Barker and Hedges Real Estate Blog

One of the first decisions you make when you begin to look for a home is whether to buy new or purchase an existing house. While there are some advantages to purchasing a resale home, here we will discuss many benefits of buying a new home.

1. New Home Pricing. Though the price of a new home may be higher than the price of an existing one, a new home is likely to need fewer repairs or replacements. Also, if you buy a new home in a desirable neighborhood or location, the value may increase even more and you will likely sell your home for a higher price than when you bought it if you decide to move.

2. A Well Planned Neighborhood. Builders incorporate desirable amenities such as recreation areas, neighborhood clubhouses, swimming pools, playgrounds, sidewalks, and paved trails into new communities. Do you seek to live among older residents, families with young children, or in an area that encourages an active lifestyle? New home buyers get to choose what type of community they want to live in as well as their home site or unit. Choose a home at the end of a cul-de-sac if you desire to live around minimal traffic. Perhaps a home situated near a park is what you seek? The location is your choice.

3. Modern Design. New and better ways of constructing homes are being developed every day. Likewise, consumer trends change and builders respond by drafting floorplans to accommodate modern client needs, like oversized family rooms, larger closets, built-in media niches, and large, up-to-date kitchens.

4. Warranties. A new home comes with a builder’s limited warranty, which is something an older home cannot provide. A warranty typically covers new appliances, carpets, mechanical equipment, and overall construction, such as roofing and siding. As with all warranties, they don’t last forever but they can cover various items for one to ten years!

5. Energy Efficiency. With modern insulation, better windows, and more efficient heating and cooling systems, new homes are much more energy efficient than an existing home. Also, new homebuilders are required to meet stricter energy codes than in the past. This is an enormous cost-saving benefit when one considers the price of oil and fuels these days.

6. Modern Wiring. With the popularity of home computers, media centers, surround sound systems, and other modern technologies, new homes are typically wired to accommodate electrical components that weren’t around when scores of existing homes were built.

7. Health Conscious Construction. New homes may offer health advantages, as they are built with modern building materials. Contaminants that may exist in a resale home, such as asbestos or lead paint, are nonexistent within a new home.

8. Modern Appliances. Homebuilders are able to offer the latest state-of-the-art equipment at the time of a new home’s completion. Dishwashers, stoves, microwaves, refrigerators, all fully installed with modern water and energy standards.

9. Low Maintenance. The latest in building materials also translates into the ultimate in convenience for new home buyers. New homes are practically maintenance-free for up to ten years and in some cases, beyond.

10. A New Home Is All Yours. When you purchase a newly constructed home, you have a hand in creating the home you desire, instead of having to change the home to your preference. From the flooring to the appliances, all aspects of the home can be fit to your tastes from the day you move in.

Buying a home is an emotional decision for most people. Whether to buy new or used has been a topic of discussion for years. While there are some advantages to purchasing a new home, here we will discuss many benefits of buying a resale home.

1. Existing features. Finished basements, water irrigation systems, fences. When you buy an existing home, you buy the extra improvements that have been made to the land and structures.

2. Land. New homes tend to be built on smaller lots. In some cases, home or garages can be too close for comfort to someone who likes their privacy. When you seek to purchase an older property, you can often find a home with a larger yard or even acreage.

3. Established neighborhoods. From their tall, mature, tree-line communities to the residents that have been living there for years, resale homes in established area have the benefit of long-term stability going for them. You can meet your neighbors before you move in. New subdivisions are generally on the outskirts and all of the residents are new or may not have moved in yet.

4. Mature Landscaping. When you purchase a resale home, upkeep on the land is less strenuous. Installing landscaping elements yourself can be costly. Established lawns and existing landscaping require less money and maintenance than new plantings.

5. Cost savings. Existing homes are usually less expensive per square foot, in part because of escalating land costs in new subdivisions. The modern building materials that new homes are constructed with also cost more. In addition, the price of labor associated with building a home has gone up considerably in recent years.

6. History. When you purchase an existing home, there is a record how much the property has appreciated over the years.

7. Character. Though new homes are customizable in many ways, they still tend to be built in a somewhat generic manner. Homes with the same floorplan may be just across the street. A resale home could be a pre-Civil War farm house, a beautiful Victorian, or a Greek revival as easily as it could be a rambler, a split-level, or a ranch-style house.

8. More room for negotiation. Builders have a number of costs to recover when developing a new community. Often they have a minimum amount of money they must receive and will not budge on their price. When purchasing a resale home, you may have more flexibility with an eager seller.

9. Availability. Waiting for a new home to be finished can take forever. And if there is still construction going on the area, you will have to navigate around construction workers and vehicles, daytime hammering, and stray nails for months. A resale home is already there waiting for you to occupy it.

10. Taxes. Newer homes tend to spring up in less-developed areas, which may impose higher taxes for services such as fire and police coverage, sidewalks, sewers and possibly even a new school. An existing home in an established area has a more predictable property taxes.

Highland Park is a neighborhood that can be found in the southwestern corner of Saint Paul, Minnesota. It lies just north of Fort Snelling along the Mississippi river. The rest of the boarders for the neighborhood are Randolph Avenue to the north, West 7th Street and Minnesota Highway 5 to the south, and Interstate 35E to the east. If you’re looking for a neighborhood that has everything, St. Paul’s Highland Park may be the perfect fit for you. From retail to recreation, real estate in this area has a lot to offer.

Is great shopping what you desire? You’ll find everything you need at the Highland Village Shopping Center. The Village includes a Lund’s grocery store, a Barnes & Noble book store, R.F. Moeller Jewelers, the Highland Movie Theater, Punch Neapolitan Pizza, the Highland Grill, and a variety of other restaurants and coffee shops.

Are you always on the move? Interstates 94 and 35E are readily accessible to the Highland Park neighborhood. The Minneapolis and St. Paul International Airport is directly across the river. Both downtown St. Paul and Minneapolis are just a few minutes drive away.

If you enjoy a more leisurely pace, Highland Park has much to offer! The neighborhood is pedestrian friendly, with plenty of sidewalks and paths. Many amenities are within easy walking distance. There are also several biking, running, and walking trails along Mississippi River Boulevard. With Highland Park’s proximity to the Mississippi River, this Saint Paul neighborhood provides lots of green space, wooded trails, and picnic areas. Hidden Falls Park and Crosby Farm Regional Park are popular places for outdoor recreation. With the Highland Golf Course, Highland Pool, and several tennis courts within its boundaries, there are plenty of other opportunities to kick back and have some fun.

The Highland Park Business Association, in cooperation with local community volunteers, put on Highland Fest in the Highland Village every summer. The annual festival features music, carnival rides, an art fair, fireworks, and more!

This neighborhood is served by Highland Park Elementary, Junior High, and Senior High schools. There are two private preparatory schools - Cretin-Derham Hall High School and St. Paul Academy and Summit School. Highland Park is also home to the College of Saint Catherine, the nation’s largest college for women.

Highland Park is a middle-class to upper-middle class neighborhood with many single and multi family dwellings within its boarders. The area has a mix of well maintained older housing, commercial and retail property along with a sprinkling of light industrial buildings. The Ford Plant, a major employer here, builds the Ford Ranger pickup truck and the Mazda B-Series small pickups. However, the plant is closing in 2009, which will open up quite a bit of prime real estate. The land may be used to expand Highland Park’s residential capacity.

Because settlement in the Highland Park neighborhood dates back to the 1850s, there are a wide variety of architectural styles in the area. There are solid farm houses and custom homes still standing from the early 1900s. There are Tudor-style homes that were built in the 1930s. A housing boom in the 1940s brought bungalows and Cape Cod style homes. It is not uncommon to see ramblers from the 1950s. Homes in Highland Park typically sell for between $175,000, but prices do vary. Some homes are worth over 2 million dollars!

View homes for sale in the Highland Park neighborhood of Saint Paul, Minnesota.

Click here to view other neighborhoods in Saint Paul.

Built in 1951, this single family, one 1/2 story home is in a prime area of the Highland Park neighborhood in Saint Paul, Minnesota. This beautiful home has 3 bedrooms and 2 bathrooms.

This home features hardwood floors on main level! The living room has a gas fireplace.

The updated kitchen has stainless steel appliances. The full lower level features a finished basement with a family room area, 3/4 Bath and plenty of storage!

The property has a 1 stall garage and a fenced private backyard!

Price: $ 289,900

More pictures and information is available Barker & Hedges property information.

There are virtual tours available for this home, which can be found here.

Browse all homes for sale in the Highland Park Neighborhood of St. Paul, Minnesota.

Browse other Saint Paul neighborhoods.

This two-story, single family home in the Highland Park neighborhood of Saint Paul, Minnesota, was built in 1936.

The eat-in kitchen has been updated.  The kitchen has a breakfast area, but there is also a separate formal dining room.

This charming home features traditional natural woodwork finishing, built-ins, upper level dormers, and hardwood floors.

A sun room overlooks backyard patio & fenced yard!

Price: $374,900

More pictures and information is available Barker & Hedges property information.

Browse all homes for sale in the Highland Park Neighborhood of St. Paul, Minnesota.

Browse other Saint Paul neighborhoods.

Built in 1948, this beautiful, 2-story, single family home is in a prime area of the Highland Park neighborhood of Saint Paul, Minnesota.

This home has 3 bedrooms on the main level and 3 bathrooms.  The main level features hardwood floors. 

The remodeled kitchen with has granite countertops, stainless steel appliances, and custom cherry cabinets.

The family room has a wood burning fireplace.  The finished lower level has includes a sauna!

A sun room overlooks the private, huge, fenced backyard.

Price: $ 424,900

More pictures and information is available Barker & Hedges property information.
There are virtual tours available for this home, which can be found here.
Browse all homes for sale in the Highland Park Neighborhood of St. Paul, Minnesota.

Browse other Saint Paul neighborhoods.

Over the years we have helped hundreds of buyers into homes and Bryan Stuckey with Inspecta Homes has been our inspector of choice.  He recently did an inspection for a buyer of ours and in the process found one of the foundation walls to be slightly bowed.   As any good inspector would do for their client, he recommended bringing in a foundation expert to take a second look and give an opinion.  This situation is more common than you would think…the problem for our real estate team has been finding a company that can give an opinion at a reasonable cost.  Complete Basement Systems  has done numerous inspections of foundation walls for us and provides FREE estimates.  We typically use Jon Ahern if at all possible.  He is a true professional and gives great advice to our clients.  They also deal with basements with water issues as well so look them up if you are having basement issues!

There is a collective sigh of frustration from sellers as they read about the latest real estate report. But there is a proactive response that homeowners can take to improve their chances in today’s market. Unless a house is categorized as a “fixer-upper” or is reduced in price for its “as-is” condition, sellers need to take advantage of the tools that are available to them and put them into practice.

In the world of real estate, the seller has control over two things:

1. The price of the house
2. The condition (appearance) of the home

PRICING YOUR HOUSE: Listen to your Realtor. They are the experts when it comes to the worth of your house. The average price of a home has fallen in the last couple of years, and what your house was worth in 2005 may be lower than what it is today. Barker & Hedges competitively price their listings to receive maximum interest from buyers.

STAGING YOUR HOME: Make the investment in both time and money to prepare your house before it is listed. Finish the uncompleted projects, update any necessary light fixtures, freshen up the walls with a new coat of paint, and start packing your unneeded home furnishings. The more effort you put into preparing your house, the greater your chances of receiving reasonable offers. If you don’t know where to start, KFM Staging & Design can point you in the right direction.

If you were a buyer, which room would you choose?

The “wait-and-see” approach to selling a house no longer applies in today’s market. If homeowners are serious about moving, they must price their house correctly make every effort to present their home in the best possible way.

KFM Staging & Design is a Minnesota home staging company that has been creating “First Impressions That Sell” for homeowners and Realtors across the Twin Cities and western Wisconsin. KFM specializes in home staging consultations and vacant stagings. For more information on home staging visit our website: www.kfmstaging.com.

When preparing your house for the real estate market, painting is an inexpensive way to make a huge improvement in your home. However, you must choose your colors wisely, because the color of a home’s interior sets the atmosphere of a house.

Whether you are preparing your house for sale or just wanting a new look for your home, adding the right color could dramatically change they way your feel about your surroundings. Colors, like music, invoke an emotional reaction in people. Typically these reactions are:

• Reds (warm) –> passion and excitement. Reds are an excellent choice that adds elegance and sophistication to any room in your house.
• Blues (cool) –> calm and peace. Using blues in your room will promote feelings of nature (sky and water) which sets a relaxing tone.
• Yellow (warm) –> joy and light (sun). Yellows add a cheerful atmosphere into the room and is typically found in kitchens.
• Green (cool) –> restful and nature. Greens combine the calming effect of blue with the joyfulness of yellow; the result is a fresh feeling of natural elements.
• Orange (warm) –> cozy and abundance. Using orange colors instill feelings of pleasant, autumnal warmth that should not be reserved soley for fall.
• Purple (cool) –> wisdom and creativity. Traditionally a royal color, purples add a formal color palate with a creative edge.
• Neutrals –> Neutral colors include all shades of whites, creams, browns, and blacks. When staging your house, select soft, light colored neutrals for your walls and bring color elements into your room through your home furnishings.

Before you choose a color for your walls or home accents, consider the “feeling” that you want your room to display. A beautiful room is just a few paint strokes away!

KFM Staging & Design is a Minnesota home staging company that has been creating “First Impressions That Sell” for homeowners and Realtors across the Twin Cities and western Wisconsin. KFM specializes in home staging consultations and vacant stagings. For more information on home staging visit our website: www.kfmstaging.com.

Two years of turbulence in the real estate market and recent actions by the Federal Housing Authority has created a nearly ideal climate for house hunters in search of a bargain or their first home.

Twin Cities home prices posted a decline of 12.5 percent in February — the steepest drop since the area’s prices first started falling in late 2006. The metro’s median sale price is now $195,060, the lowest it has been since May 2003.

Also, according to Minneapolis Area Association of REALTORS®, the number of homes for sale in the Twin Cities area continues to post record levels. At the end of February, there were about 8.72 homes to each expected buyer for the month of March.

With banks, Realtors, and home sellers facing this challenging environment, concessions are being made and prices are being lowered.

There is more! With the troubles that the subprime mortgage industry has been experiencing, available credit has been tightening, even as interest rates are falling. The Federal Housing Administration’s temporary changes to the limits on the loans it guarantees has re-opened doors for home buyers which had been closing. The availability of secure financing is expected to have a positive effect on the real estate market.

This is almost as good as it gets for a buyer’s market. In fact, this is the best buyer’s market that the Twin Cities area has seen in about ten years. And prospective home buyers are beginning to take notice. Those who know where to look are making some serious deals.

But what if you already have a home and the idea of being a landlord isn’t exactly your cup of tea? Well, if you have ever wanted a bigger house, now is a good time to look. You’ll likely get a modest price for your current home, but a larger home could be within your price range now than when you were house hunting. Also, if a vacation property on one of Minnesota’s 10,000 lakes has ever appealed to you, now could be the time to get that lakeside cabin. A third option would be to help your children make the leap from being renters to home owners.

It is expected that prices will drift a bit before they begin to rebound. Purchasing a home this year can ensure you catch the wave early. Kick your search for a home into high gear today! You may just find what you’re looking for at a more-than reasonable price!

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