If you have a Minneapolis loft for sale or you’re thinking about buying a loft to flip it, here’s something to keep in mind: walking distance. Why? Because a new study commissioned by CEOs for Cities shows that lofts or condos within walking distance of amenities sell for more.
Environmental concerns are rising. More people are walking whenever possible and would rather walk than drive. They’re also becoming more environmentally conscious, as well as health conscious. If there is a Minneapolis loft or condo for sale within walking distance to schools, parks, restaurants, coffee shops, libraries and shopping areas, it’s more likely to be snatched up.
This is true even in the current economy. “Walk-ability,” says Joseph Cortright, the man who analyzed the data, “adds value to residential property just as additional square footage, bedrooms, bathrooms and other amenities do.”
In many places, walk-ability can lead to a sales price of as much as $34,000 more than in areas where you can’t get around without a car. Of course, this isn’t true for every city. In Las Vegas, more walk-able areas correlated to places with lower housing cost. Bakersfield, California, didn’t show any difference at all.
Why is being able to walk around such a big deal? Several reasons:
•The more walk-able neighborhoods usually have better mass transit systems.
•People living in walk-able areas generally weigh less, by at least seven pounds.
•Less money is spent on gas.
•Car owners don’t need to drive as often, and when they do, they don’t have to go as far.
What does this mean for you, the loft owner? If you live in a walk-able neighborhood and have a Minneapolis loft or condo for sale, you have an excellent selling point. Make sure you tell your real estate agent how easy it is to get around. With this knowledge, they can market your home towards all those people looking to use a little bit more leg power and a little bit less engine power. What’s your walk score?
If you’re trying to sell your loft, or looking for a loft / condo in a walk-able neighborhood, I can help. Call me at 612.877.1676 or email me at ben@cityoflofts.com for more information.
Just because you’ve found some interesting Minneapolis condos or lofts for sale doesn’t mean your Minneapolis property search is up. There’s much more to do before signing those closing papers, and one of the biggest is having the home inspected. In fact, getting a home inspection will probably be drilled into you by your real estate agent. Yes, it’s that important.
What can you find out from a home inspection report?
Although many people do get a home inspection, just as many have a difficult time deciphering the reports to find out what’s serious and what isn’t. To make it worse, inspections vary from state to state. Fortunately, the National Association of Certified Home Inspectors, who has a list of inspectors all around the United States and Canada, has a specific set of guidelines.
General Inspection
A general inspection doesn’t require a specific license. It covers such things as:
•Structure– how well the walls, ceiling, foundation and more are put together
•Exterior evaluation – landscaping, elevation, drainage, windows
•Plumbing – Checks the condition of piping and identifies the materials used
•Systems – water heaters, duct work, air conditioning, chimney, furnaces, sprinklers
•Garage – Slab, firewall, garage door
•Appliances – including smoke detectors
•Electrical – main panel, types of wiring, grounding, circuit breakers, light fixtures and more
The inspection reports will state whether Minneapolis condos or lofts for sale have serious health and safety issues, systems malfunctions, foundation problems, and moisture and drainage problems.
Special Inspection
Some things require a specific license for inspection. Although you may not want to spend the extra money, these things can cause the “sick house syndrome” (people getting sick a lot for no recognizable reason). These problems should not be ignored:
•Asbestos
•Radon
•Formaldehyde
•Mold, mildew and fungi
•Rodents
•Lead
•Methane
•Radiation
Some issues aren’t big and can be dealt with fairly easily. Other things, however, are expensive fixes and usually deal breakers. Before you sign closing papers on one of the Minneapolis condos or lofts for sale, get that inspection done to find out what you’re really getting.
If you’re looking for a healthy home in good condition, I can help. Call me at 612.877.1676 or email me at ben@cityoflofts.com for more information.
Are you looking at condos for sale in Minneapolis and feeling overwhelmed by the choices? Back in the Dark Ages before the Internet (1986 or so), if you wanted to look at a house, you had to call a real estate agent, find out the address and then physically drive to the house. Thanks to the Internet, however, you can start narrowing down your choices before you ever talk to your agent.
What do you need to know?
Looking online can give you the information you want to know about the lofts for sale in Minneapolis. However, if you just go surfing on the Web, that information can be as overwhelming as the number of choices. Before you start shopping online, make a list of the things that are important to you about the city or neighborhood in which you want to live, such as:
• What are the average property taxes in the neighborhood?
• What is the average utility cost for the loft?
• What is the neighborhood like?
• How high is the crime rate in the neighborhood?
• How good are the schools?
• What is the entertainment like?
Once you have your list of questions, go online with an eye to answering them. Here is a list of links that might help you on your quest for information:
My Government Website – Sunshine Review: Here you can find a list of cities with official websites. Choose the city you’re looking for and be magically transported by way of the Internet to that city’s official website. You’ll find all the great stuff that calls people to move to a particular city, including attractions, businesses, restaurants and beautiful housing developments.
City Data: City Data is just that - a website with nothing but data on U.S. cities. You’ll find the nice and not so nice information about any city. Crime rates, shortest commute, weather patterns and more, all at your fingertips. The only drawback is that the information is two years old.
Interest: Interest.com will show you the current mortgage interest rates for the area you’re interested in.
By gathering all this information, you have a much better chance of choosing one of the lofts for sale in Minneapolis that fits your needs. Once you have it all, you can search online or take the information to your real estate agent and get help with your house hunting.
Are you looking for the perfect house? Let me help. Call me today at 612.877.1676 or email me at ben@cityoflofts.com for more information.
Many putting up their loft or condo for sale on the Minneapolis market don’t have a lot of available cash to spruce it up. While staging houses is a definite plus, it costs, as does many of the other suggested “to-dos.” Here are a few cheap, easy ways to make your loft or condo look more inviting to buyers:
1. Put up your personal stuff
Not every buyer looking at a loft or condo for sale in Minneapolis appreciates the fact that someone still lives there. Putting away the following things can help the buyers’ see themselves in the condo:
• your pet’s things (toys, litter box, bowls)
• your medications, toothbrushes and toilet accessories
• any toys
• knick-knacks and personal pictures
• putting up out-of-season clothes or clothes you don’t wear very often to make your closets look bigger
• taking one piece of furniture out of your bedroom
• packing up the small appliances in your kitchen
3. Touch on the trends
Chances are that some of the buyers are paying attention to celebrity trends. Feng shui is a big one, and you can do your part with just a few touches:
• add a fresh bowl of fruit to the kitchen
• put a comfortable couch or chair on the east side of your living room or den
• get rid of reds
Whether you see or feel a difference doesn’t matter. Keep in mind that you’re trying to appeal to potential buyers of your loft or condo for sale in Minneapolis, not make the loft or condo more livable for you. If it helps, pretend that you’re the buyer, seeing the home for the first time.
If you’re trying to get your loft or condo ready to sell, I can help. Call me at 612-877-1676 or email me at ben@cityoflofts.com for more information.
