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kirby fine homes

What to do Before Buying a Luxury Home in the Twin Cities? Part 2

Luxury home Kenwood Parkway MinneapolisLooking to buy a luxury home in Minneapolis, St. Paul, Lake Minnetonka, or the Twin Cities metro area?  Here are more ideas on what to do before your next home purchase:

  • Look beyond your Target Price – You might be looking for a home in the $5 million range, but if you are looking in an area other than where you currently live, you need to find an experienced luxury agent to help you understand market value. Find out what $1 Million, 3 Million, or even $10 million will get you.
  • Don’t Get Sticker Shock – Prime locations command prime dollars. Expect to pay higher than normal prices for waterfront properties, mountain views, and prestigious areas.
  • Communication is Key – real estate agents cannot read your mind, no matter how good they are. It is extremely important to be honest about your goals and your finances in order to have a great experience. Most luxury agents understand the need for confidentiality and will be more than happy to work with you.
  • Put Trust in Your Agent – Realtors are professionals, so trust that your agent understands what you want (again, communicate) and you’ll be viewing homes that meet your needs. If at anytime you feel uncomfortable, do not feel guilty for seeking out a new agent.
  • Don’t be Confidential about your Assets – Be prepared to show your ability to purchase, no matter who you are. You might be well known where you live, but your new city banker won’t. Have your bankers talk to each other to verify there are funds available to close and to also source the origination of those funds. The seller might also ask for a letter of verification from your lender for their peace of mind.
  • Don’t forget Future Resale Value – It might not be your top priority, but someday you will probably want to sell the home you are purchasing. Check the appreciation rate for the neighborhood and take it into consideration when buying.
  • Think about your Offer – Price is usually the first item a seller looks at when an offer is written on their home, but an offer can also consist of contingencies about inspections, finances, closing dates etc. Remember to make your offer based on of all terms and the condition of the home. If need be, have your Realtor write up an explanation of your offer terms to include with the contract. Sometimes explaining your situation or reason to the seller will give you a “human factor” and most times get your offer accepted.
  • Don’t get Emotional about the Seller’s Personal Property – if there is something you like in their home and would like to ask for it, do not write it in the contract. Instead, draw up a separate agreement and ask nicely for the item(s). If they say no, let it go. Too many deals fall through because of household appliances or a chandelier. If they promise something is in included, get it in writing!
  • Get to know the Paper Work – Ask your agent for copies of all documents and disclosures and review them before you make an offer. Mark any areas where you have questions. Every state is different regarding the types of disclosures you need, and what you are use to in one state, most likely will differ in another. For example, in Florida, there is a “Termite” Disclosure which also covers mold, wood rot, and powder post beetles, but if you want to buy in Minnesota, they have no such disclosure.

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Spectacular Winter Tree Display Could Be the Last

Driving north on Cedar a month ago I looked up at the property overlooking the river valley and noticed a huge For Sale sign in the back yard. My heart sank a little, wondering if this year would be the last year to witness the beautiful oak tree that sits in the front yard being lit up for all to see. It really is stunning to be driving up or down Cedar at night and see the huge tree shining like a beacon. Hopefully the new owners will love the tree as much as the current ones and keep the tradition alive. AND hopefully, a developer does not buy the property and tear it all down.

In an interview with WCCO, the owners said:

“The potential buyer will also inherit 39,000 Christmas lights wrapped around one tree, but the promise to keep it lit can’t be included in a purchase agreement.

Hopefully, I can talk them into it, even if I have to come and be their assistant or apprentice for the first year or so to get the lights going,” Bob said. “I hope they do it.”

So while the fate of the tree hasn’t come to light, for this year, at the very least, the oak will still illuminate the holiday season.

“I really believe in their heart that part of their decision for buying it would be what we’ve done all these years” .

Here’s a story from 2009 about the tree and the people who come to visit it.

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Networking with Nation Wide Luxury Agents

Traveling to Denver to attend a luxury real estate conference is a highlight of my year. It’s a good way to market my listings to agents from across the country and meet people to send clients to when they move out of the Twin Cities.

Leaders in Luxury is an invite only event for the top luxury real estate agents in the nation, and I had the privilege of being invited again this year.

Leaders in Luxury Real Estate

The chandelier shown above is located in the Ritz Carlton – Denver and was created by glass artist Dale Chihuly. It is an amazing work of art!

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Be Honest with Your Agent When Selling Your Home

Monarch Butterfly on Joe Pye weed

When it comes to selling your home,  honesty is always the best policy, especially when speaking with your agent.

Each time I meet with home owners to discuss their property, I let them know up front that I offer complete honesty, adding that I don’t “sugar coat things”. I’m blatantly honest to the point that I have had a few home owners get mad at me for “insulting” their home. (Some home owners don’t want to face the facts that the home needs a MAJOR cleaning.)

Of course I asked them if they would rather have an agent lie to them to get a listing, or have an agent tell them what they most likely don’t want to hear and help them get the home sold.  I have yet to have someone tell me to lie.

But the main point of this story is that after I state my commitment of honesty to them,  I notify them that I expect the same level of honesty from them in return.  Remember, anything you tell your agent is confidential. So don’t be afraid to tell them a divorce is on the way, or that you just received a notice of foreclosure.

What ever you do, DON’T hide facts that can affect the listing.

I once had a home listed that I was heavily marketing, and putting a ton of time and money into getting it sold.. It wasn’t fun getting a call one day from a buyer’s agent asking how long my clients had been in foreclosure. This was news to me. I had specifically asked the sellers if they were in foreclosure and had been told no. I had also looked into public records, and there was no foreclosure notice posted. Of course the day it became public was the day this agent had seen it, and thus called me because he had an interested client.

When I asked the home owners why they hadn’t told me, they said it was private information and that they were embarrassed to tell me. Unfortunately, their failure at being honest cost us months on the market. Now we had to regroup and talk short sale. Time was running out, and a short sale takes time. Luckily, they had a bank that was on top of things, and we were able to get a short sale approved.  Unfortunately, their lack of honesty caused unnecessary stress and loss of time for all involved.

I could go on and on with examples of how past clients have been less than honest with me, and each one has had it affect them negatively – either through more time on the market, less money earned on the sale of their home, or no sale at all. Don’t let this be you! Be HONEST with your agent because they’re there to help get your home sold, no matter what the circumstances.

 

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1712 Mount Curve Avenue, Minneapolis, MN

Unique Marketing Tool Used to Sell Luxury Homes

Thinking of selling your high end home? Want something different that sets your home apart from others on the market and really grabs a buyer’s attention?

Check out the new video released by Jennifer Kirby, Broker/Owner of Kirby Fine Homes, that features one of her luxury listings in Minneapolis. It not only blows the ho-hum virtual tours of still shots used by most agents out of the water, it tells a story about the home and creates an emotional reaction from buyers that could just make them say “This is the ONE!”.

Want your high-end luxury or historic home to be featured next? Give Jennifer a call for a professional marketing consultation and analysis.

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1712 Mount Curve Ave

Historic Donaldson Mansion on Lowry Hill is For Sale

1712 Mount Curve Avenue, Minneapolis, MN

Built in 1906, this stunning home was designed for Lawrence Donaldson, who with his brother William, founded the Donaldson Department Store in Minneapolis. The architectural firm of Kees and Colburn was commissioned to design the family’s residence, known for a number of major works in Minneapolis including the Grain Exchange Building, Donaldson’s Office Building, and the Charles H. Harrington Mansion. They later designed the Loring Theater, the Ford Centre, and The Lowry, to name a few.

Constructed mainly of brick, the home is exquisitely detailed with a mixture of several design styles, the most prevalent being Arts & Crafts and Beaux Arts. Subtle design elements throughout the home, linked to Mr. Donaldson’s Scottish heritage, feature the thistle. Probably the most identifiable symbol of all things Scottish, the flower can be found on the facade of the house, the entry columns, above the entry door, on the chimneys, in the living room Tiffany window, and more!

Completed sometime in 1907, additional modifications to the home began in 1908 by expanding the north side – a dining room and a second floor bedroom were enlarged, a sleeping porch was added, and the screened-in porch became an enclosed sun room. The Donaldson’s also hired well known designer John Bradstreet to create a Japanese inspired Sun Parlor, as well as design the Reception Room/Study off the main foyer. In 1916, the carriage house was completed with four large carriage stalls, a second floor apartment, a number of work rooms, and a connecting tunnel.

As happened to many large properties in the Twin Cities as time moved on, the estate was subdivided into six separate lots in 1959 when it was sold by the Donaldson family. After the passing of many decades and multiple owners, the main house was bought by the current owners in 2000, who later that year acquired the original northwest hillside lot extending down to Kenwood Parkway, and in 2001 the carriage house. With three of the six lots reunited, the land totals just over an acre, or 44,792 square feet, representing one of the largest residential properties in Minneapolis.

Restoration of a Gem

Thankfully the new owners had a vision of restoring the home back to its former splendor. Over the last decade, with love and dedication, some of the highest quality craftsman and artisans were employed to bring the home back to life, while incorporating state of the art technology and modern conveniences for today’s busy lifestyle.

Carriage House

1712 Mount Curve Avenue Minneapolis Carriage House

The 3 level carriage house includes a fully restored and renovated upper level 2 Bedroom, 2 Bath apartment with kitchen, living room, and dining room and just under 1500 finished square feet. If leased, one parking stall is included with the apartment, and is located on the main level in the property’s terrazzo floored 4 car garage. The space would also be perfect as a nanny or in-law suite. The garage main level also features a workshop and tool room. The lower level, which connects to the main residence via a tunnel includes an exercise room, work shop, half bath, and storage rooms.

Currently Listed For Sale at $5,495,000. More information available at property website www.1712MountCurveAvenue.com . 

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Three Meadows Luxury Home For Sale in Mendota Heights

Mendota Heights Luxury Home for Sale

614 Hidden Creek Trail, Mendota Heights, MN

 

It is hard to believe a home of this stature can be so close to Minneapolis and St. Paul, major Interstates, and the MSP International Airport, but feel like it resides outside the Metro area. The home owners combined two lots into one to create a 5+ acre nature retreat that is amazingly quiet, secluded, and pristine…not to mention frequented by deer, ducks, turkeys, many varieties of birds, and more! Christened as “Three Meadows” for the meadows stretching on and behind the property, a favorite part of the owner’s day is walking along a nature trail that winds through the trees and land for a “good mile”.

As soon as you step into this one of a kind home, you will instantly see the quality in craftsmanship. With over 13,000 heated square feet, no detail was overlooked in its design. Built over a period of 18 months, the home was crafted by Mihm Custom Homes and finished in 2005. The three level layout has 6 bedrooms, 7 baths, 2 half baths, a main floor laundry, and another small laundry in the lower level.

Luxury Home Theater 614 Hidden Creek Trail Mendota Heights
To view additional photos, documents, floorplans, please visit the property website at www.614HiddenCreekTrail.com

[idx-listing mlsnumber=”4337196″]

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New Luxury Real Estate Boutique Opens in the Twin Cities

Some of you might be wondering where I have been the past month. While I hate to be away from the blog so much, it happens sometimes that other parts of the business take me away from writing. I have to say that the reason this time is a good one, as I have just done something I have been dreaming of doing ever since I entered real estate – opening my own real estate brokerage.

The company is small to start out with, but that’s the way I like it. Too many real estate brokerages spend tons of money of what I call “Go Big, Go Large”. Their money goes to expensive offices that no one visits, nor any agents actually work from. Overhead eats them up, and their agents suffer. The old way of running a real estate company is dying. I plan on being a part of the new way.

Kirby Fine Homes Luxury Real Estate Brokerage 

My boutique firm sells real estate in the Twin Cities, including Minneapolis, Saint Paul, Lake Minnetonka, and the surrounding Metro areas/counties. While we cater to all price ranges, special emphasis is given to luxury properties, historic homes, and waterfront/lakefront real estate. By keeping the firm small, we will be able to better serve our client’s needs with personal attention. Clients will not be lost in a shuffle of a big box firm where no one knows their name.  While our goal is to be the best, it is not to be the biggest. Think “Jerry McGuire” if you will.

Being as I have just opened Kirby Fine Homes, it will take time to get everything in place. This year a new website will be developed for the brokerage, and knowing me, an Internet presence will quickly be established. I am very excited about this new venture, and can’t wait to see what 2011 brings for the local real estate market!

“Kirby Fine Homes – Opening Doors to the Most Exceptional Homes in the Twin Cities”

 

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