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Monday, March 23, 2015

How to Qualify To Refinance Your Crow Wing County Home

The average 30-year fixed-rate mortgage fell last week to 3.78 percent, down from 3.86 percent the week prior. With the continued decrease of mortgage interest rates now may be the time to refinance your Crow Wing County home.   Here are a few tips on determining if you qualify to refinance your mortgage loan.

First, start by determining how much equity you have in your home at this time. It is ideal to be able to refinance without paying private mortgage insurance.  In order to refinance and not pay private mortgage insurance your LTV needs to be 78% or less. To find your loan-to-value (LTV) ratio you would need to determine what your home is worth and subtract that from what you owe.  

Second, look at your debt-to-income (DTI) ratio.  LendingTree.com advises that after you refinance your mortgage your new payments, plus other debt should not add up to more than 43% of your current gross income.  During the refinance process lenders will be looking at your credit scores. The higher your credit scores the better the refinance rate you will be able to secure.  Lender minimums credit scores are typically between 620 to 660.

If you have determined refinancing your Crow Wing county home is not in your favor as you will be moving in the near future then consider contacting us for your all your home selling and buying needs.

Last, evaluate the costs incurred in refinancing and make sure it is worth it.  Are you considering selling your Crow Wing County home soon? If so refinancing may not be in your best interest.  The thousands of dollars you w incur in closing costs, loan origination fees, and other fees may not be worth it if you plan to move in the next few years.

I would love to help you buy or sell a home in Crow Wing County this spring, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156

Monday, March 16, 2015

Crow Wing County Monthly Market Report

Spring officially begins this week, and with the warmer weather we welcome more buyers and sellers to the housing market. Even with the frigid temperatures of this past February the number of new homes being put on the market increased by22% compared to this same period of time last year.

The number of homes sold last month was slightly down compared to this period of time last year, but the number of pending home sales jumped by 40%. Pending sales are a strong indicator of what we can expect in closed home sales in the months to come.

The average sales price increased by 3.6% to $115,000, and the average list price increased by 2.1% to $167,019.  Homes in Crow Wing County are selling for more, and those sellers on average are receiving 90.3% of their original listing price.

The spring housing market will be in effect before we know it.  If you are looking to buy or sell a home in 2015, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

 

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156

Sunday, March 1, 2015

Are you looking a home in 2015? Do not miss the homebuyer education workshop in Baxter.

Is buying your first home in Crow Wing County part of your plans in 2015? If so consider attending Home Stretch, the homebuyer workshop, on March 17th or March 19th at the Greater Lakes Association of Realtors office in Baxter. This workshop will walk you through every step of the home buying process.

Throughout the workshop you will learn what you need to know about qualifying for a mortgage, financing your new home, how to credit shop, the closing process, homeowner maintenance and the numerous mortgage products available to you.

There are a few mortgage products, government loans, and programs that assist with down payment and closing costs available to homebuyers that require them to receive a certificate from Home Stretch.

If you are unable to attend the event to receive the certification for your upcoming home purchase you can attend an online homebuyer education course offered by Framework. This course has been approved by a large number of lenders to meet the homebuyer education requirement.  You can find more information about the online course at www.cmhp.net.

To attend the event you must register by contacting Suzy at 320-258-0681.

Prior to attending the event it is encouraged that you attend a pre-purchasing counseling appointment. This service is free and is offered to any potential homebuyer who wants to speak with a certified homeownership counselor in regards to their current financial situation prior to purchasing a home.

I would love to help you buy or sell a home in Crow Wing County this winter, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156

Monday, February 23, 2015

How to Lower Your Crow Wing County Home Insurance Bill

Do you experience stick shock when you open your yearly home insurance bill for your Crow Wing County home?  Homeowners insurance does not have to be extremely expensive.  Here are a few tips to help you save on your next bill.

Deductible

Know what your deductible is, and increase it. Raising your deductible can cut your yearly premium by up to 20%. The average deductible can be $250, $500 or $1,000. There are some companies that will allow you to have a deductible as high as $2,500.  Filing a claim on your homeowners insurance should only be for emergencies. If you file a lot of small claims it will increase your rate. Switching companies will not allow you to avoid these increased rates as they share information through a nationwide database called the Comprehensive Loss Underwriting Exchange (CLUE).

Discounts

When getting the best rate you want to make sure you are taking advantage of all discounts available to you.  Grouping your auto and home insurance coverage with the same provider can help cut your rates by 10% to 15%.  Installing a house alarm system will qualify you for a discount for many companies. Have you recently had a life change such as getting married, or retiring? These could reduce your rate as well.

Shop Around

When it comes to your homeowners insurance it pays to shop around. Prices can vary greatly from company to company.  The process of shopping around for a better rate can be time consuming but it could save you large in the long run. If you find a lower rate with a company that you are not currently insured with ask your current insurance company if they would be willing to match that rate.

I would love to help you buy or sell a home in Crow Wing County this winter, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156

Monday, February 16, 2015

Crow Wing County Monthly Market Report

If you are considering selling a home in Crow Wing County now is the time.  The number of inventory homes on the market remains low, and home buyers are continuing to look for their perfect home.  There were 100 new listings in January of this year, down 1.0 percent over last year. The total number of homes for sale across Crow Wing County was down 12.8 percent over this period of time last year.

The number of inventory homes for sale may be down, but the median and average sales price is up. For the month of January the median sales price was $139,950 up 20.9 percent over this time last year, and the average sales price was $158,468 which is an 18.7 percent increase.  The median list price last month was $152,000 and the average list price was $174,604.

Home sellers in Crow Wing County received 88.4 percent of their original asking price when compared year-over-year that is an increase of 7.8 percent.

2015 is off to a strong start and now is the perfect time to list your home for sale.  If you are looking to buy or sell a home in 2015, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

 

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156

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