There is a new website for all you urbanites looking to move into either Minneapolis or St Paul.  LIVEMSP.ORG is your one stop shop for buying in the city.  It has wonderful information regarding the home buying process along with detailed neighborhood information.  This is an informative website for the relocating buyer or for the novice twin citian.  You can also follow them on Twitter.  I thought I’d make a list of my favorite places in Minneapolis and St Paul.  I enjoy both cities equally and think they each have unique qualities and do not have a favorite! 

Minneapolis-

Lake Harriet/Lake Calhoun- between the two I think Lake Calhoun is better people watching.

Isles Bun and Coffee Shop- 1424 West 28th Street, my mouth is watering just thinking of the Puppy Dog Tails.  On a nice day don’t be put off by the line out the door, it is well worth the wait. 

Nokomis Beach Coffee- 4956 28TH Ave S, not just coffee, but ice cream, wonderful pastries and waffles.

Fat Lorenzos- 5600 Cedar Ave S- my husbands favorite, your neighborhood pizza joint.

Town Talk Diner- 2707 E Lake St- they serve Pabst Blue Ribbon in the can and have cheese curds, do I need to say more? 

Midtown Global Market- Lake St and 10th Ave S- shopping and food, something for everyone.

Bar Abeline- 1300 Lagoon Ave S- Wonderful mojitos and table side guacamole

St Paul-

St Paul Farmers Market- 290 E 5th St- locally grown, they also have meat, eggs and cheese.

The Nook- 429 Hamline Ave S- juicy nookie burger, be careful of the hot cheese that may squirt out.

J & S Bean Factory- 1518 Randolph Ave- good freshly roasted coffee with a great atmosphere, many blog posts done here

Alexander Ramsey House- 265 S Exchange St- first governor home, be a tourist in your own backyard

Mad Hatter Coffee Cafe and Tea Shop- 945 W 7th St- truly local, tell Fran I sent ya!

MN State Fair- 12 best days of summer- August 27- September 7th, mark your calendars. 

Skinners Pub and Eatery- 919 Randolph Ave- best Reuben pizza, if it isn’t on the menu just ask.

Both a Minneapolis and St Paul favorite by many-The Minnesota Twins!

These words have been in the media, more than Britney Spears and her "big comeback".  These buzz words are getting a lot of attention due to the recent mortgage crisis.  When I sit down with buyers for the first time I go into both with great detail.  These lender mediated transactions were more that 53% of all pending sales in November.  Minneapolis Area Association of Realtors also reports that traditional sellers average sale price is $225,420 compared to the lender mediated sales price of $130,882.  Here is what to expect when you buy a short sale or a foreclosure. 

1.  Short Sale- This is when the bank/banks agree to take less than what is owed.  The short sale process usually begins once an offer is given to a seller.  It can take 30-90 days to hear back from the bank and 120-180 days to close.  This can be an extremely long process so if you have a dead line to be into a home this may not be the property for you. 

2.  Foreclosure- The bank is now the proud owner of the property.  They ask one or two Realtors to do a BPO (broker price opinion) on the property.  This is how the bank determines what a home could possibly get in today’s market.  They use this figure to set the list price and use it as a guide once an offer comes in.  These type of homes are buyer beware as they are sold as-is and I encourage every buyer to get a home inspection.  These homes can close in 30 days but delays are common and almost expected.

Both of these can reap huge monetary rewards for the buyer.  You can get many way below market rate and with a little TLC these houses can be a home.  You sometimes walk in with instant equity!  I will soon have 2008 statistics, so check back soon.