You’ve been living in an apartment for several years, and while you appreciate the freedom they offer, you’re ready to plant some roots and buy a home. You have money saved for a down payment and know the neighborhood you want to live in, but now, the problem holding you back is your credit score. If you’re concerned it’s too low to get a mortgage, or at least a decent rate, we’re sharing 5 ways to fix your credit before buying a house.
Financial Assistance May Be Available to You
The US Small Business Administration has extended their deadline for businesses (of all sizes), private nonprofit organizations, homeowners and renters to apply for a physical disaster loan to November 2, 2020. This applies to those in the stated counties in Minnesota with damages incurred by the civil unrest between May 27 – June 8, 2020. Visit their website for further information at
https://disasterloanassistance.sba.gov/s/?utm_medium=email&utm_source=govdelivery
Housing Assistance through the State of MN
The State of MN is now accepting applications for individuals who have been impacted by COVID-19 and are in need of housing assistance. Please visit their website to learn more @ http://www.mnhousing.gov/sites/np/covid19housingassistanceprogramFAQ
Please note: Stutsman Realty does not endorse, does not take responsibility for, and exercises no control over the linked organization or its views, or conte...
How to Calculate Capital Gains
WORKSHEET
Calculate Capital Gains
When you sell a stock, you owe taxes on the difference between what you paid for the stock and how much you got for the sale. The same holds true in home sales, but there are other considerations.
How to Calculate Gain
| Your home’s original sales price when you bought it (not what you brought to closing). | |
| Additional costs you paid toward the original purchase (include transfer fees, attorney fees, and inspecti... |
Service Provider Contacts
WORKSHEET
As you complete your real estate transaction, you will need to keep track of professionals who are helping you. You may not use all of these but here is a worksheet for your reference. Please contact Stutsman Realty to discuss your real estate needs!
| Name | Contact Info | |
| REALTOR® | ||
| ADVISERS |
Where to Find the True Value for Your Home
Ever wondered what your home is worth?
Want to know where to start looking?
Whether you’re just curious or are eager to find a competitive listing price, using the best resources to find your property’s value is crucial.
Today, we’re going to be talking about two types of home evaluation tools: neighborhood sold reports and comparative market analyses.
Comparing Your Home with Your Neighbor’s
A neighborhood sold report is a detailed list of homes that have recently sold in your area. They include information about the s...
Transaction Documents for the Buyer
When you walk away from the closing table with a big stack of papers, know what to file away for future reference.
Loan estimate
Your lender is required to provide you with this three-page document within three business days of receiving your loan application. It will show estimates for your interest rate, monthly payment, closing costs, taxes, and insurance. You’ll also learn how your interest rate and payments could change in the future, and whether you’ll incur penalties for paying off the loan early (called “prepayment penalty”) or i...
Trees Can Increase Your Property Value
You probably don’t think much about the trees on a home’s property unless they pose an immediate threat to the structure. But you may not be aware of how much value trees hold and how they can affect the price of your listing. John Palmer, an arborist who is certified by the International Society of Arboriculture, reveals the true benefits and liabilities of trees, what buyers should look for in home landscaping, and what sellers can do to protect the value of their trees.
Can trees actually affec...
Tracking Closing Costs
Here is a chart to help you stay organized as you track your closing costs. Be prepared and know who’s responsible for the variety of fees and expenses at the closing table.
| BUYER COST | SELLER COST | OTHER | |
| Down payment | |||
| Loan orig... |
How to Improve the Odds of an Offer
Price it right. Set a price at the lower end of your property’s realistic price range while considering –
• Comparable properties: A “comp” is what real estate professionals call home sales that can be reasonably used to help determine the price of your home. But just because you’re in the same neighborhood doesn’t mean that the houses will sell for the same amount. Your real estate professional will help you determine how to compare your home in terms of size, upkeep, and amenities.
• Competition: How many other houses are for sale in you...