We are pleased to announce we are now offering property management and rentals! We have a licensed Realtor on staff who is experienced and active in this area and happy to help! If you have a property that is vacant and you want help finding a tenant, we can help! If you have a property you would like help with managing day to day operations, repairs, collect payments, etc., we can help with that too! We have had a lot of questions and requests for these services over the years and we are happy we are now able to provide this service in our community! Feel free to give us a call anytime with questions or stop by to hear about what options are available. The best time to reach our property manager in person is Tuesday and Thursday mornings. Or call, anytime, 218-263-4411 Johnson Hometown Realty!
Phoenix, Arizona – Joe Jump and Jill Barrett with Johnson Hometown Realty were both recently recognized by Broker★Agent Advisor with the highest honor as 7 Star Agents.
“Joe Jump and Jill Barrett have met or exceeded criteria established by Broker Agent Advisor relevant to experience, reputation, and achievement and having demonstrated every quality characteristic of a superior real estate professional are hereby recognized and honored for exemplary service to their community and as a credit to the real estate profession,” said Chad Golloday of Broker Agent Advisors.
Joe Jump is receiving his 2nd recognition at this level and recently earned his Broker’s license in real estate.
Jill Barrett is a 3-time 7 Star Award recipient and also holds the highly regarded GRI (Graduate Realtor Institute) recognition in real estate.
“We are truly honored to work with these two agents who excel not only in how much business they each do, but more importantly in the quality and care they provide for each of their clients. They truly are top notch experienced agents that are very knowledgeable, dependable and professional. Congratulations to Joe Jump and Jill Barrett and thank you for being a part of our team at Johnson Hometown Realty and for providing such great service to our community,” said Marcy Johnson, from Johnson Hometown Realty.
Joe Jump and Jill Barrett are Minnesota licensed Realtors with Johnson Hometown Realty in Hibbing, serving the Iron Range area and beyond.
Joe can be reached at 218-929-0198 or firstname.lastname@example.org
Jill can be reached at 218-969-5780 or email@example.com
Joe & Jill can also both be found on Facebook!
Home financing translated into English that a normal person can understand….Part Seven
In the past we have looked at FHA, DVA, USDA, Conventional, and 203K Renovation loans as well as the mortgage assistance programs offered by AEOA and KOOTASCA. These are all bank or mortgage company lending programs and one of them will work well for most buyers. However, there is another option – owner financing – usually accomplished through the well-known and capable contract for deed.
A contract for deed, or C.D., is a financing tool that can allow buyers who don’t qualify for traditional lending options to purchase property. However, both buyers and sellers incur risk with this method of transferring real property and both buyers and sellers should seek legal advice before entering into a purchase agreement using contract for deed financing. Under a C.D., the buyer makes regular payments to the seller until the amount owed is paid in full or until the buyer finds another means to pay off the balance. The seller continues to hold legal title to the property until the debt is paid off. If the buyer defaults on the payments, the seller can repossess the property.
Many buyers view a C.D. as an easy way to buy property, and it can be a valid vehicle for purchase, but there is more to a C.D. than many people realize. Before getting excited about a contract, a buyer needs to ask and answer at least 5 questions:
- How much are you offering for the property?
- How much of a down payment are you willing to make?
- How much will your monthly payments be?
- What interest rate are you willing to offer on the unpaid balance?
- How long will the contract run?
The main advantages of a contract for deed include:
*No bank scrutiny
*Bad credit is not necessarily a problem
*An appraisal may not be necessary
*Quicker closing date is often possible
The main disadvantages of a contract for deed include:
*There is a risk of title issues if any clouds exist or develop during the contract
*Generally down payments are higher with a CD than with traditional financing
*Generally interest rates are higher with a CD than with traditional financing
*The length of a contract is negotiable, but typically shorter is preferred over a longer period. The national average is 5 years
*At the end of the contract period, the balance is due in full. If the buyer cannot pay the “Balloon” payment when it comes due, he risks losing the property and all money invested.
* Many sellers do not want to wait for their money so they reject a C.D.; Also sellers that have a mortgage on their property probably cannot accept a C.D. even if they would like to.
Throughout this blog series we have been telling buyers to make sure they are working with a good, knowledgeable lender. With a contract, no lender is involved, so in this case buyers need a Realtor with knowledge and experience dealing with a contract for deed. Both buyer and seller need to get legal advice before signing a purchase agreement that includes a C.D. And both buyer and seller should work with a good title company and/or attorney to draft the C.D. after an agreement has been reached.
Check our website at www.johnsonhometownrealty.com to see any of our previous financing blogs, and stop in to visit us at 2402 First Avenue, Hibbing or call us at 218-263-4411 anytime with questions! A big thank you to Vicki Carlson and Keri Clark of Sellman Title Company for their input on this topic!
The Arrowhead Economic Development Authority (AEOA) has home ownership classes available soon! Classes include one-on-one counseling as well as down payment and closing cost assistance to those who qualify! These classes are great information and provide helpful resources especially for first time home buyers! Check out their website for more information or give one us a call at Johnson Hometown Realty to help you on the path to home ownership!
Johnson Hometown Realty 218-263-4411
How to Find Us!
2402 1st Ave., Hibbing MN 218-263-4411
Find us also on Facebook –
Multiple lots/double lots are for sale in Hibbing’s Mesabi Pines addition. Prices range is from $19,900 to $39,900. Lots are all approximately 1/3 of an acre. Use your own builder and design your future single family residential dream home! There is a Home Owner’s Association for plowing/snow removal to your front steps (includes driveways) and lawn care! These lots give you an edge of town feel with no through streets. City amenities such as water, sewer, natural gas and high speed internet are on site. The location is near the Mesaba County Club – walk or ride your golf cart to the 1st tee! Call Johnson Hometown Realty today for more details! 218-263-4411.
Have you seen the new COVID 19 family fun activity going viral? Go for a walk, bike ride or drive around town and look for stuffed teddy bears in people’s windows! If you find one, shoot it with your camera and post the photo in the comments below on our Facebook page, Johnson Hometown Realty! If you can, add what town you found the teddy bear in.
Contest Mon. Mar. 30 – Sun. Apr. 5, 2020!
All photos will be entered into a drawing for a $10 Caribou Card (you can drive through!). Play along and don’t forget to put a teddy bear in your window if you have one!! (Actually, you need a teddy bear and a window! 🤔
Good luck teddy bear hunting! Contest open to all ages, everywhere. Start looking in your neighborhood! And remember to practice social distancing when you are out and about! (That’s always a good idea when you are bear hunting!)
#teddybearhunt #anycity #anywhere #contest #allages #randomdrawing #familyfunactivity #johnsonhometownrealty
We are ALWAYS OPEN!
We are thankful we can continue to work and to meet the needs of our clients. We have quite a few houses pending and closing in the next couple months. And, we know many more of you need to buy or sell real estate, even during this “Stay at Home” order.
Let us know how we can help! We are available and have many options utilizing current technology that allows us to do 90+% of what you need online or virtually. We can still show many listings in person and can do a Market Analysis for you on a property you are thinking about selling.
Feel free to reach out to us whatever way works best for you – phone call, text, Facebook message, email, etc. We are happy to discuss options, provide information, answer questions and show you property. We have photos, videos, virtual tours and Facetime/WhatsApp to help show houses virtually if needed!
Call the office any time at 218-263-4411
Find us on Facebook: Johnson Hometown Realty
Check out our website: www.JohnsonHometownRealty.com (contact button on the bottom of the home page.)
Or reach out to one of our agent’s directly.
We are looking forward to hearing from you and helping you with your real estate needs!
#takingcareofbusiness #essentialindustry #mnrealtors
Stop by to tour this beautiful custom built, log sided home! Tour the home, the grounds, the garages, the beach and watch for the bald eagles soaring overhead! Snacks included!
Tuesday, July 9th, 4-6 PM!