With the passing of the First time home buyer tax extension and the expansions Minnesota home buyers and sellers enter into some exciting times in real estate. The real estate market in Minnesota for first time home buyers has been tightening. The housing supply in Minnesota's Twin Cities area has shrunk to as little as 7.69 homes on the market for every buyer. This is a decrease of 29.3% from how many homes were available to Twin Cities buyers last year.
We specialize in working with First Time Home Buyers in Minnesota's Twin Cities metro area and have seen the demand of first time home buyers increase as the deadline of Nov. 30th has fast approached. The passing of the
extension of the first time home buyer credit gives Twin Cities buyers an opportunity to focus on their property search allowing them to make educated and confident decisions. The new terms however do not give them a complete break rather some room to breath.
With the passing of the expansions of the bill allows Twin Cities home owners who have lived in their home 5 years out of the past 8 years a $6,500 tax credit. This is HUGE opportunity for traditional homesellers in the Twin Cities who may have wanted to sell however felt they couldn't due to the conditions in the Minnesota housing market. We have buyers that desire to buy these homes as the inventory has gotten very low. So my advice to anyone looking to sell their Minnesota home is... NOW IS THE TIME!
The difference of the effects of the old first time home buyer credit vs the new one is that the old bill assisted only one segment of the Minnesota home buying market. The majority of that segment, first time home buyers were using the tax credit to purchase foreclosed properties in Minnesota's Twin Cities area. Seeing those purchases were from banks it did not create another pool of buyers. With the passing of the extension of the first time home buyer bill and extending it to another segment of the Minnesota housing market you will now create two segments in the market.
This creates a much healthier move back to more traditional sales where you have a buyer that is purchasing from a private party home owner vs a corporation. Which that alone is a very good thing. The benefits of the passing of the first time home buyer extension and expansions are yet to fully be seeing however it most definitely is a positive move towards a stronger, healthier Twin Cities, housing market.
The real estate market in Minnesota is continueing to see positive movement. As you will see here in MAAR's Monthly Skinny were MAAR'sCEO, Mark Allen recaps the performance of the Twin Cities real estate market.
Here are a few of the video's key points for Minnesota's Real Estate Market in the Twin Cities Metro Area for the month of July of 2009.
Pending sales are growing strong and increased 16 % over July of 08.
Our listings supply continues to decline. We had 25,862 homes on the market a decline of 21.6% percent from this time in 2008.
New listings: The number of new listings that have come on the market is as low as the we had in 2002
Minnesota home sellers are receiving on average 94% of their asking price which is an increase of 1.4% from July of last year.
Lender Mediated properties still have a strong presence with them holding 43.6% of the pending sales
With the $8,000 federal tax credit for first-time home buyers and mortgage rates at historic lows, it's not surprising to see these positive gains in Minnesota's Twin Cities real estate market.
Minneapolis's eclectic Uptown area is always a happen'n place however only once a year it plays host to it's highly antisipated Uptown Art Fair. This year the Uptown Art Fair was August 7-9th and despite the rainy weather once again the Uptown Art Fair was a success.
The lifestyle of the Brainerd Lakes areais one of the most sought after in Minnesota. The area is known for everything from Paul Bunyanand Babe the Blue Ox to it's pristine golf coursesand it's sandy shores. It is no wonder this area is an escape for vacationers and is the second home to so many.
As you can imagine an area of such demand calls for high property pricing however the Cottages on Whitefish have created an option for you that makes the dream of owning a second home in this area possible. Their innovativefractional ownership idea was developed with you in mind.
Just some of what you will enjoy:
Fully Furnished Luxury Cottages
Professionally Managed - we believe in taking away the 'chores' of a cabin and providing you with worry free ownership.
Valet Boat Service - simply walk down to the dock and your boat is ready and waiting for you.
Club House, Pool, & Spa House
Across the street from the Golf Course
Located directly on the waters of Clamshell Lake which is a protected bay of the Whitefish Chain of Lakes
If you are seeking an affordable 'get away' that allows you to enjoy every second of your vacation you owe it to yourself to check out the Cottages on Whitefish. Prices start at $79,900.
Kimberly Koehler | Exit Three Rivers Realty | 651-209-9366
1057 Bahls Dr, Hastings, MN
Spacious Walk-Out Rambler Style Town Home - Bright & Open Layout w/ Main Floor Laundry, Master w/ walk-in closet and bath. Large Rooms!
3BR/2.5BA Townhouse
offered at $122,900
Year Built
2001
Sq Footage
2,012
Bedrooms
3
Bathrooms
2 full, 1 partial
Floors
2
Parking
2 Car garage
Lot Size
Unspecified
HOA/Maint
$195 per month
DESCRIPTION
Spacious, walk-out rambler style, side by side townhouse. This lovely home is bright with many windows, has a wonder layout that is open and very spacious. There was no compromising of space or storage when this home was built.
You will enjoy the master bedroom suite, with it's an oversized room that has plenty of space for a king size bedroom set, with a walk-in closet and your large private master bath.
The basement is finished and is a walk-out. There is one large 14 x 14 bedroom or office space, with an even larger room across the hall that could either be an additional bedroom or the lower level entertainment room. For your convenience there also is a 3/4 bath in the basement as well.
Whether you are a First Time Home Buyer seeking to take advantage of this wonderful house market and use the $8,000 tax credit, or seeking a home with one level living yet still desire space for entertaining and guests or seeking to purchase and desire to have roommates and there are many, many more types of buyers this property would be perfect for.
If you are seeking to purchase, desire hassle free living but do not want to sacrifice on space and give up your basement ... then you owe it to yourself to set up a private viewing of this home today!
see additional photos below
PROPERTY FEATURES
- Central A/C
- Walk-in closet
- Family room
- Living room
- Dishwasher
- Refrigerator
- Stove/Oven
- Basement
- Washer
- Dryer
- Laundry area - inside
- Balcony, Deck, or Patio
- Yard
COMMUNITY FEATURES
- Guest parking
OTHER SPECIAL FEATURES
- Walk-Out Basement w/ patio, Main floor deck and porch, Main floor laundry
In an article today in the Milwaukee Journal Sentinel, it was reported that it’s becoming commonplace for lenders to refuse to take title to some properties following foreclosure. Why would a bank bother to foreclose and then abandon the property? It’s simple economics. Many of the homes just aren’t worth the bank’s efforts. But then, why would they foreclose? And who ultimately owns such properties? The answers are often as confusing an illogical as the creation of the subprime collapse that precipitated the problem.
What’s happening is a crime—perhaps not legally, but figuratively. Sometimes it’s a crime against the very people who have already suffered the most; and other times it’s a crime against neighborhoods trying to recover from issues of high crime and drug dealing. In the words of Catherine Doyle, attorney with the Milwaukee Legal Aid Society, “This is just the meanest and nastiest thing (lenders) could do. Even more profound is the terrible damage to the community.”
Abandoned homes become a blight on neighborhoods, havens for drug and criminal activity, and create fire and safety hazards. No longer sources of tax revenue, such homes are a drain on struggling cities resources, and ultimately cost taxpayers thousands more when ondemned and bulldozed.
The procedure, known in the trade as “walkaways,” is a growing problem, especially for cities, where most are pressed for revenue. The mortgages on these homes, the great majority of which are subprime, were often made by now-defunct mortgage brokers, and are being foreclosed upon by loan servicers on behalf of investor groups often thousands of miles away. And, unfortunately, there appears to be no solution to the problem.
Have banks lost their hearts, or is it they never had one? The image of the friendly neighborhood banker was perhaps always a utopian vision; but what they’re doing is egregious on a monumental scale. Throwing people out of their homes, only to have those homes bulldozed later, is not only inhumane, it’s sheer stupidity. Once the owner is forced out, the home falls in to disrepair, may be vandalized, and everyone loses. And, the irony is; when the bank walks away, the original owner is still on the hook for taxes, boarding-up and clean-up fees that can run into the thousands of dollars. It’s a game of no winners.
Tips on buying, selling, building, remodeling, and the latest trends in housing:The Housing Guru
Kimberly Koehler | Exit Three Rivers Realty | 651-209-9366
332 Oak St, Prescott, WI
Amazing Views of the St. Croix River
2BR/4BA Single Family House
offered at $285,900
Year Built
1999
Sq Footage
2,598
Bedrooms
2
Bathrooms
4 full, 0 partial
Floors
2
Parking
2 Car garage
Lot Size
Unspecified
HOA/Maint
$120 per month
DESCRIPTION
One of the best views in Prescott, overlooking St Croix River. Relax and enjoy this quiet river town 30 min from downtown St Paul. Enjoy stunning sunsets from your deck. The St. Croix offers wonderful fishing, boating, biking and hiking.
This beautiful home features an expanded deck over looking the St. Croix River, a garden area, 3 stone fireplaces, a large pantry, walk-in master closet, beautiful master bath with stunning views of the river, large master bedroom, cozy walk-out basement and tons of storage.
Set up your private showing on this home today!
see additional photos below
PROPERTY FEATURES
Central A/C
Central heat
Fireplace
Walk-in closet
Hardwood floor
Family room
Living room
Dishwasher
Refrigerator
Stove/Oven
Microwave
Granite countertop
Basement
Washer
Dryer
Laundry area - inside
Balcony, Deck, or Patio
COMMUNITY FEATURES
Garage parking
Laundry on-site
OTHER SPECIAL FEATURES
walk-out basement, views of the St. Croix River, soaker tub,
The real estate market in Minnesota is seeing a consistent rise and positive signs of a healthier real estate market. The Twin Cities real estate market shows no signs of slowing down its positive rise.
Here are the current points for the Minnesota Real Estate Market in the Twin Cities Metro Area for the week ending March 28, 2009.
Pending sales are growing strong and increased 28.2 percent over last year.
Our listings supply continues to decline. The total number of houses for sale is 26,131, a decline of 16.2 percent from this time in 2008.
Days on Market (DOM) continues its downward trend, dipping an additional 9% over last years number. This means average seller(s) in Minnesota will have their home on the market for 150 days prior to accepting an offer
Supply-Demand Ratio in the Minnesota Housing Market has fallen 23.5% from this time last year as well. Meaning there are 5.57 homes offered for sale for each active buyer in the Twin Cities Metro Area.
With the $8,000 federal tax credit for first-time home buyers and mortgage rates at historic lows, it's not surprising to see these positive gains in our local Minnesota real estate market.
Our home buyer workshops are designed to prepare you for the buying process in the current real estate market. With how life changing the purchase of a home is, you owe it to yourself, your future, to take the time and educate yourself on the process.
We truly believe, KNOWLEDGE IS POWER!
We will:
Explain the $8,000 Uncle Sam wants to give First Time Home Buyers
Review Current Market Stats - Where we have been and where it appears we are going
Share Special Financing Programs Available
Provide you with Tools & Resources where you can search for homes on your own and at your leasure
Assist you with Determine what house payment you can truly afford with the lifestyle you live
Give you the oppertunity to Receive your credit report and get pre-approved
Help you develop a personal home buying plan
Have Foreclosure education - What is happening now and how to prevent this from happening to you
Give you all the time you desire to ask questions so you can get what you desire out of this FREE webinar
We are committed to empowering you to make confident, educated, real estate decisions. Join us for this no obligation, FREE, and educational Webinar!
Don't be left in the dark, join us online! Register Here
*registration required, webinar directions will be provided 48 hrs prior to class*
Keywords: First Time Home Buyer Seminars, MN First Time Home Buyer Seminars, Real Estate, Woodbury, Oakdale, St. Paul, Minneapolis, Edina, Richfield, St. Louis Park, Bloomington, Stillwater, MN REO Homes, Foreclosures in MN
‘Foreclosure Tours’ - What is a ‘Foreclosure Bus Tour’?
‘Foreclosure tours’ or ‘Foreclosure bus tours’ are sweeping across the nation. ‘Foreclosure tours’ have been featured in news stories on CNN, FOX, MSNBC, and many more. ‘Foreclosure bus tours’ have also hit the pages of places like the Wall Street Journal and internet blogs. You may have seen these stories.
‘Foreclosure tours’ are usually lead by licensed Realtors or loan officers. Typically the goal is to introduce themselves, provide a unique experience to you and hopefully assist you in purchasing a home and rebuilding the communities plagued by foreclosures. To the best of my knowledge, I have not heard any of these ‘foreclosure bus tours’ pressuring any of their attendees rather the opposite. The spirit of most ‘foreclosure tours’ is one of laughter and fun all the while providing education.
‘Foreclosure bus tours’ can run as short as 3 to 4 hours and we have seen some advertisements for an entire day event (5 to 6 hours). A ‘foreclosure tour’ could have anywhere from 10 to 16 attendees to as many as a large Coach luxury bus. The number of homes you may view can range from 7 to 15. The featured foreclosed home price range can be from 5k to above a million dollars. Some ‘foreclosure tours’ are free of charge while others range in price from $19.00 to $29.00. We have heard of some accounts in CA where they charge $49.00 to each attendee. Each ‘foreclosure bus tour’ like the real estate professionals running them, have a different flare and personality.
Often times there is a team of real estate professionals on the ‘foreclosure tour’. These professionals range from Realtors, home inspectors, loan officers, carpenters and more. The goal is to have these professionals on the bus tour so you can ask questions and again, be educated along the way.
The most common feedback that is given by tour attendees is that they found the ‘foreclosure bus tour’ to be enjoyable, educational, a lot of fun and an eye opener.
If you have an questions about attending a foreclosure tour please feel free to contact me directly or post a your questions
below. If you have held your own foreclosure bus tour please share your experience with us below.
Woodbury Real Estate, Minnesota Relocation Info, Foreclosure Bus Tours, Home Buyer Seminars & Workshops, St Paul Real Estate, Minneapolis Waterfront, St. Paul Waterfront, St. Croix Riverfront, Real estate tips, MN Real Estate Market Stats, Stillwater Real Estate, Hudson Real Estate, Lake Elmo Real Estate, Oakdale Real Estate, Real estate careers
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
What’s happening is a crime—perhaps not legally, but figuratively. Sometimes it’s a crime against the very people who have already suffered the most; and other times it’s a crime against neighborhoods trying to recover from issues of high crime and drug dealing. In the words of Catherine Doyle, attorney with the Milwaukee Legal Aid Society, “This is just the meanest and nastiest thing (lenders) could do. Even more profound is the terrible damage to the community.”
Central A/C
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