Solution To A Wet Twin Cities And All The Rain

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: IRA Investing, portfolio of investment properties, Self-Directed IRA Investing 101

Your Deduction…Your Choice

March 13, 2013 by Financemyhome · Leave a Comment

Taxpayers are allowed to decide each year whether to take the standard deduction or to itemize their deduction when filing their personal income tax returns. Roughly, 75% of households with more than $75,000 income and most homeowners itemize their deductions.

The 2012 standard deduction, available to all taxpayers, regardless of whether they own a home, is $11,900 for married filing jointly and $5,950 for single taxpayers.

Let’s look at an example of a homeowner couple with a $150,000 mortgage at 3.5%. The standard deduction would give them $2,650 more than the total of their interest paid and property taxes of approximately $9,250. If they were in the 28% tax bracket, the actual tax savings would be $742.00.

When mortgage rates were considerably higher, many people expected the interest and property taxes to easily exceed the standard deduction but with today’s low rates, a comparison is certainly justified.

There are other things that could come into consideration like charitable contributions, medical expenses and casualty losses. Tax professionals will compare available alternatives to find the one that will benefit the taxpayer most.

For more information, see www.IRS.gov and consult a tax advisor.

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Tagged: actual tax savings, homeowners, income tax returns, property taxes, standard deduction, tax advisor, Tax professionals, Taxpayers

Interest rates – a historical perspective

March 12, 2013 by Financemyhome · Leave a Comment

We always here that “rates are lower than they’ve ever been”. In most cases that is true. Rates have been progressively declining. Freddie Mac actually has a 10 year chart that will demonstrate this on a month to month and year to year basis. You can find the data here for 30 year loans- http://www.freddiemac.com/pmms/pmms30.htm In today’s fast market, you will find that your housing dollar will buy you more than ever before. In fact, if you haven’t considered either moving or refinancing, you definitely should. I would be happy to provide you the information you need to make a decision or to provide you a list of available properties. Just call or email me and I will help.

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Tagged: fast market, Freddie Mac, interest rates, rate

Time is a Finite Resource-Use it wisely

March 7, 2013 by Financemyhome · Leave a Comment

Every day I am reminded of the one thing we all must manage-it’s our TIME. How we choose to spend it is somewhat within our control. A friend of mine who runs a painting company wrote an article about “Your Weekend”-Do it yourself or hire a professional. I think it is an important read. In fact, it has applications that apply to other activities besides painting. Priorities. Choices. Quality of YOUR life. Think about delegating what you can to the appropriate professionals and carving out some personal time.

DIY vs Pro Jerry

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Tagged: DIY vs Pro Jerry, do-it-yourself, Time

Twin Cities Low Housing Inventories Indicate a Trend in Minneapolis & St Paul Homes

March 6, 2013 by Financemyhome · Leave a Comment

Low inventory is a relative term depending on how you’re comparing it. Would the comparison be to total number of homes on the market last year, homes in a certain price range or homes in a certain area? In some situations, it’s a combination of all of those things.

In any given market, inventories will fluctuate based on area and price range. The National Association of REALTORS® considers a balanced market to be six months’ supply of homes. If it takes longer than six months to sell, it is thought to be a buyer’s market and less than six months, a seller’s market. Most buyers and sellers probably feel inventory equilibrium is more like three month’s supply of homes.

Inventory has a direct impact on price. During the housing bubble, demand decreased, supply ballooned to four million houses and prices dropped dramatically. Increased inventories due to foreclosures, bank’ revised lending practices and builder’s lack of new housing starts each contributed to the dramatically lower prices.

As the market has recovered, economic conditions have improved, banks have loosened their requirements, interest rates have remained low, foreclosures have slowed and gradually, the inventory has been reduced to approximately two million houses. When demand is constant but inventory is reduced, price tends to increase because the same number of people are trying to buy a smaller than normal number of homes.

Based on the low mortgage rates that have been inching up each week in 2013 and an improving consumer confidence level, most markets are experiencing some increase in demand. With inventory decreasing, buyers in the marketplace can see that prices are increasing.

Just as signs of spring can be seen to be just around the corner, it should be recognized what direction prices will be moving. Hindsight is 20/20 but we can’t purchase or sell in the past. We need to make decisions today on what we think will happen in the future.

If you’re curious to know what inventory conditions are for your specific market, send me an email with the price range and area and I’ll send you a report. john@johnmazzara.com

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: inventory, Low Housing Inventories, REALTORS, Twin Cities Low Housing Inventories

RE/MAX 40 year convention in Las Vegas

March 4, 2013 by Financemyhome · Leave a Comment

I just returned from my first RE/MAX convention. I have been with RE/MAX for 17 of my 27 years selling real estate, but this was the first time I had decided to attend their convention. All I can say is “Wow”. The people, the events, and the information was terrific. The show “KA” at the MGM was pretty amazing as well! I am excited to be back at work and have started to apply my new found information for my client’s benefit. The Spring market in Minnesota is going to be fantastic. If you are a home buyer or home seller, let’s make it happen!

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: History of RE/MAX, Home Buyer, home seller, RE/MAX, RE/MAX Balloon Story, RE/MAX Convention, sell homes

Twin Cities Homeowners Refinancing Again? Think about it.

March 3, 2013 by Financemyhome · Leave a Comment

We’re constantly bombarded by lenders to refinance our mortgage under a variety of programs. The volume of offers can almost make you numb to the rational consideration.

There are common rules of thumbs that homeowners and agents use such as not refinancing more often than every two years or there must be at least 2% savings from your previous mortgage rate may not always be accurate. Rules like this are a cliché. Only a discussion and analysis can provide you with the right information to make an informed decision.

The reality is that if you can refinance for a lower rate and you’ll be in the home long enough to recapture the cost of refinancing, it should be considered. The costs of previous refinancing that haven’t been recaptured by monthly savings may need to be added to the costs of the new refinance.

Take a look at the chart that shows the average rates according to Freddie Mac for 2012. They are lower today than they were in January of 2012 and for the ten years before that.

Refinancing may save you a substantial amount of money, especially if you’re going to be in your home for a long time. It is definitely worth investigating. To get a quick idea of what your savings might be, call me. I will be happy to help you determine what rate and programs might work best for you based on your situation. 15 minutes on the phone could save you a ton over the life of your loan.

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: homeowners, refinancing, Twin Cities Homeowners

Twin Cities First Time Buyers

February 22, 2013 by Financemyhome · Leave a Comment

This video is typical of a first time buyer I work with that has recognized the opportunity in real estate today. Many many of my friends started off with an owner occupied duplex and later leveraged that into substantial wealth. I am aware of many special loans and grants that might help you achieve home ownership. Let me help you make the right decision for yourself and family.

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: First Time Buyer, Home Ownership, real estate, Twin Cities, Twin Cities buyers

Twin Cities Homes Sell Better When Updated with a Fresh Coat of Paint

February 21, 2013 by Financemyhome · Leave a Comment

Article provided by: Jerry Fancher Fresh Coat Painting

Need a painting idea for your home? Whether you are looking to freshen up a room or trying to increase your home’s resale value, a fresh coat of paint can work wonders. Once you have an idea of what you are looking for in a new look, talk to your painting contractor to work out the details to put you on your way to a dream room.

Here are four simple ideas to get you started:

1. Take it to the beach– A great design for bathrooms, kid’s rooms or really any room is to get beachy with it. From soothing cool tones to warm tropical colors, the possibilities are endless with any seashore theme. Using this theme, you can turn a boring bathroom into a spa-like atmosphere or use colors like navy and light blue to turn a boy’s bedroom into a nautical haven.

2. Getting your stripes– A roll of good painter’s tape (one that won’t bleed paint out of the sides) will let you do all sorts of fun geometric designs with paint. From zig-zags, to chevrons, to simple horizontal and vertical stripes, painter’s tape is really only limited by your imagination. It will leave sharp lines that look professional, even if you do it yourself.

3. Look up– Here’s a unique idea in interior painting: don’t forget about the ceiling. By keeping the walls simple and getting creative with the ceiling (think night skies, stars and space), you can give a fun atmosphere to any bedroom or game room. How lovely would it be to sleep under the stars every night, regardless of weather?

4. Faux, yes you did– Another low cost, easy fix for your rooms is faux painting. You can use a light glaze to color wash, rag-rolling to create unique texture, sponging and many more faux painting designs for a special look. You can find tutorials for basic faux designs online or in local Eden Prairie paint stores that are really simple to master. For anything more complicated, however, you might find it easier just to call a painting contractor for more advice or to book them to do a professional job.

–
Jerry Fancher Owner/Estimator
Fresh Coat Painters Location 91201
9637 Anderson Lakes Parkway #304
Eden Prairie, MN 55344

612-260-3905 Appointments
612-386-4367 Cell
jfancher@freshcoatpainters.com
www.freshcoatedenprairie.com

Look for us as the painters on DIY Network Bath Crasher episodes

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: faux painting, fresh coat of paint, painting contractor, Painting Home

If It Shows Better… – 2/18/2013

February 20, 2013 by Financemyhome · Leave a Comment

If it shows better, it will probably sell faster and maybe for more money. Once your home is on the market, it’s time to look at it like a commodity and through the eyes of potential buyers. In all likelihood, you’ll need to take care of these items eventually, so do them now to help it sell sooner.

1. Make repairs – it doesn’t matter if it’s been that way since you bought it. You need to fix it so that the buyer doesn’t think that the rest of the house is about to fall apart.
2. Not too personal – you may have bought your home to express yourself but if the buyer can’t see themselves in the home for all of your things, it’s going to take longer to sell than you want.
3. Drive-up appeal – the old saying “you never get a second chance at a first impression” applies to your home too. They may never even get out of the car to come inside.
4. The nose knows – it may not smell like home but it shouldn’t smell like a place they would never consider living.
5. Neutral colors, decor, etc. – these are not decorating tips you’ll see in magazines but the truth is that bold colors and designs are difficult for most people to see beyond. They’ll imagine their things better in neutral surroundings.
6. Less looks like more – removing some of the non-essential things from your home will eliminate clutter and make the home feel larger. The same suggestion applies to cabinets and closets.

A confused mind will not make a decision. Identify and eliminate items that could derail a potential sale. The preparation you make in the beginning will help the presentation to your buyers. I have many more tips to help you sell faster for a better price-call me to discuss.

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: home market, home sale

RE/MAX Convention is next week in Las Vegas-Turning 40!

February 18, 2013 by Financemyhome · Leave a Comment

I have been with RE/MAX for 17 of the past 27 years. I can honestly say I work with some of the best in the business. I wouldn’t want to sell homes with any other company. From the people, the resources, the support-it really is a wonderful environment. If you are an agent or consumer, I encourage you to take a look at what they have to offer. Below are some videos from our founder that give you a little history of the name and the balloon.

History of RE/MAX name

RE/MAX Balloon Story

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: History of RE/MAX, RE/MAX, RE/MAX Balloon Story, RE/MAX Convention, sell homes

FHA Loans Getting More Expensive-MIP Will Last Longer Than Previously Insured Loans

February 12, 2013 by Financemyhome · Leave a Comment

The 3.5% down payment on FHA loans could be more expensive for buyers than expected. Beginning April 1, 2013, the mortgage insurance premium will go up by .1% to 1.35% which may not even be noticeable to most would-be homeowners. The staggering increase will occur on 6/3/2013 when FHA’s policy on the duration of the required mortgage insurance will be increased for the life of the mortgage

There are buyers that qualify on income and credit who may not have the necessary additional down payment required for 80% and 90% conventional loans. The 3.5% FHA program has provided a great vehicle to get into a home with a minimum amount of cash.

Homeowners who expect to be in their home long term can refinance with a conventional loan without mortgage insurance once the equity has increased due to amortization and appreciation. For buyers to avoid these increases, they will need to act now to get the FHA commitment issued prior to these change dates.

Sincerely,

Isn’t it nice to know that you have a friend in the business that you feel comfortable introducing to your friends, family members, and neighbors who could use my help.

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: additional down payment, amortization and appreciation, conventional loans, FHA loans, Insured Loans, mortgage insurance premium

Before You Leave Home…Action Items To ConsiderBefore You Leave Home…Action Items To Consider

February 5, 2013 by Financemyhome · Leave a Comment

The last thing you want to do while you’re on a trip is to worry about someone burglarizing your home. Use this checklist to add some peace of mind to your travel plans.

• Ask a trusted friend – to pick up your mail and newspaper and keep the yard free of trash and advertisements.
Stop your mail but maybe not your newspaper – you can easily handle this online by going to the US Postal Service’s Hold Mail Service. A recent story implicated an employee from a major newspaper who was passing customer hold requests to burglars.
• Don’t post about your trip on Facebook and Twitter until you return – some burglars actually look for this type of announcement to schedule their activities.
• Do notify police and/or neighborhood watch – especially if you’re going to be gone for more than just a few days. Let your monitoring service know when you’ll be gone and if someone will be checking on your home for you.
• Light timers make it look like someone is home – use several set for different times to better simulate someone at home.
• Do unplug certain appliances – TVs, computers, toaster ovens that use electricity even when they’re off and to protect them from power surges.
• Don’t hide a key – burglars know exactly where to look for your key and it only takes them a moment to check under the mat, above the door, in the flower pot or in a fake rock.

These easy-to-handle suggestions may protect your belongings while you’re gone while adding a level of serenity to your trip.

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: burglarizing, leaving home, level of serenity

Watch This Video About Disability And Bad Attitude

February 4, 2013 by Financemyhome · Leave a Comment

WOW. Another video that makes you think. How many times have we seen people who have had more obstacles to overcome than most go on to achieve wonderful things? You may have heard the quote regarding attitude and altitude. This video once again demonstrates how we each have our own set of issues and how we choose to deal with them determines outcome. Powerful stuff. Always puts things in perspective

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: altitude, attitude, Bad Attitude, Disability

Reverse Mortgages For Purchase Available In MN

February 1, 2013 by Financemyhome · Leave a Comment

I just met with a long time mortgage originator who is offering reverse mortgages for the purchase of a primary home. This is very exciting as not many companies offer this as a mortgage option. Now, a senior who is 62 years old has another financing option available to them. Attached are the information sheets that I received from the lender that will explain the program. Please contact them directly to discuss how the program works and how it could be of benefit for you. If you are in need of a real estate agent in the Twin Cities to assist you in locating a new home please give me a call at 952-929-2577. Together we can make it happen!

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: real estate agent, Reverse Mortgages

What’s It Going to Take For You To Be Convinced Of Homeownership?

January 29, 2013 by Financemyhome · Leave a Comment

How much evidence is needed to make a decision to get out of the rent race and become a homeowner?

Compare your rent with a mortgage payment on a similar size property. If you want a larger home than your current one, use the rent that property would require instead of what you’re currently paying. If it’s considerably cheaper, you may not need any further encouragement.

By the time you consider the principal reduction, appreciation and tax savings, your monthly cost of housing could be much less than the rent you’re paying.

The principal reduction included in each payment is like a forced savings account that increases as your mortgage balance decreases. Your equity in the property will also grow due to appreciation. The equity is part of your net worth and an investment in your family’s future.

The income tax savings can be an additional financial consideration if the combined interest and property taxes exceed the allowable standard deduction.

Trends are showing that both tenants and homeowners are staying in their homes longer. It’s been said that whether you rent or own, you’re paying for the home. Do you really want to buy the home for your landlord? Let’s make it happen today-call me at 952-929-2577

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: homeowners, Homeownership, income tax savings, monthly cost of housing, mortgage balance, mortgage payment, principal reduction, property taxes, size property

Selecting The Right Color Paint

January 24, 2013 by Financemyhome · Leave a Comment

Have you ever picked a color from the myriad of paint samples available, put it on the wall and decided that it was all wrong? It shouldn’t have to be that difficult but trying to pick the perfect color from those little swatches is just not that easy.

Painters and decorators suggest you buy a small amount of the colors you’re considering. Your paint store should be able to mix them in any brand and any color. Once it’s on the wall, it will be easy to determine if it needs to be lighter or darker or if it’s completely wrong.

Take them home and paint a 2′ x 2′ area on the wall. If you’re concerned about testing the colors on your wall, you can paint some sample boards that can be easily moved around to see how they’ll look with the furniture, floors and other items in the room.

Instead of guessing what it’s going to look like, you’ll actually see how it looks during different times of the day, in natural and artificial light.

While $30 to $40 a gallon for paint may seem like a lot of money, the cost in time and labor to put it on the wall is even more.

It’s worth taking the time to test the color on the wall before you buy all the paint needed.

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: house paint, myriad of paint

Top Ten Housing Predictions for 2013-Let’s See What Happens

January 23, 2013 by Financemyhome · Leave a Comment

Hope he’s right. Sounds very encouraging:

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: 2013, Housing Predictions

Sooner is Better than Later-Twin Cities buyers shouldn’t wait

January 22, 2013 by Financemyhome · Leave a Comment

Buyers who have delayed purchasing a home due to concerns about what might happen to the tax laws affecting home ownership should feel comfortable about getting back in the market. The recent legislation passed by Congress and signed by the President continues to value homes as a favored investment.

For a summary of specific real estate provisions in the “Fiscal Cliff” bill, click here http://www.realtor.org/articles/real-estate-provisions-in-fiscal-cliff-bill

Whether the delayed purchase is for a home to live in as your principal residence or to use as rental property, taking action sooner is better than later.

Reasons to buy now:

1. The house payment with taxes and insurance is probably cheaper than the rent.

2. Rents will continue to rise making the difference even greater in the future.

3. Lock-in the principal & interest payment with a fixed-rate mortgage.

4. 30 year mortgage terms are available to most borrowers.

5. The mortgage interest deduction is intact for the majority of taxpayers.

6. The capital gain exclusion for principal residences up to $500,000 remains in place.

7. Prices are going up due to lower inventories and several years of low housing starts.

Contact me about any specific questions you have or information you need John-952-929-2577 Visit http://www.MplsRealtor.com for stats that will confirm the uptrend throughout the majority of the Twin Cities market.

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: capital gain exclusion, Fiscal Cliff bill, fixed-rate mortgage, Home Ownership, house payment, interest payment, Mortgage Interest Deduction, mortgage terms, principal payment, principal residence, real estate provisions, Rental Property, Twin Cities buyers

Mortgage Forgiveness Act-Report For YOU

January 21, 2013 by Financemyhome · Leave a Comment

The attached report will cover some of the highlights of the extended program. If you find that you or someone you know is in need of some information regarding options that might be available for them if they are “underwater” on their loan, then share this report. EVERY situation is different. Please call me to discuss yours and I will try my best to help wherever I can. There might be other options that you are not aware of as we “only know what we know”. Let’s talk.

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Tagged: Mortgage Forgiveness Act

Get Your Offer Accepted-Tips to buying a home in the Twin Cities real estate market today!

January 18, 2013 by Financemyhome · Leave a Comment

As the market shifts from a buyer’s market, it’s good to know how to improve your chances to have the seller accept your offer.

Once you decide on a home, don’t waste time; write an offer and submit it as soon as possible. Competing with another buyer happens more frequently than you’d expect. Multiple offers are a seller’s advantage but here are some tips to level the playing field:

* Realistic offer – don’t give the impression you’re trying to “steal” the property. Submit comparable sales that justify your offer.

* Pre-approval letter – this satisfies seller’s biggest concern that an unqualified buyer will unnecessarily take the home off the market and the seller will lose other opportunities.

* More earnest money – it shows you’re serious and makes the seller feel like the contract will actually close.

* Minimize contingencies – from a seller’s standpoint, each contingency is one more reason why the sale won’t go through. They feel the home is “off the market” and they’re in limbo.

* Shorten inspection period – your agent can help you set a reasonable date but let the seller know you’re willing to close prior to that if possible.

* Write a personal letter to the seller telling them why you want their home – this can be the emotional connection to the seller that makes the difference in you getting the home.

A seller wants to feel confident that the offer they accept will actually close so they can plan for their next move. Following tips like these can definitely affect negotiations and help put together an offer that is more likely to be accepted. I have been selling homes for 26 years. Let my experience help you make the right decision for yourself and family.

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: Buying A Home, Real Estate Market, Twin Cities Real Estate, Twin Cities Real Estate market

Bloomington Homes-Minnesota Home Improvement Money Available

January 17, 2013 by Financemyhome · Leave a Comment

One of the things I try and do is monitor the various city programs for opportunities for my clients. I just got the email from the City of Bloomington announcing some of their home improvement funding. More can be learned from visiting their site at http://www.ci.bloomington.mn.us/cityhall/commiss/hra/hra.htm

It might be worthwhile looking into this if you have an upcoming project you’d like to consider doing.

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

612-386-7027

952-929-2577

How Can I Help You?

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Tagged: Bloomington Homes, Bloomington Homes Minnesota, home improvement funding, Minnesota Home Improvement

How “Healthy” Is The Minnesota Unemployment Picture and how might it affect our Twin Cities real estate market going forward?

January 17, 2013 by Financemyhome · Leave a Comment

Have you ever wondered “will property increase in value in the future”? Here is one metric to consider-the unemployment rate. Here is a link to Minnesota’s information. http://www.deptofnumbers.com/unemployment/minnesota/minneapolis/

You need a job to buy a home. More jobs=More people who can purchase a home. The Twin Cities employment markets are healthy. We do have unemployment, but we have lots of people working in a number of diversified industries. Overall, we are not dependent on one company or industry. Many people were affected negatively by the recession. Once their credit is repaired, and if they feel secure in their employment, then they MAY want to purchase a home. Currently, there is an upper end apartment BOOM occurring. These apartments rent from $1300-2500. I predict that many renters will once again turn to home ownership-especially if buying a home is CHEAPER than renting. In many cases, with interest rates at historical lows, this is in fact a possibility. I would like to help YOU involved with home or rental property. Call me at 952-929-2577 and let’s see what we can do together.

Sincerely,

RE/MAX Results

John Mazzara

Broker Associate

CFP CLU ChFC CEBS MBA MS CMB

7300 France Ave S #410

Edina, MN 55435

John@johnmazzara.com

http://www.revenue.state.mn.us/Forms_and_Instructions/2011/crp_ldin_12.pdf

612-386-7027

952-929-2577

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Tagged: buy home, Minnesota Unemployment Picture, rent home, Twin Cities Real Estate market

Mortgage Insurance Deductibility and 2013

January 15, 2013 by Financemyhome · Leave a Comment

Yipee. Mortgage insurance is going to be deductible again in 2013. See the rules and see if you qualify, as not everyone or every type of insurance is eligible. Here is a link: http://www.mgic.com/ordering-mi/tax-deductible.html

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Tagged: 2013, Mortgage Insurance, Mortgage Insurance Deductibility

Mortgage Tax Forgiveness Act Of 2007 Extended For 2013

January 14, 2013 by Financemyhome · Leave a Comment

Yes it is true. Under CERTAIN instances, you may have a short sale or foreclosure and not incur the tax on the amount of mortgage debt that was forgiven. NOT everyone can qualify. For those that can, what a relief. Tucked in the Fiscal Cliff negotiations was this provision. So, you still have one more year. If this is something that you’d like to discuss as it may relate to your situation, please give me a call.

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Tagged: 2013, Foreclosure, Mortgage Debt, Mortgage Tax, Mortgage Tax Forgiveness Act, short sale

Minnesota 2012 CRP forms

January 7, 2013 by Financemyhome · Leave a Comment

If you are a tenant or a landlord, you will want to get on the CRP forms for 2012. Here is a link to the state of MN department of revenue where you can find the forms. These need to be delivered by end of January, 2013 for 2012 rental year.

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: CRP forms, landlord, Minnesota 2012 CRP forms, MN department of revenue, rental year, tenant

New Year Resolutions-Happy New Year To All

January 3, 2013 by Financemyhome · Leave a Comment

After spending the holidays with family and friends, this is a time of the year to start thinking about changes to make in our lives, both personal and in business. We wanted to share one of ours with you.

Our goal is to become your REALTOR® for life. We want you to think of us first when you need to buy or sell and that you’ll recommend us to your friends too. That kind of trust has to be earned and we’re committed to helping you be a better homeowner even when you’re not buying or selling.

The strategy is simple. A well-informed homeowner will make better decisions. We’ll periodically offer information through articles and social media on a wide variety of home-related topics like maintenance tips, tax law changes, financing suggestions, insurance, equity building strategies, and rental property investments.

Please contact us if you need a recommendation on a service provider. Our experience has built a list of reputable and reasonable contractors that you can rely upon. When you have any kind of home-related questions, I hope you’ll have the confidence to call us.

Happy New Year. We sincerely look forward to helping you or your friends-John Mazzara 952-929-2577 or 612-386-7027

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: 2013, equity building strategies, financing suggestions, home-related topics, homeowner, insurance, maintenance tips, New Year Resolutions, Realtor, rental property investments, tax law changes

Take a helicopter ride over Minneapolis St Paul

December 30, 2012 by Financemyhome · Leave a Comment

This showcases the cites that we know and love-from a few miles high in the sky. I think you will enjoy it.

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Tagged: helicopter ride, Minneapolis St Paul

Avoiding Unexpected Expenses – Might Be Something to Consider

December 30, 2012 by Financemyhome · Leave a Comment

It’s common for sellers to consider offering and buyers might find it an incentive, but a growing number of homeowners are purchasing the home warranties themselves to limit the unexpected expenses of repairs and replacements.

A home protection plan is a renewable service contract that covers the repair or replacement of many of the components in a home. Some homeowners especially like the convenience that it organizes a qualified service provider as well as the cost of the items.

There are a variety of companies that offer home warranties and the coverage may differ but the majority of things will include heating, air conditioning most built-in and some free-standing appliances, as well as other specific items. Additional specific coverage may be available for other things like pool and spa equipment.

Some investors are even placing this coverage on their rental properties to limit the amount of maintenance repairs during the year. It is a viable alternative to managing the financial risk and the stress dealing with unexpected expenses. There are a number of options from utility providers as well. I have them for myself and on a rental. Call me and I’ll let you know what I am doing.

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: home protection plan, home warranties, homeowners, incentive, Investors, rental properties, Unexpected Expenses

Merry X-mas and Happy Holidays

December 26, 2012 by Financemyhome · Leave a Comment

I recently received this video from a client. It is a creation of “Jib Jab”. They have awesome videos that you can create. I had to make one of my family and share it with you. Here it is. I hope you like it. Wishing you all the best throughout 2013!

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: Christmas, Happy Holidays, Merry Christmas, New Year 2013

1031 Exchanges

December 23, 2012 by Financemyhome · Leave a Comment

1031 Exchanges-MAY be the way to grow substantial real estate wealth by deferring taxation and compounding equity

1031 exchanges allow you to sell an investment property and exchange it into a different property. If done CORRECTLY, you will not report the transaction as a taxable sale. Instead, the exchange allows you to defer taxation until a future date. For more information, you can call me. I will direct you to a number of resources that will give you information. One such resource is http://www.ipx1031.com/. From their site, you can register for webinars that explain the process-both introductory and advanced. Part of the process will be disposing of your existing property. You will also need to find qualified replacement property(ies). Let me help you coordinate this process and your exchange. If the process is done incorrectly, you will have a “sale” not an “exchange”. Don’t risk something so important by working with an inexperienced exchange agent. I have successfully helped numerous clients complete their exchanges-let me help you TOO.

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: 1031 Exchanges, compounding equity, deferring taxation, Investment Property, substantial real estate wealth, taxable sale

To Stage or not to Stage a home?

December 21, 2012 by Financemyhome · Leave a Comment

It is always a question I get when I list a home-”what should we do to present our home in the best light” ? Everyone wants to sell their home faster for the highest possible price. One way to do that is to take some time, and “stage” a home. What does that mean? It can mean many things. It can be as simple as cleaning up or removing clutter to make a room bigger. It can also involve a computer generated simulation with one of our technology providers-OBEO. The attached guide will help you evaluate some of the components of staging. Let me know when I can help YOU.

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Tagged: components of staging, stage a home

Down Payment Assistance For Home Buyers In Dakota County

December 20, 2012 by Financemyhome · Leave a Comment

There is a program for first time buyers in Dakota County that just obtained additional funding for mortgage financing. There is 30M available which is projected to help out approximately 200 new home owners. Here is a link to the site where you can learn more about the program– http://dakotacda.org/homebuyers.htm I can help you find your next home. If this program doesn’t work, there might be others. Let’s work together to find options to make home ownership in MN possible for YOU. Call me today to get going.

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: Dakota County, Down Payment Assistance, Home Buyers, home buyers Dakota County

Have you been to this Website?

December 20, 2012 by Financemyhome · Leave a Comment

Have you been to the website http://www.houzz.com ?

Talk about AWESOME! Check this site out for decorating and remodeling ideas. I will warn you that it is completely addicting. If you want, you can create your own idea book and utilize the selections for something of your own. I KNOW you will love the site. Have fun.

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: decorating ideas, house decorating, house modelling, houzz, modelling ideas

Clip Syndicate – The Coolest Thing

December 18, 2012 by Financemyhome · Leave a Comment

I just found this on another blog. I hope you like it. It syndicates and collates information around a topic. Check it out-this one is about real estate.

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Tagged: Clip Syndicate, real estate

What is the Velocity of Money and How Does it Impact Home Loan Rates?

December 17, 2012 by Financemyhome · Leave a Comment

By John Mazzara NMLS #332556
Venture Development NMLS # 373115

If you’ve been watching the economic news, you’ve probably noticed that market experts and traders have been keeping a close eye on the Commerce Department’s Personal Spending and Personal Income reports. Obviously, those reports provide insight into the health of our economy, but did you know they also influence home loan rates? That’s right, personal spending can actually influence the interest rates that are available when you purchase or refinance a home.

Here’s why. It has to do with something called the velocity of money. Even though the government keeps pumping money into the system, nothing happens until that money is spent or lent – and passes from one hand to another or one business to another. The speed at which this money passes between parties is called the velocity of money.

With the job market still very sluggish, consumers aren’t spending much money these days, and businesses are still reluctant to spend money to make investments in their business. With the present velocity at low levels, inflation remains subdued and that’s good for home loan rates. That’s because rates are tied to Mortgage Bonds and inflation is the archenemy of Bonds, so low inflation is good for Bonds and rates. However, once velocity increases, the excess money in the system will cause inflation – which is bad for rates, since even the slightest scent of inflation can cause home loan rates to worsen.

While we certainly want to see better economic recovery news in the near future, we have to remember that there’s an inverse relationship between good economic news and Bonds and home loan rates. Weak economic news normally causes money to flow out of Stocks and into Bonds, which helps Bonds and home loan rates improve. Strong economic news, on the other hand, normally has the opposite result.

Currently, home loan rates are at a historically low level, but that situation won’t last forever. That means now is an ideal time to purchase a home or refinance before the velocity of money – and rates – change. If you or anyone you know would like to learn more about the current economic situation and how to take advantage of historically low home loan rates, then please contact me to help you find or finance a new home

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: archenemy of Bonds, Commerce Department’s Personal Spending and Personal Income reports, Home Loan Rates, interest rates, Mortgage Bonds, Strong economic news, Velocity of Money

New Landlord Resource-Learning Opportunity Online

December 15, 2012 by Financemyhome · Leave a Comment

How COOL is this? Lutheran Social Services of Minnesota has created a 90 minute class online that consists of various video modules and certificate upon completion—for a slightly extra cost. The class is very inexpensive either $25 or $40. It is a great deal. They have lots of experienced people who have created the class. You even will get a discount on licensing your rental property for the first time . if you a new landlord in Minneapolis and decide to get the certificate, then you will submit a copy when licensing. Even though I’ve been a landlord for 26 years, I am going to take the class. I can always learn something new. Here is the website address- http://www.GetRented.org?

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

MLS districts for Minneapolis and St Paul.pdf

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: Landlord Resource, Lutheran Social Service, Minnesota

Looking for a home in Minneapolis or St Paul but are unsure about which area to look?

December 14, 2012 by Financemyhome · Leave a Comment

Many times people will say that they want to live in either Minneapolis or St Paul. The problem for most people is that they know where they want to live within each of the two cities, but don’t know how to make a specific search. The Northstar MLS system has devised a solution. Now, you can search by community/neighborhood. See the sheets to identify the area you might want to live. Once you’ve decided, give me a call and let me set up a custom search for you based on your selected areas and other parameters. Together, we can make it happen.

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Tagged: Minneapolis, Northstar MLS system, St Paul

Ever wanted to win a million dollar house?

December 14, 2012 by Financemyhome · Leave a Comment

Well, now you can. It costs $100 a raffle ticket. Money goes to support charities. One of these charities is Operation Support Our Troops. Go to their website, see what they’re all about. You can purchase a raffle ticket from their site. http://www.osotamerica.org

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: charities, million dollar house, raffle ticket

RESULTS COMMUNICATORS TOASTMASTERS HOLIDAY MEETING

December 13, 2012 by Financemyhome · Leave a Comment

Please come to our Holiday Party and learn about Chocolate making from an experienced “chocolatier”. Coffee and confections provided. Hope to see you there!

You and anyone you like are invited to attend. I think you’ll have fun and meet some new people. Free chocolate covered cherries and coffee will be provided. Meeting is this Thursday for 1 hour.

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Tagged: Results Communicators, toastmasters holiday meeting

Age Of Aquarius Is Almost Upon Us-Age of Pisces Ends December 20th

December 10, 2012 by Financemyhome · Leave a Comment

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Tagged: Aquarius, December, Pisces, Zodiac signs

FHA to Cost Borrowers More In The Future

December 10, 2012 by Financemyhome · Leave a Comment

FHA has announced a major change to its loan program which allows borrowers to cancel the mortgage insurance premium (MIP) when their unpaid balance reaches 78% of the original purchase price. While no specific date has been set for the change, sometime in 2013, new FHA loans will require the mortgage insurance for the life of the loan.

At existing rates, the monthly MIP on a $168,875 mortgage is $178.99 per month. Under the current rule with normal amortization, the MIP would no longer be required in 9 years and 9 months. However, under the new rule, it would last for the entire 30 year term.

They also announced that the annual MIP will also be increased from 1.25% to 1.35% at some point in the near future. HUD, the parent agency for FHA, is making the changes to restore the capital reserves of the program that are needed to fund failed loans.

People that can close a FHA loan before the change takes place will fall under the old rules for canceling MIP and the lower rates. Since no date was announced, it is not known exactly when the changes will take effect.

While this information will probably not make the evening news, it will have a big impact on borrowers planning to use an FHA loan. Please pass it on to anyone you know who might be considering purchasing or refinancing with a FHA loan. There may a conventional loan alternative-call me to discuss.

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: conventional loan alternative, FHA, FHA loan, HUD, loan program, Mortgage Insurance, mortgage insurance premium

Six Sigma and YOU

December 9, 2012 by Financemyhome · Leave a Comment

Ok, I know my blog is about real estate & mortgage, but during the past 6 months I have been in the Six Sigma Green belt, Six Sigma Lean, and now the Six Sigma Lean Black Belt program from Villanova. I want to share my results . First and foremost, let me say they have an excellent program. Secondly, I want to suggest that you consider adopting some of the Six Sigma and Lean ways of doing things in YOUR own life and business. You’ll be better off if you do. If you are concerned about doing a better job, being more efficient and reducing waste in any aspect of your life, then this information is for you. I was intrigued by the information and the application to my life and various businesses and have already started to apply it. I belief everyone could benefit from studying and applying some of the principals. If you have never been to SlideShare.net, you really should. It is like YouTube but with PPT presentations and pdf’s that are available for learning and sharing. Here is one on Six Sigma that you might enjoy.

(Buch) six.sigma.for.everyone from Héctor Mendoza

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Tagged: Six Sigma, Six Sigma Green belt, Six Sigma Lean, Six Sigma Lean Black Belt

Contributing Factors on Rental Property

December 8, 2012 by Financemyhome · Leave a Comment

Rental properties have four primary factors that contribute to a return on investment. Based on market conditions and investor strategies, the individual motivating factor can change for property owners.

There was a time when the benefit of tax savings to offset income from other sources was considered important to some investors. However, in today’s environment, they are more likely valued as incidental benefits.

Some investors expect appreciation to deliver the satisfactory results which can be reasonable over time if a reliable appreciation rate is used. Savvy investors today are using conservative estimates for long-term holding periods.

Leverage occurs when borrowed funds are used to control a larger asset. Positive leverage can actually increase the yield on an investment.

The fourth component that contributes to a property’s yield is the cash flow. When the rents are greater than the expenses of operating the property and servicing the debt, there is a positive cash flow. A property with a good cash flow doesn’t have to go up in value to justify the investment.

The combination of lower prices, incredibly low mortgage rates and rising rents are attracting investors to rental properties that include single-family homes in predominantly owner-occupied neighborhoods.

Even if you were to ignore the benefits of tax savings, potential appreciation and leverage, the attractive cash flows make rental property a very smart investment alternative. If you’re curious, contact me for more information.

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Tagged: cash flow, investment, investor strategies, Leverage, market conditions, property owners, Rental Property, Single-Family Homes, tax savings

Dripping Dollars – Time to Call the Plumber and Save $$$$

December 7, 2012 by Financemyhome · Leave a Comment

Conserving water to be green while lowering your monthly bill to save green is a beneficial combination. Little things can contribute significantly to a large water bill.

* Leaky faucets can waste over 1,000 gallons a year

* Leaky toilets can waste 7,000 gallons a month

* A five-minute shower saves more water than a tub bath

* Water running while you brush your teeth or shave

* Sprinkler heads need to be adjusted to spray on the yard only

* Install a rain sensor on sprinkler system

* Pool equipment can be a hidden source of wasted water

A larger than normal water bill can be your first indication you have a leak. Then, you’ll need to track it down.

1. Turn off all the water faucets and appliances; don’t forget the ice maker.

2. Open the water meter, usually located near the sidewalk in the front of the house. You may need a water key that can be purchased from a home improvement store or possibly borrowed from a neighbor.

3. Locate the dial indicating water usage. It should not be moving since all of the water is off. If it is still moving, verify that you have turned off anything that might be using water.

4. If it appears to be still, make a mark with a Sharpie and wait 15 minutes. If the flow indicator has moved, you probably have a leak.

5. Now that you’ve confirmed that you have a leak, you may need help in locating it. A plumber or leak specialist may be able to help you track it down and repair it.

If you are in need of professionals to do things like plumbing, heating, and more—give me a call. Having been in the business for 26 years, I know a few people who are in the industry. Call me if you need a phone number or two.

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Tagged: Dripping Dollars, heating, house repair, plumber, plumbing

What’s the Point? A brief discussion on “Points”.

December 4, 2012 by Financemyhome · Leave a Comment

Pre-paid interest, sometimes called “points”, is generally tax deductible when a person pays them in connection with buying, building or improving their principal residence. When points are paid on a refinance, they are not a current deduction but have to be taken pro-rata over the life of the mortgage.

For instance, if $3,000 in points were paid on refinancing a 30 year mortgage, deduction of $100 per year is allowed. When the loan is paid off or replaced by refinancing again or the home is sold and the mortgage paid off from the proceeds, the balance of any un-deducted points may be taken in that tax year.

Your tax professional needs to be made aware of any of these situations so that he can accurately reflect the deduction in your return. Currently, the most common situation is where homeowners may be refinancing their home for the second, third or even fourth time. If there are points that have not been completely deducted, they need to be treated in the year of refinancing.

For more information, see points in IRS Publication 936 http://www.irs.gov/publications/p936/ar02.html#en_US_2011_publink1000229936 there is a section on refinancing in this publication. For advice considering your specific situation, contact your tax professional.

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Tagged: homeowners, Mortgage, Point, Pre-paid interest, refinancing, tax, tax professional

This is really a cool video – makes you think

November 27, 2012 by Financemyhome · Leave a Comment

Enjoy!!

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: moving art

Learn About The Short Sale Process

November 22, 2012 by Financemyhome · Leave a Comment

John mazzara-short-sale-presentation from John Mazzara

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: Short Sale Process

Changing the Lock is Key

November 20, 2012 by Financemyhome · Leave a Comment

There are times when you need to change the locks on your home to protect your family and possessions. It should always be considered when you move into a new home; when keys are lost, stolen or unreturned; or a cleaning or other service provider hasn’t returned the key.

Replacing the lockset would give you a totally new mechanism that should work better and if you go back with the same manufacturer, you’ll probably avoid any carpentry. You can order the locks online and have them work with the same key at no extra charge.

Another alternative is to have a locksmith rekey them. The locksmith can easily make all of the locks work with the same key. Compare the cost and decide which would be a better expenditure.

While you’re considering your security, a key safe might be a very convenient addition. Most makers say that it is much easier to break into a home than a key safe. The cost is reasonable and you can attach it to your exterior wall. Generally, they’re combination locks that would allow you access if you or another family member forgot their key. It’s also convenient to give a house keeper the combination and can be easily changed if necessary.

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Tagged: change locks, lockset, locksmith rekey, New Home

Discussion Points for a Minnesota Homeowner Contemplating Options on their Underwater Home

November 16, 2012 by Financemyhome · Leave a Comment

Homeowner presentation-q42012 from John Mazzara

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: Minnesota Homeowner, Underwater Home

Water Damage – Covered or Not?

November 12, 2012 by Financemyhome · Leave a Comment

A number of things can cause water damage to a home and it’s important to know whether they’re covered by your insurance policy. Some water damage may be covered and other may not be. Generally, you need an incident to invoke coverage rather than something gradual due to lack of maintenance.

However, some incidents are specifically exempt from homeowner policies such as floods. A flood can be described as rising water due to overflow of inland or tidal waters or unusual and rapid accumulation or runoff of surface water from any source.

Homes in designated high-risk flood areas with mortgages from federally regulated or insured lenders are required to have flood insurance.

Even if you don’t live in a dedicated flood zone, you could be affected by flood damage. Review your policy about water damage and call your insurance agent to get a better understanding. Ask if you need to purchase additional coverage or separate flood insurance along with other questions http://www.floodsmart.gov/floodsmart/pdfs/questions_for_agent.pdf

Flood insurance can be purchased for the building and the contents. The average flood insurance policy costs about $600 per year. For more information, see the National Flood Insurance Program http://www.floodsmart.gov/floodsmart/pages/residential_coverage/rc_overview.jsp

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: flood damage, flood insurance, homeowner policies, lack of maintenance, mortgages, National Flood Insurance Program, Water Damage

Just Watched Act Of Valor-Thank a Veteran today

November 8, 2012 by Financemyhome · Leave a Comment

Powerful film. Think about this quote:

“Live your life that the fear of death can never enter your heart.
Trouble no one about his religion.
Respect others in their views and demand that they respect yours.
Love your life, perfect your life, beautify all things in your life.
Seek to make your life long and of service to your people.
Prepare a noble death song for the day when you go over the great divide.
Always give a word or sign of salute when meeting or passing a friend,
or even a stranger, if in a lonely place.
Show respect to all people, but grovel to none.
When you rise in the morning, give thanks for the light,
for your life, for your strength.
Give thanks for your food and for the joy of living.
If you see no reason to give thanks, the fault lies in yourself.
Abuse no one and no thing, for abuse turns the wise ones to fools
and robs the spirit of its vision.
When your time comes to die,
be not like those whose hearts are filled with fear of death,
so that when their time comes they weep and pray for a little more time
to live their lives over again in a different way.
Sing your death song, and die like a hero going home.”
– Tecumseh

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Tagged: Tecumseh, Valor, Veteran

What a Deal! Government got it right!!

November 7, 2012 by Financemyhome · Leave a Comment

A 30 year fixed-rate mortgage hasn’t always been the standard. As part of FDR’s New Deal in 1934, the Federal Housing Administration was created to help Americans purchase homes with affordable terms.

Prior to then, many loans had an amount due at the end of the term called a balloon. Most mortgages had adjustable interest rates even though some might be fixed for a short time. While banks would loan money on a home, they retained the right to call the note due at any time which could exert considerable stress on borrowers.

FHA, during this time, introduced mortgages that offered a fixed rate of interest to the borrower for a 30 year term. This fully amortized loan provided borrowers a financial vehicle that would help them achieve the American Dream while minimizing the risk of having a loan called without the resources to pay it off. It brought long-term stability to the housing market and helped stimulate the economic recovery at a very difficult time in our nation’s history.

Roughly, a third of the mortgages created in 2011 were less than 30 year terms. Many homeowners, similar to those after the Great Depression, would like to get their home paid for as soon as possible. Shorter term mortgages typically have a lower interest rate but higher payments due to fewer years to amortize the mortgage.

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: amortization, balloon, FHA, fixed-rate mortgage, housing market, lower interest rate

Should YOU buy a home in the Twin Cities or rent?

November 5, 2012 by Financemyhome · Leave a Comment

The question plaguing every tenant who wants a home of their own is whether they should continue to rent or is it the right time to buy?

The combination of good prices and low mortgage rates make it considerably cheaper to own than rent in most markets. Assuming a person is qualified with a down payment and won’t be moving for several years, there may not be a better time to buy a home.

In the example below, the total house payment is $1,281.01 compared to $1,500 to rent the same home. Before you consider any of the financial benefits attached to home ownership, it’s cheaper to own than to rent.

The net cost of housing falls to $764 or just more than half the house payment when you consider the principal reduction due to normal amortization, a modest appreciation and the tax savings along with a reasonable maintenance expense that a tenant would not have to pay.

One of the biggest benefits is the growing equity. As the value goes up, the unpaid balance goes down. A favorable leverage causes their low down payment to grow to $40,609 in a short seven years based on a modest 1% appreciation.

There’s an expression often heard in real estate circles: “Whether you rent or buy, you pay for the house you occupy.” You’re either buying it for yourself or you’re helping the landlord buy it.

Check out a Rent vs. Own to see how your numbers will compare to this example or call me to do it for you.

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video at http://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: buy home, buy vs rent, equity, low mortgage rates, rent home, tenant

Rates Are Down But It Costs More?

October 14, 2012 by Financemyhome · Leave a Comment

The latest Housing Affordability Index from the National Association of REALTORS® shows an interesting trend taking place this year that needs buyers’ attention. Most people know that the mortgage rates are still at incredibly low rates but don’t feel there is much sense of urgency.

This report shows that mortgage rates have fallen from 4.37% in January to 3.81% for June. However, the report shows that the payment as a percentage of income has gone from 12.1% to 13.9% which simply means that buyers have to spend more of their income on a home.

The reason is that the median price of homes nationally has gone from $154,600 in January to $190,100 in June which is a 23% increase. The two major components of housing affordability are the price of the homes and the mortgage rates a buyer must pay.

Even if one of those components is going down, the other could have a significant affect as is shown in this year’s trend in housing affordability. In the past few weeks, the effects of which are not show in this report, mortgage rates have been moving up.

Home buyers and investors who have been taking a wait and see approach need to make a decision if now is the time to act.

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video athttp://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: costs, Home buyers and investors, housing affordability, Housing Affordability Index, median price of homes, mortgage rates, National Association of REALTORS®, rates

How to Determine if you should Refinance – Some Things to Think About

October 12, 2012 by Financemyhome · Leave a Comment

Some people believe they shouldn’t refinance more often than once every two years. The determining factors are if you’ll lower your payments and plan to stay in the home long enough to recapture the cost of refinancing. If so, you should consider refinancing.

Interest rates have actually come down significantly in the past 12 months and even more in the past 24 months. According to the Freddie Mac Primary Mortgage Market Survey®, rates on a 30 year fixed rate mortgage are down to 3.6% in August, 2012 compared to 4.27% one year earlier.

Refinancing in the example below would save the homeowner $67.04 per month and they would recapture the cost of refinancing in 3 years and 9 months based on approximately $3,000 of closing costs.

Click Here to make your own projection on a Refinance Analysis calculator.

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Tagged: Freddie Mac Primary Mortgage Market Survey®, interest rates, refinance, Refinance Analysis calculator

Who do you Call??

October 11, 2012 by Financemyhome · Leave a Comment

While the Internet is a great resource to locate information about food, travel and a number of other things, it isn’t necessarily the best place to find a local service provider.

Sure, you can run the search, get quick results and may even see some fairly impressive websites. The problem is that sometimes, those sites are run by companies that sell the leads to providers who may not be as experienced as you’re expecting.

Instead of taking a chance on a total stranger, a personal recommendation could yield you more satisfactory results. Most real estate transactions require some work to be done to the house either in preparation prior to the sale or to meet requirements from the buyer or inspector after the sale is made.

Looking for a service provider on the Internet is easy. Contact me for a recommendation is easier still and you can trust that they’ll be reputable and reasonable. I want to be your personal source of real estate information.

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video athttp://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: local service provider, real estate information

Home Safety & Security Tips

September 18, 2012 by Financemyhome · Leave a Comment

A quick once-over of the items on this list may improve the safety and security of your home and could protect your family and friends. It is important to periodically pay attention to these things because things change over time.

Security

■ Does each exterior door have a deadbolt?
■ Does the lock on each window work?
■ Have you added pins or clips to your windows for additional security?
■ Do you have dowels or broom sticks in the track of windows and sliding glass doors?
■ Do you have security company labels or signs displayed prominently?
■ Do you have an alarm system? Is the system monitored?
■ Do you have a dog that barks when strangers approach the home?
■ Are emergency numbers posted near the telephones?

Fire

■ Do you have smoke detectors near all sleeping areas?
■ Do you check the batteries monthly and change them annually?
■ Do you have two carbon monoxide detectors?
■ Do you have an escape ladder for upper floors?
■ Do you have fire extinguishers near exits and in the kitchen?
■ Do you have an emergency escape plan and is the family familiar with it?
■ Are any outlets or switches warm to the touch?
■ Are kitchen ventilation systems working properly?
■ Is the dryer ventilated to the outside and is the exhaust free of lint?
■ Is the furnace cleaned and serviced yearly?
■ Is the space around the hot water heater clear of combustible materials?

Falls

■ Are all electrical and phone cords out of the flow of traffic?
■ Are rugs and runners slip resistant?
■ Is your step-stool sturdy and in good condition?
■ Are stairs clear of objects that could cause a fall?
■ Are all entrance ways, exits, halls and walks well lighted?
■ Do bath tubs and showers have non-skid strips or suction mats in them?

Other

■ Do you keep drugs and medicines out of reach and sight of small children?
■ Are interior doors designed so small children cannot lock themselves in rooms?
■ Are pool and play areas fenced to keep small children in and uninvited guests out?
■ Are firearms kept out of reach and sight of children?
■ Is a well-stocked first aid kit available for emergencies?
■ Is there one member of your family trained in first aid, CPR and the Heimlich maneuver?

Sincerely,

RE/MAX Results

John Mazzara

7300 France Ave S #410

Edina, MN 55435

Off-952-929-2577

Cell-612-386-7027

Fax-952-928-3799

Google Voice- 952-491-0884

john@johnmazzara.com

Watch my Youtube video on how I sell a home:

RE/MAX real estate intro video athttp://youtu.be/EJE_s67xIWI

NMLS # 332556

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Tagged: Falls, Fire, Home Safety, Security, Security Tips

Handling the Eyesore

September 10, 2012 by Financemyhome · Leave a Comment

It can be unsightly and upsetting when a home in a neighborhood isn’t being maintained like the others. It might be an overgrown yard, a fence in need of repair, paint peeling on the home or even a car parked in front of the home that hasn’t moved in weeks.

I believe most people want to be good neighbors and may be willing to correct the issue once it is brought to their attention. In some cases, they may not agree with the same urgency and it might be necessary to seek other remedies.

The most expedient solution may be to contact the responsible person and describe your perception of the problem. An owner-occupant may be sympathetic to the neighbors and more than willing to correct the issue.

However, if you suspect that it is a rental property, check with the county tax records to identify the owner. They may be unaware of the situation and would actually welcome the “heads-up” to protect their investment.

The next step might be to notify the homeowner’s association if there is one. The covenants or bylaws will specify how properties must be maintained and the association can enforce them.

The final step would be to notify the city for a possible code violation. Most cities have a separate code and neighborhood services division and some cities have 311 for non-emergency assistance.