Pete Aplikowski is now a Certified Distressed Property Expert

October 24th, 2008 Pete Aplikowski Posted in Community News, Foreclosure, Home Buyers, Home Sellers No Comments »

Pete Aplikowski, Associate Broker with RE/MAX Results and team leader of "The Aplikowski Team"  has completed the rigorous training program and has received the designation of "Certified Distressed Property Expert" (CDPE) To help families avoid foreclosure.  Pete attended this tarining at an event in Orlando, Florida, where he learned first hand from experineced agents and trainers who have helped hundreds of families avoid foreclosure.  Florida is one of the markets that is "ground zero" in the foreclosure wave sweeping the country.

The training is a 21+ hour course designed to help Realtors counsel homeowners, and help families avoid foreclosure. The developers of the CDPE program had this to say about this designation:

The Developers of the Certified Distressed Property Expert Designation (CDPE) believe that in almost all cases the best person for a homeowner in distress to speak with is a well informed Licensed Realtor® that has the tools needed to help that homeowner find the best solution for their situation.

Foreclosure is a devastating financial and emotional process for a homeowner to go through, and in many cases they do so alone and without help of any kind.

An Agent who has earned the CDPE Designation has dedicated their time and effort to understanding the issues distressed homeowners are dealing with. The CDPE Professional is an agent who understands the full range of solutions and is ready to help.

While experiencing financial distress is difficult for any family, the process of finding a real estate professional shouldn’t be, Selecting a CDPE agent ensures you are dealing with a professional ready to address your needs.

Pete Aplikowski can be reached at 651-633-4525, or via email at pete@soldbypete.com.

 

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10 reasons why a Short Sale is better than a Foreclosure

October 24th, 2008 Pete Aplikowski Posted in Community News, Foreclosure, Home Buyers, Home Sellers No Comments »

Many homeowners facing foreclosure feel they have no option because they owe more on their home than it would bring in the current marketplace. A Short Sale involves selling the home at market value, and negotiating with the lender to accept less than the full payoff of the loan. 
 
The top 10 reasons why negotiating a short sale with your lender is better than letting it go to foreclosure are. 
 
1)      After foreclosure, a person will always have to disclose the foreclosure on any new application for credit or employment you submit in the future. This is the only credit item that is asked about specifically and does not rely on just what is on someone’s credit report.
2)      A person’s credit score will be lowered 300-350 points. A Foreclosure is the most devastating credit issue a person can have in relation to future credit availability. A mortgage satisfied by a short sale is usually reported as “paid as agreed” to the credit bureaus, and only any missed or late payments will show on your credit report. A short sale may impact your credit score as little as 50 points.
3)      A foreclosure is the one credit report item that is almost impossible to have “repaired”, and will show up for 10 years or more on a person’s credit history.
4)      Many employers run credit checks on new hires, and a foreclosure can even put your current job in Jeopardy, as some employers run periodic credit checks on their employees. A foreclosure in many cases is grounds for immediate reassignment or termination.
5)      A person with a security clearance as part of their employment with the military, law enforcement, or government work can have that clearance jeopardized by a foreclosure. A foreclosure is the most challenging issue against a security clearance outside of a gross misdemeanor or felony.
6)      A homeowner who loses a home to foreclosure will be ineligible for a Fannie Mae backed mortgage for a period of 5 years minimum. A homeowner who successfully negotiates a short sale will be eligible in as little as 2 years.
7)      On the standard 1003 form for mortgage application, a borrower with a foreclosure will have to answer “yes” to question C that asks “have you ever had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?” There is no similar question regarding a short sale.
8)       Most people panic when served with foreclosure papers. 7 out of 10 distressed homeowners never ask for professional help. Minnesota law allows for a 6 month redemption period after foreclosure notification to find a workable solution like a short sale with the lender. There may be even more time than that in certain cases.
9)      We are certified Distressed Property Experts. We are here to help people make informed decisions about their options during foreclosure. Help is only a phone call away.
10) The approach of denial and burying one’s head in the sand is the wrong approach in foreclosure. A person will feel much better if they know that they took logical steps to avoid the end results of a foreclosure.
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Twin Cities Market Inventory Update-Bank involved properties

August 13th, 2008 Pete Aplikowski Posted in Community News, Foreclosure, Home Buyers, Home Sellers No Comments »

Some Notable trends from the latest housing statistics

  • Over the past year, the inventory of lender-mediated properties for sale has almost doubled, while traditional inventory has declined by 16 percent.
  • Of all current active properties for sale, 21.7 percent are foreclosures or short sales.
  • Traditional homes continue to hold their value better than foreclosures and short sales. The Q2 median sales price of foreclosures and short sales has fallen by 11.7 percent in the last two years while traditional homes has declined by only 3.4 percent.
  • The prevalence of lender-mediated homes varies greatly from area to area.

Call us for detailed reports about your specific area of interest!

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New Carbon Monoxide Detector Law effective Aug 1st- MN Stat.299F.51

August 12th, 2008 Pete Aplikowski Posted in Community News, Home Buyers, Home Sellers, Inspections No Comments »

 

All Single Family Homes in Minnesota are now required to have an approved CO detector within 10 feet of each Bedroom or Sleeping area.  (Went into effect Aug 1st)

see Statute below:

——————————————————————-

299F.51 REQUIREMENTS FOR CARBON MONOXIDE ALARMS.
    Subdivision 1. Generally. Every single family dwelling and every dwelling unit in a
multifamily dwelling must have an approved and operational carbon monoxide alarm installed
within ten feet of each room lawfully used for sleeping purposes.
    Subd. 2. Owner’s duties. The owner of a multifamily dwelling unit which is required to be
equipped with one or more approved carbon monoxide alarms must:
(1) provide and install one approved and operational carbon monoxide alarm within ten feet
of each room lawfully used for sleeping; and
(2) replace any required carbon monoxide alarm that has been stolen, removed, found
missing, or rendered inoperable during a prior occupancy of the dwelling unit and which has
not been replaced by the prior occupant prior to the commencement of a new occupancy of
a dwelling unit.
    Subd. 3. Occupant’s duties. The occupant of each dwelling unit in a multifamily dwelling
in which an approved and operational carbon monoxide alarm has been provided and installed
by the owner must:
(1) keep and maintain the device in good repair; and
(2) replace any device that is stolen, removed, missing, or rendered inoperable during the
occupancy of the dwelling unit.
    Subd. 4. Battery removal prohibited. No person shall remove batteries from, or in any way
render inoperable, a required carbon monoxide alarm.
    Subd. 5. Exceptions; certain multifamily dwellings and state-operated facilities. (a) In
lieu of requirements of subdivision 1, multifamily dwellings may have approved and operational
carbon monoxide alarms installed between 15 and 25 feet of carbon monoxide-producing central
fixtures and equipment, provided there is a centralized alarm system or other mechanism for
responsible parties to hear the alarm at all times.
(b) An owner of a multifamily dwelling that contains minimal or no sources of carbon
monoxide may be exempted from the requirements of subdivision 1, provided that such owner
certifies to the commissioner of public safety that such multifamily dwelling poses no foreseeable
carbon monoxide risk to the health and safety of the dwelling units.
(c) The requirements of this section do not apply to facilities owned or operated by the
state of Minnesota.
History: 2006 c 260 art 3 s 21
NOTE: This section, as added by Laws 2006, chapter 260, article 3, section 21, is effective
January 1, 2007, for all newly constructed single family and multifamily dwelling units for which
building permits were issued on or after January 1, 2007; August 1, 2008, for all existing single
family dwelling units; and August 1, 2009, for all multifamily dwelling units. Laws 2006, chapter
260, article 3, section 21, the effective date.

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Shoreview Reflections-50 Year History Book of Shoreview, MN

November 9th, 2007 admin Posted in Community News, Uncategorized No Comments »

The Shoreview Historical Society has published a book, title "Shoreview Reflections" to coincide with the 50 year anniversary of Shoreview being incorporated

Book signing November 16th….click here for info

excerpt from the introduction to this book, by author John Koblas

While the City of Shoreview turns fifty years old, its history and its peoples go far back to before the coming of the first European.  And during the last half century, so many of us have witnessed Shoreview evolve from a rural, "out in the country" woodland sprinkled with dairy farms and the pioneer spirit to a popular modern residential area known for its lakes and parks and natural beauty.  All of those that have come before us have left their footprints, and while we cannot go back from where we have come, we can go into the future preserving our heritage, casting our own reflections for the many generations that will follow.  By understanding our past and the many changes which have affected our lives, we should find that there is one thing time can never change:  overhearing someone say with a  smile, "Yes, I am proud to live in Shoreview."  For reflections do come from the heart.

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