Welcome, from the Bandimere Team!

July 16th, 2014

Welcome to Keller Williams Classic Realty, where the Bandimere Team makes moving fun!

This is our blog. Here, you can find helpful and interesting articles with tips and valuable information; recent listings as well as a search tool to lead to other listings you may be interested in; and much, much more.

If at any time you have any questions or concerns, don’t hesitate to call us at
763-746-4944
.

We are also available via email at
info@thebandimereteam.com

Download our free home search app by texting KQ1T7N1YT to 87778.

Find out what your home may be worth today! Get a free market snapshot by visiting www.TwinCitiesMNHomeValues.com

Who do you know that is looking to buy or sell a home? Call us!

Did you know a greener home can add “green” to your homes value?

July 14th, 2015

Many home buyers are looking for and recognize the long term value of environmentally friendly homes.


Here are some easier ways to add “green” value to your own home.Eco Friendly House

• Buy Energy Star rated appliances & lighting

• Add a recycling center to your kitchen, mudroom or garage

• Use “low-maintenance” recycled products for your next project such as a deck

• Consider more sustainable flooring options such as bamboo or cork

• Improve your insulation and replace or repair older windows and doors

• Plant more trees for cooling shade and curb appeal

SOURCE: 2015 Keller Williams Realty, Inc.

Blaine assisting in Oak Park Plaza renovation project

July 1st, 2015

The city of Blaine will help a Chicago developer rehabilitate an aging shopping center.

The city of Blaine will be providing $2.1 million in tax increment financing assistance to help a Chicago development company renovate Oak Park Plaza. Photo by Eric Hagen.

Oak Park Plaza was developed in the early 1960s at the southeast corner of 109th and University avenues. It was once home to a grocery store, a pharmacy, a barber, beauty salon, Salvation Army thrift store, dry cleaner and restaurants. Today, Frattalone’s ACE Hardware and Star Liquor are the only tenants left. In between are dark windows plastered with “for lease” signs.

According to Executive Vice President Hugh Robinson, Tri-Land Properties Inc. is planning to demolish a portion of the north side of the strip mall that was home to grocery stores, such as Piggly Wiggly and Jubilee Foods, and build a new 45,000-square-foot space for Cub Foods. The other 61,000 square feet of the mall would get a face-lift and interior remodeling, and a parking lot and storefront sidewalk would be reconstructed.

Robinson said Tri-Land is investing $12 million into this project. In addition, the city of Blaine will be giving $2.1 million in total tax increment financing assistance. Groundbreaking is tentatively scheduled for later this year, but Robinson said Tri-Land has some more environmental reviews to complete.

“We need this. The residents of the area support this,” Council Member Mike Bourke said.

Council Member Dave Clark has heard some question why the city would offer tax increment financing dollars to bring another grocery store in.

“This is not about subsidizing a Cub Foods store,” Clark said. “This is about economic development. Anyone who has driven by the corner of 109th and University knows that corner is in pretty tough shape.”

Clark believes this project could provide the “spark” that will lead to more redevelopment along the University Avenue corridor, which is a border between Blaine and Coon Rapids.

Oak Park Plaza is the oldest shopping center in Blaine, developed when Blaine was still a village. It was built by Vern Donnay, who was also responsible for bringing in a 1,500-home neighborhood just south of the strip mall.

Another building was added in Oak Park Plaza in 1983 and will also be renovated as part of this new project.

Tri-Land bought the property 10 years ago and at that time believed Rainbow Foods would be relocating from its site near Northtown Mall, according to Robinson. That deal fell through, and the Chicago firm was unable to find a grocery tenant. Empty cash registers and check-out lanes are still visible through the large pane glass windows.

Robinson said Tri-Land is also talking with a couple of other potential tenants who are waiting to see the redevelopment happen before signing any lease. All vacant space will be gutted and updated to meet current codes and to bring in new lighting and HVAC equipment.

Mayor Tom Ryan said he spoke with “a lot of happy people that want this center to come back” as he was getting a screen door repaired at ACE Hardware the day before the June 18 meeting when the council approved the tax increment financing assistance.

“We do a lot of exciting things for the east side of town. This is fun to do something on the west side of town,” Ryan said.

eric.hagen@ecm-inc.com

homes for sale in Coon Rapids 250k-500k

June 4th, 2015
Click here to view property grid.

June GARDENING Tips

June 4th, 2015

Prune candles on dwarf pines and new growth on spruce to limit size. Best time is by June 1st while growth is still green.

Continue planting trees, shrubs, perennials and annuals.

Daffodils

Raise mower blade for summer mowing and fertilize again.

Deadhead fading flowers on annuals and perennials to promote re-blooming.

Cut back withered and brown tulip and daffodil stalks. Dig and divide for fall planting or leave in ground for next spring blooming.

Prune hedges throughout late spring and summer to maintain desired shape (boxwood, barberry, privet, cotoneaster and yew).

Dead head faded roses back to shoots with 5 leaves.

 

May GARDENING Tips

May 5th, 2015

Continue planting trees and shrubs. Watering Can

Add compost to perennial beds, shrubs and vegetable gardens.

Plant annuals – geraniums, impatiens, petunias, marigolds, etc. (wait until the last chance of frost or be prepared to cover).

Prepare containers and window boxes for planting. Make your own hanging baskets or purchase them.

Keep rose bushes on a planned spray and fertilizer schedule to maximize blooms. Prune rhododendrons and flowering shrubs soon after flowering.

Water lawns as needed. Lawns require at least 1 inch of water per week to remain green and healthy. Early morning watering is best to prevent the spread of disease. 

Water lawns as needed. Lawns require at least 1 inch of water per week to remain green and healthy. Early morning watering is best to prevent disease.spread of disease.

Real Estate News

April 17th, 2015

loan-149873_640Breaking News; Regarding Credit Reporting Agencies

 

For decades, consumers have been complaining about the challenges with disputing items with the credit reporting agencies. Finally, the credit reporting giants TransUnion, Equifax and Experian announced that they have agreed via a settlement with the New York Attorney General’s Office to overhaul their dispute investigation process. Finally “reasonable investigation” will really mean reasonable. This is the first major change in more than a decade and it has some very promising dynamics, so let’s break them down.

  • First, the bureaus are going to staff and train employees to read the information provided by the consumer and have power to make an accurate decision based on the data. Prior to the settlement, the bureaus took the word of the data furnisher most every time regardless of the paperwork provided by the consumer.

 

  • Next the bureaus will impose a 6 month waiting period for medical debt to be reported to a consumer’s credit report. This will allow for any discrepancies to be resolved ahead of time. Also, once a medical debt has been paid, it will be removed from the credit report!

 

  • Last, the “Big Three” as they are known, will post to their paid websites that consumers can access their credit for free through www.annualcreditreport.com. They will also have to provide an additional report if they experience a change in their report after initiating a dispute. This may be the most significant change we have seen in regards to credit reporting procedures.

 

All of these changes will go into effect over the next 6-36 months as this is a massive undertaking by the bureaus. It should prove to be extremely helpful for consumers and companies to expedite and complete investigations. Source: Chad Kusner, Credit Repair Resources

 

April GARDENING Tips

April 3rd, 2015
  • crocus-318291_640Visit nurseries to get ideas and compare quality and price for spring planting.
  • Mid-April – Uncover Rhododendrons and evergreens wrapped in burlap.
  • Prune forsythias after flowering an cut back dead rose canes.
  • Plant cool weather annuals, such as pansies.
  • Dethatch or aerate lawn.
  • Edge beds and add new mulch.
  • Fertilize lawn with weed and feed mixture.
  • Spray ornamental flowering trees at bud break to help prevent fungus from spreading.

BUILD HOME EQUITY FASTER

March 26th, 2015

eq•ui•ty

Function: noun

1 a : a right, claim, or interest existing or valid in equity b : the money value of a property or of an interest in a property in excess of claims or liens against it c : a risk interest or ownership right in property


 

Equity is the part of your property that you actually own. If you own property that’s worth $250,000, and you have a mortgage with a remaining loan balance of $100,000, your equity in the property is $150,000. Repeat home buyers usually rely to some extent on the equity in their current home to help buy their next home. The more equity you have, the larger the possible down payment for the trade- up home.

Money

Home equity also equals security, especially at the beginning of a mortgage loan, so little of your payment goes to principal that equity builds slowly.

Naturally, building home equity comes at a price, usually in the form of larger payments. If building home equity means incurring debt to make ends meet, then you’ve defeated the purpose of building equity in the first place.

One way is to make additional principal payments. Additional principal payments make sense when you save more on your mortgage interest expense on an after-tax basis than you would earn on your investments on an after-tax basis.

If you are able to deduct your mortgage interest from your income taxes and your marginal federal income tax rate is 27 percent or higher, then your after-tax cost of mortgage debt is between 3 and 4 percent. For instance, if you earn 4 percent pretax on a five-year CD, and you’re in the 27-percent bracket for federal income taxes, the after-tax return is less than 3 percent.

Before you start making additional principal payments, use one of the many amortization calculators you can find on the internet to do the math – how much interest you would save if you made additional principal payments and how much it would shorten your loan and increase your home equity.

The other way to build home equity faster is to refinance. Recently, the reason most people have refinanced is to lock in a lower interest rate and/or lower their monthly payment. But you can also refinance to shorten the term of your mortgage, which builds equity.

If you had a $200,000 30-year ARM at 8.13 percent and replaced it with a 15-year fixed rate loan at 6.75 percent, your monthly payment would go from $1,485.69 to $1,769.82.

Most sellers use part of their equity to pay selling costs, such as brokerage commissions and transfer taxes. Also, if you are delinquent on your property taxes, or have other liens secured against the property, such as an IRS tax lien, these would have to be paid at closing.

SOURCE: 2015 Keller Williams Realty, Inc.

Condo or Single Family?

March 20th, 2015

Twin Cities ranked most affordable for homebuyers

November 17th, 2014

Minneapolis-St. Paul does not have the cheapest housing stock in the nation, but its higher wages make it the most affordable city for home ownership among the 25 largest U.S. metro areas, according to a new report.

Interest.com calculated its new rankings based on several criteria. The study found that the median household income in the Twin Cities is a little more than $67,000 — nearly $15,000 above the national average — and the median-priced home is nearly $213,000.

The margin isn’t as great as last year, but the median income exceeds the wage requirements for purchasing a home by 23 percent. These figures, when combined with median property taxes and homeowners insurance rates, helped lift Minneapolis-St. Paul from the No. 2 spot in 2013 to No. 1 this year.

“The places that are the most unaffordable are locked in by some geographic constraint. Minneapolis (area) can grow 360 degrees. Most of the time when you talk about this, you talk about sprawl and you think of it in negative terms. But the bottom line is,sprawl keeps your prices down,” said Mike Sante, managing editor of Interest.com.

Atlanta won the crown last year, but swapped rank with the Twin Cities this year. St. Louis, Detroit, Pittsburgh, Baltimore, Phoenix, Washington, Dallas and Houston rounded out the top ten.

Interest.com suggests that median-income workers cannot afford a home in the remaining large metro areas because the wages don’t match the real estate costs.

San Francisco, not surprisingly, scrapes the bottom with San Diego, New York, Los Angeles and Miami also receiving “F” scorecards. Moving up from the bottom, the other unaffordable cities are Boston, Seattle, Sacramento, Milwaukee, Denver, Portland, San Antonio and Tampa.

“Low mortgage rates are helping home affordability to some extent, but the key ingredient – which has been missing to this point – is substantial income growth,” Sante said in a statement. “Affordability would improve at a faster pace if wage growth would pick up.”

For comparison, the median-income earner in Minneapolis-St.Paul may make about $10,000 less than the median-income earner in San Francisco. But, the median-home price in the Twin Cities is $213,000 to San Francisco’s $770,000 — a gap that the wage difference doesn’t even come close to making up.

Sante says Minneapolis-St. Paul has a great housing market with better median-priced inventory than other cities, but says wages have to keep growing.

Year-over-year wages grew by an average of 2 percent across the 25 largest metropolitan areas, but the Twin Cities only grew 1.38 percent this year.

“If that continues, homes in the Twin Cities will be much less affordable in a decade,” Sante said.