HGTV's HOUSE HUNTERS

Hi everyone, recently HGTV has contacted Edina Realty and some of us agents to see if we had any buyers interested in participating on their show, "House Hunters." It is a TV show about buyers purchasing homes and the elimination process. The buyers chosen will receive $500 as a gift for their time and we Realtors would get to be on TV. So far I have asked 3 of my buyers and only 1 is interested in applying.

We are still in search for other buyers to apply with us for the TV show so if you are looking to buy a house in the next 2 months or so, let Steve or I know so we can get you the application and the details. I have already spoken to the producer and all I need to do is send in the paperwork and a short video once someone is interested.

Email me at : Holli@homesbyholli.com if you are interested or stevehoem@edinarealty.com

Lots of Distressed Homes

Fixer-upper, handy-man special, lived-in... Pick your term--there are lots of homes out there that won't sell at near the asking price!
I can't believe the homes I see when I'm looking with homebuyers!

With all the homes buyers have to choose from, you can tell pretty quick which homes are going to sell quickly at or near the asking price and which will be around next year at this time. Sound like a good recipe for a home to buy? You betcha!

If you're looking for a deal, try not to think like 99% of the other homebuyers out there. Don't look for nice decorating, a bright interior or great updates. Look for good bones. If a home is in a neighborhood or area you like and the bones (foundation and structure) of the home are solid, it presents a good opportunity for a deal and some sweat equity.

Then, ask some friends to come over to help you paint, roof, re-side or whatever the required job. Try to pick friends who have done it before or better yet, offer to help them on their home if they'll help you with yours - practice on their home first!

Happy house-hunting!

Hi everyone.

The market is starting to heat up. I have been really busy the last few weeks working with buyers. They are out there and are looking. I mostly work with first time homebuyers and I know what they like and I can almost always predict the house that they will want to make an offer on.

Here are some of the things that will help you when you are trying to sell your home.

Neutral new/newer carpet
neutral paint job
Deck is a huge plus if you can add it for cheap
Stainless steel appliances appeal to the younger buyers
Different living area, such as 2 living/family rooms on different levels in case of roommates
fenced in yard: at least 50% will have a dog and there is a fence search on the MLS
Decorated in cool decor, no personal photos or belongings out

Most of this has been mentioned in our past entries, but WE CAN'T STRESS these tips enough. Buyers don't want shaggy brown carpet. They don't have the cash to outlay for new carpet and paint, since most of them are doing 100% financing. They want to finance the home and not have any updating to do.

Ready, Set, Sell!

Already in 2007, home listings are above the level of a year ago. Sooooo, if you are selling your home, you need to do EVERYTHING possible to make your home stand out from the rest.

First Impressions

First, have someone you trust look at your home from a buyer's point of view-what are their first impressions from the outside and the inside?

Clean the front of your home and paint the front door and trim if it needs it, even if it needs it just a little

Setting the Stage

Make them want to stay - put away the lawnmower, hang up the hammock, set your dining room table-create a welcoming & relaxing atmosphere

Eliminate smells - no air fresheners!

Make sure the home flows. Allow 36-42" walking space around furniture and through traffic areas.

Reduce Clutter

Reduce clutter - ensure the key points stand out (i.e., show off your fireplace, new kitchen cabinets, ...)

Fine-tune your decorations. Groupings of items such as canisters, candles and knick-knacks should be in odd numbers - groups of 1, 3 or 5 items - no more than 7 items maximum!

Make your home feel bigger by making your closets, storage and cabinets 1/2 full and by storing large pieces of furniture.

If you need more tips, contact your Realtor, a Stager or an interior designer or check out your local library.

Great Home Buying Book


I don't get fired up about books all that often but I just read The Automatic Millionaire Homeowner: A Powerful Plan to Finish Rich in Real Estate by David Bach.


WOW! This book was very powerful and a quick read - you can easily read it in a weekend. It's filled with easy to follow real world examples of the ease of buying a home.


Some of the tips I found useful:
- it's not market timing, it's time in the market -- don't think about flipping a home by buying and selling in a short time. This strategy is about staying the course and keeping a home for at least five years
$172K and $5K - the average net worth of a home-owner and of a renter in 2003
$540,000 - the amount of rent paid at $1500 monthly over 30 years
==>$0 - the amount of return on that investment

333% - the return on investment for a $200K home with $6K down and sold at $220K

0 - The number of years of declining national home values from 1997-2005
12 - The number of years of decline for the S&P 500 over the same period
17 - The number of years of declining values for T-bonds over the same period
==> Homeownership is one of the best if not the best long-term investment!

These are just some of the nuggets I pulled from the book. If you are thinking about a home purchase or thinking about investing in real estate, I strongly recommend this book-two thumbs WAY up!

Your first step - talk with a lender to find out what you qualify for.
Second step - interview Realtors to find one who will work hard for you.