The Holmes Group Magazine

HOLMES GROUP M A G A Z I N E

WHAT IS MY HOME WORTH? BEAUTIFUL HOME ON OTTER LAKE OVERVIEW OF MODERN HOME DESIGN

Our listings this issue range from cozy and affordable, to multi-lot properties which are perfect for investment opportunities!

TH S SSUE 3-4 5-8 9-10 11-12 13-14

Holmes on Homes - What is my home worth?

Our Featured Home - Otter Lake Home Home & Style - Modern and Traditional Homes Listings Q&A

Joe answers client questions

Q&

A

Our Featured home this issue is a beautiful 5 bedroom retreat on Otter Lake.

This issue’s Holmes on Homes - Joe explains how the home market works

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The question I get most often from sellers is, “What is my home worth?�

Very simply put it is worth exactly what someone is willing to pay for it.

Go figure.

So let’s dive a little deeper into what that is and elaborate on the complexity as well. The complex answer is a little more involved with real estate economics and

the presentation of your home but the simple answer truly is your home is worth what somebody is willing to pay for it.

Real estate economics: What we do is we look at active, pending, and sold properties.

The active properties are our competition.

We have to be better than our competition in some way, shape, or form. This means a nicer home, better amenities, or a better price. We look at pending properties and determine how many are going to sell in the next 30-45 days. The ratio of pending sales to active listings gives us an indication if the market is balanced or not.

A 6 month supply of listings is generally viewed as a balanced market while less than that is in favor of the seller and more in favor of the buyer.

Lastly the sold properties. These are properties sold in last 4 to 6 months and similar in style, square footage and other

stats. This is our evidence of market value!

All together this data gives us a good idea of who your competition is, who we have to beat, and how quickly your home can sell at a certain price.

Presentation is key as well. Did you know that 90% of all home buyers are looking at homes online first. So this means you really only have one chance to capture an image, get it online, and make it look impressive.

To do this we use staging consultants, professional photographers, virtual tours, and anything else we can do to bolster the image of your home.

Once we maximize the presentation and research the economics, we can determine an answer to that simple yet complex question.

our

FEATURED HOME Welcome to 6049 Sargent Court in Lino Lakes. This custom-built home exudes details and has quality finishes throughout. This home blends the peace & serenity of the north woods with immediate access to the Twin Cities. Enjoy this 3.25 acre retreat with 255 feet of lake shore on Otter Lake adjacent to a 400 acre private reserve. There’s no need to go to the cabin on the weekend.. you’re already there!

General Home Details Custom built home Located on cul-de-sac 3.25 Acres adjacent to 400 acre private Ramsey County reserve Brick Exterior Circular Paver driveway 6 Car Garage (3 stalls up & spancrete below) Heated with Floor Drains 200 amp service with 100 amp service to lower level garage

Main Floor

Battery backup on sump pump

10’ Ceilings

1.5 HP well pump

3-piece cherry crown molding

Two electric water heaters

Cherry hardwood floors

Two AC units

Over-sized cherry casing & base

Two Geothermal heating units

Anderson Windows

New Septic – mound system

Central Vacuum Office with over-sized double French doors & round top windows

Entry 2-story vaulted entry Round-top front window Oil-rubbed bronze chandelier Over-sized double entry door Dual coat closets

Laundry Lake views Massive storage areas Tile floors Front load washer and dryer

Kitchen Open concept flows into family room, sunroom, butler’s pantry & entry Lake views Serving Bar Center Island Breakfast bar Custom Lighting Granite countertops 8’ custom cherry cabinets Round top windows Gas cooktop Dual wall oven Trash compactor Walk-in Butler’s Pantry with wine fridge, wet bar & buffet

Living Room Wood burning fireplace with brick surround, cherry mantel and woodwork Round top windows Double French doors

Family Room Cherry Beamed ceiling Brick surround wood burning fireplace with brick surround & cherry mantel Entertainment center West facing lake views Look out over patio & pool area Open concept flows into kitchen, side entry and ½ bath

Sunroom Aladin ceramic gas stove & supplemental electric heat Hardwood Floors Panaramic Views Walkout to Deck and Patio

Upper Level Catwalk with over-look to 2-story entry Built-in cherry bookcase 4 panel doors Oil rubbed brass sconces 9’ knock down celings Cherry trim finish 3-piece cherry crown molding Generous bedroom sizes with lake views Walk in bedroom closets The 255 feet of shoreline is breathtaking. With the lake, and wooded scenery, there is so much nature to take advantage of right in your backyard.

En-suite & Jack-n-Jill Baths

Master Suite Coffered Ceilings Separate sitting area w/ private views Double-sided surround

fireplace

with

marble

Built-in cherry bookshelves Custom lighting

Master Bath Oil rubbed bronze faucets Custom lighting Dual vanity Over-sized mirrors Dual medicine cabinets Walk-in closet Separate tub room with whirlpool tub, double sided marble fireplace and private views Separate stool and shower room with skylight

Arbor, Pool & Patio 2200 sq ft stamped concrete patio Heated below ground pool Electric pool cover Wrought iron fence Generous landscaping Western facing Lake views

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3555 Willow Lake Blvd Ste. 100 Vadnais Heights, MN 55110 651-379-1581 joeholmes@kw.com

HOME & STYLE Modern homes reference a style popular in the 1950s and ‘60s. Modern houses use flat or lower slope roofs, horizontal windows

and large, undecorated fireplaces.

They embrace the horizontality of the landscape and automobile culture.

Modern houses eschew fussy details and often employ high-quality materials such as marble, wood floors/ paneling, and stone, Snider said. The overall effect creates clean lines.

Simplicity Modern architecture is typically free of clutter and unnecessary elements. The goals of the project are clarified at the start, and only the features that are required are included in the design. Residential homes are often stripped down to showcase the architectural design of the home - the focus will be on the space itself, rather than on any decor or details not relevant to the overall design. Homeowners following a Modern aesthetic believe strongly in the idea of “Less is More”! Modern tastes enjoy simplicity and clarity.

Homes will be clean, functional, and simple. There are varying degrees of Modernism - some will opt for the strict design sense of true Minimalism, while others prefer to incorporate the minimalist aesthetics of Modernism in conjunction with their own personal style. Choosing your own design elements in the way of colours, textures, and interesting furnishings will help

create a more unique modern style.

Modern architecture breaks away from cookie-cutter design and traditional aesthetics. It strives to create home designs that go beyond “standard” ideas and instead pursue projects inspired by layout, location, and function. Frank Lloyd Wright’s mentor, Louis Sullivan famously stated that, “Form follows function”.

This idea is expressed by Modernisms’ tendency to have land or the function of a project dictate much of the design ideas. For example, Wright was famous for building with the land - his residential homes almost always relied on the lot to determine how the building was to be laid out. Wright believed that a building should be “one with the land” and not simply plopped down on top of it. Modernist architecture takes inspiration from the project itself - if the project is meant to showcase something, house something particular, or be occupied by a particular person, Modern architecture’s aim is to design for each unique situation and to be inspired by its purpose.

Listings our

2336 17th Ave E, North St Paul Fantastic 1 story home with updates from top to bottom.

Enjoy hardwood floors, tiled entry, updated kitchen & baths, carpet and paint throughout.

Rear patio space, over-sized garage and private back yard.

This cozy home was built in 1956. It boasts 4 bedrooms and 2 bathrooms. The total square footage is 1,674. It resides within the 622 North St. Paul School district, and is an ideal home for a family with or without children.

This home will impress. Don’t miss this one!

For a complete list of our homes, please visit: www.holmesgroupmn.com

619 Geneva Ave N, Oakdale This is a 4 lot sale perfect for an

investment

opporunity.

This is a 2-story home with just under one acre of land.

Two open lots for SFR’s or approach the city for higher density multi-family options.

Q&

Joe answers questions

he received from clients. Feel free to submit your own questions. Tweet us @HolmesGroupMN

Why is my home worth less than it was 10 years ago?

2006 was the peak of the market before the crash. Home prices are coming back in most markets and at this point are at or over pricing from that era. Mid to Upper bracket prices are still soft and that’s where we see really great deals as those price points haven’t recovered quite yet. For a more detailed analysis of your home’s value.. give us a call.

A Zillow’s estimate is different from my realtor’s... why?

Zillow is not an accurate pricing tool or system.

It simply averages price per foot sales in your area compared to your home’s size. You need to take into consideration so much more… quantitative differences of bed/bath/ garage counts, condition, lot size, etc.. Then you have to put the human element in that you can’t quantify with things like locational

influences, view, appeal items through

your home. Oh.. and don’t forget that Zillow is pulling info from tax records & the MLS on how big homes are.. so it’s subject to the accuracy of that information.

My neighbor told me to replace the carpet, paint the walls, and remodel my bathroom before I try to sell my home. Is this good advice?

Possibly.. It all depends on what’s best for you and your situation. We don’t come into listings with a “must-do” list. Instead we customize the listing to what your needs and wants are. Paint, carpet/ flooring & staging are the most effective ways to increase the appeal of your home that translates into a higher sales price. Bathrooms can get expensive and when you start remodeling rooms instead of the entire home.. it may not translate to profits.

I had a foreclosure in the past. Can I still buy a home?

You can be approved for an FHA loan 3 years after your foreclosure and 7 years for a conventional loan.

“After foreclosure” would be defined as the date the bank took the home back or after the redemption period ended. If you’re not sure when that was, call the county that the foreclosure took place in. They should be able to track down any info needed on past foreclosures.

How much of a home can I buy?

Where does this process start?

I like to start by combining mortgage info into the real estate search. If I were to ask you if you’d buy a million dollar home if the payment was $1,000/ month.. would you buy the home? So the purchase price you’re after is generally based on what it costs per month. So let’s work the equation backwards.. what is the maximum you want to spend a month on your mortgage payment (including taxes, insurance & mortgage insurance –if it applies). Then we back out the MI, taxes & insurance.. take the amount left over and translate that into a loan amount. From there.. we know the price range you want to shop in!

How does my home get on Zillow and Trulia?

When you list with The Holmes Group, your home is listed on the MLS. The MLS is a proprietary system for realtors to list residential & commercial properties, lots, businesses and more. Some of those larger sites pay for the opportunity to pull info & listings from the MLS but it all starts there. If you’re not on the MLS.. you’re really not listed for sale.

Remember we are always here to help in anyway we can!

Joe Holmes 651-379-1581 joeholmes@kw.com

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3555 Willow Lake Blvd Ste. 100 Vadnais Heights, MN 55110 651-379-1581 joeholmes@kw.com www.stockindesign.com