home.

If you’re thinking of selling, we can tell you what comparable homes are listing for in your neighborhood and what the market is saying that your home should sell for.  Also, if you would like us walk with you through your home and help you decide what you "should" and "should not" spend money on getting your home ready to sell, we would be glad to help.  Call us anytime!

Secrets of the Staging Pros

We asked staging experts to reveal some of their favorite tools, accessories, and strategies when home staging.

Inspired by Nature

Barb Schwarz, credited with being the creator of home staging and CEO of www.Stagedhomes.com, says one of her favorite staging tools is pulling from the natural elements of nature. For example, Schwarz says she’ll creatively use “twigs, branches, seashells, green cuttings from the outdoors, orchids, real trees as possible, hand woven baskets, cotton, linen, burlap fabrics, real leather, and earthy colors as well. You cannot lose when using the colors of nature. This creates a comfortable, natural look and setting in any home for sale.”

Read More... Secrets of the Staging Pros

HGTV ‘Curb Appeal’ host John Gidding to share tips at home show

What: 2012 Red River Valley Home & Garden Show, featuring John Gidding of HGTV’s “Curb Appeal: The Block,” and William Moss of HGTV’s “Dig In.”

When: 3-9 p.m. Friday; 9 a.m.-6 p.m., Saturday; 11 a.m.-5 p.m. Sunday

Where: Fargodome, 1800 N. University Drive

Info: Admission is $8; $1 off coupons will be available in show guides and at www.hbafm.com. Show guides were published in The Forum Sunday and are available at all Hornbacher’s stores. Visit the HBA’s website for more information on the show.

FARGO - That first visit to someone’s home is kind of like a first date.
First impressions are formed within 30 seconds of knocking on the front door. If the trim needs repainting, the porch lights don’t work and the lawn is choked with dandelions, visitors might assume you really don’t take care of your abode.     Read more...

Tips for Home Staging

One of the fastest growing real estate considerations in America today is something called “staging” your house. This means furnishing, decorating, clean-ups and ultimately arranging your home in such a way to attract increased buyer interest.

A recent national survey indicated that staged homes sold on average in 13.8 days, while non-staged homes sold in 30.9 days. Because of the housing market, staging your home is more important than ever for getting the best price when you sell.

Here are some outdoor staging tips to optimize your curb appeal, give you a competitive edge vs other homes for sale in your area, and sell your home quickly:

Read More: Tips for Home Staging

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Housing Affordability Reaches New Records

Housing affordability rose to a record high during the fourth quarter of 2011, which means a home buyer’s purchasing power is greater than it ever has been before, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.

The index showed that 75.9 percent of all new and existing homes sold in the fourth quarter were affordable to families earning the national median income of $64,200, according to the index. That marks the highest percentage recorded in the index’s 20-year history.

Read More...Housing Affordability Reaches New Records