Tami and Steve's I-94 Minnesota Real Estate Blog: November 2006

Just a reminder to all past and present Tami and Steve clients: TOYS FOR TREES is 9 a.m. to 1 p.m. on SATURDAY December 2nd at Coldwell Banker Burnet in St. Cloud. Reserve a Christmas Tree or Holiday Wreath for you and bring a new toy to donate to the Toys for Tots campaign!! It is our way of saying THANK YOU and HAPPY HOLIDAYS!! Reserve your tree or wreath at 320-258-6675 or by emailing Tami@TamiandSteve.com.
Coldwell Banker Burnet 110 2nd Street South #105, Waite Park, MN 56387.

Past and present clients of Tami and Steve are invited to participate in the Coldwell Banker Burnet annual Trees for Toys drive to benefit the Marine's Toys for Tots campaign this holiday season. Meet us at Burnet from 9 a.m. to 1 p.m. on Saturday, December 1st and bring a toy to donate, and we will give you either a Christmas tree or holiday wreath!! It's our way of contributing to a worthy cause while also thanking our loyal clients and wishing them a great holiday season at the same time!! IMPORTANT: you must email or call in your reservation by Thursday November 30, 2006. Call Tami or Steve at 320-258-6675 and reserve your tree or wreath today!! Coldwell Banker Burnet is located at the MarketPlace Plaza, 110 2nd Street South, #105, Waite Park, MN 56387.

Convenience and affordability in this exceptional 2-bedroom, 2-bath co-op condo in Sartell, MN for $84,900. Updated flooring and window treatments, master suite with attached full bath, walk-in closets. All appliances, including stackable washer and dryer. Walkout to the pool and commons area.

View this listing at 700 N. 10th Avenue, #103, Sartell

RISMEDIA, November 17, 2006: Mortgage rates dropped to the lowest level since Jan. 25, with the average 30-year fixed rate now 6.24 percent. According to Bankrate.com's weekly national survey of large lenders, the 30-year fixed rate mortgages had an average of 0.32 discount and origination points.

The average 15-year fixed rate mortgage, popular for refinancing, dipped back beneath the 6 percent barrier, to 5.98 percent. On larger loans, the average jumbo 30-year fixed rate slid to 6.47 percent. Adjustable rate mortgages also declined. The average 5/1 adjustable rate mortgage settled at 6.13 percent and the average one-year ARM retreated to 5.87 percent.

Indications that inflation pressures may be easing and comments from Federal Reserve Board members downplaying the likelihood of further interest rate hikes helped push mortgage rates lower. The latest reading on the Producer Price Index (PPI) showed a decline in prices, an antidote to the inflation concerns of the Fed. In addition, remarks by several Fed governors in recent days were notably softer than the anti-inflation rhetoric that had prevailed of late. With worries about any additional interest rate hikes put on the back-burner, investors purchased government and mortgage-backed bonds. This pushed bond prices higher and bond yields lower. Mortgage rates are closely related to the yields on long-term government and mortgage-backed bonds.

Fixed mortgage rates are sharply lower than five months ago, when rates were flirting with 7 percent. At that time, the average 30-year fixed mortgage rate peaked at 6.93 percent, meaning that the monthly payment on a loan of $165,000 was $1,090. With the average 30-year fixed rate now 6.24 percent, the same loan originated today would carry a monthly payment of $1,014.86. Fixed mortgage rates are a compelling refinancing alternative for adjustable rate borrowers facing sharp payment adjustments.

Survey Results

30-year fixed: 6.24% -- down from 6.32% last week (avg. points: 0.32)

15-year fixed: 5.98% -- down from 6.02% last week (avg. points: 0.29)

5/1 ARM: 6.13% -- down from 6.16% last week (avg. points: 0.25)

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.
For a full analysis of this week's move in mortgage rates, go to bankrate.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

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3000 finished square feet in this Modified 2-story four bedroom home for $244,900. Cul-de-sac location with enormous backyard. Three bedrooms are on one level and owner's suite has walk-in closet and private bath. MF laundry. MF family room with in-floor heat and gas fireplace. LL rec room and plenty of storage. Maintenance-free steel siding, underground sprinkler system, front and back patios. Triple-car garage finished and heated. A honey of a house!! View this lisitng at: 510 Pelican Lake, Avon, MN 56310.

Top 10 Reasons to List or Keep Your Property on the Market During the Holidays

1. People who look at property during the holidays are serious buyers and are more ready to make a decision. 2. Serious buyers have fewer houes to choose from during the holidays, so the property has less competition. 3. Houses "show better" when decorated for the holidays with the wonderful lights and festive colors associated with the season. 4. Buyers are more emotional during the holidays and often base their decision on the warmth and good feelings they receive when viewing the home. 5. Buyers have more time to look for a house during the holidays because they have designated time off from work to purchase a home. 6. Many people want to buy before the end of the year for financial and tax reasons. 7. January is often a month for transfers. Transferees can't wait until the spring to buy. These buyers need a home now and houses must be on the market to capture these buyers. 8. Sellers can restrict showings during personal family events and still take advantage of their homes being spruced up and decorated as "show ready" property. 9. Sellers can sell now--but specify a delayed closing or exended occupancy until early next year if it is agreeable within the negotiation of the contract. 10. By selling now, sellers have the opporutnity to buy during the spring--when more properties are on the market. BONUS TIP: If your house isn't on the market--it can't sell!

Call Tami and Steve for more information on listing your property. 320-267-0076.

Experience a little bit of country in this St. Augusta rambler for $158,500. Huge wooded lot, (yet close to St. Cloud's amenities) steel siding, two-year old roof and a spacious two-car garage with concrete driveway. Inside, a complete appliance package including freezer, an enclosed sunroom and easy main floor laundry conversion. Easy I-94 access. View this listing at: 24987 County Road 7, St. Augusta, MN 56301.

4 yr old 5 bdrm Tri-level with outstanding views of Lake Martha for $389,900! Quality upgrades throughout: hickory cabinets, oak flooring, 6-panel doors, recessed lighting, surround sound, gas fireplace, Andersen windows, oversized and heated insulated triple garage, 1/2 acre secluded lot with mature trees and creek. Additional adjoining lot available. Agent owned. View this outstanding listing at: 945 Hamilton Avenue SE, Buffalo, MN 55313.

This dream 4 bdrm cedar home sits on nearly 20 acres of outstanding Minnesota prairie and woods southwest of the Sherburne Wildlife Refuge at $569,900. New central air, a main floor master suite, vaulted living rm with fieldstone gas fireplace, a covered front country porch with private back deck off the kitchen. Three outbuildings including: a 40 x 80 insulated workshop with concrete floor, 10' sidewalls, 10 x 17 office with 1/2 bath, 440 amp electric, 8 x 12 overhead door; second outbuilding is 40 x 48, concrete floor, 12' sidewalls, 10 x 10 oversized door and a 16 x 12 slider; third outbuilding is 18 x 32 with 16 x 16 addition and concrete floor. View this listing at: 6851 SE 18th Ave. Becker, MN 55308.

This gorgeous tri-level is a "don't miss" with 4 bdrms, 3 baths and all the upgrades in West St. Cloud for $245,000! An owner's suite with full bath and walk-in closet, family room with wet bar and built-ins, dramatic formal dining and lower level guest suite. A spacious deck and huge backyard, sprinkler system, security system and triple-car garage. View this listing at: 5522 Knollwood Drive, St. Cloud, MN 56303.

Three bedrooms on one level for convenient living at $144,000! MF laundry conversion available. Hardwood floors, ceramic tile in kitchen, appliance package, newer windows, newer siding, attached garage. Convenient to shopping, schools and medical. View this listing at: 110 N. 31st Avenue, St. Cloud, MN 56303.

Better than new 2 bdrm split-foyer in Cold Spring, MN at $187,000! Owner's suite with walk-in closet and bath, ceramic tile foyer, stainless steel appliances, kitchen with center island, fabulous style and decor, lower-level ready to finish, triple-car garage, fully and beautifully landscaped. View this listing at: 804 SE 3rd Avenue, Cold Spring, MN 56320.

Absolutely charming Craftsman-style home close to St. Cloud St. University, Munsinger Park and Clemens Gardens for $155,000. 3bdrms, 2 ba, original woodwork, built-in dining hutch, harwood floors, art deco fixture, remodeled IKEA kitchen, new roof in 2004, four-season room with French doors, new appliances, updated electrical. You can't resist! View this listing at: 526 SE Wilson Ave. St. Cloud, MN 56304.

Great family home on St. Cloud's north side near parks, schools and hospital. Fabulous updates throughout: new carpet in 2006, new roof 2005, all new kitchen appliances in 2004. New well for watering and new pump 2005. Updated and remodeled kitchen with new cabinets. New gas FP and new central air. This is a turn-key home! View this listing at: 1120 13th Ave. North, St. Cloud, MN 56303.

3,784 spacious square feet of Gorgeous Walkout-Rambler on 5 acres in Sauk Rapids at $425,000. This exceptional Energy Star home offers plenty of privacy and upgrades. Four bedrooms, spacious kitchen with ceramic tile and custom finishes, a living room and family room with see-through fireplace, MF laundry, an owner's suite with Euro-shower and whirlpool tub, lower level family room with wet bar, a country wrap-around porch and open BBQ deck, woodframe double-hung Anersen Low-E Argon windows, an attached triple garage and 36 x 24 shop with infloor heat. View this listing at: 6999 15th Ave. NE Sauk Rapids, MN 56379.

A well-maintained single family 3-brm home at $148,900. Also a licensed rental close to St. Cloud State University and the downtown business district. Spacious eat-in kitchen, hardwood floors, a large owner's suite with built-ins and plenty of storage, complete appliance package and a double garage. Family room with knotty pine and an electric fireplace. View this listing at: 810 S. McKinley Place, St. Cloud MN 56301.

Back on the market with motivated Seller at great price of $89,900! This adorable 3-bedroom charmer is located in scenic Little Falls, Minnesota. Hardwood floors, central air, fresh paint, fenced-in backyard and deck. The perfect starter home! View this listing at: 613 NE 7th Street, Little Falls, MN 56345.