Two items signal an increase in purchase business for mn mortgages and mn mls homes in the spring of 2010. The much talked about home-buyer tax credit is expiring on April 30th (contract must be signed by then and closed by June 30th), and spring normally sees a uptick in home sales as well. The two items combined will hopefully result in MN MLS home sales strengthening in the next few months. Interest rates for mn mortgages are still at incredibly low levels. The MN Jumbo loan market has increased ever so slightly and the rural usda loan, well I cannot say enough good things about this program.
Once the tax credit expires I fully expect MN MLS sales to see a dramatic drop-off in home sales for the remainder of 2010, which will have Washington buzzing again about a new program to help jump start it; again. I hope they decide to leave it alone and let the markets correct themselves. Potential buyers need to buy based on ability and need. Not so they can get $8,000 form the feds, which is a lot of what I have seen from potential buyers. Some are more concerned with the money than the ability to find the right MN MLS home or obtain a safe payment.
As we enter the prime buying season for MN Mortgage hunters I hope to encounter solid sales with solid prospects. The MN MLS has a load of great homes available at even better prices. Will you be one to buy now? 1st step: Get your financing secured. Too mnay people find the house fisrt then get the money. cart before the house theroy. Contact me below to work with an advisor with your best interests at-hand and the 10+ years of experience you need in this market.
Gavin F. May
Direct: (952) 285-1072
Looking to refinance or buy a new house? Get your financing secured 1st, then find your dream home.
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