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Email: Scott.Swennes@results.net
Cell: 763.331.4775

Monday, November 21, 2016

Is Buying a Home an Investment?

Is my home an investment?

The finance gurus will say no, because an investment is something that will either generate income, or for which you will gain a large return. As long as you are living in your home it will not generate income, (unless it has a side rental) nor will it provide a return, (other than the non-tangible returns associated with owning a home.)

There is however, a “perk” associated with owning a home, and that is equity. Equity can be defined as The value of a property minus the owner's outstanding mortgage balance. This means if you purchase a home for $248,000, and find that it appraises for $320,000 in five years, it could be said that you have $72,000 in equity. However, just because the bank is willing to provide a loan to you based on equity, it's important to remember that the “value” of your home and what your home might actually sell for may be two different things. You would also need to actually sell your home to realize any equity you have in the home. While your primary residence may not be considered an investment from an economic perspective, it may still be considered an investment of your time, energy, and your credit. Regardless of whether you plan on living in your home for 2 years or 30, make sure you have a solid maintenance plan in place to protect your home's value.

Your home may not be an investment, but it can still save you money. When you leave your job for the day, do you take work home with you? if so, make sure you have a home office set up, so you can claim the home office deduction on your taxes.  Also remember to deduct your property taxes, and homeowners insurance as well.


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Monday, November 7, 2016

Landscaping Tips


If prospective buyers looked at your house today, what would they see outside? A giant evergreen that looks as if it might swallow the station wagon, perhaps, scraggly old foundation plants or maybe a kitchen-table view of the neighbors' kids' trampoline?

By spending a few hundred dollars on plants and materials and a few hours of time, you can achieve a well-landscaped look without shelling out for professional help.Besides the personal enjoyment you'll get from a prettier yard, landscaping adds more value than almost any other home renovation.A recent Michigan State University study found that depending on where the house is located, high-quality landscaping adds 5 percent to 11 percent to its price.If you have no immediate plans to move, all the better: Landscaping is the one home improvement that actually appreciates over time.So how do you decide which projects to tackle? That depends on how long you think you'll be around to enjoy the results.

If you're selling in a year or less:

Edge the beds Cutting fresh edges where grass meets mulch makes the lawn look well kept. "A move as simple as curving the edge of your flower beds could increase the value of your home by 1 percent," says horticulture professor Bridget Behe, the lead researcher on the MSU study.
Also, if your foundation plants are overgrown, widening the beds by two feet will make the shrubs seem smaller.

Nourish the grass Spend $45 on a broadcast spreader, which quickly distributes fertilizer over a lawn, enabling you to nourish a quarter-acre lot in about 10 minutes. For a yard that size, expect each monthly application to cost about $20 (for straight fertilizer) to $30 (with weed killer).

Scatter color throughout For about $1 a plant, you can blanket your yard with petunias, impatiens and other small annuals that will flower throughout the current growing season.
Also invest a few hundred dollars in some larger perennials and in shrubs that stand at least four feet high.
If you're improving for the long-term:

Cut back the jungle "Many everyday yard plants, such as azaleas, forsythia, hollies and rhododendrons, will fill out with new growth after a season or so even if you hack them down to stumps." says Christopher Valenti, a landscape contractor in Lewes, Del.


Add drama with foliage "A distinctive yard will make your home more appealing to buyers," says Los Angeles realtor Dana Frank. So replace plants that don't flower, or provide interesting foliage with eye-catching alternatives, like a patch of blackeyed Susans, a flowering crabapple or a cutleaf Japanese maple.
If you're planning to stay put, you don't need to spend hundreds of dollars for big plants. You'll save 50 percent or more by buying small ones and waiting a few seasons to get the full visual impact (when planting, make sure to space them based on the mature size listed on the label, not how they look now).

Consider new angles Most yards have almost all the plants along the foundation and the property lines. But if you place yours throughout different parts of the property, you'll create a depth of field that makes your home look farther away from the road.
Try putting some near the house's corners to accentuate its shape, others near the street to define the yard, and some in between, where they can block unfortunate views and be admired from indoors. Many nurseries offer free design help to buyers.

Cover your rear It's nice to wave hello to your neighbors out front, but the backyard should be a private space. If yours feels overexposed, fencing can offer a quick fix.


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Friday, November 4, 2016

Your First Steps as a New Homeowner



Your First Steps as a New Homeowner





Do an “inventory” of your home for insurance purposes. If you have a fire or other serious home damage, you’ll need documentation of what you owned so that your insurance can pay for it.

Get out your home inspection. Odds are, there are items on your home inspection that the seller did not repair. Create a time-line, a plan, and a budget for taking care of these remaining items over time. Know where your main water shut-off is in case of an emergency – your inspection should tell you where it is. Make sure your exterior water faucets & pipes in exterior walls & under your home are insulated against freezing in winter.

Create a regular maintenance plan. Be sure to include having & checking adequate smoke detectors & a fire extinguisher. Following is a general checklist:
  1. Roof: Check roof and around vents, skylights and chimneys for leaks. Repair as necessary.
  2. Attic: If there is no ridge vent, keep gable vents open year-round to ensure proper ventilation.
  3. Gutters: Clean gutters and drain pipes so leaves won't clog them and be sure they drain away from the house. (Fall: In cold-climate areas) Drain outside faucets.
  4. Fireplace: Clean fireplace of ashes. (Fall) Check chimney for loose or missing mortar. Have chimney professionally cleaned. Make sure damper closes tightly. (Spring) Leave damper open for improved ventilation if the home is not air-conditioned
  5. Filters: Remember to clean or replace filters once a month, or as needed. Check and clean dryer vent, air conditioner, stove hood and room fans. Keep heating and cooling vents clean and free from furniture and draperies.
  6. Safety Equipment: Ensure that all smoke detectors, carbon monoxide detectors and fire extinguishers are in good working order. Replace batteries in appropriate devices as needed, or at least twice each year.
  7. Air Conditioner: (Fall: In cold-climate areas) Remove window air-conditioners, or put weatherproof covers on them. If you have a swamp-cooler, be sure to drain it.
  8. Refrigerator: Make sure your refrigerator door seals are airtight. Test them by closing the door over a dollar bill. If you can pull the bill out easily, the latch may need to be adjusted or the seal may need to be replaced. In addition, if you have a coil-back refrigerator, vacuum the coils at least twice each year. Your refrigerator will run more efficiently with clean coils. Also, stock up! A full refrigerator uses less energy than an empty one.
  9. Faucets: Check for leaky faucets in kitchen and bathroom(s). Replace washers as necessary.
  10. Windows and Doors: Seal drafty doors and windows. If you added up all of the small cracks where heating and cooling escapes from a home, it would be the same as having a window open. Replace seals as needed.
  11. Storm Windows and Screens: (Fall) Take down screens (if removable type) and replace with storm windows. (Spring) Remove, clean, and store storm windows (if removable). Check and patch all door and window screens. Put screens up (if removable type).
  12. Siding and Paint: Look for cracks and holes in house siding. If you have wood decks, be sure to weather-proof them.

  13. Heating System:  (fall) have heating system serviced. Change filters.
  14. Hot Water Heater: (Fall) Drain hot water heater. Remove sediment from the bottom of the tank.

Text ScottSold to 763-280-5777 to download my custom home search app!


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Thursday, November 3, 2016

The 5 C's of Credit


Credit is one of the most confusing and misunderstood aspects of buying a house. Good credit is essential not only during the buying process, but after as well. Lenders want to know that you're going to pay them back if they loan you a bunch of money. One way they decide if your a good risk or not is with the 5 “C”s.

Capacity-
 What is your capacity, or ability, to repay the loan? They will verify how much income you make, how you make it, and whether your employment history is consistent.


Capital- Capital means money, and the more you have the more they’ll lend you (strange, right?). The lender looks at how much money you’ll put as a down payment, but also how much you’ll have left in the bank just in case you have financial trouble down the road. Large, unexplained deposits into your bank account (from relatives, credit cards, etc.) will be discovered and may not be allowed.

Character- No, not “are you a character?”. . . do you have good character? What’s your credit score? Do you pay your rent, debts, child support, and other financial obligations on time? Here are some steps to improve your credit score:
  • Make sure the info on your credit report is accurate. Up to 25% of credit reports have errors serious enough to result in being turned down for a loan!
  • Dispute errors with the credit bureau that reports it. (Transunion, Experion, or Equifax)
  • Make all of your debt payments on time, early is even better.
  • Limit the number of times anyone “pulls” your credit report.
  • Pay off any collections, liens, or judgments against you.
  • Keep your credit account balances under 30% or at least under 50%. This shows that you can be responsible and not max out all your credit cards.
  • Keep accounts you’ve had for a long time, even if they have zero balance. The longer you have an account, the more it will help.
  • Use a variety of credit types. Having only credit cards or only car loans does not show use of diverse types of credit. It’s good to show a variety of types over time, for example: a car loan, a credit card, store accounts, and a line of credit with your bank. Let’s be very clear, we are not suggesting you go out and get lots of new debt to improve your credit. It's best to discuss making changes to your credcit with your Mortgage Professional. What seems smart may not be!

Collateral- Collateral is the property you are buying. Does it appraise for what you are paying? Is the roof caving in or are there obvious, sizable defects in the house?

Conditions- Lenders look at what is the local housing market is like. If they had to foreclose on you, could they easily sell the home?

Obviously, you can’t control all these factors. So, the best thing to do is sit down with a lender, explain where you’re at financially, and together, come up with a plan to move you toward qualifying for a loan.


My recommended and trusted Lender is Kristi Thompson with American Mortgage & Equity Consultants, she is a broker that can shop rates at 40+ banks to ensure clients they are receiving the lowest rate.  
Her Contact Info:
Phone: 763-323-3266

Email: Krisit.Thompson@amecinc.org 

Text ScottSold to 763-280-5777 to download my home search app!

Email: Scott.Swennes@results.net  

Phone: 763-331-4775

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Cell: 763.331.4775

Preparing Your Home For Sale

Preparing Your Home

Every seller wants their home to sell fast and bring top dollar. Does that sound good to you? Well, it's not luck that makes that happen. It's careful planning and knowing how to professionally spruce up your home that will send home buyers scurrying for their checkbooks. Here's how to prep a house and turn it into an irresistible and marketable home.

De-Personalize.

Pack up those personal photographs and family heirlooms. Buyers can't see past personal artifacts, and you don't want them to be distracted. You want buyers to imagine their own photos on the walls, and they can't do that if yours are there! You don't want to make any buyer ask, "I wonder what kind of people live in this home?"You want buyers to say, "I can see myself living here."

De-Clutter!
People collect an amazing quantity of personal items. Consider this: if you haven't used it in over a year, you probably don't need it.
  • If you don't need it, why not donate it or throw it away?
  • Remove all books from bookcases.
  • Pack up those knickknacks.
  • Clean off everything on kitchen counters.
  • Put essential items used daily in a small box that can be stored in a closet when not in use.
  • Think of this process as a head-start on the packing you will eventually need to do anyway.

Rent a Storage Unit. 

Almost every home shows better with less furniture. Remove pieces of furniture that block or hamper paths and walkways and put them in storage. Since your bookcases are now empty, store them. Remove extra leaves from your dining room table to make the room appear larger. Leave just enough furniture in each room to showcase the room's purpose and plenty of room to move around. You don't want buyers scratching their heads and saying, "What is this room used for?"

Remove/Replace Favorite Items.
If you want to take window coverings, built-in appliances or fixtures with you, remove them now. If the chandelier in the dining room once belonged to your great grandmother, take it down. If a buyer never sees it, she won't want it. Once you tell a buyer she can't have an item, she will covet it, and it could blow your deal. Pack those items and replace them, if necessary.

Make Minor Repairs.
  • Replace cracked floor or counter tiles.
  • Patch holes in walls.
  • Fix leaky faucets.
  • Fix doors that don't close properly and kitchen drawers that jam.
  • Consider painting your walls neutral colors, especially if you have grown accustomed to purple or pink walls.
    (Don't give buyers any reason to remember your home as "the house with the orange bathroom.")
  • Replace burned-out light bulbs.
  • If you've considered replacing a worn bedspread, do so now!


Make the House Sparkle!
  • Wash windows inside and out.
  • Rent a pressure washer and spray down sidewalks and exterior.
  • Clean out cobwebs.
  • Re-caulk tubs, showers and sinks.
  • Polish chrome faucets and mirrors.
  • Clean out the refrigerator.
  • Vacuum daily.
  • Wax floors.
  • Dust furniture, ceiling fan blades and light fixtures.
  • Bleach dingy grout.
  • Replace worn rugs.
  • Hang up fresh towels.
  • Clean and air out any musty smelling areas. Odors are a no-no.

Scrutinize.
  • Go outside and open your front door. Stand there. Do you want to go inside? Does the house welcome you?
  • Linger in the doorway of every single room and imagine how your house will look to a buyer.
  • Examine carefully how furniture is arranged and move pieces around until it makes sense.
  • Make sure window coverings hang level.
  • Tune in to the room's statement and its emotional pull. Does it have impact and pizzazz?
  • Does it look like nobody lives in this house? You're almost finished.

Check Curb Appeal.
If a buyer won't get out of their agent's car because they don't like the exterior of your home, you'll never get them inside.




  • Keep the sidewalks cleared.
  • Mow the lawn.
  • Paint faded window trim.
  • Plant yellow flowers or group flower pots together. Yellow evokes a buying emotion. Marigolds are inexpensive.
  • Trim your bushes.
  • Make sure visitors can clearly read your house number.

If you have been thinking about listing your home for sale. I would welcome the opportunity to interview for the job.  Contact me at your earliest convenience!

Phone: 763.331.4775
Email: Scott.Swennes@results.net

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Click here for current Homes For Sale.

Text ScottSold to 763-280-5777 to download my home search app!

Contact Me:
Cell: 763.331.4775

Tuesday, November 1, 2016

First Steps to Selling Your Home


1) Choose a Listing Agent

  • A listing agent will represent you and have a fiduciary responsibility to look out for your best interests.
  • Negotiate your listing agreement, including term.
  • I, Scott Swennes would love the opportunity to meet with you.

2) Get Home Ready for Sale

  • Prepare your home for sale by cleaning, decluttering and improving curb appeal.
  • Hire a professional stager to stage your home, and/or ask your real estate agent for help in staging.
  • Make repairs before selling.
  • If you're selling a home where pets live, make alternate plans for your pets.

3) Figure Out How Much Your Home is Worth

  • A sellers biggest mistake is to overprice. Use your agent and the tools at their disposal to price your home in line with sold homes identified in a comparative market analysis report.

4) Market Your Home

  • Your agent should identify the sizzling selling points and choose advertising words to sell.
  • Approve your agent's marketing campaign and involve yourself in the process as well.
  • Consider hiring a virtual tour company to take quality photographs and put a 360-degree virtual tour online.
  • Tweak marketing to increase traffic and showings.
  • Your agent should saturate the internet with photographs and description of your home. Use the your local MLS (multiple listing service) to list your home.

If you have been thinking about listing your home for sale. I would welcome the opportunity to interview for the job.  Contact me at your earliest convenience!

Phone: 763.331.4775
Email: Scott.Swennes@results.net

Like my Facebook page here.

Click here for current Homes For Sale.

Text ScottSold to 763-280-5777 to download my home search app!

Contact Me:
Cell: 763.331.4775