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Gull Lake Home For Sale | 1.25 – 1.75 Story, 3 bed/3 bath | $594,900 (9 hours ago)

Woman lake.

Posted Feb 22 2012 by in All Things Hackensack, All Things Longville, Uncategorized with 0 Comments

This is why my family moved to the lakes area. Woman lake is a fabulous lake chain to start building memories. Just give me a call 218.821.9726.

There has been much development on Woman Lake. From 1948 to 2003, the number of lake homes drastically increased from 140 to 551. Shoreline areas (on the land and into the shallow water) provide essential habitat for fish and wildlife that live in or near Minnesota’s lakes. Overdeveloped shorelines cannot support the fish, wildlife, and clean water that are associated with natural undeveloped lakes. Some portions of the shoreline have remained undeveloped and become a vital component in maintaining the water quality and fish habitat. As the demand for lakeshore lots increases, the development of the remaining shoreline of Woman Lake remains very likely.

Woman Lake Chain: One of the most popular chain of lakes in Minnesota begins on the shore of Longville. Guests to the three lakes can travel by boat to downtown Longville. The three lakes boast some of the area’s best fishing and water recreation. Fishing is good all year long with a wide variety of species available. Walleye is the most popular fish caught on the chain, but Muskie, Large Mouth Bass, Northern Pike, Sunfish, Crappies and Perch are also abundant.

Woman lake has always been known for its Walleye fishing. The lake also has a very good population of Yellow perch, Northern pike, Largemouth bass and Smallmouth bass, Bluegill, Crappie, and Muskellunge. The lake has excellent water clarity, which makes fishing for the light sensitive walleye difficult during the daytime. The lake is infested with the non-native exotic Rusty crayfish. Famous Minnesota walleye angler Ron Schara listed the lake as one of his top 25 Walleye fishing lakes in the world.

Congratulations on the first step of buying a home!

Posted Feb 18 2012 by in All Things Hackensack with 0 Comments

Buying

Congratulations on the first step of buying a home! As an experienced real estate agent, I can assist you through the entire process, starting with the mortgage and continuing through the closing. I will help you shop for the best interest rate and terms, and if you wish, I can also suggest mortgage lenders.

Here’s a useful list of tips to consider when purchasing a home

Get copies of your credit report. If need be, clean it up. The higher your credit score, the better your loan interest rate. The three major credit reporting companies are Experian, Equifax and TransUnion.

Determine your price range

Find a lender or I can recommend trusted lenders.

Research, figure out where you want to live. Do you have children? Consider what school district you’re home will fall into. How many bedrooms and bathrooms do you want? Would you prefer a newer home or an older one with established landscaping?

When you’ve identified the home you want to buy, I’m ready to prepare a written offer. Since I’m familiar with market value, I’ll help you arrive at a price that gives your offer the best chance of being accepted. Also, be prepared to negotiate, your first offer might not get accepted.

Have backup homes in mind in case your offer isn’t accepted.

Once Your Offer Is Accepted

After your offer is accepted, you’ll have a grace period (varies depending on your state) to get the house professionally inspected. This is the times to request repairs or submit a counteroffer if need be. The next step is to verify that the terms and conditions on your loan are accurate. Also, we’ll go over your signing papers.

Moving time

Now that you’ve obtained your home, you’ll need to get homeowners insurance. The next step is moving arrangements. If you plan on hiring a professional mover, schedule accordingly. I can also suggest reputable companies. Don’t forget to submit a change of address form and contact the local utility companies.

Foreclosure is a legal event.

Posted Jan 23 2012 by in All Things Hackensack, All Things Longville with 0 Comments

 

Here in our area (Longville Lakes area) a foreclosure is a legal event and there are benchmarks that must be met. Once the case is turned over to attorneys, the impending foreclosure must be advertised, usually in both the local papers and in the largest and closest metropolitan daily. The entire process can take a very long time from initial default to the actual public auction of the property. If you are a member of the military  and you are the owner of the property, there are additional safeguards required by federal and in some cases state laws From the beginning of the process, however, the meter is running. The longer the foreclosure takes, the greater the debt that accrues and the larger the liability the homeowner has, something that will become critical down the road.

2011 Local Real Estate Year in Review-

Posted Jan 9 2012 by in All Things Hackensack with 0 Comments

 

Click Here for Supporting Reports

Locally, our area around northern Cass County including Longville, Remer, Walker, Hackensack, Backus and Pine River had a 15% increase in the number of properties sold in 2011 over 2010!The Gallery of Homes also experienced a 23% increase in sales last year, which is 3 years in a row of continued increase. In 2011, Gallery of Homes has sold more real estate than any other Longville real estate office.

The local increase in activity as well as the overall increase in 2011 for the entire Greater Lakes Association of REALTORS is great news for everyone and a sign that our economy is improving.  We are looking forward to 2012 activity to continue to increase as well.

Here is the year end report from the Greater Lakes Association of REALTORS:

Now that 2011 is fully in the books, it’s important to discern which market segments performed well and which encountered additional challenges. This not only sheds light on consumer behavior, but also provides a preliminary look at what 2012 might have in store. For the 12-month period spanning January 2011 through December 2011, Closed Sales in the Great Lakes region were up 5.6 percent overall. The price range with the largest gain in sales was the $150,000 and Below range, where they increased 9.2 percent.

The overall Median Sales Price was down 3.5 percent to $139,000. The property type with the smallest price decline was the Water Access/River segment, where prices decreased 3.2 percent to $158,000. The price range that tended to sell the quickest was the $150,000 and Below range at 163 days; the price range that tended to sell the slowest was the $400,001 and Above range at 246 days.

 

Market-wide, inventory levels were down 17.6 percent. The property type that lost the least inventory was the Privately-Owned Waterfront segment, where it decreased 10.4 percent. That amounts to 9.5 months supply for Non-Waterfront properties and 15.1 months supply for Privately-Owned Waterfront properties.

 

 

November 2011 Real Estate Review

Posted Dec 15 2011 by in All Things Hackensack with 0 Comments

Click Here For Supporting Documents

 

With 2012 just around the corner, many local markets have enjoyed strong sales volumes combined with falling inventory levels so far this year. For the 12-month period spanning December 2010 through November 2011, Closed Sales in the Great Lakes region were up 4.9 percent overall. The price range with the largest gain in sales was the $200,001 to $275,000 range, where they increased 9.1 percent.The overall Median Sales Price was down 2.4 percent to $139,700. The property type with the smallest price decline was the Water Access/River segment, where prices decreased 1.8 percent to $157,200. The price range that tended to sell the quickest was the $150,000 and below range at 161 days; the price range that tended to sell the slowest was the $400,001 and above range at 255 days.Market-wide, inventory levels were down 15.1 percent. The property type that lost the least inventory was the Water Access/River segment, where it decreased 6.2 percent. That amounts to 10.8 months supply for Non-Waterfront properties and 18.9 months supply for Privately-Owned Waterfront properties.

Dan Pflugshaupt

218-839-7700

October 2011 Real Estate Review

Posted Nov 23 2011 by in All Things Hackensack with 0 Comments

 

Click Here to View Supporting DocumentsWhat’s driving home purchases nowadays? Record low mortgage rates, affordable prices and plenty of options to choose from can’t hurt. For the 12-month period spanning November 2010 through October 2011, Closed Sales in the Great Lakes region were up 1.3 percent overall. The price range with the largest gain in sales was the $150,000 and below range, where they increased 6.1 percent.

The overall Median Sales Price was down 2.8 percent to $139,000. The property type with the smallest price decline was the Water Access/River segment, where prices decreased 1.3 percent to $158,000. The price range that tended to sell the quickest was the $150,000 and below range at 166 days; the price range that tended to sell the slowest was the $400,001 and above range at 253 days.

Market-wide, inventory levels were down 11.1 percent. The property type that lost the least inventory was the Privately-Owned Waterfront segment, where it decreased 3.8 percent. That amounts to 11.9 months supply for Non-Waterfront properties and 23.1 months supply for Privately-Owned Waterfront properties.

Pending home sales index rises from one year ago

Posted Nov 6 2011 by in All Things Hackensack, All Things Longville with 0 Comments

Pending home sales index rises from one year ago

NAR ups forecast for US economic growth

BY INMAN NEWS, THURSDAY, OCTOBER 27, 2011.

Inman News™

A monthly index that trackspending sales of U.S. resale homes rose in September compared to a year ago, while falling on a month-to-month basis, the National Association of Realtors reported today.

Also today, NAR released its latest forecast report for 2011 and 2012, revising up an earlier prediction for U.S. real gross domestic product growth in the wake of third-quarter GDP data released today.

Third-quarter data showed a 2.5 percent rise in GDP, compared with 1.3 percent in the second quarter. NAR expects U.S. GDP growth of 1.8 percent for the full year in 2011, with 2.3 percent GDP growth in 2012. A previous NAR forecast, released last month, anticipated U.S. GDP growth of 1 percent this year and 1.3 percent in 2012. Actual U.S. GDP rose 3 percent in 2010 and declined 3.5 percent in 2009.

NAR’s Pending Home Sales Index, which measures real estate sales contracts signed but not yet closed, increased 6.4 percent year over year, to 84.5, in September. On a monthly basis, the index declined 4.6 percent. The index typically represents about 20 percent of all existing-home transactions. An index score of 100 is equal to the average level of sales contract activity in 2001, which was the first year examined by the trade group.

Article continues below 

The index rose on an annual basis in all four U.S. regions. The Midwest saw the greatest increase, up 12.3 percent to 71.5. The region also saw the greatest month-to-month index decline, down 6.2 percent.

In the West, the index jumped 5.6 percent on a year-over-year basis in September, to 105.8 — the highest index value of any region. The region also saw the smallest monthly index drop, down 2.1 percent.

In the South, the index rose 5 percent year over year, to 91.6. On a month-to-month basis, the index slipped 5.5 percent in the region.

The Northeast saw a 4 percent index increase compared to a year ago, to 60.6, and a monthly decline of 4.7 percent.

In its latest economic forecast, NAR projects 4.955 million sales of resale homes this year (up 1 percent compared to 2010), and 5.169 million existing-home sales in 2012 (up another 4.3 percent), with the existing-home median price falling 4 percent this year, to $165,900, and rising 2.6 percent in 2012.

Sales of new, single-family homes, meanwhile, are forecast to fall 4.7 percent this year, to 307,000, and to rise 21.3 percent next year, to 372,000. The median price of a new home is projected to rise 1.8 percent this year, to $225,000, and jump 3.5 percent in 2012.

The interest rate for a 30-year fixed-rate mortgage is not expected to change much. The rate was 4.7 percent in 2010, and NAR forecasts a rate of 4.5 percent for the full year in 2011, and 4.7 percent in 2012.

NAR forecasts the unemployment rate to average 9 percent in 2011, and to improve to 8.7 percent in 2012; last year’s unemployment rate was 9.6 percent.

September Real Estate Review 2011

Posted Oct 17 2011 by in All Things Hackensack, All Things Longville with 0 Comments

To see supporting reports click here

It’s no secret that certain market segments tend to outperform others based on a number of factors. For the 12-month period spanning October 2010 through September 2011, Closed Sales in the Great Lakes region were down 1.1 percent from the same period a year prior. However, the price range with the largest gain in sales was the $1,000,001 and Above range, where they increased 12.8 percent.

The overall Median Sales Price was down 0.1 percent to $139,900. But the property type with the smallest price decline was the Water Access/River segment, where prices decreased 3.5 percent to $160,000. The price range that tended to sell the quickest was the $150,000 and below range at 162 days; the price range that tended to sell the slowest was the $400,001 and above range at 245 days.

Market-wide, inventory levels were down 10.9 percent. The property type that lost the least inventory was the Privately-Owned Waterfront segment, where it decreased 1.3 percent. That amounts to 13.2 months supply for Non-Waterfront properties and 28.3 months supply for Privately-Owned Waterfront properties.

Posted Oct 16 2011 by in All Things Longville with 0 Comments

 

Wondering if it’s a good time to buy real estate? The answer isn’t ever a straight yes or no, but often, “Yes, but it depends.” In order to answer this question for you, we first must understand the three most important words in real estate: Long-term ownership. When we buy property, whether as a personal residence or for investment, we do it in hopes that we are financially better off down the road than we are today. The chance of that occurring is very low if one does not own real estate for at least five or more years.

The reason is that transaction costs, repairs, monthly ownership costs higher than comparable rent, and ownership hassles, all dictate that it is better to invest your money elsewhere and stay as a renter if you are not sure you will own long term. Since you are going to be a long-term holder (and the longer the better) you really should not be that concerned with short-term current market price fluctuations because ten years from now the home’s value will be more than it is today. You should be concerned about is finding a house that you “love”—one that fits all the right reasons you want to own that particular property for a long time!

This could almost be the end of this article…but there are a few more issues to consider to make sure it is a good time for you to buy property. If you fail any of the below tests, you should think hard about whether or not it really is a good time for you personally to buy.

1. You are planning to be a long-term holder.

2. Payments are affordable and you have a steady job

3. It isn’t significantly more expensive to own over renting – this very important.

4. For investors, if it makes cash flow sense. Watch out for returns that appear too good to be true.

5. It is the right property for you for all the right reasons; i.e. you “love” it!

6. It is fairly priced relative to the recent comparable market sales in the immediate area for similar properties.

7. You plan to own it for a long time!

8. There aren’t too many foreclosures or vacant homes in the area. This is very important whether you are an owner occupant or investor. Empty unstable neighborhoods or communities have a higher risk of vandalism and risk downward price spirals.

9. It is in decent shape and doesn’t need much fixing-up. Skip the junkers, the ones with foundation issues, or anything labeled as “needs a little TLC” in the listing, as that means it is a wreck. Leave the fixers for the contractors. Doing it yourself doesn’t usually save you much money.

10. The home isn’t near a big vacant parcel, non-residential zoned parcel, empty or retail/industrial/religious site where you are not 100 percent sure what is going to be built or in use there. A new use of that land could impact your “quiet enjoyment” of your residential unit.

11. You complete the proper due diligence steps to reduce your risk as much as possible. Mind your contract terms and contingencies, pencil out your deal, get a couple of bids on financing and dissect your GFE, review the HOA condition, review the property condition, make sure you have the right type and amount of property insurance in place, make sure you adequately review the title abstract and title policy and everything else you need to do to lower your risk.

12. And you plan to own it a long long time! I laughed when someone once said “location, location, location” were the three most important words in real estate. Not only is that actually only one word but we pay a handsome premium for “location” and is that premium worth it? It may or may not be, but the phrase “long-term ownership” is by far and away the three most important words in real estate. To summarize: Subject to the above issues, it is always a great time to buy real estate but:

  • Not for everyone
  • Not at any price
  • Not just any property

Find a house you love or rental property that makes sense, something you will own for a long time, is in decent shape, lock in a long-term mortgage and sleep well.

Good Lake

Posted Oct 10 2011 by in All Things Hackensack, All Things Longville with 0 Comments

Woman Lake Chain: One of the most popular chain of lakes in Minnesota begins on the shore of Longville. Guests to the three lakes can travel by boat to downtown Longville. The three lakes boast some of the area’s best fishing and water recreation. Fishing is good all year long with a wide variety of species available. Walleye is the most popular fish caught on the chain, but Muskie, Large Mouth Bass, Northern Pike, Sunfish, Crappies and Perch are also abundant.

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