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Searching the Minnesota Real Estate Listings

First of all, most people already know that "MLS" stands for the Multiple Listing Service. But what many people don't know is that the MLS contains all kinds of info that the public CAN'T see, but a Realtor CAN. Now, keep in mind, this information differs greatly from state to state. In Texas, for example, not only does the MLS contain listings of homes for sale, but also everything that's available to RENT as well! How convenient is that???

Here, in my home state of Minnesota, the MLS contains homes for sale - past and present. What John Q. Public can see are only the homes currently listed as "Active" for sale, meaning they are currently available for sale and do not have an excepted purchase agreement in play. The exception to this are many bank owned. Banks have a tendency to keep properties listed as "Active" even if they have multiple offers on them, since only one in ten may ever close.

What John Q. Public CAN see, is any 'active' home for sale in Minnesota, including estimated dimensions and any comments from the selling agent. In conjunction with Minnesota county tax records, a pretty thorough view of the properties history may be painted.

New Development or Established Neighborhood: Which is Right for Your Family?

When considering purchasing a home, what types of areas do you gravitate towards? Is it the brand new development that draws your attention or is it the older, more classic neighborhoods? The assumption that newer is better isn't always true, especially when it comes to the long-term value and appreciation of your home.

The newer developments often offer niceties that lure in buyers: Jacuzzi tubs, vaulted ceilings, four car garages, etc. Sure, these are nice luxuries to have, but have you considered the long-term quality of the construction as well as the overall value of the area? Of course the developers will tell you what the property is worth now, but what about 10, 15, or 20 years from now? Have you ever driven around a now dingy-looking development and think "This area was probably trendy and nice in its day"? What's stopping today's developments from being the crummy looking areas of the future?

There are certainly many new developments that will continue to have charm and hold value, but don't overlook the inherent value of purchasing an older home in an established neighborhood. Often these are the areas with a proven track record of steadily increasing home values and a reputation for being a good neighborhood.

So maybe your money won't buy you all the fancy items in an historically good neighborhood, but don't neglect to consider what will happen to your investment in the future. An older and smaller home (but perhaps better built!) in an older neighborhood might be the way to go.

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Getting the Right Insurance for Your Minnesota Home

Insurance is one of those things you hope to never have to use but you're sure glad you have it when something does happen. And if something does happen to your home, whether simple or catastrophic, it's going to be a good feeling if you are insured properly. Likewise, you're going to have a very bad feeling in your stomach if you realize you were not insured the way you should have been.

There are MANY things to consider when shopping for insurance. The area where your home is located is one of the major things to think about. What natural phenomena is your home susceptible to in your location? You had better make sure you're covered for them! Another important factor to consider is the cost to rebuild your house. Maybe you purchase your home for $150K; that sure doesn't mean you could build an identical house today for the same amount! But if you're only insured for that much, don't plan on getting any more from the insurance company!

Every owner, location, and home is unique, so it's important to find the right insurance for YOU! Talk to friends and family to see if they have trusted insurance agents you can speak with. The key point is "trust". You want to be adequately insured but you also don't want to be over insured; your pocketbook won't like it! If you find an insurance agent you trust, together you can narrow down the right insurance for your situation.

And if you already have some auto or other insurance in place, keep in mind you may be eligible for discounts by having multiple policies with the same company.