Wonderful updated home with huge master BR addition! 2BR’s w/private baths, 3 FP’s, great private yard.   Huge bonus room not included in square footage to be finished as you like.   New roof and siding.  Hot tub on the deck!  Don’t miss this opportunity-lots of hardwood floors and special features.

See what other homes we have available!

Contact the Carpenter Group for expert help in finding your next home. 

Perfect executive, one level townhome.  Just imagine peaceful surroundings, pond & wetlands, wildlife, protected views and wonderful neighbors as you enjoy this exceptional property.  Updated kitchen, new hardwood floors, and many other upgrades!  3400+ finsihed square feet.  Excellent association!  Top rated Wayzata schools!  This home is move in ready today!

See what other homes we have available!

Contact the Carpenter Group for expert help in finding your next home. 

Remodeling and Investing in your Home

Remodeling magazine’s annual report shows that maintenance-related projects and moderately priced upgrades are providing stable paybacks, even in a slower market.

Despite home price drops in many cities, remodeling projects are holding their own as a way for owners to add value.  Given this news, it’s still a great time to purchase a bank owned home, complete a remodeling project and really increase your investment value! 

Many people are wondering where their money will be safest during these uncertain economic times. Regardless of the times, investing in your home still pays off.

NATIONAL ASSOCIATION OF REALTORS® statistics show that home prices have fallen by an average of 7 percent nationally in the past year. But the value of home owners’ investment in remodeling projects has declined only 3.86 percent on average between 2007 and 2008, according to Remodeling’s 2008–2009 Cost vs. Value Report.

Remodeling produces the Cost vs. Value Report each year in cooperation with REALTOR® magazine. REALTORS® responding to a survey in midsummer said home owners could expect to recoup a national average of 67.3 percent of their investment in 30 different home improvement projects. At the height of the housing boom in 2005, home owners could expect to recoup a national average of 86.7 percent on projects.

High rates of recovery were seen in both strong real estate markets and weak ones. 

Top 10 Project Paybacks 

As usual, exterior remodeling projects lead the way for recovery on dollars spent in this year’s Cost vs. Value survey. When you compare the national averages, replacement projects that boost curb appeal—siding, windows, and decks—give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level.

1. Upscale fiber cement siding (86.7%)

2. Midrange wood deck (81.8%)

3. Midrange vinyl siding (80.7%)

4. Upscale foam-backed vinyl (80.4%)

5. Midrange minor kitchen remodel (79.5%) 

6. Upscale vinyl window replacement (79.2%)

7. Midrange wood window replacement (77.7%)

8. Midrange vinyl window replacement (77.2%)

9. Upscale wood window replacement (76.5%

10. Midrange major kitchen remodel (76.0%

So invest in a home and your future today – prices will never be better!

Let us help you find a home in the best city to live - Plymouth, Minnesota!  Contact The Carpenter Group

See “What is my Home worth?“  to see if it’s time to take advantage of this market.

See Homes Currently available in Plymouth and surrounding areas. 

Minnesota law has made it mandatory for all single family homes in Minnesota to have a carbon monoxide (CO) detector located within 10 feet of each bedroom.  To help familes comply with this new law and stay safe, the Plymouth Fire Department has partnered with the Minnesota Safety Council to seel the Nighthawk Carbon Monoxide Dector from Kidde for only $32 (Suggested retail is $75).  The Nighthawk has consistenly been ranked number one by Consumer Reports.  See the City of Plymouth website for Ordering Information.    Helping residents is one of the many reasons plymouth was ranked as the Best City to Live! 

We can help you find a home in this great area!  Contact us - The Carpenter Group 

Find out more about Plymouth and the Surrounding areas we serve!

See the homes we have for sale in Plymouth and the surrounding areas

Find out “what is my home worth” and join us in the best city to live!

Home sales in the Twin Cities housing market continue to post healthy increases over last year, but behind the totals for September.  For the week ending October 18, there were 618 pending sales.  This is an increase of 9.6 percent over the same week last year and the 16th consecutive week of year-over-year upward movement. Foreclosures and short sales continue to be a large portion of these sales.

New listings for the same time period comparison were 18.1 percent lower, which represents the 30th week of the last 33 to have downward movement in new listing supply. The total inventory of homes for sale sits at 30,343, which is about 3,000 less than at this same time in 2007. Inventory should continue to fall through the remainder of the year but won’t fall as far as previous years given the higher number of foreclosures and short sales, which tend to stay on the market irregardless of snow depth and subzero temperatures.

In summary, there are still some great deals out there, so now is the time to take advantage of them! 

Contact us to help you find your next home - The Carpenter Group

Find out more information on the areas we serve - Community Information

The First-Time Buyer Tax Credit – 6 Important Facts

The $7,500 home ownership tax credit that the federal government created earlier this year as part of the Housing and Economic Recovery Act (H.R. 3221) is one of many reasons you should be come a homeowner in today’s real estate market. 

When you combine the tax credit with today’s low interest rates, wide selection of for-sale inventory, and affordable home prices, there are no excuses not to take advantage now!

Here are 6 key things you should know: 

1. You have until July 2009 to make a purchase that qualifies. 

The tax credit was passed in July of this year as part of the Housing and Economic Recovery Act (H.R. 3221). It’s worth up to $7,500 and can be taken in a single tax year. Authorization for the credit ends July 1, 2009, so if you wait to buy in the first half of 2009 you can take the credit on your 2009 tax return. Taxpayers can take the credit on their 2008 tax return if you bought your house this year after April 9.

2. You don’t really have to be a “first-timer.”

The tax credit is actually available to any individual or household that hasn’t owned a home for at least three years. And the NATIONAL ASSOCIATION OF REALTORS®  (NAR) has asked Congress to expand the credit to all buyers, not just those who haven’t owned a primary residence in recent years.

3. Even if buyers exceed the income limit, they can benefit from the credit. 

The actual credit amount is set as a percentage of the home purchase amount. That percentage amount is 10 percent, so your customers can get 10 percent of the home price credited against their tax liability, up to a maximum $7,500. Sounds like a great deal. But what if you make more money than the income limit of $75,000 for individuals and $150,000 for households? Good news: Individuals whose income exceeds the $75,000 limit but don’t make more than $95,000 can still take the credit but on a reduced basis. The same thing applies to households earning up to $170,000. By the way, any house is eligible as long as it’s a primary residence and is in the United States.

4. Think of it as an interest-free loan.  

The federal government requires the tax credit to be paid back in small, 6.67-percent increments over 15 years, although repayment will be no more than $500 yearly and payments will not start until 2011. For that reason, some analysts have likened the credit to a 15-year, interest-free loan to help make home buying affordable. NAR is pushing congress to remove the repayment provision, making this tax credit a true tax credit rather than an interest-free loan. 

5.  You don’t have to be authorized before making a home purchase. 

There is no pre-purchase authorization, application, or other approval process. Eligible buyers simply have to claim the credit on their IRS Form 1040 tax return and/or any form that the IRS might devise. 

6. New-home construction qualifies. 

For a home that a buyer constructs, the purchase date is the first date the buyer occupies the home. Remember, it must be your primary residence, vacation homes or income properties do not qualify.

The National Association of Realtors® is Asking Congress to Expand the Credit  

As mentioned above, NAR has asked Congress to do away with the repayment provision of the first-time buyer tax credit and expand the credit to all home buyers, not just first-timers. The proposals were part of a four-point housing stimulus plan the association submitted in mid-October.  

 “Housing has always lifted the economy out of downturns, and it is imperative to get the housing market moving forward as quickly as possible,” said NAR President Richard F. Gaylord. “It is vital to the economy that Congress take specific actions to boost the confidence of potential homebuyers in the housing market and make it easier for qualified buyers to get safe and affordable mortgage loans.

See Homes for sale in Plymouth

Contact the Top Realtor in Plymouth to find your new Home - The Carpenter Group

Open House Plymouth 18110 30^th Ave. N, $325,000

Sunday, November 2^nd, 2008 from 1 to 4 PM

Click here for more information and pictures for this beautiful home!

See - What is my Home Worth?

Let us help you find a home in Plymouth - The Carpenter Group

Now is the Time to Capture Fall’s Colors for Picture Plymouth Photo Contest Entries; Contest Deadline is Nov. 10

Whether you’re a practiced photographer or someone who gets a lucky shot now and then, consider entering the City of Plymouth’s Picture Plymouth Photo Contest. Prizes will be awarded in four categories - Plymouth Landmarks/Cityscapes, Plymouth Outdoors, Plymouth Events and Plymouth People. The deadline to enter is Nov. 10. Photos must be taken in Plymouth. Participants may enter up to four photos.

Winners will be published in the city newsletter, Plymouth News, and on the city web site. Many of the entries that are not selected as winners may be used in City publications and on the City web site. A grand prize of $150 will be awarded for the top overall photo. First place awards of $50 will be made in each of the categories.

“Plymouth was recently named as Money magazine’s Number One Best Place to Live in America. The contest is a great way for people to highlight what they think makes our community the best place to live. The idea is to have people who live and work here show Plymouth through their eyes. We’ve had some truly remarkable entries over the years that have captured the spirit of the community,” said Plymouth Communications Manager Helen LaFave.

For an entry form and contest details, visit the City web site, www.ci.plymouth.mn.us, or call 763-509-5091. Please leave your name, mailing address, phone number and the number of forms you need.

Live where you work and play!  Contact us to find your dream home in Plymouth! - The Carpenter Group

See Homes Available Today!

1. Search on the World Wide Web for distressed or foreclosed properties as a starting point. Use a professional REALTOR to identify great foreclosure deals for you. (Members of the Carpenter Group are Distressed property experts.)  You may be successful at searching the web on your own, but keep in mind some of the information is outdated, some may be incorrect, and some of the available properties are not even listed. We subscribe to updated MLS listings and can offer you the most current information available.

2. If you search yourself for distressed properties and purchase from the selling agent, you are paying a commission to someone with a vested interest. Obtain objectivity in the sale by working with your own REALTOR. You won’t pay any more. Technically, everyone works for the seller, since they pay the commission.

3. With distressed or foreclosed properties, time is of the essence. Purchasers must close on the date specified by the agency, and cannot close after this without penalties of $25-200 per day.

4. It takes 1-3 weeks to qualify a loan. If you are approved for a loan, make sure your lender qualifies you as soon as possible. If you are paying by cash, make certain funds are available. If finances are in order, we will then submit an offer. When both seller and buyer accept the offer, we will submit the ratified contract to the lender and closing agent. These steps will begin the process of a successful real estate transaction.

5. When purchasing a distressed property, always obtain 3-4 bids from different contractors to estimate costs of repairs, if you do not plan on doing the work yourself.

6. If you are going to sell the property after rehabilitating it, ask your REALTOR to research similar properties in the neighborhood to ascertain market price.

7. Keep copious records for tax deductions. Any expenses related to the purchase, repair, or maintenance of the property may qualify. Meticulous records are key to a profitable real estate venture.

8. The title you receive after purchasing a distressed or foreclosed property is a special warranty deed rather than a general warranty deed. This alarms some buyers, but there is no need to worry. The purchase of title insurance protects the buyer. Each lender purchases insurance to protect the loan as well. The property purchaser should obtain titling insurance. The closing agent always offers it.

9. Foreclosure properties require special addendums and special contracts by the individual bank and HUD office (where applicable).

10. Foreclosure properties are potentially the most profitable, but require the most attention to detail. Working with a REALTOR of the Carpenter Team,experienced in foreclosure deals, is highly desirable because the paperwork must be in order to submit a proper bid, and timeliness is critical.

Contact us to help you get started building your investment portfolio!