http://cranbrs.snappages.com Real Estate, Twin Cities Tue, 29 Nov 2011 16:53:00 +0000 http://snappages.com en http://cranbrs.snappages.com/blog/2011/11/29/no-blog-posts http://cranbrs.snappages.com/blog/2011/11/29/no-blog-posts Tue, 29 Nov 2011 16:53:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2011/11/29/no-blog-posts
]]> http://cranbrs.snappages.com/blog/2010/06/16/mpls-st-paul-2010-super-real-estate-agent http://cranbrs.snappages.com/blog/2010/06/16/mpls-st-paul-2010-super-real-estate-agent Wed, 16 Jun 2010 23:09:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2010/06/16/mpls-st-paul-2010-super-real-estate-agent July seems to be the time of year when awards are announced, and I recently learned that I have again been selected as a Super Real Estate Agent by Mpls St. Paul Magazine and Twin Cities Business.

What sets this award apart is that sales volume plays no part in the process. Instead, 120,000 [...]]]> July seems to be the time of year when awards are announced, and I recently learned that I have again been selected as a Super Real Estate Agent by Mpls St. Paul Magazine and Twin Cities Business.

What sets this award apart is that sales volume plays no part in the process. Instead, 120,000 consumers who have actually worked with real estate agents (including recent homebuyers) were asked to nominate and grade real estate agents based on nine criteria: communication, customer service, integrity, market knowledge, negotiation, finding the right home, marketing of a home, closing preparation, and overall satisfaction.

Nominees are scored, screened for disciplinary actions and reviewed by a distinguished panel of real estate industry leaders to come up with the annual list, this year including fewer than 4% of Minnesota real estate agents.

I always recognize the best in the industry when scanning the list each year. We (consumers and real estate professionals alike) are privleged to have so many dedicated, outstanding real estate agents in our area providing exceptional service each and every day.

Stacy Cranbrook

]]> http://cranbrs.snappages.com/blog/2010/03/21/what-is-it-like-to-work-with-christina-our-clients-say-it-best http://cranbrs.snappages.com/blog/2010/03/21/what-is-it-like-to-work-with-christina-our-clients-say-it-best Sun, 21 Mar 2010 20:02:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2010/03/21/what-is-it-like-to-work-with-christina-our-clients-say-it-best
Christina and her team with Edina Realty by far exceeded our expectations with quick responses and true care for helping us meet our goals. We will never use another real-estate agent, and refer all of our friends and family to them.

Sincerely,

Theunis, Cecily and Zander Moll

]]> http://cranbrs.snappages.com/blog/2010/03/01/enter-your-post-title-here http://cranbrs.snappages.com/blog/2010/03/01/enter-your-post-title-here Mon, 01 Mar 2010 13:24:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2010/03/01/enter-your-post-title-here
]]> http://cranbrs.snappages.com/blog/2010/02/01/4-out-of-10-homeowners-need-help http://cranbrs.snappages.com/blog/2010/02/01/4-out-of-10-homeowners-need-help Mon, 01 Feb 2010 13:27:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2010/02/01/4-out-of-10-homeowners-need-help 1.) If you live in the Twin Cities, call Stacy or Christina Cranbrook. 75% of all our Real Estate transactions in the past 2 years have been short sales; we know how to [...]]]> 1.) If you live in the Twin Cities, call Stacy or Christina Cranbrook. 75% of all our Real Estate transactions in the past 2 years have been short sales; we know how to help you.
Together we can decide what the best 'next step' is. All phone conversations are confidential. www.cranbrookteam.com

Cranbrook Team Realtors are Short Sale and Foreclosure Specialists in the Twin Citites.

]]> http://cranbrs.snappages.com/blog/2010/02/01/q-does-a-married-couple-qualify-for-any-tax-credits-if-spouse-a-has-lived-in-and-owned-a-home-for-at-least-five-years-and-spouse-b-has-lived-in-and-owned-a-home-for-less-than-five-years-enter-your http://cranbrs.snappages.com/blog/2010/02/01/q-does-a-married-couple-qualify-for-any-tax-credits-if-spouse-a-has-lived-in-and-owned-a-home-for-at-least-five-years-and-spouse-b-has-lived-in-and-owned-a-home-for-less-than-five-years-enter-your Mon, 01 Feb 2010 13:25:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2010/02/01/q-does-a-married-couple-qualify-for-any-tax-credits-if-spouse-a-has-lived-in-and-owned-a-home-for-at-least-five-years-and-spouse-b-has-lived-in-and-owned-a-home-for-less-than-five-years-enter-your Spouse A does appear to qualify for the $6,500 repeat buyer credit, but [...]]]> Spouse A does appear to qualify for the $6,500 repeat buyer credit, but because Spouse B has not owned and lived in the same principal residence for at least five years, neither of them can claim the repeat home buyer tax credit.

]]> http://cranbrs.snappages.com/blog/2010/01/27/q-how-can-two-unmarried-buyers-allocate-the-tax-credit-if-one-qualifies-for-the-8000-credit-and-the-other-qualifies-for-the-6500-credit http://cranbrs.snappages.com/blog/2010/01/27/q-how-can-two-unmarried-buyers-allocate-the-tax-credit-if-one-qualifies-for-the-8000-credit-and-the-other-qualifies-for-the-6500-credit Wed, 27 Jan 2010 14:36:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2010/01/27/q-how-can-two-unmarried-buyers-allocate-the-tax-credit-if-one-qualifies-for-the-8000-credit-and-the-other-qualifies-for-the-6500-credit A: The buyers can allocate the tax credit in any reasonable manner, provided neither claims a tax credit higher than the one they qualify for and the home purchase does not yield a total of more than $8,000 in tax credits. For example, the repeat home buyer could claim $6,500 and the first-time homebuyer could claim $1,500. Alternatively, [...]]]> A: The buyers can allocate the tax credit in any reasonable manner, provided neither claims a tax credit higher than the one they qualify for and the home purchase does not yield a total of more than $8,000 in tax credits. For example, the repeat home buyer could claim $6,500 and the first-time homebuyer could claim $1,500. Alternatively, both buyers could claim a $4,000 tax credit.

]]> http://cranbrs.snappages.com/blog/2010/01/27/edina-realty-partners-with-dress-for-success http://cranbrs.snappages.com/blog/2010/01/27/edina-realty-partners-with-dress-for-success Wed, 27 Jan 2010 14:33:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2010/01/27/edina-realty-partners-with-dress-for-success There’s a great new reason in town to clean out your closets. Its name is Dress for Success® Twin Cities. This non-profit organization is dedicated to promoting the economic independence of disadvantaged women in the Twin Cities by providing professional attire, a network of support [...]]]> There’s a great new reason in town to clean out your closets. Its name is Dress for Success® Twin Cities. This non-profit organization is dedicated to promoting the economic independence of disadvantaged women in the Twin Cities by providing professional attire, a network of support and the career development tools to help women thrive in work and in life. We’re encouraging the general public to drop off new or gently used interview appropriate women’s clothing at any of our 30 participating Edina Realty offices. We’ve been promoting this great new partnership on Facebook, Twitter, and with local press releases and media appearances of Jeri Qwest, Dress for Success executive director. Many of the women being helped by Dress for Success were previously homeless or are currently living in shelters.

]]> http://cranbrs.snappages.com/blog/2009/11/24/new-tax-credit http://cranbrs.snappages.com/blog/2009/11/24/new-tax-credit Tue, 24 Nov 2009 13:32:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2009/11/24/new-tax-credit
But you need to sign a purchase agreement before April 30, 2010 and close before June 30th. With rates still below 5% and other buyer incentives at unprecedented levels, you owe it to yourself and your family to explore all your options.

Call the Cranbrook Team Today for More Details!

This information is subject to change without notice.
1. Consult a tax advisor for details about your specific situation. This information is not intended to provide legal advice, tax advice, accounting services, or investment advice, nor should it be relied on for legal advice. Please seek the advice of your own legal counsel.


]]> http://cranbrs.snappages.com/blog/2009/11/24/what-to-do-if-you-are-facing-a-shorsale http://cranbrs.snappages.com/blog/2009/11/24/what-to-do-if-you-are-facing-a-shorsale Tue, 24 Nov 2009 10:36:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2009/11/24/what-to-do-if-you-are-facing-a-shorsale
1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as: Refinancing your loan at a lower interest rate; providing a different payment plan to help you get caught up; or providing a forbearance period if your situation is temporary. When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if:

Your property is worth less than the total mortgage you owe on it.
You have a financial hardship, such as a job loss or major medical bills.
You have contacted your lender and it is willing to entertain a short sale.
2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest. A qualified real estate professional can:

Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
Help you set an appropriate listing price for your home, market the home, and get it sold.
Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
Ease the process of working with your lender or lenders.
Negotiate the contract with the buyers.
Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can’t sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.
3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale “package” that accompanies any offer typically must include:

A hardship letter detailing your financial situation and why you need the short sale
A copy of the purchase contract and listing agreement
Proof of your income and assets
Copies of your federal income tax returns for the past two years
4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender’s review of the short-sale package can take several weeks to months. Some experts say:

If you have only one mortgage, the review can take about two months.
With a first and second mortgage with the same lender, the review can take about three months.
With two or more mortgages with different lenders, it can take four months or longer.
When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work your lender’s loss mitigation department on your behalf to prepare the proper documentation and speed the process along.)

5. Don't expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind:

You may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. If your financial hardship is permanent and you can’t pay back the balance, talk with your real estate attorney about your options.
Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify.
Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.




]]> http://cranbrs.snappages.com/blog/2009/11/24/how-to-file-your-taxes-and-get-tax-credit http://cranbrs.snappages.com/blog/2009/11/24/how-to-file-your-taxes-and-get-tax-credit Tue, 24 Nov 2009 10:26:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2009/11/24/how-to-file-your-taxes-and-get-tax-credit
Close on your home purchase between November 7, 2009 and April 30, 2010, or have a binding written contract by April 30, 2010 and close by July 1, 2010.


Decide whether to: [...]]]>
Close on your home purchase between November 7, 2009 and April 30, 2010, or have a binding written contract by April 30, 2010 and close by July 1, 2010.


Decide whether to:
apply the credit to your 2009 tax return, filed on or before April 15, 2010;
file an amended 2009 return; or,
apply the credit on your 2010 return, filed on or before April 15, 2011.


Attach documentation of purchase to your return.
Documentation of Purchase

Details concerning the precise documents required to confirm your purchase have not yet been released. When this information becomes available, we will include instructions and links to the appropriate forms.

When to Apply the Credit

Buyers purchasing homes on or before December 31, 2009 may claim the credit on their 2009 tax returns.



Buyers purchasing in 2010 will have the option to:

Claim the credit on their 2009 return, even if the purchase is completed after December 31, 2009;
File an amended return for 2009 if their purchase is completed after April 15, 2010; or,
Claim the credit on their 2010 tax returns.
If you, or your client, purchased a home between January 1, 2009 and November 6, 2009, please see: How to Get the 2009 First-Time Home Buyer Tax Credit.

Applying the Credit to Your 2009 Taxes

You will need to do three things to claim the credit on your 2009 tax return:

Fill out Form 5405 to determine the amount of your available credit;
Apply the credit when you file your 2009 tax return or file an amended return;
Attach documentation of purchase to your return or amended return.



]]> http://cranbrs.snappages.com/blog/2009/11/17/see-whats-happening-with-todays-market http://cranbrs.snappages.com/blog/2009/11/17/see-whats-happening-with-todays-market Tue, 17 Nov 2009 13:00:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2009/11/17/see-whats-happening-with-todays-market
]]> http://cranbrs.snappages.com/blog/2009/11/10/tax-credit-extended-and-expanded http://cranbrs.snappages.com/blog/2009/11/10/tax-credit-extended-and-expanded Tue, 10 Nov 2009 16:09:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2009/11/10/tax-credit-extended-and-expanded
The Tax Credit was also amended to include move-up buyers who've been in their current home 5 consecutive years or longer. Those eligible buyers will receive a $6,500 credit, as opposed to the $8,000 for first timers.

Income limits were also increased, a welcome change, from $75,000 to $125,000 for individuals and from $150,000 to $225,000 for couples. Additionally, the home being purchased must not be over $800,000.

The real estate industry expects this to give a great boost to the housing market locally. Local Realtors are especially excited about the buy up credit. It gives current homeowners, our proven mortgage holders, extra incentive to buy again.

The Real Estate and Mortgage industries alike expect increased activity from the tax credit extension and urge potential buyers to capitalize on their window of opportunity.

For more information visit the tax credit official site: http://http://www.federalhousingtaxcredit.com/

]]> http://cranbrs.snappages.com/blog/2009/11/10/ http://cranbrs.snappages.com/blog/2009/11/10/ Tue, 10 Nov 2009 11:39:00 +0000 Stacy Cranbrook http://cranbrs.snappages.com/blog/2009/11/10/
]]> http://cranbrs.snappages.com/blog/2009/11/05/tax-credit-extended-almost http://cranbrs.snappages.com/blog/2009/11/05/tax-credit-extended-almost Thu, 05 Nov 2009 13:12:00 +0000 http://cranbrs.snappages.com/blog/2009/11/05/tax-credit-extended-almost
]]>