Not one Minnesota city is in the top 25%! Wow. 

Here are the facts for Minnesota Cities:

I got these facts from http://www.housingpredictor.com/minnesota.html you can go and check it out. I read some really interesting things on this site! I hope it helps...

So today I got a letter from my mortgage company today saying they have sold my mortgage to Metlife! What is this? After I told Cole about this he said to me that he remembered at the closing we where told that First Horizon retained 90% of there mortgages. WE MUST BE IN THE 10%!!!! Wow... So anyway this letter doesn't really tell me anything besides don't send us money on September 1st. Ok I won't....I just hope that Metlife is as good as First Horizon was. I really liked them.....How often does this happen to people? Why do they sell off mortgages from one company to another? I think it is interesting is all.

So often times I wonder about how I should prospect potential buyers and sellers. One thing that someone told me to do is to pick up a phone book and start calling? WHY? Why would anyone do that? This came from an instructor at real estate school. One way that I have used in the past is craigs list. Not that I have ever gotten anything off of that really besides people looking for business from me. So what are ways that others use? I have talked to other real estate agents and they say the key is to network. Where? One idea is to go to a social event or have one yourself. Another way to prospect is to tell everyone you know that you are an agent. So what are your ways that you prospect?

So today I went to the grocery store, the place I hate most of all in this world, and as I was shopping I was also people watching. For some of us business is dead and for others its good. I watched this man adding up everything that he had in his cart. I didn't think much of it until I went to the next aisle came across  two ladies doing the same thing. I thought wow I have never seen people do this before. Is it due to the times that are upon us? Are more people watching what they spend? If people are not spending money on things are they saving it for a rainy day? For me I am watching every dollar we bring in. I was never like this in the past I use to spend, spend, spend! Now I am seeing that it is important to save and watch every dime!

Calling all new agents! Check out our new group on Acitve Rain! This new group is for new or newer agents who want to network and get to know other agents! Please join or if you know a newer agent please tell them about it. As we all know networking is on of the best ways for us as agents to get to know each other and share ideas! So join and post your thoughts!!

So I started a new group on active rain for new agents. Its a group for others to get together and network with each other so that people can share there ideas and get to know each other. When we get members I want to start having maybe monthly events at our office to get us to gether and meet each other....What are other peoples thoughts...

Buying a home can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible:

1. Check your credit.
Before you apply for a home loan, regardless of your credit, it's a smart idea to obtain a copy of your credit report from the three major credit bureaus and review the information. If there are errors or things that need to be addressed, it's easier to address them before you have found a house, than after you have found a house and are trying to close your loan.

If you know that there are a few blemishes on your credit, let your lender know what they are, why they are there, and why you are a still good credit risk. Lenders look at your credit to determine how likely you will pay back the loan. If you had extenuating circumstances - like a loss of a job or medical bills - let them know so that they understand that it is not likely to happen again in the future.

2. Get approved before you buy.
An approval means that a lender has reviewed your credit history, verified your assets and employment, and has approved your loan before you have found a home to purchase. As long as the home appraises for at least the purchase price, the loan should close.

Getting approved also gives you an advantage over other buyers. Your firm approval makes it easier for you to negotiate on the price of a home, than a person who is not approved or is pre-qualified.

While getting pre-qualified may sound official, it is really just getting an idea of what you can afford. Its having a person plug in a few numbers that you give them - your monthly income and your monthly debt - and getting an approximate payment calculated. From the payment, the calculator can approximate the house price range that you can afford. No information is verified. Because your assets, income or credit is not verified, a pre-qualification has little value when purchasing a home.

3. Find a great buyer's agent.
Traditionally real estate agents represent the sellers in a transaction. When you are not working with a buyer's agent, they are less likely to negotiate the best price or contingencies for you.

A buyer's agent's job and fiduciary responsibility (meaning legal duty) is to you, the buyer. Before working with an agent, establish if they are a buyer's agent or a seller's agent. After spending a lot of time with a Realtor, it's natural to feel like you're a team. But if they are not negotiating for you, then they are not on your team.

1.  Don't go on Blind Dates

 Don't be set up.  Assess in great detail what you are looking for in a home.  The more strict and structured you make your needs/wants list beforehand, the less likely you are to be blinded when you view a house.  You may get excited by the glass tile tub surround but don't overlook the fact that one of your requirements was an attached garage.  That tile is pretty, but it's not going to keep your car warm and dry all winter long!Set strict priorities and you are far more likely to get a house that you can have a long-term relationship with.

 2.  Don't go Alone

 Having a real estate professional on your side will help you during every stage of the home buying process.  From getting advance notice of newly listed properties, skilled negotiation, and help with paperwork, having someone on your side is extremely important.

 3.  Buy a Lifestyle as well as a House

 Owning a home is a major life adjustment.  Not only do you have to keep in consideration the layout of the house itself, but you will need to consider the surrounding areas as well.  Things such as the locations of schools, churches, doctors, parks and anything else you consider important to your lifestyle should be taken into account. You will not spend every minute of your time in your home and therefore you need to look at the overall picture when purchasing a house.

 4.  Your House Will Also Own You

 Buy within your means. When you get pre-approved for a mortgage, focus on seeing that number as a maximum.  Getting pre-approved for an amount slightly higher than you were considering spending in the first place can be very tempting with the new options that a higher price range opens up. Buying even a little out of your means can make a big impact on your finances for years to come.  Particularly as a new homeowner, you may be surprised by the increase in utilities, and the burden of expenses like property taxes and maintenance. Don't over-extend yourself. Remember:  "House-Broken" can happen to people, not just pets!

 5.  Have Fun!

 Despite the potential drawbacks, buying your first house is an exciting, enjoyable, life-changing event!

Owning your own home can have an overwhelmingly positive effect on your finances, your lifestyle, and your well-being. Enjoy shopping for a home and making plans about redecorating, landscaping, and planning rooms. You only get to buy your first house once, so don't forget to enjoy the ride!

So we all have been hearing about the housing bill. This bill would set up a program under which the government would back mortgages that lenders agree to write down in order to avoid foreclosure. Is this a good idea? I think it would be a good idea and the reason is there were way to many mortgage brokers that prayed on people. Does anyone really read anything at there closing or do they just nod there head and sign there life away? I know I signed my life away and as the closer was talking I just signed, signed, signed....Luckily I had a great mortgage guy that I am friends with. Anyway. I think that the government should be going at the bad people. People should have read there paperwork better yes but they should not loose there home because they were given an adjustable rate, So if the bill passes people will be able to stay in there homes. Here's my advice to everyone though...

-Know what your getting in to

-READ EVERYTHING!!!

-If you don't understand something ASK!!

-Talk to your agent and mortgage person.

Well this past Saturday we had our second Foreclosure power tour in the south metro and it was great! We had a great group of people who joined us and they were all excided. There was one that was really excided who was very involved. Anyway the others on the tour all were involved as well and were asking all kind of questions. IT was great to hear there questions. It shows me that this is really a great idea for people.

I was calling on homes the other day and was talking to other agents about some of these REO homes. The two that I actually talked to both where very interested and both told me that we could use ANY of there REO homes on our tours. It shows me that other agents want to help and they need help to sell these homes to help flip the market.

Stay tuned to see where and when the next tour is going to be!!!