November 2015

If you’re currently involved in a Duluth real estate transaction, or soon will be, get ready to hear a ton of words and phrases that you’ve maybe never heard before or, if you have, you don’t quite get their meanings.

While the following make up the tip of the iceberg, these are the terms we are most frequently asked about.

Addendum – Any time a change is made in the original purchase contract the party that makes the change must submit an addendum to the other party. Some of the changes that may be made include an extension of the closing date, additional time for inspections or changes in the purchase price to reflect the seller's payment for repairs.

Appraisal – The buyer's lender will have the house appraised by a professional appraiser

Ah, if only the rest of the country had a sweet 4 percent unemployment rate like Duluth’s. Sure, nationwide the rate has fallen but there are more than 94 million Americans not in the workforce. Layoffs still occur, even in Duluth. In fact, this morning brings news that Enbridge here in Duluth “will reduce its workforce by 5 percent,” according to MPR’s Dan Kraker.

So, what happens to your bills if you’re among those pink-slipped? Most important, how will you keep that roof over your head until you snag another job?

Take Charge

Instead of hiding from your lender, be upfront. But, first, get a clear picture of your finances – how much money will come in and how much goes out. Then contact your lender, advise them of the situation and propose a

This month DuluthRealEstate.com salutes Denfeld Senior High School, one of two high schools in Duluth. It serves nearly 1,200 students in grades 9 through 12 with 51 full-time teachers giving it the lowest student/teacher ratio (19:1) in the district.

Curriculum

In addition to the core curriculum, Denfeld High offers advanced placement and honors courses, the College in the Schools progam, career training (culinary arts, business, medical and more), a full music department and local scholarship opportunities.

Test Scores and Rankings

In 2015, 32.6 percent of Denfeld Senior High’s 11th graders met or exceeded the standard in math on the Minnesota Comprehensive Assessment exams. The district’s average in math is 45.9 percent while the