Robert Guthridge's Blog

(Sub)Divide & Conquer So, how do you make an already dramatic lake view (in this case, overlooking Plymouth’s Medicine Lake) even more dramatic? By splitting it in two. Specifically, by adding a floor — ceiling if you’re on the lower level — that merges the newly created upper level with the Kitchen/living area on the main floor (it’s a one-story walkout), while creating a brand new Family Room underneath. Because the two-story Family Room had such high ceilings (20′), even split in two, the two new resulting rooms are still quite dramatic. And, both rooms feature a much more intimate lake view (I attended a social function at the home recently). from RSSMix.com Mix ID 8230700 https://ift.tt/2KAJYZF via IFTTT

Bonus Question:  “What Can You Skip ?” I don’t know that there’s a rule of thumb — or a formula — for determining exactly when a home is (very) well-staged. The closest I’ve got is this:  “A home is well-staged when all of its unique attributes are optimally identified and showcased, and any Achilles’ Heels have either been muted or — ideally — eliminated.” Which just begs the question, “Exactly what the $%#@&! is THAT?” Potter Stewart’s Definition It all sort of recalls Justice Potter Stewart’s line about pornography, in an obscenity lawsuit before the Supreme Court. “I can’t definite it (pornography)”, he averred. “But, I know it when I see it.” Similarly, at a minimum, a well-staged home should show off the home’s entry; Dining, Living and Family Rooms; Kitchen; and Master Bedroom. If the home has an actual Owner’s Suite (private master bath), it should show that off as well. Ditto such features as a Home Office or Exercise Room; lower level Amu...

City Lakes Real Estate Blog Tops the List (Google’s) So, how do you get to be the best Realtor blog in America? Start with a daily post featuring a topical bit of real estate-related news or analysis (usually). Then, write 6-8 more such pieces the same week. Finally — and here’s the hard part — repeat weekly . . .  for 11 years(!). Really . . . Thanks for visiting! * According to Google, “City Lakes Real Estate Blog” is the highest-ranked individual Realtor blog (vs. list of blogs) in the U.S., searching under these terms: “best U.S. Realtor blog,” “best Realtor blog,” “top U.S. Realtor blog,” and “best U.S. real estate agent blog.” from RSSMix.com Mix ID 8230700 https://ift.tt/2tPENxO via IFTTT

Debits & Credits, Credits & Debits In the vast majority of real estate closings in Minnesota — 99.45%**, to be exact — the title companies doing the closing have to calculate a  pro rata property tax adjustment between the Buyer and Seller That’s because in Minnesota, homeowners pay property taxes twice a year (May 15 and October 15), with the payments covering the first and second halves of the year, respectively. When closing occurs in the middle of those intervals, either the Buyer owes the Seller (if they paid for a portion of the six months that they’re not living in the house); or, the Seller owes the Buyer (if latter is making a semi-annual payment, but living in the home less than that). Total Adjustment:  $0 Which leaves the 2 days of the year — June 30 and December 31 — that fall at the exact end of the semi-annual tax periods. Assuming the Seller made the most recent payment, no adjustment is necessary, because the Seller lived in the home ...

Great Location. Great Price. Where : 3515 Cedar Lake Ave. in Minneapolis’ Sunset Gables neighborhood, overlooking Cedar Lake and the downtown skyline. What :  5 Bedroom, 4 Bath Italianate Style, 3-story home with 4,200 finished square feet on a gorgeous double lot. When :  Wine and cheese today(!) from 4:30 p.m. to 6:30 p.m. Who :  Hosted by Ross Kaplan of Edina Realty – City Lakes, listing agent. How much :  listed for $1 million. You’ll be wowed(!) by this commanding, 3-story Italianate-style home with stunning skyline views on a gorgeous double lot overlooking Cedar Lake. Highlights include the bright & cheerful, updated L-shaped Kitchen with Canadian granite and stainless appliances; gracious Living and Dining Rooms made for entertaining; the barrel-vaulted Mezzanine-level Family Room; and a versatile 3rd level perfect for teenage kids, guests, or Studio/Office space.   Architecture buffs will appreciate this home’s fine details both i...

Classic Colonial What : 4 Bedroom/3 Bath two-story Colonial with just under 2,700 finished square feet. Where :  2851 Huntington Avenue South in Fern Hill; about four blocks southwest of Cedar Lake, and one mile west of Lake Calhoun. When :  on the market mid-July. How much :  Low $600’s. Who : listed by Ross Kaplan, Edina Realty – City Lakes. Don’t miss your chance to own this character-filled Colonial on one of Fern Hill’s prettiest blocks. You’ll love the blend of formal and informal spaces on the first floor, including the Living Room, Dining Room, Den, and Kitchen/Family Room overlooking the level, fenced backyard — plus a Screened Porch. Upstairs, enjoy four Bedrooms on one level including the private Owner’s Suite and walk-in closet. Quality construction and lots of nice updates throughout, featuring hardwood floors; newer double-hung windows; exterior painting; newer furnace (forced air) and central a/c; and drain tile. Only second time on the...

“Animal/Insect/Pest Infestation? Check ‘Yes’ or ‘No'” Do a cursory search online for “animal control,” “bat removal,” or similar, and you’ll find at least a dozen Twin Cities contractors advertising their services. Meanwhile, something like 35,000 Twin Cities homes sell each year. Even if bats inhabit less than 1% of Twin Cities homes, there should be at least a couple hundred area “For Sale” homes that have had them. And yet, I’ve never once seen a prospective home seller disclose that. And that includes “For Sale” homes where inspections done by my buying clients have found bat droppings in the attic or crawl space under the roof rafters. Two Explanations What’s going on? Two things: One .  The threshold for disclosure on the Minnesota Seller’s Disclosure is “infestation.” I’m not aware of any Minnesota statute or case law that defines “infestation,” but common sense suggests that 1-2 bats . . . isn’t.  Especially if the owner hired a professional ...

“The More Things Change” Department Once upon a time, when I started selling real estate in 2002, the worksheet that Buyers and Sellers signed at closing was simply known as . . .  the settlement statement  (or just the closing worksheet, to avoid any jargon). Then it became the “HUD-1” (HUD stands for “Housing and Urban Development,” the federal agency — soon to be led by Ben Carson — that oversees the form). Most recently, it morphed into the “ALTA” (short for “American Land Title Association”). All of which leaves veterans such as myself referring to the form, once again, as “the settlement statement.” Format Tweaks Does the name matter? Not really. While there have been modest changes in format along the way, the constants remain a summary first page, followed by a second page that breaks out expenses. For Sellers, the key items to track are the Sales price; any Seller-paid’s; commission; closing fees; transfer taxes; and pro rata adjustments ...

“Would You Like Some Fries With That Ketchup?” — Housing Edition $1.5M Mediterranean villa on the Mississippi is car lover’s dream home. — Star Tribune (June 25, 2018). It turns out that a five-car garage — like the one featured in today’s Star Tribune — is hardly the Twin Cities’ biggest. Perusing MLS transactions the last 3 years, I found a two-story brick monster (above and right) with room for 20(!) cars. The home that goes with ain’t bad, either:  4 BR/3 Bath with 4,100 finished square feet on almost 10 acres in Dayton. The home/garage sold for $726,000 last Summer. P.S.: Where does comedian Jay Leno house his 130 cars and 93 motorcycles? In a hangar next to the Burbank airport. from RSSMix.com Mix ID 8230700 https://ift.tt/2tEACVg via IFTTT

Why “Just Previewing” Serves Sellers’ Interests A Realtor showing is when a Realtor takes their client — a prospective Buyer (or one would certainly hope!) — through a “For Sale” home. No competing Sunday open house traffic, no busybody listing agent (representing the owner) present, and — perhaps most importantly — no owner around. The convention is to set up the showing online anywhere from a few hours to a day or two beforehand, and to block out a one hour window. “Preview,” Defined So, what’s a Realtor preview? When the client isn’t along. As a courtesy to the homeowner, the convention is to allow them to stay put while the previewing Realtor takes a look. That’s significant because the owner can forego the whole “lights-on-vacuum-clean-the-Kitchen-sink” fire drill (that’s only appropriate if the Realtor brings the client back). Practically, previewing can also mean that an owner with a bunch of little kids doesn’t have to bundle them up and d...

(Sub)Divide & Conquer So, how do you make an already dramatic lake view (in this case, overlooking Plymouth’s Medicine Lake) even more dramatic? By splitting it in two. Specifically, by adding a floor — ceiling if you’re on the lower level — that merges the newly created upper level with the Kitchen/living area on the main floor (it’s a one-story walkout), while creating a brand new Family Room underneath. Because the two-story Family Room had such high ceilings (20′), even split in two, the two new resulting rooms are still quite dramatic. And, both rooms feature a much more intimate lake view (I attended a social function at the home recently). from RSSMix.com Mix ID 8230700 https://ift.tt/2KAJYZF via IFTTT

Bonus Question:  “What Can You Skip ?” I don’t know that there’s a rule of thumb — or a formula — for determining exactly when a home is (very) well-staged. The closest I’ve got is this:  “A home is well-staged when all of its unique attributes are optimally identified and showcased, and any Achilles’ Heels have either been muted or — ideally — eliminated.” Which just begs the question, “Exactly what the $%#@&! is THAT?” Potter Stewart’s Definition It all sort of recalls Justice Potter Stewart’s line about pornography, in an obscenity lawsuit before the Supreme Court. “I can’t definite it (pornography)”, he averred. “But, I know it when I see it.” Similarly, at a minimum, a well-staged home should show off the home’s entry; Dining, Living and Family Rooms; Kitchen; and Master Bedroom. If the home has an actual Owner’s Suite (private master bath), it should show those off as well. Ditto such features as a Home Office or Exercise Room; lower level Am...

Low down payment mortgages are creeping their way back into the market like a cat sneaking up on an unsuspecting mouse.  The only difference here is that the mouse is a million dollar crap shack with a 30-year mortgage attached to it.  People forget that Freddie Mac and Fannie Mae, the massive Government Sponsored Entities […] from RSSMix.com Mix ID 8230700 https://ift.tt/2tGNg6k via IFTTT

“The More Things Change” Department Once upon a time, when I started selling real estate in 2002, the worksheet that Buyers and Sellers signed at closing was simply known as . . .  the settlement statement  (or just the closing worksheet, to avoid any jargon). Then it became the “HUD-1” (HUD stands for “Housing and Urban Development,” the federal agency — soon to be led by Ben Carson — that oversees the form). Most recently, it morphed into the “ALTA” (short for “American Land Title Association”). All of which leaves veterans such as myself referring to the form, once again, as “the settlement statement.” Format Tweaks Does the name matter? Not really. While there have been modest changes in format along the way, the constants remain a summary first page, followed by a second page that breaks out expenses. For Sellers, the key items to track are the Sales price; any Seller-paid’s; commission; closing fees; transfer taxes; and pro rata adjustments ...

“Would You Like Some Fries With That Ketchup?” — Housing Edition $1.5M Mediterranean villa on the Mississippi is car lover’s dream home. — Star Tribune (June 25, 2018). It turns out that a five-car garage — like the one featured in today’s Star Tribune — is hardly the Twin Cities’ biggest. Perusing MLS transactions the last 3 years, I found a two-story brick monster (above and right) with room for 20(!) cars. The home that goes with ain’t bad, either:  4 BR/3 Bath with 4,100 finished square feet on almost 10 acres in Dayton. The home/garage sold for $726,000 last Summer. P.S.: Where does comedian Jay Leno house his 130 cars and 93 motorcycles? In a hangar next to the Burbank airport. from RSSMix.com Mix ID 8230700 https://ift.tt/2tEACVg via IFTTT

I have been flipping houses for over 15 years in good markets, bad markets, and everything in between. A lot of people have said you cannot flip houses in today’s market. They say that prices are too high and that you can’t flip in a seller’s market. I think that you can flip in any market if you know the fundamentals of house flipping. I will admit it was much easier for people to flip houses right after the housing crash because there were so many foreclosures and short sales available. But, you do not need short sales or foreclosures The post Can You Flip Houses in a Hot Market? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 https://ift.tt/2MUkKH0 via IFTTT

Why “Just Previewing” Serves Sellers’ Interests A Realtor showing is when a Realtor takes their client — a prospective Buyer (or one would certainly hope!) — through a “For Sale” home. No competing Sunday open house traffic, no busybody listing agent (representing the owner) present, and — perhaps most importantly — no owner around. The convention is to set up the showing online anywhere from a few hours to a day or two beforehand, and to block out a one hour window. “Preview,” Defined So, what’s a Realtor preview? When the client isn’t along. As a courtesy to the homeowner, the convention is to allow them to stay put while the previewing Realtor takes a look. That’s significant because the owner can forego the whole “lights-on-vacuum-clean-the-Kitchen-sink” fire drill (that’s only appropriate if the Realtor brings the client back). Practically, previewing can also mean that an owner with a bunch of little kids doesn’t have to bundle them up and d...

Where : 3515 Cedar Lake Ave. in Southwest Minneapolis, overlooking Cedar Lake and the downtown skyline. What :  5 Bedroom, 4 Bath Italianate Style, 3-story home with 4,200 finished square feet on a gorgeous double lot. When :  Open from 1:30 p.m. to 3:30 p.m. today. Who :  Hosted by Ross Kaplan of Edina Realty – City Lakes, listing agent. How much :  listed for $1 million. You’ll be wowed(!) by this commanding, 3-story Italianate-style home with stunning skyline views on a gorgeous double lot overlooking Cedar Lake. Highlights include the bright & cheerful, updated L-shaped Kitchen with Canadian granite and stainless appliances; gracious Living and Dining Rooms made for entertaining; the barrel-vaulted Mezzanine-level Family Room; and a versatile 3rd level perfect for teenage kids, guests, or Studio/Office space.   Architecture buffs will appreciate this home’s fine details both inside and out, including acanthus leaf cornice moldings, cove...

Is There a Private Sector Solution to U.S. Health Care Mess? [ Editor’s Note :  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] No , I don’t know how to reform the United States’ tangled, inefficient, and spectacularly expensive health care system. But, I know how I would go about doing it. First, I’d start from scratch. Today’s “legacy” health care system (to be charitable) is no more susceptible of being re-worked into a cutting edge, world-leading model than a horse could be retrofitted to compete with an internal combustion automobile. Next, I’d keep any pilot program out of the clutches of the federal government, where it could be suffocated, warped, or kidnapped by Congress and/or the President, and inevitably turned into a political football used to further someone’s demagogic agenda (whatever it may...

To kick-start your investment plans, you need cash reserves. The best opportunities come and go quickly, and if you don’t have cash on hand to strike a deal, your investment career may possibly stall before it even had a chance to really start. Solid budgeting and a savings plan are the most straightforward ways to build your investment fund. However, if you want to accelerate things, look at your current resources—and expenses—for ways to free up and create more investing cash. Chances are that you have more funds (or access to more funds) than you even realize. This post is The post 6 Money-Saving Tips to Create More Investing Cash appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 https://ift.tt/2KwDN8N via IFTTT

I have been flipping houses for over 15 years in good markets, bad markets, and everything in between. A lot of people have said you cannot flip houses in today’s market. They say that prices are too high and that you can’t flip in a seller’s market. I think that you can flip in any market if you know the fundamentals of house flipping. I will admit it was much easier for people to flip houses right after the housing crash because there were so many foreclosures and short sales available. But, you do not need short sales or foreclosures The post Can You Flip Houses in a Hot Market? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 https://ift.tt/2MUkKH0 via IFTTT

City Lakes Real Estate Blog Tops the List (Google’s) So, how do you get to be the best Realtor blog in America? Start with a daily post featuring a topical bit of real estate-related news or analysis (usually). Then, write 6-8 more such pieces the same week. Finally — and here’s the hard part — repeat weekly . . .  for 11 years(!). Really . . . Thanks for visiting! * According to Google, “City Lakes Real Estate Blog” is the highest-ranked individual Realtor blog (vs. list of blogs) in the U.S., searching under these terms: “best U.S. Realtor blog,” “best Realtor blog,” “top U.S. Realtor blog,” and “best U.S. real estate agent blog.” from RSSMix.com Mix ID 8230700 https://ift.tt/2tPENxO via IFTTT

Debits & Credits, Credits & Debits In the vast majority of real estate closings in Minnesota — 99.45%**, to be exact — the title companies doing the closing have to calculate a  pro rata property tax adjustment between the Buyer and Seller That’s because in Minnesota, homeowners pay property taxes twice a year (May 15 and October 15), with the payments covering the first and second halves of the year, respectively. When closing occurs in the middle of those intervals, either the Buyer owes the Seller (if they paid for a portion of the six months that they’re not living in the house); or, the Seller owes the Buyer (if latter is making a semi-annual payment, but living in the home less than that). Total Adjustment:  $0 Which leaves the 2 days of the year — June 30 and December 31 — that fall at the exact end of the semi-annual tax periods. Assuming the Seller covered either the May 15 or October 15 payment, no adjustment is necessary, bec...

To kick-start your investment plans, you need cash reserves. The best opportunities come and go quickly, and if you don’t have cash on hand to strike a deal, your investment career may possibly stall before it even had a chance to really start. Solid budgeting and a savings plan are the most straightforward ways to build your investment fund. However, if you want to accelerate things, look at your current resources—and expenses—for ways to free up and create more investing cash. Chances are that you have more funds (or access to more funds) than you even realize. This post is The post 6 Money-Saving Tips to Create More Investing Cash appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 https://ift.tt/2KwDN8N via IFTTT

Great Location. Great Price. Where : 3515 Cedar Lake Ave. in Minneapolis’ Sunset Gables neighborhood, overlooking Cedar Lake and the downtown skyline. What :  5 Bedroom, 4 Bath Italianate Style, 3-story home with 4,200 finished square feet on a gorgeous double lot. When :  Wine and cheese today(!) from 4:30 p.m. to 6:30 p.m. Who :  Hosted by Ross Kaplan of Edina Realty – City Lakes, listing agent. How much :  listed for $1 million. You’ll be wowed(!) by this commanding, 3-story Italianate-style home with stunning skyline views on a gorgeous double lot overlooking Cedar Lake. Highlights include the bright & cheerful, updated L-shaped Kitchen with Canadian granite and stainless appliances; gracious Living and Dining Rooms made for entertaining; the barrel-vaulted Mezzanine-level Family Room; and a versatile 3rd level perfect for teenage kids, guests, or Studio/Office space.   Architecture buffs will appreciate this home’s fine details both i...

“The More Things Change” Department Once upon a time, when I started selling real estate in 2002, the worksheet that Buyers and Sellers signed at closing was simply known as . . .  the settlement statement  (or just the closing worksheet, to avoid any jargon). Then it became the “HUD-1” (HUD stands for “Housing and Urban Development,” the federal agency — soon to be led by Ben Carson — that oversees the form). Most recently, it morphed into the “ALTA” (short for “American Land Title Association”). All of which leaves veterans such as myself referring to the form, once again, as “the settlement statement.” Format Tweaks Does the name matter? Not really. While there have been modest changes in format along the way, the constants remain a summary first page, followed by a second page that breaks out expenses. For Sellers, the key items to track are the Sales price; any Seller-paid’s; commission; closing fees; transfer taxes; and pro rata adjustments ...

I have been flipping houses for over 15 years in good markets, bad markets, and everything in between. A lot of people have said you cannot flip houses in today’s market. They say that prices are too high and that you can’t flip in a seller’s market. I think that you can flip in any market if you know the fundamentals of house flipping. I will admit it was much easier for people to flip houses right after the housing crash because there were so many foreclosures and short sales available. But, you do not need short sales or foreclosures The post Can You Flip Houses in a Hot Market? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 https://ift.tt/2MUkKH0 via IFTTT

Why “Just Previewing” Serves Sellers’ Interests A Realtor showing is when a Realtor takes their client — a prospective Buyer (or one would certainly hope!) — through a “For Sale” home. No competing Sunday open house traffic, no busybody listing agent (representing the owner) present, and — perhaps most importantly — no owner around. The convention is to set up the showing online anywhere from a few hours to a day or two beforehand, and to block out a one hour window. “Preview,” Defined So, what’s a Realtor preview? When the client isn’t along. As a courtesy to the homeowner, the convention is to allow them to stay put while the previewing Realtor takes a look. That’s significant because the owner can forego the whole “lights-on-vacuum-clean-the-Kitchen-sink” fire drill (that’s only appropriate if the Realtor brings the client back). Practically, previewing can also mean that an owner with a bunch of little kids doesn’t have to bundle them up and d...

Is There a Private Sector Solution to U.S. Health Care Mess? No , I don’t know how to reform the United States’ tangled, inefficient, and spectacularly expensive health care system. But, I know how I would go about doing it. First, I’d start from scratch. Today’s “legacy” health care system (to be charitable) is no more susceptible of being re-worked into a cutting edge, world-leading model than a horse could be retrofitted to compete with an internal combustion automobile. Next, I’d keep any pilot program out of the clutches of the federal government, where it could be suffocated, warped, or kidnapped by Congress and/or the President, and inevitably turned into a political football used to further a demagogic agenda (whatever it may be). The Ultimate NGO Instead, I’d assemble a consortium of the nation’s leading companies, whose combined 1.2 million employees represented both a prime beneficiary of any to-be-designed health care system, and a ready test mar...

I’ve interviewed dozens of people who have reached financial independence with rental properties. Some started with high salaries, others made low or average incomes. None had trust funds. Like everyone else, they had little or no experience when they bought their first property. They learned from online courses, from mentors, from reading books and blogs. And they learned from doing. Each story is unique, but as I interviewed more of these successful people, several recurring themes began to emerge. Here are the patterns I’ve noticed, among the people who achieved financial independence within just a few years of starting their quest. (This post was The post 6 Lessons I’ve Learned from People Who Retired Young with Rental Income appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 https://ift.tt/2tu5TtZ via IFTTT

Pluses & Minuses (2 Apiece) At least in my experience, for every long-time homeowner who’s (overly) invested in their home, psychologically-speaking, and can only see it through rose-colored glasses, there are another 3 (or 10!) hoping their home is a teardown. Ditto for the listing agent waiting in the wings to sell it. Their two-part logic? One . The Seller doesn’t have to spend money fixing or updating anything,** never mind staging consultations, showings, or any other sales-related headaches; and Two . There won’t be any inspection issues to wrangle over . . . because there won’t be an inspection . Inspecting the Soil, Not the House Of course, those two pluses can be at least partially offset by these two negatives: One .  While the home’s condition may not matter, the condition of the soil underneath it might (softer soil or land near wetlands can require pilings, which increase construction costs). As a result, any sale might be contingent on the res...

There is a general assumption that a 15-year loan is smarter than a 30-year loan. The radio, television, and Facebook will all tell you how much money you will save with a 15-year loan. The funny thing is that it is the lenders and banks that are promoting the 15-year mortgage. If a 15-year mortgage really is the smarter loan and saves so much money, why are the banks trying to get you to use it? In fact, the United States is one of the only countries that has a 30-year loan. It was created with support from the government The post Is a 15-Year Loan Smarter than a 30-Year Loan? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 https://ift.tt/2LZfalA via IFTTT

A lot of people subscribe to the Dave Ramsey school of thought: pay off all debts, including your mortgage, and you will be financially smart and safe. While I can see why many people think it is smart to pay off a mortgage, I have a different viewpoint. I think it is actually unwise to try to pay off your mortgage in many situations. I do not think it is a good investment or a safe investment for most situations. I do not say this to be a contrarian but from personal experience and the many stories I have heard from The post Is It Smart to Pay Off Your Mortgage? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 https://ift.tt/2LWen50 via IFTTT

There is a general assumption that a 15-year loan is smarter than a 30-year loan. The radio, television, and Facebook will all tell you how much money you will save with a 15-year loan. The funny thing is that it is the lenders and banks that are promoting the 15-year mortgage. If a 15-year mortgage really is the smarter loan and saves so much money, why are the banks trying to get you to use it? In fact, the United States is one of the only countries that has a 30-year loan. It was created with support from the government The post Is a 15-Year Loan Smarter than a 30-Year Loan? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 https://ift.tt/2LZfalA via IFTTT

A lot of people subscribe to the Dave Ramsey school of thought: pay off all debts, including your mortgage, and you will be financially smart and safe. While I can see why many people think it is smart to pay off a mortgage, I have a different viewpoint. I think it is actually unwise to try to pay off your mortgage in many situations. I do not think it is a good investment or a safe investment for most situations. I do not say this to be a contrarian but from personal experience and the many stories I have heard from The post Is It Smart to Pay Off Your Mortgage? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 https://ift.tt/2LWen50 via IFTTT

Make That , “Double Skinnies” I thought a “tall skinny” was a Starbucks drink. Apparently, it’s also what people in Nashville call a newly-built, upper bracket home shoehorned into a narrow lot that invariably sits next to its twin — both of which were carved out of a bigger lot after the previous home was torn down. Such homes are (also) characterized by tuck-under garages; high-end finishes (goes with upper bracket); three finished, above ground floors (not sure about a basement); and at least a few locals dismayed by higher density and runaway housing prices. Alternative Name:  “Detached Townhome” Is the phenomenon headed this direction? At least a few local municipalities (Edina comes to mind) effectively prohibit such development, due to zoning rules that prescribe maximum house-to-lot coverage ratios. But, the vertical floor plans and tuck-under garages definitely describe newer-vintage Twin Cities townhomes. See also, “ As Nashville Rapidly Expands, Residents W...

Dual Agency Dilemma #17 Never having represented both the Buyer and Seller in the same transaction (I consider it a classic conflict of interest), one of the questions I have for agents who do act as dual agents is, “how do you navigate things like the Buyer’s walk-thru inspection? Provided for in the standard Minnesota Purchase Agreement, the walk-thru is when Buyers go through the (hopefully) now-vacant home just before closing. The usual checklist:  1) verifying that there are no changes in the home’s condition since the inspection (and that the 2″ deluge the night before didn’t flood the basement); 2) making sure that the home has been left reasonably clean, and that there’s been no move-out damage; 3) that any personal property that’s supposed to be in the home is there — and anything that was supposed to be removed (old paint cans) is; and 4) if the earlier Buyer’s inspection resulted in any Seller-required repairs, making sure that they’ve been completed (it’s the t...