Sunnyside Gardens Offers Labor Day Savings

Free 6″ potted mum with the purchase of a 12″ potted patio mum.
Now through Labor Day.

Mum plants are available in a variety of colors, are easy to care for and survive cooler temps well. They’re perfect for increasing the curb appeal of your home at this time of year. Not selling? Enjoy their welcoming cheer at your front door as our days grow shorter.

Sunnyside Gardens
3723 West 44th St
Minneapolis MN 55410

Sunnyside Gardens Website

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Rethinking Homeownership: A Long-Term View

This post is courtesy of one of the lenders I utilize, Kate Wilson, of Fairway Independent Mortgage. She and her team work with all buyers and are especially knowledgeable about first-time buyer programs.
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Guest Author: Kate Wilson of Fairway Independent Mortgage

We have a magazine rack for our clients in our lobby. I was really hesitant to put out the September 6th edition of Time Magazine because the front cover read: Rethinking Homeownership: Why Owning a Home May no Longer Make Economic Sense.
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I can think of a lot of things that don’t make much economic sense but I sure wouldn’t put buying a house in that category. I have some pretty strong convictions about why homeownership is important and a lot of them start with common sense. I take the long-term view:
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There are tax advantages to homeownership that you don’t get when you rent. Once you have a fixed rate mortgage, the principal and interest payment will not change over time. Your rent will and you have no control over just how much those rent increases might be. Both the interest and the property taxes are deductible but only your landlord gets to deduct them when you rent.
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At the end of the day, a house is a forced savings account. If you pay all of the payments, at the end of the loan term, you own the asset. You can save yourself a lot of interest and get there faster by making one extra Principal and Interest Payment a year. It’ll take about 7 years off of a 30 year loan. If you pay rent for 30 years, your landlord will own the asset and use it to pay for his Long Term Care, not yours.
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Your mortgage should not outlive your retirement age even if you’re buying up. Mortgages come in terms of 10, 15, 20, 25, and 30 years. Consider this: If you’re buying up, keep your mortgage in sync with your overall financial plan and objectives. If you’re considering a move, take the age you want to retire and subtract from it your current age and see how much you’ll qualify for using that amortization period. There’s no prepayment penalty for first mortgages these days so even if you take out a 30-year mortgage to protect against a ‘what if’ scenario, figure out how much extra principal it takes to repay it according to your retirement timeline and just do it.
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Home equity lines of credit for vacations or the purchase of cars are a bad idea. You’ll be paying for that vacation long after the memories have faded. The car started to depreciate the minute you drove it off the lot and you’ll be paying for the old one even after it’s eligible for vintage plates.  In the meantime, you will probably have to buy another car and pay for it while you’re still paying for the trade in.
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The most common sense reason I can think of for homeownership has nothing to do with it making economic sense. When you own your home, you are free to make it fit your lifestyle and a reflection of who you are. Landlords call such changes ‘damages’ and keep your deposit or kick you out. If the landlord decides to sell and you have to move, you can lose years of accumulated emotional net worth.

Other than graduating from college, having my kids, and marrying my sweetheart, I can’t think of a better decision I’ve made in my life than becoming a home owner. Your thoughts?

Kate Wilson

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I agree with what Kate has written here which is why I asked her if she was agreeable to my posting her thoughts here. We’d both be interested to know your thoughts. Share them by adding a comment below. (The typeface color for Leave a Comment is green so it doesn’t stand out immediately but it’s at the end of the list of tag words at the bottom of this entry.)

Learn more about Kate Wilson and her team here: www.katewilson.com

Kate Walsh
REALTOR®
Lakes Area Realty
612.220.3309
info@designhouse9.com
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Recycle Old Thermostats and Get a Gift Card

Conserve Energy and Reduce Heating and Cooling Costs

Save money and energy by using a programmable thermostat instead of a traditional thermostat. Estimates are that homeowners can save about $180 a year with a programmable thermostat. Traditional thermostats contain mercury and therefore must be recycled rather than placed in the trash. Covanta Energy is offering a $5 Menards gift card as a thank you gift for recycling your traditional thermostat and as a way to help reduce the cost of the programmable thermostat.

This offer is available through December 31, 2010 or while supplies last. There is a limit of one gift per household. Click on the link below for more details.
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Recycle Old Thermostats, Get a Gift Card Program Information

Learn more about Covanta Energy Corporation

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