Minneapolis Lofts

IMS lofts - Best loft deal in Minneapolis

2010-11-17T11:41:00.003-06:00

When considering buying a Minneapolis loft condo, one may want to look into buying a Minneapolis loft at the IMS Lofts, or International Market Square loft building. I live here and I LOVE it, very classy building with a lot going on next door at the atrium as well right across from the Firm if you love to break a sweat. I'm amazed at the pricing in this building as a loft can be had for next to nothing believe me. Lofts that once sold for 300-400k are now selling for 50% of those initial values. We just received over 80k (paid for by developer) in common area carpeting that rivals any building in the Twin Cities. Now is the time to get serious if you want a loft in Minneapolis, I can help you out ASAP! Call me at 612.877.1676 or email me for IMS listings at ben@cityoflofts.com

Looking for a loft in Minneapolis or St. Paul?

2010-05-18T22:27:00.003-05:00

I have some amazing deals out there right now that I would love to share with you! Please give me a call at 612.877.1676 or email ben@cityoflofts.com. Look forward to working with you!

What to Consider Before Buying a Minneapolis Condo or Loft

2009-12-29T11:57:00.002-06:00

If a Minneapolis condo lifestyle sounds interesting to you, here are a few things to consider about living in this type of residence:

Ownership
When you purchase a Minneapolis condo, you own the space within your condo's walls. The actual walls are co-owned with your neighbor, as well as the common areas like the hallways; building exterior; yard and amenities such as the pool, gym, and walking trails.

Condo Association Fees
Each condo has Association fees that are in addition to the mortgage. These fees are used for maintenance and repairs of the common areas. The Association fees also pay for the landscaping and, usually, trash removal.

Condo Association Rules
Associations also have rules. They have regulations about what you can do with your property, including what kind of pets, if any, are allowed. Most Associations don't allow making changes to the exterior of the property. You can paint the walls inside your condominium, but can't paint the outside.

Neighbors
So you’ve found the condominium that works for you. The next thing to consider is what kind of neighbors you'll have. Disruptive and noisy neighbors can ruin even the perfect condominium. A good thing to do is stop by the condo at different times on different days, so you can get an accurate impression of what living there is really like. Think about looking at the Association’s board meeting minute. They'll list what complaints the other owners have, and by looking at those you can get the big picture of life there.

Don’t let Association fees and close neighbors scare you away from condominium life. While purchasing a Minneapolis condo is not simpler than buying a single-family home, living in one may be.

Thinking of buying a condo? I can help. Call me now at 612.877.1676 or email me at ben@cityoflofts.com.

City of Lofts Website

2009-10-13T12:13:00.003-05:00

Has launced and will be getting new content daily on the loft scene in Minneapolis. Recent additions include photos of Whitney Square lofts, American Trio lofts, Whitney condos, and Bar La Grassa in the north loop district. Enjoy!

730 lofts - best price per sq feet in Mpls!!

2009-08-11T21:59:00.001-05:00

Still a few 1 bd's left that I would buy in this building - Call me to discuss if you are looking at this chic modern building! Ben@cityoflofts.com or 612.877.1676

Foreclosure - 720 lofts - North Loop- Minneapolis, MN

2009-06-16T14:39:00.002-05:00

Awesome RARE 2 bedroom 2 bathroom loft corner unit on floor 5 - 248 k

Let me know ASAP if you would like to view this GREAT DEAL!

Ben@cityoflofts.com or call 612-877-1676

How to Buy Minneapolis Real Estate (lofts and condos) for Investment

2009-05-24T08:33:00.003-05:00

There are several important criteria to consider when buying Minneapolis real estate for investment. Some of the items will vary depending on the reason you are buying and the type of investment you are looking to make.
Long term investments such as rental properties can take longer to pay off but the income is consistent. Short term investments such as buying for quick flips may pay off larger but can be a less regular form of income.
When buying a loft for either long or short term real estate investments, it is very important to know exactly what your costs will be compared to potential income. That should be your primary deciding factor when buying investment properties.

Short Term Minneapolis Real Estate Investments

When you are looking at short term investments like re-sales and flipping, the potential profit needs to be larger to cover both the inconsistent nature of that type of investment and the slightly larger risk. Minneapolis real estate purchased for short term investment also needs to be very appealing to ensure quick turnover. Languishing on the market once you have relisted it eats away at your profits.

Vacant Land as Real Estate Investment

Another type of investment property is vacant land you can subdivide and resell, or develop on your own. If you're considering that type of real estate venture, know that it requires quite a bit of loftwork.
• You will need to check out the zoning laws to be sure your plans are allowable without going through the hassle and possible failure of rezoning.
• You also need to pay close attention to the initial and long term costs associated with developing your vacant land.
• You need to know exactly what is possible such as how many units can be placed on a given parcel to be sure the property can accommodate the number of resale units you require in order to make a profit.

If you would like more information on investing in real estate, please call me at 612.877.1676 or email me at ben@cityoflofts.com.

When a Good Minneapolis Loft Doesn't Sell

2009-05-19T16:14:00.002-05:00

It can happen to even the best Minneapolis loft. It has great curb appeal and the interior shows well. So, why isn't it selling?
Even if your loft is the best loft in the neighborhood, it can still end up languishing on the market as others around it sell. So, what can you do to get your loft sold?

Check Your Price
Being over priced, even by a relatively small amount, is the most common reason lofts don't sell. The wrong price can prevent potential buyers from even looking at your loft. Keep your emotions out of the calculations. Of course, you love your loft and think it's very valuable. But, you need to look at it as an impartial outsider. Examine the facts and figures presented by your real estate agent, and take his or her expert advice. Price isn't the only factor to consider.

Picture It
Lofts marketed with only one or two photos are passed by. The more photos the better, but any old photos won't do. You need quality photos. Consider hiring a professional real estate photographer, or work with a real estate agent who will get professional photographs for you.

Promote It Online
These days almost 80% of all buyers start their loft search online. Make sure your loft is marketed on multiple websites to get the broadest possible exposure. In addition to using multiple photos as mentioned above, a great online marketing tool is a virtual tour. Ask your agent to create a professional virtual tour for your loft.

Market it Everywhere

Advertise your loft in as many ways and as many places as possible. Here are a few ideas:
• Colorful flyers
• Loft magazine ads
• Postcard mailings
• Emails to other agents and potential buyers

If you would like more information on how to get a stagnant loft moving, give me a call today at 612.877.1676 or email me at ben@cityoflofts.com.

Spruce Up Your Minneapolis Loft for a Quick Sale

2009-05-14T16:26:00.006-05:00

If your Minneapolis loft has been sitting on the market for more than three weeks, it's already an "old property." Being an old property hurts sales because buyers looking in that community wonder what is wrong with your loft that's keeping it from selling. Even in today's slower market, that holds true. It's human nature to think something must be wrong with an item that hasn't sold quickly. There are things you can do, however, to spruce up your loft to make it more appealing and help it sell faster.

A second look from potential buyers can be a life-saver to you when selling your Minneapolis loft. If a previous looker was on the fence, just a few little changes might make them reconsider. Ask your real estate agent to share negative comments from walkthroughs. Don't be offended, instead, find a way to overcome that dissatisfaction. If one person felt a room was too dark, too crowded, too cluttered, it is likely others will too.

Paint the inside. If you walls haven't been painted recently, chances are they could use some sprucing up. Your buyers want a loft to sparkle and a new coat of paint is a cheap way to make that happen.

If you would like more ideas on how to make your loft more attractive to buyers, I can help. Contact me now at 612.817.1676 or email me at ben@cityoflofts.com.

Buying a Minneapolis Loft? Protect Yourself Against a Crunch

2009-05-11T17:50:00.004-05:00

Thanks to the current stimulus plan, it's a great time to buy a Minneapolis loft. Buying a loft is an exciting time, but it can be a little scary too. Here are some smart ways to protect yourself from potentially falling prices while you wait for the market to rebound.

• Know how much you can afford to spend ahead of time and then look for lofts in areas that reflect those prices. Choose lofts on the lower end of the average loft values in that area so that even if the housing market slumps a little bit before it recovers your Minneapolis loft is unlikely to sink below its current value.

• Look for lofts that aren't on busy streets or highways.

• Don't buy a loft directly across from a school or park. While that can be great if you have young kids, it won't be attractive to anyone without youngsters and can hurt your resale value.

• Avoid buying a loft next to apartments or retail stores.

• Put down a sizeable down payment and request that the seller pay closing costs or provide other real estate incentives such as new appliances to sweeten your deal. It's a buyer's market which means you hold most of the cards so make sure you get as much value as you can.

• Seek the help of a professional real estate agent who can guide you through the process and help you make wise decisions when looking for a Minneapolis loft and making an offer.

Thinking of buying a loft? Let me help. Call me at 612.877.1676 or email me at ben@cityoflofts.com.

Destination MPLS - Be'Wiched Deli - North Loop

2009-05-06T09:59:00.003-05:00

Buzzing around Washington Avenue in the North Loop District, I felt the need to stop in and pay a visit to one of my favorite sand"wiched" deli's in Minneapolis. Let's face it, these guys get it! Using many locally grown ingredients and organic produce, this shop has what it takes to measure up to any deli in Minneapolis.

My personal favorites include the pulled pork sandwich on an onion roll, the smoked turkey, and the Veggie burger that has beets as it's main ingredient. Don't take my word for it, get on over and check it out. Im lucky enough to be able to live in this neighborhood and have filled out plenty of the 9 punch cards to get a freebie - In fact, Im going right now to cash one in.....can you say smoked ham sandwich with brie and apple mostrada?? I say A-List!!!

Cheers- Ben

For more detailed info, Click here to visit the Be'Wiched Deli website

Destination MPLS - Origami Sushi Bar - North Loop

2009-05-03T13:08:00.014-05:00

While venturing out in the rain isn't to much fun (especially when its 50 degrees), it is worth it when you get to go to Origami for an evening of decadent sushi and fun.
My loftee neighbor Ms Sium and I enjoyed recommendations from Abby that included the miso soup, spider rolls, and an asparagus tempura roll that was very tasty. The service and atmosphere was great as always and the place was packed despite the incumbent weather.
CityofLofts.com is proud to say that the place gets a ringing endorsement. Check it out, enjoy and let me know what ya think

For more detailed info, click here

Cheers. BJJ

How The Stimulus Plan Helps You Buy a Minneapolis Loft

2009-05-03T09:09:00.002-05:00

The new stimulus plan has given many people new hope for their housing futures. At first, many worried that the stimulus package would merely help the banks and other financial institutions and not the actual loft owner looking to buy a Minneapolis loft. But, it has become clear that the people who really win with the new plan are those who count—prospective loft buyers.

Stimulus for Banks and Buyers
The stimulus package provides huge tax rebates in 2009, and while that is a limited provision, the savings are enormous for those who get out there and buy a new Minneapolis loft. The fact that the stimulus plan includes relief for the struggling financial industry also helps buyers by making it more likely they will be able to obtain loans.

Stimulus for Luxury Properties
The stimulus package gives the two major government mortgage companies Fannie Mae and Freddie Mac more power and allows for larger loans for higher priced properties. That is a big incentive if you're looking to buy in a major metropolitan area because you will now be able to get a loan secured by Fannie or Freddie.

The economic boost from the stimulus package will require a little time to really become apparent, but it is working, even now. Slowly the market is rebounding and new loft buyers are able to take advantage of loans and tax incentives while getting condos at prices that are extraordinarily low.

If you would like more information on how the stimulus package can help you buy a new Minneapolis loft, give me a call at 612.877.1676 or email me at ben@cityoflofts.com.

How You Can Get the Best Price When Buying Minneapolis Real Estate

2009-04-28T15:47:00.006-05:00

The Minneapolis real estate market is a loft buyer’s dream right now! Whether you're looking to buy a new loft or to buy investment property, it's the perfect time. Loft prices are down, which means that well-informed buying could benefit you in the long run. There are several tips I can offer you on how to get the best price when you buying a loft:

• Shop around in the neighborhood where you're looking to buy. The only way to know if you're getting a good deal is to look at loft prices in the same neighborhood. Ask your real estate agent for listings that are similar to the Minneapolis loft that you’re looking at. Evaluate the two lofts and their prices to ensure that you’re getting a good price. Your real estate agent can help you with this evaluation.

• Play the negotiator when writing your contract! One way to try to bring down the price of the loft is to offer a lower price on your contract. Offering a slightly lower price than what the loftowner is asking is a place to start trying to save some money. If the loftowner is firm on the listing price, you can look to cut costs in other areas. One way you may be able to lower your cost is by asking the seller to pay your closing costs.

• Check how long the condo has been on the market. If a loft has been on the market for an extended period, the loftowner is
going to be more likely to lower the price. A condo that has not had any offers in a few months gives you, the loftbuyer, an advantage. The loftowner may be willing to lose a few thousand dollars in order to sell the property to you.

Especially now, it’s possible to get a good price in the Minneapolis real estate market. Let me help you negotiate an excellent price for your new loft. Call me today at 612.877.1676 or email me at ben@cityoflofts.com.

Barriers to Selling a Minneapolis Loft

2009-04-25T08:50:00.000-05:00

The biggest barriers to selling your Loft are often those you create yourself by wanting a quick sale or not learning all there is to know about presenting your house to its best advantage.

When you first begin to think about selling your Minneapolis Loft it seems easy. Put a sign on the lawn and list it. Once the shine wears off of the desire to do it all yourself, you might need some tips to help sell your Loft:

Clean It Up
That's the first and foremost advice. Nothing deters a real estate sale faster than a messy house. Living in your Loft while trying to sell it makes it difficult to keep it clean, but if you're serious about wanting to sell your Loft, it's worth the extra effort. You may want to learn how to clean your Loft fast for those times when a buyer calls and wants to see your Loft in 15 minutes or less.

Take Good Pictures
Where do you think people search first for Lofts for sale? Online. Newspapers used to be the first place people looked for Lofts. But now, approximately 80% of all Loft buyers look online before searching anywhere else.
Due to cost and space limitations, newspapers usually display only one photo of the front view of the Loft. On the internet, where space is abundant, buyers expect to see lots of exterior and interior pictures, in fact, the more the better. If you aren't experienced at getting good room photos that show off your Minneapolis Loft to its best advantage, hire a photographer or a real estate agent who can do it for you.

Hold an Open House
Or several. Selling your Loft takes time. If you are busy and can't fit opening your Loft up to viewers into your schedule, you may want to list your Loft with a real estate agent who can do it for you. It's better to leave your Loft in the hands of a professional real estate agent so you aren't tempted to hover over buyers as they walk through. Hanging around discourages buyers from talking to each other about the qualities of your Loft and from taking the time to view and consider the true potential of your Loft.

There are pitfalls you can get tripped up on when selling your Minneapolis Loft. If you'd like to work with a real estate agent who can help you maneuver around those pitfalls, give me a call today at 612.877.1676 or email me at ben@cityoflofts.com.

Buying Your First Minneapolis Condo

2009-04-23T08:38:00.000-05:00

Is this a good time for first time condo buyers to consider a Minneapolis loft or condo? It's a familiar question with the economy in the state it is in. Here are a few reasons why a condo is still a great investment for first time condo buyers.

Pride of Ownership
This will never go away no matter what the economy is like. Owning your own condo is the American dream for a reason. It just feels good to take care of a Minneapolis condo that's yours and yours alone.

Tax Incentives
Owning your own condo is one of the best tax deductions. The new stimulus plan makes that tax incentive better than ever before. Not only can you deduct your interest payments on your tax forms this year and for every year during the life of your mortgage, the stimulus plan allows a huge condo / loft buyer tax credit of $8,000 for condos purchased in 2009 by first time condo buyers.

Your property taxes are deductible too. Many first time condo buyers understand that they can deduct the mortgage payment interest but don't realize they can declare their property tax as well for an even bigger yearly deduction.

Equity
Yes, even now, you will begin to build equity with each year you're in your new condo. Equity improves your credit worthiness and gives you options for loans in the future if you need them.

Take the first step toward buying a new condo and contact me. I'll help you find the perfect place for you and your family. And, I'll help you get it at a great price. Call me now at 612.877.1676 or email me at ben@cityoflofts.com.

You Don't Need Paint to Make Your Minneapolis Condo Green

2009-04-20T15:39:00.000-05:00

The environment is a major news issue and everyone is thinking green. Sometimes it seems difficult to go green in your everyday life, but just a few simple steps can move you down the path to a green Minneapolis condo. You won't even have to break a sweat or crack open a can of paint.

In the Laundry Room

Pick machines for your Minneapolis condo that have an Energy Star rating for peak performance to conserve water and electricity. According to Planet Green, an Energy Star washer saves enough water over the machine's life to provide drinking water for six people for a LIFETIME. It will also save you hundreds of dollars in utility bills over an average 11 year machine lifespan. Use natural drying when possible. Hang clothes on a clothesline in the sun on nice days.
Use green products to wash your clothes. Laundry soaps that contain phosphates are dangerous to the environment. Look for products made from bio-degradable phosphate free materials.

At the Store

Buy your cleaning supplies and cleaning detergents as concentrates so you get more in each bottle. The fewer bottles you buy throughout the year the less ends up in a landfill.
Buy florescent bulbs instead of incandescent and carry your purchases condo in reusable shopping bags.

Eat Green Right from Your Backyard

You can make your Minneapolis condo your very own grocery store. It doesn't take a huge space to grow a garden big enough to feed an average family each year. Maybe the HOA will designate a part of the common area for a community garden! You can harvest fresh vegetables you know are free of pesticides and herbicides that are bad for the environment and your health.
If you'd like more tips on going green, subscribe to my blog. Each week you'll get free tips like this one sent to your email inbox. It only takes a few seconds to subscribe now.

What the $8000 Stimulus Means to Buyers

2009-04-16T08:58:00.000-05:00

Understand and Utilize the New Tax Credits

Many home owners are not aware that the latest government stimulus package gives them a special tax credit of up to $1,500 for making certain home improvements. Also, if you are buying a primary loft or condo and you have not owned a primary residence in the last 3 years, you may qualify for the new $8,000 first-time-homebuyer tax credit. Although you can’t use the credit to help with your down payment, the credit can be claimed on your 2008 tax returns if you buy the home in 2009. This means that even if you buy the home after you file your taxes on April 15, you can simply file an amended 2008 tax return and the IRS will send you a refund check for $8,000. Sounds like the time to buy to me!

Scrounging Up a Down Payment for Your Minneapolis Real Estate

2009-04-15T09:04:00.000-05:00

You've decided to take the plunge and buy a loft for yourself. With the banking industry in the shape it is, unless you have stellar credit, you'll need a more sizeable down payment than ever before. So, how do you get the down payment for the Minneapolis real estate you've always dreamed of?

Get Scrounging
Scour your attic, basement and storage units. Look in every nook and cranny to find items that are in decent shape, but no longer used, and have a garage sale. Sure it's usually pennies on the dollar of what your stuff is worth. But if you're not using it, someone else can, and you get the cash in hand. If you find items that are more valuable, sell them on eBay. Every little bit helps.

Rich Relatives?
Hey, if you have'em use'em. This is no time to feel shy about asking for a gift. Purchasing Minneapolis real estate is a wise investment. Many relatives who might otherwise be unwilling to give cash for frivolous items are happy to help loved ones buy a loft.

Sell Something Big
Having precious jewelry or antiques is a great asset. Consider selling items you've been holding onto as investments, in order to get the loft of your dreams.

There are many ways to come up with the down payment and financing you need to buy Minneapolis real estate. I can help. Give me a call to day at 612.338.3524 or email me at ben@cityoflofts.com.

A Great Minneapolis Real Estate Agent Can Help You Find the Best Lofts for Sale

2009-04-13T21:24:00.000-05:00

Finding a condo may seem like a simple ordeal. There are ads all over the internet, and your local newspaper probably has pages of listings. So why bother working with a Minneapolis real estate agent?

Your real agent isn't going to help you just find lofts for sale; they're going to help you find the perfect condo. So what does a Minneapolis real estate agent know that you don't know, and how can they find the best lofts for sale?

Intimate Knowledge

Finding a Minneapolis real estate agent who specializes in the area where you want to buy is especially helpful because they have intimate knowledge of the lofts for sale. The agent also knows the locale and can give you tips about schools, crime levels, shopping and other necessities.

MLS Searches

While you can view many listings online, your real estate agent will know exactly how to manipulate the MLS to find the most desired features you want in a condo.

Negotiation Skills

One of the most important things a good Minneapolis real estate agent can do for you is negotiating your offer. There is a lot more to finding (and getting) a condo than just looking through listings. Your agent will make sure all of the proper procedures are being followed, condo inspections and title searches are getting done and time schedules are being met.

Legal Know How

Real estate agents go through hours of special training to ensure they know all the real estate laws. Going it alone makes for ample room to slip up and either negate the deal or end up in hot legal water.

Don't take any chances on letting that prized condo get away by missing a legal loophole, or just plain not finding it. If you're looking for a real estate agent who can find your perfect condo and negotiate to get the best price and terms for you, call me today at 612-338-3524 or email me at ben@cityoflofts.com.

607 Washington Lofts - Minneapolis

2009-04-08T18:29:00.000-05:00

Minneapolis Loft Projects: 730 Lofts

2009-04-08T09:38:00.000-05:00

These loft residences that were built in 2008 are one of the newer entrants into loft market in the North Loop district of Minneapolis. The location is key as the Twins stadium is a few blocks down the street and light rail will be available 2 blocks away within the year. Some of key features include:

1. 1, 2, 3 bedroom lofts most with balconies/patios
2. Floor to ceiling glass in most lofts
3. Concrete floors (polished)
4. Exposed ductwork
5. Stainless Steel appliance package
6. Underground heated parking
7. Fitness center on top floor with views
8. Top floor party room with observation desk
9. Management office in-house
10. Caretakers on site

Picture of Chicago Loft rental / April 1st available!

2009-03-27T18:14:00.000-05:00

Hope you enjoy these from CityofLofts flickr page!

710, 720, 730 loft pictures

2009-03-26T11:45:00.000-05:00

Taken upon completion of the 730 lofts. I live here and love it!

What Are The Advantages Of A Buying A Smaller Minneapolis Loft?

2009-03-24T10:15:00.000-05:00

Should you always buy the biggest Minneapolis loft that you can afford? A bigger loft can give you room to entertain and a place for guests to stay. On the other hand, a larger house will likely have higher property taxes and maintenance costs.
There are other advantages to buying a smaller loft. Here are just a few:

Lower sale price. A smaller loft may have a lower sale price, reducing the amount of the down payment you have to make. The closing costs you have to pay on a smaller mortgage may also be less. You may even be able to pay for your new loft completely out of the proceeds of the sale of your larger previous loft.

More money in your pocket at the end of each month. A smaller loft can save you a lot of money by reducing utility bills each month, and you'll save money on your loftowner's insurance.

Lower maintenance costs. Smaller lofts usually require you to spend less on maintenance and repairs. Less square footage can mean fewer places for something to go wrong.

Keep your free time free. If you buy a smaller Minneapolis loft, you could save more than just money, you’ll cut the amount of time that you will spend cleaning and maintaining the loft. It’s possible that you’ll enjoy your free time more too, having fewer household chores taking up your time, and more money available to spend on recreation.

You won’t have any room for extended houseguests. This may be good news or bad news, depending on your personality. If you like a house full of guests, then you’re likely to have already decided on the larger loft. For the rest of you, it may be a relief not to have the free space to have houseguests.

You may find that the benefits of buying a smaller Minneapolis loft outweigh the implied prestige of owning a larger loft. No matter what size loft you prefer, I can help you choose the best loft to fit your lifestyle. Call me at 612-338-3524 or email me at ben@cityoflofts.com.