• Boardman Realty
  • Selling “as is”

    living room

    Homeowners often ask if they can sell their home “as is”. Most any home can be sold as it is. Buyers should always have a complete home inspection so that they know what they are buying. Sellers do not have to make repairs.

    Often sellers agree to some repairs because they can get more money for their home. First time home buyers will want to pay $1000 less for a home if it needs $200 dollars in repairs.

    For some selling a home “as is” means not replacing the old carpeting or worrying about the cost of replacing those ancient kitchen appliances. As long as the home is priced accordingly nothing has to be replaced or upgraded. If the house is in poor shape there are people who will buy it and fix it up, just don’t expect top dollar for it.

    Home owners who would like to make improvements or repairs for a better resale value should consider less expensive repairs and upgrades like cleaning, painting and putting in a backsplash in the kitchen and maybe some new light fixtures and window treatments. Go ahead and paint, repair or replace that front door and add a door bell. Put a nice big pot of flowers by the front door, weather permitting.

  • Friday fun
  • Happy Saint Patrick’s day

    Saint Patrick's day parade 2014

    It is Friday and Friday’s are for fun. It is also  Saint Patrick’s day, let the drinking and debauchery begin!

    I happen to live in an area where it is hard to walk more than a quarter of a block without being in front of a brew house, tap room, bar, or restaurant that serves beer. I am not complaining, just not partaking and will likely hide in my house until the worst is over.

    I often attend and enjoy the parade which starts at noon. You can find it in downtown Saint Paul. This year’s parade will be the 51st.

    Saint Patricks Day Parade
  • For Boomers
  • Aging population impacts home sales

    This chart shows the increase in the percent of the population 60 and older from 6 percent in 1900 to 16 percent in 2000 and projected to be 25 percent in 2030 and 26 percent in 2050. (U.S. Census Bureau)

    Total population by age

    An aging population has an impact on housing. There is all sorts of speculation about baby boomers. Will people move? Will they age in place? Will there be a great sell off in 2020? Right now there are more home buyers than sellers. Will that turn around in the next couple of years? Will the great sell off create a buyers market?

    How will lack of affordable health care affect the housing market going forward? The aging trend isn’t just about aging baby boomers. We all live longer and have fewer children which is causing permanent changes.

    Is there the right type of housing for all generations or will we all need to adapt to what is available and how will those adaptations affect our life styles?

    Pretty heavy stuff I know but I spend a lot of time at a nursing home and that gives me time to ponder aging and it’s impact on the housing market.

    Currently we have set yet another record low for the number of homes for sale in St. Paul. I think one of the reasons for the shortage of homes for sale is baby boomers who are staying put.

  • For Boomers
  • What we don’t know about home owners insurance

    An actual house fire in St. Paul last spring

    Most of us pay into our homeowners insurance policy and never collect. We have a high deductible plan which is fine. If the place burns to the ground we can rebuild.

    Generally homeowners insurance will cover the replacement cost of a home which isn’t quite the same as the resale value. If a home is totaled the owner has a lot to rebuild on. How much will it cost to build the same home? I don’t have a clue to be honest. Construction costs have gone way up since we purchased our home. We don’t know at this point if we have enough insurance but are going to find out.

    Home owners insurance isn’t like car insurance. There isn’t any law that says a person has to have homeowners insurance but if there is a mortgage the lender will require it.

    Most people don’t realize that many homeowners policies do not cover vacant homes. If your home is going to be vacant call your insurance company and ask if you will need to have something added to your plan for full coverage.

    Renters should always get insurance. As hard as it is to imagine landlords are not always insured and even if they are tenants belongings may not be covered.

    People do not always read their insurance policies. They are pretty boring but worth a read.

  • For Home buyers
  • Basic question to ask real estate agents

    Real estate agents like to talk about how many homes they sell each year. If you are hiring an agent I think it is more important to know if they will sell your home. One of the most important questions to ask an agent is how much experience they have.  New agents will charge as much as experienced agents.

    New agents may not even know what it is they don’t know. It is a good idea to choose an agent who has been selling homes for at least a few years. It isn’t like there is a shortage of agents.

    Don’t assume that because an agent is with a big well known company that they have experience. In fact real estate companies don’t sell real estate at all and real estate agents are independent contractors.

    You might know you are working with an inexperienced agent if he or she can not answer basic questions about the home buying or selling process.


    Roof tops as seen from the Pointe in downtown St. Paul
  • First Time Home Buyers
  • Rents are up

    Multi family home prices and sales

    Rents are up. The average rental price for a one bedroom apartment in St. Paul is over $900 dollars a month and I don’t know if that includes utilities.  Two bedroom apartments rent for an average of 1100 a month.

    The supply of multi family homes on the market is low and the prices have been rising. Right now there are  38 multi family home on the market and 14 of them have offers on them. The average asking price is $268K. It isn’t at all unusual for people who can not qualify for a mortgage to pay more to rent each month than they would pay to own a home.

    Home ownership isn’t right for everyone. Home ownership is at 62.9% which is the lowest rate since 1965.

    The numbers on the chart are from the NorthstarMLS which is deemed reliable but not guaranteed.

    Also see Home ownership still important