FM Listings

1. You charge group dinners on your card and keep your friends’ cash to spend. I actually don’t mind doing this myself as it saves me a trip to the ATM if I need the cash, but if you’re just being stupid and thinking it’s “free money” to go and blow anytime then yeah – you need a financial makeover. 2. You spend more than 40% of your total income on rent. The last time I calculated this we were spending 37% of our total (net) income on mortgages. And I’ll admit it’s not very savvy. But I’ll also point out that we got ourselves into this BEFORE Mr. J. Money came about ;) So I agree with this one here – ya gotta keep your rent/mortgages way below that 40% line.  3. You’re constantly transferring your balance to get 0% interest on your credit card debt. Bad if you don’t know what you’re doing, but good if you’re Jonathan from My Money Blog (the expert in xfering $20,000+ and milking the extra hundreds of dollars in interest every year;) 4. You pay off one credit card with an...

If you approach the home buying process intelligently and with confidence, you are much more likely to emerge with a house you'll be proud to call home. Approaching the task of buying your next home can be overwhelming. There's so much to consider. How much house can I afford, and how can I find the best loan? Where will I come up with a down payment, and how much will I need? Should I buy a new or resale home, and which will go up in value? Should I use an agent or look at homes on my own? And these questions are just the beginning. Buying a home is one of the largest financial transactions in your lifetime, yet we don't teach about it in school. You're just supposed to pick it up along the way. Well, as you start down this road, let me give you a little advice. Here are the two most important things to remember no matter where you are on the road to ownership: 1. You can and should understand everything that is happening in the home buying proc...

Home-price appreciation is accelerating in much of the U.S., offering the latest confirmation that the housing market is turning after the most severe property downturn since the Great Depression. Prices rose by 8.1% in January from a year earlier, the largest such gain in 6½ years, according to figures from the S&P/Case-Shiller index of home prices in 20 major metropolitan cities released Tuesday. All 20 cities posted annual increases.

Granted, few young people spend much time day-dreaming about buying their first home. They're naturally preoccupied with academics, athletics, parties, dating and future career possibilities. Nonetheless, there are a number of good reasons to start learning early in life about the costs of buying a home and the responsibilities of homeownership. For example, a college student's misuse or abuse of credit cards can preclude his or her buying a home later on. Here are five recommendations for young people who want to position themselves for homeownership: 1. Establish good credit habits and a favorable credit history. Get a credit card and use it responsibly. Apply for an automobile loan and make your payments on time every month. If you're renting an apartment, put your own name on the lease and the utility bills and make sure the rent and the bills are paid every month. If you're already struggling with credit card debt or have large student loans, take ...

The first thing to understand about buying a house is that you don't have to have all the cash saved up in order to make your purchase. The good news is that there are lots of folks out there who are very interested in lending you as much as 95% of the purchase price of your home, at very favorable interest rates. Furthermore, they are willing to spread out the payments over a long period of time so that you can afford the house you want. Just to cover the basics, let's elaborate on the points in the last paragraph: If you have a steady job and a reasonable credit history, there is a good chance that you can find a home lender who will lend you most of the purchase price of your new house. Home loans are also called "mortgages," which comes from a Latin phrase meaning "pledge unto death." While lenders don't take your promise to pay quite that seriously, they DO expect to get repaid on time. Just to make sure you remember, lenders tak...

Thinking about buying a house? Then think about your credit history...the folks who lend money do! How well you have handled your credit obligations in the past is of utmost importance to lenders today. The good news is that this information, for the most part, is available to you. Your credit history is maintained by three different private companies called credit reporting agencies: Equifax, TransUnion and Experian. Their websites and phone numbers are listed at the end of this article. Everyone can pull their own credit once a year for free at annualcreditreport.com. If you’ve already done that or need to pull it again. You can order your report by phone and charge it to your major credit card if you like. It usually takes about a week to arrive. You can even order your report online directly from each of the three agencies, but they have to verify your identity before you can obtain any private information. By the way, avoid services that offer to obtain all your r...

Most lenders don't want you to take out a loan that will overload your ability to repay everybody you owe. As you think about applying for a home loan, you need to consider your personal finances. How much you earn versus how much you owe will likely determine how much a lender will allow you to borrow. First, determine your gross monthly income. This will include any regular and recurring income that you can document. Unfortunately, if you can't document the income or it doesn't show up on your tax return, then you can't use it to qualify for a loan. However, you can use unearned sources of income such as alimony or lottery payoffs. And if you own income-producing assets such as real estate or stocks, the income from those can be estimated and used in this calculation. If you have questions about your specific situation, any good loan officer can review the rules. Next, calculate your monthly debt load. This includes all monthly debt obligations like...

Most lenders don't want you to take out a loan that will overload your ability to repay everybody you owe.   As you think about applying for a home loan, you need to consider your personal finances. How much you earn versus how much you owe will likely determine how much a lender will allow you to borrow.   First, determine your gross monthly income. This will include any regular and recurring income that you can document. Unfortunately, if you can't document the income or it doesn't show up on your tax return, then you can't use it to qualify for a loan. However, you can use unearned sources of income such as alimony or lottery payoffs. And if you own income-producing assets such as real estate or stocks, the income from those can be estimated and used in this calculation. If you have questions about your specific situation, any good loan officer can review the rules.   Next, calculate your monthly debt load. This includes all monthly debt obligations like cre...

  Instructions: How do I qualify for the new construction rebate? To qualify, the property must: Be located within Moorhead City limits and classified as 1a,1b,2a,4b or 4bb (1-3 unit residential). The classification of your property can be found on your property tax statement or by contacting the City Assessor. The property must be new construction with no part of the structure commenced prior to January 1, 2012. Construction of the property must commence prior to December 31, 2014. Construction is deemed to have commenced if a city building permit has been issued and the mandatory footing or foundation inspection has been completed. What is the benefit? For property classified as 1a,1b,2a,4b or 4bb (1-3 unit residential) the rebate is the entire market value of the land and new improvements. The rebate includes the two payable tax years that correspond with the two assessment years after construction commenced. How does the new construction credit work? Builders...

To receive a FULL copy of the Fargo area Cost vs. Value Report. Simply send an email to... shannonbarnum@gmail.com With subject line:  "Cost Value Report" We will send you the full 11 page report of the Fargo areas remodeling cost vs. value studies done to help you decide what projects you can safely do to your home to get the most return on investment in today's market.

More Home... Less Money... The principal and interest portion of the payment on a home bought a few yrs ago for $136,000 at 6.5% int, would be the same as a $200,000 home today at today's rate of *3.50% interest! Its amazing how much more home you can afford now with these low rates! *rates change often, this rate used is for informational purposes only, please check with your lender for today's current rates.

• Hire a stager, inspector, photographer and other professionals as needed.  • Pressure-wash sidewalks and decks.  • Clean windows.  • Clear gutters and downspouts. • Remove weeds; mulch; plant flowers.  • Clear cobwebs, leaves from porches, patios.  • Re-grout bathtubs and faucets.  • Have air conditioning and furnace checked.  • Paint trim, baseboards and nicks if needed.  • Clear counters, tables, bookshelves. • Organize closets and storage areas. • Clean carpets. • Ask a friend to give an honest assessment of your home. Source: Washington Post For more information on selling your home click here: Selling My Home in the FM Area

Most real estate home buyers are obsessed with finding the next great deal.  So much so that they stay up into the wee hours of the night scouring the internet for properties,  As real estate agents know, our livelihoods depend on the accuracy of the data we analyze and for that reason I’m begging you to PLEASE stop searching for real estate on nationwide portals like Trulia, Zillow and Homes.com - amongst many others! For the past 12 months brokerage after brokerage has decided to withdrawal their listings from the nationwide real estate search portals citing, among other things, horribly inaccurate information and in some cases outright scams.   Very Inaccurate Real Estate Search Results National portals like Trulia and Zilliow are slow to show new listings.  When a property is listed for sale it hits the local MLS in a matter of minutes, usually about 15, but can take as long as 9 days to populate to nationally syndicated sites according to studies on t...

Low interest rates helped keep housing affordability high in the final quarter of 2012, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released on Thursday.

Attention first-time home sellers: This is not your father's housing market. Today's buyer-take-all market is a benefit for buyers with great credit and deep pockets. But sellers are stunned with new realities that include paying (rather than making) money at the closing table, providing extras to sweeten the deal, and spending more time and cash making the home camera-ready. For first-time sellers who have never been through the process before, it's a different world. One where the value of the house isn't measured in the profit made on the sale, but by the enjoyment the owners had from living in the home. ~Here are some important things experienced sellers would tell you, if they could. Your largest number of showings will occur in the first two to three weeks. The (multiple listing service) systems and the Internet tend to drive the majority of showings. Many buyers are plugged in electronically. So the minute something new pops up that meets their crite...

Possible large projects: These large projects may cost you a bit of money, but some may be well worth the expense. I will help you decide which of these improvements will add value to your home, and which are not necessary. Painting—exterior and/or interior. Improving lawn and landscaping. Cleaning and repairing windows and screens. Cleaning and/or replacing carpets. Touching up or refinishing cabinets. Storing or disposing of furniture in order to make rooms appear larger. Cleaning drapes. Cleaning and repairing all appliances.

Emerald may be this year’s color of the year and hot hue, but which colors should you avoid? Color research tells us some colors to avoid. Colors that can be considered, as some researchers note, “eye irritants” and can even cause headaches or mess with your vision. According to color research, the worst offending color: Yellow as a “pure bright lemon.”

The 2013 Spring Parade of Homes hosted by Home Builders Association of F-M will be April 27-May 5. Modern Market Realtors The Home Builders Association of Fargo-Moorhead hosts two Parade events each year, one in the spring and one in the fall. Admission is free. Description The spring Parade, held over nine days, will include homes in a wide range of prices built by HBA of F-M builders, each with his or her own distinct style. Bright yellow and blue directional signs and pennants will mark homes participating in the parade. Hours are 6:30 - 8:30 p.m. weekdays and noon - 5 p.m. weekends.