Toured the Sexton Lofts today and was pleasantly suprised by the units and the pricing. Great units, affordable pricing and HOA fee’s are going to make this building a hit - just my guess! The negative is the parking as you need to park in the Center Village parking ramp for $125 dollars a month. Cool rooftop as well with exercise facilities underground.
I give it a B+!
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Sexton Lofts - Minneapolis
Wednesday, September 28th, 2011
Minneapolis Loft Condo Update
Wednesday, October 6th, 2010Looks like the market Downtown has been heating up as I noticed 4 or 5 agents around my loft at the International Market Square Lofts. No doubt their was a slowdown after the first time home buyer credits expired this past summer, however I think we are seeing buyers come back into the marketplace with interest rates hovering around ridiculous for the past few months. A great deal on a Minneapolis foreclosure will be had at Skyscape condos as a corner unit just came on the market and will go pending within days. If the Minneapolis loft is priced accordingly and in good shape, its still a good recipe for a sale to happen within 60 days.
My favorite lofts as of today include the IMS lofts, 730 lofts, Bookman lofts, along with the Itasca lofts. For more information on Minneapolis loft condos, please feel free to contact Ben at 612.877.1676.
Europe’s Crisis a Plus for Minneapolis Condos for Sale?
Friday, June 11th, 2010
Europe, or more correctly, Greece, is having a debt crisis that may end up being a great boon for national and Minneapolis loft condos for sale. The euro, Europe’s currency, dropped drastically and Europeans responded by exchanging euros for the American dollar.
Help for Minneapolis Condos and Minneapolis Lofts for Sale
As more money pours into the U.S. “safe haven,” interest rates drop. Although interest rates may rise again once global economies begin to recover, the real estate market will benefit during this period of European instability. In fact, the mortgage markets are already benefiting.
On May 20, Bankrate.com, known for its accurate reporting of average national mortgage rates, reported the lowest 30-year fixed-rate mortgage in almost 25 years. At the time of the report, national averages hit at 4.96% for a 30-year fixed mortgage, 4.34% for a 15-year fixed and 4.14% for a 5-year ARM (adjustable rate mortgage).
Pessimists vs. Optimists
Pessimists believe that the low mortgage rates won’t affect home sales, because of the large influx of buyers who beat April’s tax credit deadline. In short, their view is that all the eligible homebuyers have already signed closing papers. They think that a few more buyers may trickle in before the busy season for real estate is over, but their general attitude is that the fat lady has already sung.
Optimists, as usual, have a much brighter point of view about the economy. Banks, they say, are finally letting some of the much-talked-about shadow inventory into the light. Unemployment seems to have slightly reversed, retail sales are up and manufacturing inventories are increasing – all of which indicate a stabilizing economy. Although even optimists aren’t betting on a huge real estate boon, they do point to an uphill trend.
Questions for You
Which are you, an optimist or a pessimist? And, how can there be such a big difference in real estate market outlook when all the experts are looking at the same information? Lastly, if you’re trying to sell your Minneapolis loft condo, can you really afford to be pessimistic?
Here’s a hint: the attitude you have about your chances of selling will carry over to the results you achieve. Think positive, even when you hear about downturns. You’ll have a better chance of getting your Minneapolis loft condo sold than other Minneapolis condos for sale!
If you’d like to sell your Twin Cities condo loft, I can help. Call me at 612.877.1676 or email me at ben@cityoflofts.com for more information.
Minneapolis lofts and condos: 730 lofts
Saturday, May 29th, 2010
730 lofts in Minneapolis is one of the amazing Minneapolis loft projects that the city has seen in the last few years. Blending a combination of steel, concrete and glass along with the bright orange color of the stucco has made this Minneapolis loft project stand out from the rest. The loft building has many different loft floor plans to choose from but only 4 loft units are currently remaining for sale. The developer has leased to own up to 20 loft units in the building as well. These units may be coming back on the market over the next few years as one will have to decide or not to purchase the unit once the lease to own term has expired.
The 730 loft building has many amenities that owners and renters enjoy such as heated underground parking, 24 hour security, pool tables, exercise room, party room and roof top observation deck.
If this Minneapolis loft project sounds like a loft building you might want to consider when looking to buy a Minneapolis loft or condo, please call me at 612.877.1676 or email me ben@cityoflofts.com.
What Can You Sell, Besides Your Minneapolis Condo?
Monday, October 12th, 2009
When buyers are looking at a Minneapolis condo, they aren’t just looking at the place itself. Although how a loft or Minneapolis condo looks on the inside is important, many are also looking at the surrounding neighborhood. When you get ready to sell your loft, start thinking about what other things you can sell. Here’s a short list of other benefits to promote:
- • Condo Association – Every Minneapolis condo has some sort of governing body like the Loft Owner’s Association or Community Association. How good is yours, such as a good reserve fund for repairs and capital improvements? Does your condo association listen to the needs of the owners? Do they keep the building in good repair? If your association is one of the best, brag about it!
- • Cost of utilities – How much do your utilities cost? This could be a strong selling point in your favor. If the overall cost of your utilities is low, make sure you tell your real estate agent. They’ll know the best time to mention this information.
- • Surrounding neighborhood – Nobody wants to move into a bad neighborhood. What can you say about yours that is positive? Are there sidewalks? (Sidewalks are becoming more and more important to buyers.) Are there nearby parks? Do you live in a low crime area? These are all good selling points, and should not be left out!
- • Schools – Although most families aren’t looking for condos, there’s always the chance that a family will look at yours. They’ll also be looking at the quality of the neighboring schools. How do your schools rank? Are they strong on education? Again, make sure you tell your real estate agent!
Selling a Minneapolis condo or Minneapolis loft isn’t necessarily as hard as it may sound, even with the current real estate market. However, with the amount of competition out there, every little bit helps. Pay attention to all the good things you enjoy about your loft and make sure potential buyers know about them!
If you’re thinking of selling your condo, I can help. Call me at 612-877-1676 or email me at ben@cityoflofts.com for more information.
720 lofts short sale
Saturday, August 1st, 20096th floor unit - 1 bd / 1 ba priced in the 200k range - Great 05 floor plan, call me for more details at 612.877.1676 or email me at ben@cityoflofts.com.
4 Important Tips When Buying Minneapolis Foreclosures
Wednesday, July 1st, 2009
Buying Minneapolis foreclosures can be an exciting task. And the thought of getting a great deal on a condo can literally make you giddy. But before you get caught up in all the good things about buying a foreclosure, there are still many details to sort out before you get the keys to your dream condo or loft.
When buying a foreclosure, you should:
1. Get help
Purchasing a foreclosure requires a lot knowledge, skill and attention to detail. From real estate agents and condo inspectors, to attorneys and investors, you’ll need the help of professionals to see you through the process. You will have your hands full, so seek out help ahead of time.
2. Work fast
When it comes to getting Minneapolis foreclosures, sometimes, your favorite property may also be someone else’s favorite. That’s why, as soon as you find the condo, do your research so you can submit a knowledgeable bid on the property early on.
3. Do your research
Research details about the property. Many surprises can pop up, so it’s important to spend the extra time finding out everything you can about the property, including whether or not the condo or loft has any liens on it. Although this can be a bit of a roadblock, you may be able to negotiate.
4. Factor in risks
Lots of times, when buying foreclosures, the condo is sold as is. It’s up to you to decide if you’re willing to renovate or update the condo as needed. If so, just make sure you have enough money to cover any needed repairs or cosmetic work.
If you’re interested in getting a foreclosed loft at a great price, give me a call today at 612-877-1676. I specialize in guiding people through the foreclosure process, and I’m happy to answer all your questions.
Why Rent When You Could Buy Your Very Own Minneapolis Condo?
Tuesday, June 30th, 2009
If you’re tired of renting but don’t want a huge loft to manage, consider purchasing a Minneapolis condo. You can enjoy the benefits of loft ownership and leave your renting days behind you.
By owning a condo, you can:
Build equity
When you make payments on a condo you own, you are constantly building equity in the property. With renting, you pay for years and own nothing.
Avoid payment increases
Unlike renting, when you own your Minneapolis condo and have a fixed mortgage rate, you can feel confident that your monthly payments will remain the same. No more surprise rent hikes. You can just sit back, relax and plan your finances around that peace of mind.
Make upgrades
As a renter, you probably never had the pleasure of painting the walls any color that suited your style. Your only choices were white and builder beige. As a condo owner, you have the freedom to do what you want to the interior of your loft without worrying about penalties from the landlord.
Break away from landlords
Now’s your chance to escape the watchful eye of your landlord and start living life the way you please. As a property owner, you call the shots. And best of all, you don’t have to be concerned with your landlord selling the property and leaving you without a place to live. Now you can secure your future as condo owner.
There is an array of benefits to owning a Minneapolis condo. All you have to do is get out of the renter’s mindset and step out on your own. You’d be surprise how great you’ll feel once you do.
Search for Minneapolis condos (and lofts) for sale at www.thbuyers.com. Or, let me do the work for you. I’d be happy to send you a list of available properties that meet your criteria. Just give me a call now at 612-877-1676 or email me at ben@cityoflofts.com.
720 Lofts Foreclosure - 248k - 2 bedrooms, 2 bathrooms - GREAT DEAL!
Wednesday, June 17th, 2009Call me to discuss ASAP - 612-877-1676. 5th floor corner unit, only foreclosure in 720 lofts to date.
3 Tips to Pay Off Your Minneapolis Loft Mortgage Early
Wednesday, June 3rd, 2009
If you own a Minneapolis loft, you’re probably trying to figure out how you can save money. One of the best ways to add a bit of cash back into your pocket is create a budget, and work on paying off your mortgage early. With a little research and a lot of focus, you can be mortgage free.
1. Make Additional Monthly Payments
One of the easiest ways to pay off your loft mortgage is to simply make extra payments towards your principal balance. This helps decrease interest over the years, which helps you pay off your mortgage loan at a faster rate. You could pay as little as $100 extra a month and make a huge difference in the amount of interest you’ll pay over the life of your loan. Use a mortgage calculator to check out figures and help you get an idea of how much you could save over the years.
When you make principal only payments, be sure to write a separate check and write “Principal Pre-payment Only” and your account number in the memo area of the check. Also enclose a letter instructing the mortgage company to apply this to pay down your principal balance. If you don’t do this, the bank may apply it to your next mortgage payment instead of just to your principal.
2. Pay Bi-Weekly
Another way to pay off your Minneapolis loft mortgage early is to pay twice a month, or bi-weekly. Paying bi-weekly could potentially subtract up to nine years off your loan. You simply make two smaller payments, instead of one big one. Therefore, you save a significant amount of money in interest charges.
However, if your loan company requires that you pay a fee to pay bi-weekly, or if they require that you switch plans whereby you are required to make a bi-monthly payment, don’t do it.
Instead, stick with your current monthly payment schedule and simply pay more on your principal each month as described above. This way you’ll still save a significant amount of interest, but you won’t be locked in to making bi-weekly payments. If you run into a rough patch, you can go back to paying your normal monthly amount. This keeps your options open, rather than being locked in if you converted to the bi-weekly payment plan.
3. Refinance Your Loan
When you refinance, the goal is usually to get a lower mortgage payment. But if you want to pay off your mortgage early, you could refinance, get a lower interest rate, but continue to make the same payments you were initially paying on your previous loan. This would allow you to pay more on your interest charges, and ultimately shorten the life of your loan.
When trying to pay off your Minneapolis condo mortgage early, you have several options. Just make sure to thoroughly research all the available plans of action until you find the one that’s right for you.
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