If you’re a biker living near downtown Minneapolis, you are probably living in your version of paradise. Once the weather gets warm, a new world of adventure opens up around the building, lakes, and bike trails that are scattered all over the city. Bike lanes have become the new convenient highways for commuters looking to stay green and stay active during their daily commutes.

The city of Minneapolis has done many things in recent years to enhance the environment for bikers near the downtown metro area. The new bright green rental bicycles have been an instant hit for people who want to go for a ride but don’t have a bike. On the City of Minneapolis website, there are endless miles of bike paths that can be explored around the metro area. You can even download a PDF file and print out the location you would like to visit. Riders can go by Lake Calhoun and enjoy the summer-like scenery or you could venture into multiple parks and ride through the lush wooded areas. The possibilities are endless.

If you would like to get into biking and have not purchased a bicycle, there are quite a few options for picking one up in Minneapolis. Instead of going to Walmart to get a generic bicycle off the rack, visit one of the specialized shops that are conveniently located around the city. Erik’s Bike and Board shop has a location in Dinkytown offering all types of bikes and even repair services if you happen to need work done. By the University of Minnesota campus is Midwest Mountaineering, which deals in all things outdoor. They sell helmets, riding gloves, and even specialized clothes for individuals who are serious about biking in the city. The shops can also offer advice and guidance for those who are new to biking.

If you would like to learn more about this exciting area and are looking to move closer to the action, contact Ben Ganje with Downtown Resource Group.

If you are looking to be a  Minneapolis condo owner, you will quickly discover how convenient some buildings can be in they city. Many offer phenomenal stores on the main floor on top of their excellent locations around Minneapolis. Cobalt condos in St. Anthony Main offers more than just a coffee shop or fast food joint, because the main floor of the building is a full scale Lunds grocery store.

Have you ever been cooking a meal and suddenly realized that you were missing one small but very important ingredient? It sucks! However, if you were living in the Cobalt complex you wouldn’t even have to leave the property. Any item you would typically find in a grocery store can be found at the Lunds on the main floor, offering unparalleled convenience when compared to other condo buildings in the city. Food shopping in grocery stores no longer becomes a trip each week and you could even buy food as you need it rather than days in advance. Meals remain fresh and waste is reduced because you can get items right when you need them. That is a cool way to grocery shop.

While other condo buildings have their own unique features, the Lunds grocery store in the Cobalt building is without a doubt one of the better additions to a complex in the city. The 30,000 square-foot store has all of the features you would expect in a traditional grocery store. The deli offers fresh cuts of your favorite deli meat while the produce stands are stocked with all the fruits and vegetables you could ever need. If you happen to lose you toothbrush or are interested in purchasing a new frying pan, Lunds has those items in stock. The convenience of having a grocery store on the first level makes the Cobalt building an attractive location for those looking for a new condo in St. Anthony Main.

If you would like more information about the Minneapolis condo market, contact Ben Ganje with Downtown Resource Group.

When listing your Minneapolis condo for sale, you need to recognize what you are actually selling. In some ways, selling your condo can be very similar to putting your car up for sale. You are selling a piece of your life, a subset of you, and in doing so, you must be prepared.

First and foremost, who will you have do the preparation and advertising?  Will you do it yourself or have someone you trust to represent you – someone who has experience?  Someone who knows your market best?

Secondly you should consider the type of condo you have – is it more of a sedan-style or do you own an all-out sportscar? Perhaps your home is uniquely architectural in style, a Lamborghini Countach so to speak, and would only appeal to a very select audience? If so, make sure your unit receives the proper representation, rather than listing it yourself or through an unknown real estate agent.

Regardless, whether you are selling a favored vehicle or your much loved condo, these five simple keys will help you to get the most out of your investment.

• Key 1: Know the Market – Evaluate information on condos that are similar to your own in your same location. Pay attention to the year, condition, and upgrades of comparable places, as you would a car. Instead of mileage, however, consider square footage. Use the classifieds or rather Craigslist to see “real” prices for quick sale condos. Make sure your pricing is in the ballpark before listing your condo.

• Key 2: Recognize Your Condo’s “Curb Appeal” - People make impressions quickly, with cars and with homes. Before you list yourproperty, take care to do whatever “detailing” you can to spruce it up. You want your sellers to feel so “at home” that they won’t want to leave, similar to the feeling of wanting to drive a new car off the lot. Maintenance records and warranties that apply to your condo are great to show, if you have them. Keep in mind that a well-loved and maintained space is a much more attractive purchase than a neglected one.

• Key 3: Showing Your Condo - When you sell your condo, people will also be catching a glimpse into your life. Buyers may be uneasy about their decision and answering their questions openly can smooth things over. If a potential buyer asks to have a home inspection (similar to having a mechanic review a car prior to purchase), recognize the validity of the request and ask to see the report once completed.

• Key 4: Negotiate Until Everyone is Happy - Once the inspection or “test drive” has been completed, most buyers will accept the unit “as is” or want to negotiate fees in exchange for the “fixes”. As a seller, it is wise to consider all possibilities, perhaps the sale price could decrease to accommodate the needs, or perhaps a favorite contractor could make the changes quickly and easily. Make sure you reach an agreement with a buyer that is contingent on the sale closing before performing any repairs.

• Key 5: Finalize the Sale - Rules governing the sale of motor vehicles AND the sale of homes vary from state to state and even county to county at times. Having a trusted real estate agent and escrow company to guide you through the legal jargon can be invaluable. The money from the sale and proper paperwork required with each sale can be overwhelming and you will come to rely heavily upon those guides.

Once your home is sold, remember to remove your belongings, as you would with your car, and don’t forget to hand over the keys. If you would like to learn more about the Minneapolis condo market, contact Ben Ganje with Downtown Resource Group.

You’ve finally found the Minneapolis condo that is just right and made an offer and it was accepted. Now you just wait for escrow to close, right?  Wrong.

Now is the time to have the condo inspected to make sure you are aware of any possible issues in the unit before it’s too late and the deed has been transferred. An independent inspector can evaluate your potential condo on a structural and functional level and give you a full report, generally in under two hours. This report can help you feel at ease with your purchase and alert you to any areas of concern.

If there is a swimming pool or spa or unusual kitchen appliance or fixture, you may want to have that inspected individually by a reputable repairman in that field. Questions and concerns relating to asbestos, lead or chemicals, mold and mildew, or pests will need to be directed to an inspector licensed in those specific areas of expertise.

Generally speaking, a condo inspection on a property for sale will cover the following areas:

• An evaluation of the walls, ceiling, floor, roof, firewall, windows, foundation and slab.
• Inspection of the landscaping, looking particularly at grading and drainage, although drives and walkways, fencing, trim, doors, windows, and outlets will be checked as well.
• General framing as seen in exposed beams or attics, ventilation, duct and plumbing systems, and the condition of roofing materials, plumbing and rain gutters will be noted, too. Water heaters, fireplaces and the sprinkler system should be evaluated.
• The electrical sources and wiring in the home will be inspected, from circuit breakers and grounding systems to exhaust fans and receptacles.
• All appliances, including the garbage disposal, alarm system (if needed) and all smoke detectors.

Every county and state has different regulations in regards inspections, so it it best to use a local inspector recommended by someone you trust. If the inspection uncovers issues in the home regarding health and safety issues, a need for the roof or ventilation system to be replaced, a problem in the condo’s foundation or significant drainage concerns, you will want to further explore the problem at the seller’s expense.

The adage “one shoe fits all” does not work when buying condo.  It doesn’t work when shoe shopping, either, for that matter!  Minneapolis condo searching, like shoes, is very personal, and often involves emotionally-based purchases.

Try as they might to create a condo that will meet every need and every taste, builders are aware that it just can’t be done.  As with shoes, versatility lies in key components – simple design, elegant tones, and a combination of shine, style and comfort.

As with your shoe purchase, condo searching requires you to consider what is most important to you and your future plans.

• Open design vs. cozy comfort?
• Modern storage options vs. vintage style?
• Planned, pre-designed landscaping vs. creative gardening?
• Modular vs. eclectic structure?

You should also consider how and who will be using the unit.  Should it be tailored to you or is it an investment property?

• Primary residence or vacation getaway?
• Adults only? Adults and pets? Adults, children and pets? Renters?  College students?
• Will it be used to entertain often and is parking sufficient?  Do you need a guest room?

Of course, there are many other questions to be considered, so take your time with your Minneapolis condo purchase. Enjoy the journey as you find the home that is the perfect fit for you and your circumstances. And when you find the palce that makes you want to click your heels so you can return?  Make an offer!  As to shoes?  If the shoe fits… buy it in every color!

For more information on the Minneapolis condo market, contact Ben Ganje at Downtown Resource Group.

Condo buyers interested in short sale units and the sellers of such places had some good news this week. Freddie Mac established new timelines to aid in expediting decisions for borrowers. Under the new guidelines, once a completed application has been submitted, a decision must be reached within 60 days. Applications can come in the form of a traditional offer or a Borrower Response Package (BRP). After 30 days, weekly updates are now required, as well. If a counteroffer is extended, response time has been regulated too, allowing borrowers 5 days and the servicer 10 days to come to a decision.

The recent real estate market resulted in 45,623 short sales closed by Freddie Mac in 2011, an increase of 140% from the amount of short sales they serviced in 2009. According to Tracy Mooney, Senior Vice President, Single-Family Servicing and REO, of Freddie Mac, “Short sales are more complex than routine home sales since they may involve multiple parties and long-distance negotiating. Freddie Mac’s new timelines are intended to help make the decision process more transparent and timely for short-sales under the Obama Administration’s HAFA program or Freddie Mac’s traditional short-sale option.” Mooney went on to say that, “Today’s announcement underscores our commitment to help reduce credit losses and taxpayer risks by supporting more opportunities for sustained occupancy in our nation’s homes.”

Keep in mind that if you are purchasing a condo through the short sale process, you may need to spend more time and research in identifying the condo you decide to purchase and expert help is always advised.  Make sure you compare and physically view the property, research any liens or mortgages and contact lenders directly, along with completing your application and offer before negotiating and completing the sale.

To find out more about this process from a home seller standpoint, contact Ben Ganje with Downtown Resource Group.

When a potential buyer considers a Minneapolis condo for sale, they are looking for more than a place that “feels” good, they also want to make sure their needs and wants now and in the future can be met. One of these needs is often a concern for safety. Whether it is safety in regards to stability and workmanship of the condo or safety in terms of investment potential or location, you can bet it is on their mind. Many first time downtown condo buyers are also looking at safety on a different level – considering possibly whether the space will be safe for their children or potential family.

Child safety may not be something that you reflect on when preparing your condo for sale, but it really does matter in the minds of most buyers. While they won’t expect your unit to be outfitted with the latest in baby proofing technology, they will expect some general safety parameters to be followed.  Most safety measures require little effort or cost, but contribute greatly to a sense of well being in the minds of potential condo buyers.

The following questions may help your condo for sale to be considered (at least subconsciously) as a safe place for their future home.

• Are your floors clean and walkways clear?
• Are cleaning supplies and garage materials placed together in a secure or out of reach cabinet?
• Are your windows and doors lockable and do your interior and exterior doors shut securely?
• Can you replace any corded mini-blinds with alternative window coverings?
• Are there modifications needed to fireplace hearths, concrete, or brick work that will make your condo safer?
• Can you remove or secure any electrical or cable cords and are your electrical outlets in good condition?
• Are there areas in your condo that can to be fixed or tightened up inexpensively? Children have a way of loosening and removing anything that is not absolutely secure.
• Have your knickknacks and fragile items been removed or packed up so that they are not harmed if children attend the open house?
• Have you removed or secured all toiletries (ie. razors, medicines and toothpaste) in your bathrooms so they are not generally accessible?
• Should you purchase a throw rug to deter the possibility of someone slipping in any area of your condo?
• If you have a pool or spa, do you have the required number of barriers or gates in place to protect children?

Lastly, consider having someone crawl through your condo on their knees, viewing it as a child might. If something looks enticing or potentially dangerous, eliminate it until your condo is sold.  Considering these items will not only help sell your Minneapolis condo, it will also help you to rest easy knowing your condo and personal items are safe from harm when families view it during the selling process.

Your Minneapolis condo is a place or safety and security, a refuge from the storms of life.  However when and if disaster does strike, you may need a little know-how to get through the process of filing an insurance claim and you will likely be surprised at the amount of time consumed with such a process.  Obviously, you will have as one of your key concerns the costs involved with the restoration of your Minneapolis condo in regards to what your homeowner’s insurance may cover.

While this process is one you can research on your own or with the help of an adjuster from your insurance company, you may find that turning to an additional public adjuster for aid in documenting your insurance claim to be very helpful. A public adjuster works independently from your insurance company and can evaluate your home and damage and coverage to determine the best means of reporting your loss.

Here are some steps to follow when hiring a public adjuster to deal with your condo disaster:

1. Only interview and hire an adjuster who is licensed and ask about their level of experience in downtown Minneapolis.
2. Make sure you speak directly to the adjuster who will be evaluating your loss each time you call regarding your condo, to lessen the risks of misunderstandings.
3. Question the adjuster’s experience and credentials in the Minneapolis condo market and call past client referrals and ask for details. Your adjuster should be willing and able to supply you with this information easily.
4. Double check that the adjuster you are working with is local and will work with any contractors you want to hire, if necessary.  Ask if they will help you in calculating living expenses, if applicable, or just with damage estimation.
5. Educate yourself.  Since public adjusters work on contingency fees ranging from 5% to 15% of the insurance proceeds, it is wise to negotiate these fees and have them defined in a signed contract.

If you want to learn more about the Minneapolis condo market, contact Ben Ganje at Downtown Resource Group.

  With the excitement of Spring coming upon us, many of us in Minneapolis take a closer look at the condition of our condos and lofts, even if we do not have one for sale.  Upon deeper inspection, we may find areas that need an extra bit of care.  If you happen to notice mold in your Minneapolis condo, do not panic.  Instead take a deep breath (outside) and a few minutes to educate yourself!

While mold can be dangerous to your health, with symptoms ranging from breathing problems or congestion and watery, red eyes to aches and pains and even memory loss, it is also an issue easily solved.  Mold can grow in areas of constant moisture, as a result of flooding, a leaky roof or plumbing, or improper ventilation in rooms that are moist.

If you discover mold while your loft is for sale, a professional inspection and treatment should be done. If not, then you must first determine the source of moisture to begin your plan of attack.  If the area is large, you should consult with a professional for proper treatment methods.  If however the damage is slight or only affecting a small area, you may want to attempt the repair yourself.

After applying the appropriate protective gear (mask and gloves), you need to remove all porous materials such as ceiling tiles, drywall, carpeting and wood.  Non-porous surfaces such as cement, metal, tile or glass can remain.  Allow the area to completely dry over a 2-3 day period and use fans if necessary to help in this process. Then, with a non-ammonia detergent and a stiff brush, scrub the entire area, rinse and dry. Once dry, disinfect the cleaned surface with a solution of bleach and water (use one cup of bleach for every gallon of water). Allow the area to dry completely and then, retexture, paint, or decorate as needed.

Mold has been a problem in the past in a number of Minneapolis condos–having Ben Ganje and his team of real estate agents at Downtown  Resource Group work for you can ensure you can avoid buying a condo with these conditions!

Buying a Minneapolis condo still has more appeal than renting for Americans, according to Fannie Mae. A sign of stability, safety, family and community, condo ownership is an essential component of the “American Dream” of success and happiness and has been for many generations. The recent National Housing Survey (Q4, 2011) conducted by Fannie Mae found that this is still true.

The majority of those surveyed (at all education and demographic levels) still believe that buying a downtown condo is preferable to renting. The study, conducted from over 3,000 interviews, also showed that 64% of the renters surveyed planned on a future condo purchase. Most of the survey participants listed high-ranking schools and safety as prime concerns when considering the location of that future home.

About 34% of those interviewed felt that “now” is a very good time to buy a home, but only 5% felt it was very likely that they would be purchasing a home in the next 12 months. The majority of survey participants (53%) felt that the housing market was likely to stay the same in the next year, but nearly all realized that the possibility of rental prices decreasing was unlikely. In fact many of those surveyed recognized the possibility of rental prices increasing, with 43% believing rents would increase and 47% believing they would stay the same. The majority of the respondents listed income, amount of down payment or job security as the largest obstacle to home ownership.
To learn more about purchasing a Minneapolis condo, contact Ben Ganje with Downtown Resource Group.