Looking for a great acre + lot? This home is located on a huge corner lot and it is not banked owned or in a short sale situation. This home is in great condition and a quick closing is possible. New carpet and many other updates throughout. If you want to take advantage of the $8000 tax credit you need to have a siged purchase agreement on this home by April 30th.
Act fast so you can still take advantage of the $8,000 tax credit! For more information on this home please visit its personal website at: www.701ridge.info If you would like information on listing your home with me please contact me today!
Thanks!
612-201-7766
The perception in the Real Estate market is that all homes for sale are either bank owned or in a short sale situation. This is NOT correct according to stats supplied by the Minneapolis Area Association of Realtors (MAAR). In January of 2010 70% of the new listings were traditional listings. Bank owned listings were at 16% and Short sales listings were at 14%. How about Pending and Sold listings? 50% of all Pending and Sold listings are still traditional listings and that percentage is probably a lot higher than what the perception is. Bank owned pending and sold listings were at 35% and Short Sale pending and sold were at 15% in the month of January 2010.
612-201-7766
*all stats were compiled by the Minneapolis Area Association of Realtors (MAAR) and were from the Twin Cities metro area for the month of January 2010
I have been asked by Home Buyers as well as Real Estate Investors if we are seeing less Foreclosures on the market? The answer is yes, based on information from the Minneapolis Association of Realtors (MAAR). I would like to share with you some stats comparing January 2009 to January 2010. In January 2009 there were 1,939 New Foreclosed Listings put on the market compared to 1,093 in 2010 which is a 43.6% decrease in Foreclosed Listings. As far as Sold Foreclosures in 2009 there were 1,050 closings in January compared to 659 Foreclosed Closings in 2010 which is a 37.2% decrease.
What about Short Sales? We are seeing about the same amount of Short Sale Listings as we did a year ago but we have seen a huge increase in Pending and Closed Short Sale properties. In January of 2009 compared to 2010 we have seen an increase of 114% in Pending Short Sale properties and a 99% increase in Closed Short Sale properties.
Based on the information above it seems that the banks are working harder on negotiating with Short Sales and the result is that we are seeing less Foreclosed properties for sale. Please contact me if you have any further questions regarding Foreclosures or Short Sale properties.
612-201-7766
All of the above stats were found on the Minneapolis Area Association of Realtors (MAAR) website
I have been asked a few times lately by some of my buyers about which type of lender to use to purchase their home. Should I just go to my bank or who should I talk to? The two main options today are Banks and Mortgage Brokers. There are advantages and disadvantages of both.
Banks- The advantages you might see are that you probably already have a relationship established and you can have your home loan tied in with all the other business you are already doing with the bank. The disadvantages can be that the bank may not have the best rates and they are limited to the products that the particular bank offers.
Mortgage Brokers- The advantages would be that they have access to a variety of different mortgages and lenders and they can save you money by shopping for the best rates available. The disadvantages can be that you don’t have a relationship with the particular lender and they are free to set their own pricing. Your loan will probably also be sold to a bank soon after closing.
I always tell my buyers that the main thing is that you trust the business relationship of the lender you are working with and they will have your best interest in mind. If you have any further questions regarding Mortgage Lenders I am always willing to answer your questions.
612-201-7766
Buying bank owned properties is not as difficult as you might think. In general the perception is that it takes the bank a long time to get back to you and then your closing is months away after you get them to agree to your offer. I have been working with the banks on getting bank owned homes sold for over 3 years now and I do not see this ever happening anymore. If you write an offer on a bank owned home you should receive an answer from the bank within 24-72 hours. Also, after they agree to your offer they would like the closing to happen within 30 days if possible. So, you could write an offer on a bank owned property today and still possibly close by the end of the month.
612-201-7766
When does the $8,000 tax credit end you ask? You time is running out fast to get your free $8,000 from the government. You need to have a signed and executed purchase agreement completed by April 30,2010. You also will need to have the closing completed prior to June 30,2010 to be eligible to receive the credit. If you have any further questions regarding the tax credit please feel free to contact me at anytime by email or phone.
612-201-7766
