Archive for November, 2009

Minneapolis Ranked #1 in National Night Out

Minneapolis is a great place to live! 

For current listings and more info visit www.MichaelSharp.com today! 

Minneapolis remains a national leader in how it plans and executes its annual National Night Out events. For the seventh time in the past nine years, Minneapolis has won National Night Out’s top award for cities with populations greater than 300,000.

Minneapolis remains a national leader in how it plans and executes its annual National Night Out events. For the seventh time in the past nine years, Minneapolis has won National Night Out’s top award for cities with populations greater than 300,000.

For more information on this article visit the City of Minneapolis website at 

http://www.ci.minneapolis.mn.us/news/20091117_NatNiteOut1Ranking.asp

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What’s Happening in Minneapolis This Weekend

Hello Everyone!  There are a few great public events taking place in Minneapolis this weekend that I thought you might like to know about!

“Turkey Trot” – 5K Run (begins at 8:20am), 5K Walk (begins at 8:30am) and Kids Carnival (begins at 7:30am) located in Lifetime Fitness Minneapolis, Target Center.  For more information visit the event organizer’s website at http://www.lifetimefitness.com/events/turkey-day-5k/

“Drumstick Dash” – Thanksgiving Day (Thursday) at 8:00AM.   The Drumstick Dash is a run on the road around Lake Harriet.  This mostly flat 6.2 mile course begins and ends near the Lake Harriet Bandshell.  For more information visit the event organizer’s website at http://www.clubrun.org/

“Hollidazzle” – The Hollidazzle Parade begins this Friday, November 27th at 6:30PM.  Thrilling the crowds on Nicollet Mall from 12th Street to 4th Street, Target Holidazzle continues Thursdays through Sundays until December 20. Brave the wind chill and watch streetside, or keep warm in the “Hot Seats” or downtown skyways.  For more information visit www.holidazzle.com

While you’re out at these fantastic family fun events and would like to stop by my office please give me a call today at 612-720-4300 or e-mail me at msharp@michaelsharp.com!

Happy Thanksgiving Everyone!

Existing Home Sales Jump 10% in October!

Thanks in part to the newly extended tax credit, sales of existing homes increased by 10.1% (to a 6.10 million annual rate from 5.54 million in September).  

Sales activity is at the highest since February 2007 when it hit 6.55 million.

Historically low interest rates are also boosting the market. “Mortgage interest rates last month were the third lowest on record dating back to 1971,” Yun noted. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 4.95 percent in October from 5.06 percent in September; the rate was 6.20 percent in October 2008. Last week, Freddie Mac reporter the 30-year rate dropped to 4.83 percent.

With great low interest rates and tax incentives, it’s a great time to buy!  Call me today at 612-720-4300 or visit www.MichaelSharp.com

Property Management Companies for Condos and Townhomes

Condo/Townhome life can be “easy living” for the busy professional. Management fees typically cover things from heat, a/c, sanitation, snow/lawn care, basic cable, hazard insurance, professional management, etc. Downtown Minneapolis condo fees range from approximately $250 to over $2,500 per month depending on the services and amenities provided. Association fees are typically charged to homeowners based on percentage of ownership (based on the Governing Documents of the particular association, sometimes square footage). Some condo/townhome homeowners argue the service the management companies provide does not match up to the rising cost in association fees. On the contrary, some homeowners believe life with a management company is much easier than maintaining certain things on a regular basis (such as exterior maintenance). Property Managers work 24/7 and most condominium management companies offer an “after hours” maintenance emergency line for those unexpected problems that may arise after regular business hours. Many downtown Minneapolis condominiums also have front desk/security staff, some even 24 hours. There are quite a few fabulous upscale Minneapolis communities that we have heard a tremendous amount of great things about. A few are Winslow House (went through a recent renovation to update the elevators and hallways, and having dedicated friendly staff for years) and LaRive Condominium (24 hour friendly staff with an amazing double staircase entryway and all the amenities you can think of). For a few current listings at each condominium visit my website at www.MichaelSharp.com. Or If you have any questions about the downtown real estate market, or to find your next home, please don’t hesitate to call the Michael Sharp Team today (612-623-4100).

Market Activity Report

Click Here for a Market Activity Report

Traditional pending sales (excluding foreclosures and short sales) were up 55.0 percent from last October, a sure sign that demand is beginning to spill over into that segment.

To see my current listings, visit my website at www.MichaelSharp.com

Information on Tax Credit

Frequently Asked Questions
About the First-Time Home Buyer Tax Credit

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns.

The income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009, are $75,000 for single taxpayers and $150,000 for married taxpayers filing joint returns.

The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.

For more information: http://ping.fm/TB1cG

Frequently Asked Questions
About the Move-Up/Repeat Home Buyer Tax Credit

The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).

The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.

For more information: http://ping.fm/ACxpK

Meet Michael Sharp at an Open House 2-4PM, Charming Minneapolis Garden Level “Chateau Des Lacs” Condo

Charming garden level “Chateau Des Lacs” condo Updated in 2007 with 2 bedrooms and1 bathroom. Spacious living room and dining room with hardwood floors. Perfect layout for entertaining! Open kitchen with granite countertops and breakfast bar, stainless steel appliances, ample cabinets, and tile flooring. Updated full bath with ceramic tile flooring and surround. Spacious master suite and second bedroom both have hardwood floors. This home is tastefully decorated throughout from top to bottom and shows like a model! Plus you have a storage locker and your own washer and dryer in the laundry room along with space for bike storage. Perfect location near Lake Calhoun, Uptown, shopping, restaurants, and entertainment. Immaculate & ready to move in!

Click Here to see the Virtual Tour