Homes MSP Real Estate Blog

Onion domes in Minnesota

My head turned as I drove past the striking St. Katherine Ukrainian Orthodox Church in Arden Hills when I was out showing houses yesterday. One of only two Ukranian Orthodox parishes in Minnesota according to the website of the Ukrainian Orthodox Church of the USA, St. Katherine's celebrated its 60th anniversary last year. Its current structure was built in 1996.

Although I know it's there, it always surprises me when I see this distinctive Russian church in Minnesota where this style of church architecture is rare... after all, the Twin Cities have been jokingly called the Vatican of the Lutheran Church so our dominant style of church architecture is very different.

With 36.7% of Minnesotans of German ancestry, 17.2% Norwegian and 9.9% Swedish it isn't surprising that 6 of 10 Minnesotans are Lutheran. Worldwide, the Eastern Orthodox religious tradition is second only to that of the Roman Catholic Church. In the Ukraine, 80% are of the Eastern Orthodox faith.

While the long narrow style basilica style of public buildings became the church building style of Western Christianity, the Eastern Orthodox religion adopted the more compact style of pagan tombs. My understanding is that five domes, as in this church, symbolize Jesus Christ and the four evangelists, and the distinctive onion style of the domes was developed to prevent snow from accumulating on them... hmmm, sounds like this could work for Minnesota as well...

When I visited orthodox churches in Russia and Bulgaria I was surprised to find the congregation standing throughout the entire worship service... there were no seats to be found. Services were also sung almost in their entirety with no instrumental accompaniment... supposedly because they see the human voice as the most perfect instrument of praise.

The orthodox cross adds two additional bars to the traditional one bar cross found in the Western Christian tradition... the upper one representing the plaque hung over Christ's head, the middle bar the beam on which his wrists or palms were nailed (same as in Western Christianity), and the bottom bar the footrest where it is believed his feet were nailed.

Interested in what's for sale in Arden Hills around this striking church on County Road 96 just east of  US Highway 10? I encountered a neighbor out running with his dogs through the grounds when I stopped yesterday. Current average list price in this neighborhood is $381,382.

Sharlene Hensrud, RE/MAX Results - Email - Arden Hills Realtor

RELATED POSTS

• Why is there an umbrella by the altar at the Basilica of St. Mary?
• Sunday's Site - Hindu Temple of Minnesota, Maple Grove
• Sunday's Site - The Museum of Russian Art, Minneapolis

Seller's best investment

If you are planning to sell, much of your focus right now is likely on getting your home decluttered, staged and ready to dazzle potential buyers. In winter months especially it is easy to concentrate so much on the interior (which is important!) that you forget about the exterior and the importance of first impressions.

What potential buyers see as they drive up to your home plays a big role in what they expect to find when they come inside. If it looks inviting and well cared for on the outside, that is what they will expect to find inside and will tend to focus on the positives. The inverse is true if the exterior looks shabby.

Perhaps a seller's best investment could be the front door... which makes a huge impact because it's the first thing potential buyers see as they enter your home. That's probably why replacing the front door gives the highest return on investment for remodeling projects nationwide at 73%, according to Remodeling Magazine's 2011-2012 cost vs value report. That means that if you spend $1,238 on a new front door you can expect to get $903 back in added resale value.

In our Twin Cities market the return is a little lower at 49.9% but it still can be a good investment. Your front door creates an important first impression which sets the tone for your potential buyer's visit.

See the full list of Remodeling Magazine's 35 home improvement projects ranked by highest return in the Twin Cities.

Sharlene Hensrud, RE/MAX Results - Email - HomesMSP.com

RELATED POSTS

• Remodeling ROI - Cost vs Value Report 2011-2012
• Doing home renovations? Save big and support Habitat
• FREE - Maximize Your Home Guide

Getting ready for spring market

If this week is any indication, this is going to be a busy spring! Spring market traditionally starts after the Super Bowl, but our market is very weather dependent. With warm temperatures and little snow, everyone seems to be thinking spring already. I had a closing yesterday where everyone (except me!) showed up without a coat... in January in Minnesota??? That doesn't happen very often!

It seems calls and emails were coming from everywhere this week, not just for me but for other agents I talked with as well. Buyers, sellers, investors... local, relocation... people ready to get started working towards whatever their end goal may be.

This week's Market Watch shows things moderating again after a dramatic bounce up following the holiday season. What this doesn't show is everything going on behind the scenes before listings and sales are actually recorded... that is what is happening now, getting ready for spring market. With Super Bowl only 9 days away, spring market will be here before we know it. As I said last week, listings are needed!!! ... it's time to get ready! 

Click here get a Market Watch update emailed to you every Friday.

Sharlene Hensrud, RE/MAX Results - Minneapolis - St. Paul Market Information

RELATED POSTS

• Listings Needed!!!
• Price-to-rent ratio tips towards buying rather than renting
• December Market Update... months supply of homes for sale shows seller's market???

Do I need 20% down to buy a house?

I have been asked more than once if you still have to have 20% (or more) down in order to buy a home.  I think with so many different stories out in the media, no one is really sure!  I just had a client email me last week asking if he had to put 20% down to buy a new home.

There are many options available for all buyers, first time homebuyers to repeat buyers.  The minimum down is zer0 - but only for those that qualify for VA home loans or USDA rural development loans!  There are some programs available at 3% down for first time homebuyers typically.  They are a My Community homebuyer loan and you need to be under specific income limits and also have a high enough credit score.  These loans are not as common as they used to be.  Most people that are buying with less than 5% down are using FHA loans.

FHA is one of the most common ways to buy a home with less than 5% down, you need 3.5% down and the interest rates are fantastic!  The monthly mortgage insurance is now higher than it used to be but it's still a great option!

Conventional loans are available with as little as 5% down.  You will need to pay mortgage insurance unless you put 20% down, but it's still a good option.  If your credit score is over 700 and you have 5% down of your own money, I would usually recommend doing a conventional loan over FHA due to the mortgage insurance.

Another option is to put 10% down and get a second mortgage for 10% down, by doing this you can avoid the mortgage insurance, but you will have a second mortgage to pay for.  With this option, you need to compare the costs between the second mortgage and MI and see which one makes more sense for you to do.

If you are thinking about buying a home and you have been told you need 20% (or more) down, please talk to a loan officer.  You may have a lot more options than you think you do!!!

Leslie Vanderwerf,  NMLS ID#335509, Summit Mortgage - Email - Website

Wednesdays Unplugged - Pork, Apple and Sweet Potato Bake

 

"It is amazing what you can accomplish if you do not care who gets the credit." ~ Harry S. Truman

 

NOTE: I spend my Wednesdays Unplugged from appointments. It's my day to stay home, enjoy cooking and welcome our kids and grandkids for dinner in the evening. We end our meal with quotes from the Norwegian 'Quote Cup' passed on to me from my grandmother. I share a quote and a recipe here each week, and sometimes some photos of family fun. I love trying new recipes...and love getting recipes you would like to share!

Our ground is finally covered with snow and it feels like winter... temperatures are mostly in the double digits above zero, what I consider ideal winter weather. We had 3rd Friday grandkid sleepover last weekend and saw the bears hibernating at the zoo the next morning... Khalen had his first basketball game that afternoon. I was out showing houses, but I got good reports... not only did he play well but he was also a great team player and good sport!

RECIPE OF THE WEEK

This week's recipe is one I have had in my pile waiting to share for quite a while, was served for a Breakfast Club dinner. In case you haven't already figured it out, we have some great cooks... and it's a great source for delicious recipes! What struck me about this recipe was not only how delicious it tasted, but also how pretty it looked... when plated it looked like the pork chops had top hats!

PORK, APPLE and SWEET POTATO BAKE

• 1/2 cup flour
• 3/4 teaspoon salt, divided
• 3/4 teaspoon freshly ground black pepper, divided
• 1/2 cup packed brown sugar
• 6 thick-cut boneless pork loin chops (about 1 inch thick)
• 2 tablespoons vegetable oil
• 4 sweet potatoes, peeled and sliced 1/4 inch thick
• 3 apples, peeled, cored and sliced into rings 1/2 inch thick
• 1/2 cup dry white wine

Preheat oven to 350 degrees F. Grease a 9 x 13 baking dish.

In a shallow dish, combine flour, 1/2 teaspoon of salt and 1/2 teaspoon pepper. Dredge pork chops in seasoned flour, coating evenly and shaking off excess. Discard excess flour mixture.

In a large nonstick skillet, heat oil over medium-high heat until hot. Cook pork chops, turning once, for 3-4 minutes per side or until browned on both sides. Transfer to prepared baking dish.

Layer half the sweet potatoes over pork chops. Sprinkle with 1/3 of the sugar. Layer half the apples over sweet potatoes. Sprinkle with another third of the brown sugar. Layer the remaining sweet potatoes, apples and brown sugar. Pour wine over all and speinkle with remaining salt and pepper.

Cover and bake in pre-heated oven for 1 1/4 hours or until just a hint of pink remains inside pork. Uncover and bake for 15 minutes more, or until apples are browned.

Sharlene Hensrud, RE/MAX Results - Email - HomesMSP.com

RELATED POSTS

• Wednesdays Unplugged - Sausage Sweet Potato Bake
• Wednesdays Unplugged - Apple Spiced Pork Medallions

Leaking relief valves at water heaters

When a temperature and pressure  (T&P) relief valve at a water heater leaks, it's usually a simple fix; just replace the valve.   These valves cost less than $15, and replacing the valve is a very basic job - just drain some water out of the water heater, remove the discharge tube, and replace the valve.  No big deal.

Unless it starts leaking again.

If a recently replaced T&P relief valve starts leaking again, it probably means that the relief valve is only doing it's job; it relieving excess pressure in the water heater.  When this happens, the fix gets a little bit more involved.  I'll explain.

When a water heater heats up the water in the tank, the water expands.  When this happens, the water typically ends up expanding back out the cold water inlet, all the way back to the water supply coming in to the house.  The municipal water supply for the house acts as a gigantic expansion tank... and nobody notices.  This is illustrated in the diagram below.

What would happen if a one-way valve, or check valve, was installed on the water supply piping for the house?  The water wouldn't have anywhere to go.  As the water heater heats the water, it expands, which builds up pressure in what is now essentially a closed system.  When the pressure builds up enough, the T&P relief valve on the water heater just does it's job and relieves the excess pressure by leaking a little water.

In Minnesota, it's rare for a check valve to be installed on the water supply line for the house, but it's fairly common to have a pressure regulator installed.  When the pressure from the water supply coming in to a house is too high, a pressure regulator needs to be installed on the water main, to prevent damage to the plumbing components in the house.  The problem that these regulators can create is that they will act as a check valve; they'll allow water in to the home, but they won't allow water back out.  This creates what is called a 'closed system'.

When this happens, the T&P relief valve for the water heater can leak.  This doesn't happen every time a pressure reducing valve is installed, but there may be other problems that show up in the house, such as the toilet fill valves randomly re-filling toilets, or faucets chronically dripping.

The Fix  When a closed system exists on the water distribution piping in a home, an expansion tank needs to be installed somewhere on the plumbing system.  This is a fairly simple and straightforward fix; an expansion tank will give the water somewhere to go when it expands, and the T&P relief valve on the water heater will stop causing problems.

This rule also applies to hot water heating systems; when a boiler heats the water in a hydronic heating system, the expansion tank allows for the water to expand without the pressure relief valve leaking.  If the pressure relief valve on a boiler system chronically leaks, even after replacement, it probably means there is a problem with the expansion tank.

Reuben Saltzman, Structure Tech Home Inspections - Email - Maple Grove Home Inspector

        

 

Why are townhouse and condo association fees sometimes so high?

If you are considering buying a townhome or condominium don't forget to consider the cost of HOA (homeowner association) fees as well as the purchase price when calculating your monthly payments. When qualifying for a mortgage, HOA dues are added to monthly loan and tax payments to get your qualifying monthly payment. Including those fees means you will qualify for a lower priced townhouse or condo than a house.

Association fees vary, but are usually highest for condos and typically the higher the association fees the more coverage. For instance in townhomes your assocation fees usually include trash removal, snow/lawn care, exterior maintenance, hazard insurance, sometimes water/sewer... and in a condo your fees could also include heat, sometimes even air conditioning and cable.

It is important to keep in mind, however, that you will be personally responsible for items covered by association dues when you own a house... those costs just aren't factored into your qualifying expenses. In a house you are responsible for everything associated with the house so if the siding needs to be replaced you must pay for it yourself... in most associations it would be covered by the HOA. In a CIC (Common Interest Community) the monthly fees you pay go towards services provided by the association as well as capital improvements/maintenance so you aren't as likely to have as many surprises.

When association fees are higher or lower than that of comparable complexes first check to see what is covered... are fees covering more or fewer services than in other complexes? Also check to see if the association has adequate reserves for repair/replacement costs... are they making up for inadequate reserves in the past? for special assessments because of needed repairs with inadequate reserve funds?

Coops may have fees that are higher still... often because they may also include a common mortgage for the whole property. In a coop you own a share in a corporation that owns real estate rather than owning the real estate itself.

Sharlene Hensrud, RE/MAX Results - Email - Minneapolis Condo Realtor

RELATED POSTS

• Condo vs Townhome vs House
• No Dogs Allowed...about CIC association restrictions
• About dogs and townhomes...
• Detached townhomes...isn't that a house?
• Townhouse Styles, Part One - Detached and Quad/4 Corners
• Townhouse Styles, Part 2 - Side by Side
• Condo Styles
• Cooperatives (Co-ops, Senior Coops)

Why is there an umbrella by the altar at the Basilica of St. Mary?

When a small vocal group I am part of sang at the Basilia of St. Mary in Minneapolis  last week someone asked me why there was an umbrella next to the altar. As a lover of architecture, and especially church architecture and history, it's a question I have been asked several times before so thought it was worth an explanation.

In ancient Rome public buildings used for assemblies and the administration of justice were called basilicas... buildings built in the shape of a rectangle with a central aisle down the middle. So a basilica was originally an architectural form, with its name derived from the Greek basileus, meaning king.

When Rome was Christianized a lot of these public basilicas were converted into churches, and the raised platform formerly occupied by a judge became the place of the high altar.

Along with converting the building, the Roman Catholic Church also converted the term basilica... to designate a church with special distinction, which must be designated by the pope himself. Used in this liturgical sense, the term 'basilica' has nothing to do with architectural style, size or anitquity of the church... it designates high rank, and highest expectations regarding the celebration of the liturgy and liturgical education.

The conopaieum, or red and yellow silk 'umbrella', as well as a coat of arms and symbols on the doors are trappings indicating the church's ''Basilica-ness'. I would guess the water symbol on the bottom of St. Mary's coat of arms below is in reference to Minneapolis, 'City of Lakes'. 

The Basilica of St. Mary holds the distinction of being the first church in the United States to be designated a Basilica... so named by Pope Pius XI in 1926. As of 2008 there were 68 Roman Catholic Basilicas in the United States.

It is easy to get so swept up in the grandeur of this stunning example of Beaux Arts architecture that you are surprised when you see a quirky red and yellow parasole next to the main altar and wonder what it is doing there... now you know.

Next time you see the magnificent dome and towers of the Basilica of St. Mary piercing the skyline at Hennepin Avenue between 16th & 17th Streets on the edge of downtown Minneapolis near Loring Park... take a walk inside and scope out the umbrella by the altar. Maybe you can help clear someone else's puzzled look.

Sharlene Hensrud, RE/MAX Results - Email - Minneapolis Realtor

RELATED POSTS

• Sunday's Site - Basilica of St. Mary, Minneapolis
• Remembering 9/11 at the Basilica
• Sunday's Site - Loring Park, Minneapolis
• Loring Greenway... hidden treasure of Loring Park neighborhood
• Sunday's Site - Minneapolis Sculpture Garden

There are Only A Few Types of Homes In MN I Haven't Been Asked to Stage.......

As a Home Stager and Redesigner I am asked to stage and decorate many types of homes. Starter homes, massive homes, ramblers, two-story. But, I have not yet been asked to stage one of MN's most popular houses. Well......okay maybe not that popular.

But three months of the year these houses are fairly popular creating entire cities of homes! Remember the movie "Grumpier Old Men"? Yup...that was Minnesota! We love to Ice Fish! We meaning 'they'.....not we including me. :)

There is the starter house:

The small but whimsical house:

The 'sticks out in the neighborhood' house: (every neighborhood has one)

 

The very cozy house:

 

The big boy on the block house!!!

 

And Aahhh.....the "Frosty The Snow Man House" - hurry up it's warm outside:

 

I am hoping one day to be asked to stage one of these 'houses'. I will let you know! Those of you in Florida.....eat your hearts out!

 

Shar Sitter, owner Rooms With Style Home Staging and Redesign Minneapolis MN.

CHSE and APSD Home Stager Pro Trainer

Listings Needed!!!

The number of new listings entering the market last year was the lowest it has been since the turn of the century... down from a peak of 108,033 in 2006 to only 68,875 in 2011.

That low number of sellers entering the marketplace coupled with buyers snatching them up resulted in a supply of homes for sale that dropped off my chart... only 16,191 active listings at the end of 2011.

If you look at the laws of supply and demand, indications are this could be a good year for sellers. The months supply of inventory in December was down to 4.2 months... indicating a seller's market for the first time since 2005!

Unemployment has been holding buyers back,  but the unemployment rate has now reached its lowest level in three years. The decline since August was the biggest decline over any 4-month period dating back to 1976! That, combined with continued record-low mortgage rates and rising rental rates, has bolstered demand.

Traditional sellers have been holding back during the last few turbulent years, resulting in a high percentage of short sales and foreclosures...

...which in turn have contributed to declining prices encouraging traditional sellers to stay out of the market.

Overall median sale price last year was $150,000, but when you break it out by traditional, short sales and foreclosures you see that median price for traditional sales was almost double that for foreclosures.

This could be the year of the move up buyer... selling to first-time homebuyers eager to buy to escape rising rents... then buying up with not only price savings but also with the increased buying power of low interest rates.

Thinking about selling? It's time to start getting your home ready, listings are needed... !!!

Sharlene Hensrud, RE/MAX Results - Minneapolis - St. Paul Seller's Agent

RELATED POSTS

• Price-to-rent ratio tips towards buying rather than renting
• December Market Update... months supply of homes for sale shows seller's market???
• The first, and often most difficult step in preparing your home for sale
• FREE - Maximize Your Home Guide