Did you hear it? That big woosh of air was all of those buyers, sellers, REALTORS, loan officers and title representatives that had a purchase agreement with a November 30, 2009 closing date breathing out a collective sigh of relief. An extension for the tax credit for first time homebuyers was approved by both the house and senate and is scheduled to be signed by the president today. Professionals in the industry were worried about the potential bottleneck of all the closings trying to happen before the original deadline because we all know, S*** Happens on the way to the closing table from time to time. (Yep that stands for STUF…wink, wink!) Most closings will go off without a hitch but occasionally there can be delayed a day or so. However, not closing on time could have cost some first time buyers big bucks had the extension not passed.
And, as many buyers, sellers and real estate professionals had hoped, the Homebuyer Tax Credit was not only extended but expanded to include homebuyers who have owned homes in the past. Specifically someone who has owned a home and lived in it for five consecutive years of the last eight, you could qualify for the up to a $6500 tax credit. There are guidelines and limitations so understanding the program is essential. Here are a few key details of the plan:
First time buyers qualify for up to $8000.
Current Homeowners qualify for up to $6500.
Purchase agreements must be written by April 30, 2010.
Closing must be finalized by July 1, 2010.
Income Limits are $125,000 for a single person or $225,000 for married couples.
Home must not cost more than $800,000
For additional details the NAR has two pdf links to additional information on their website:
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Fall and all of it's beautiful colors are all but a memory in Anoka County and the north and east Twin Cities metro area. While we have a few reminders as we rake, blow and mulch leaves off of our lawns, it won't be long until we are covered with that winter white stuff. Enjoy the beauty of fall while we can!
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
The deadline is looming! Not just for the tax credit for first time homebuyer. Anyone interested in buying a home in the 55106 Dayton’s Bluff area, needs to pay attention to the December 31st deadline for this program too! It’s been a few weeks since I had checked the Dayton’s Bluff website for information on the Pohlad Homebuyer Assistance Incentive Program. This is the program that caused so much excitement for buyer’s in the 55106 zip code earlier this year. But this morning when I clicked over I got a very pleasant surprise! The funds are now approved for FHA financing! If you haven’t heard about it yet, this is a great program for homebuyers looking to buy in St. Paul’s 55106 zip code and available through the Pohlad Family Giving Foundation. However, they are not just giving away money here. The funds are distributed at the time of the purchase of the home as a forgivable loan. So it is not as simple as a homebuyer purchasing a house and walking in to the Dayton's Bluff Neighborhood Housing Services of St. Paul to collect an $8000 check. That said, this is still an awesome opportunity if you want to live on the east side of St. Paul!
Here are some of the program's highlights:
*The funds up to $8000 are distributed in the form of a 7 year forgivable deferred loan.
*The loan will have an interest rate of 0%.
*Homebuyers must occupy the property as their principle residence for 7 years.
*Single family homes and duplexes purchases are eligible.
*The funds will be distributed on a first come, first served basis.
*It is only available in the 55106 zip code in St. Paul or 55411 zip code in Minneapolis.
* The funds can be used for down payment and/or closing costs including prepaids.
*First time homebuyers will have to take an approved homebuyer education class.
*Successful, prior homeowners will not have to take a homebuyer class.
*Funds are available to both first time homebuyers and previous homeowners alike.
*There is no maximum household income for the program.
*All homes must close prior to December 31, 2009.
If you are a home buyer interested in buying a home in the Dayton’s Bluff area and want to take advantage of this program, you NEED to be working with a REALTOR® and loan officer that understand the details of how the funding will best work for you. Must of the application process is supplemented by information provided from the mortgage lender or loan officer. Be certain that the people you select to work with really understand how the program works so you don’t miss out on this opportunity.For a pdf document with specific program guidelines for the Pohlad Family Foundation Homebuyer Assistance Incentive Program, CLICK HERE.
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
While getting ready for vacation a few weeks ago, I tested out our new camera and datacard on our cat. Muffin once again does not want to have a photo taken and is frankly board with the whole process. He yawned just as I snapped the photo. According to my teens, there is an internet theme of lolcats and cheeseburgers so they assured me that "Insert Cheezburger" was the best title for this shot.
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Althought it is the last day of October, there is still time to share this month's update from the Minneapolis Area Association of REALTORS®.
The October Monthly Skinny points out that even in the cooler September temperatures, theTwin Cities real estate market was hotter than average for early fall. The Twin Cities area saw a 23.5% increase in pending sales in September 2009 as compared to September 2008. Many of these purchase agreements were for homes in the very affordable under $120,000 price range. No doubt due this surge in sales contracts were due to the soon to expire tax credit for first time home buyers. That credit has been such a boon to the lower priced homes that it has really worked down the amount of bank owned properties and there is considerably less inventory in that category going forward.
Short sale properties did not see nearly the same amount of action as there is often timeframe issues when placing an offer on a home that is in a short sale position. With the tax credit deadline looming few first time buyers want to take a chance on a short sale not closing prior to the November 30, 2009 expiration date of the credit as it stands today. Yes, the credit could be extended but it is obvious from the numbers that few buyers wanted to take that chance.
So how does this compare to the real estate market is that for single family homes in Anoka County, Ham Lake, Forest Lake and throughout the Twin Cities north metro? The north metro market has had a similar pattern to the rest of the metro area. We are still dealing with a stagnanttownhomes and condo market and single family homes in the higher price points. In both of these catagories, there continues to be some amazing opportunities for buyers as compared to just a few years ago. Move up buyers and downsizers can benefit in this market if they own a home valued under $200,000, the price-point where most first time buyers are looking. Seniors who are down sizing from a reasonably sized/priced home can sell to first time buyers and obtain a condo at a steal of a price. Young families who have overgrown their starter home can move up to a larger home in the $250,000-$300,000 price range and have quite a selection to choose from.
Enjoy the video and remember that positive trends don't equate a comeback as there are still many challenges facing the Twin Cities real estate market. But we are moving forward.
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
After returning from a week's vacation in Disneyworld, I figured I'd share some of my favorite "spooky" Disney pictures.
This first one is a photo I took of my drawing from the animation class at Disney's Hollywood Studios. It is a picture of Jack Skellington and Zero from Nightmare before Christmas.
Here's an evening shot outside the Magic Kingdom after the Not So Scary Halloween party.
And last but not the least scariest by any means, a giant fruit bat photograph from the Animal Kingdom. Pretty scary considering there were no screens on the windows to the exhibit.
Happy Halloween Everyone!
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
One-of-a-Kind Showplace on 9.3 Private Wooded Acres!
This property is beautiful inside and out! From the moment you drive up the driveway between the towering oaks, pines and maples, you will know this property is something special. This custom built one and a half story with 4 Bedrooms,1 Bath and 5+Garage stalls won't disappoint.
Check out the extensive and recently expanded garage!
*A 24X62 addition was added in 2008 to the existing 2-stall garage last year to allow plenty of room for all the toys and tools.
*New sidewalks from garage to home in 2009.
*Two stall garage is sheetrocked and insulated. Gas line has been run to the garage to add heat too.
*Beautiful hickory hardwood floors are spread throughout the main level and kept warm in the winter with in-floor WIRSBO hot water heat.
*Kitchen features full walk-in pantry.
*All appliances included. Washer and Dryer New in 2007. Dishwasher New in 2009.
*Inside the home features tons of natural light from windows and skylights enhancing the open floor plan that ties the kitchen, dining and living areas together.
*All living facilities are on the main level but there are two additional bedrooms in the loft area on the second level.
*Prefer a master suite? Convert the smaller upstairs BR into a dream master bath!
*The acreage is inviting to the nature lover with landscaped areas near the home with perennial gardens.
*A recently dug (and DNR approved pond) attracts area wildlife to the front of the home.
*Trails for walking or riding wind throughout the acreage for nature-lovers who like to explore.
NOTE: This is NOT a foreclosure or short sale property! Buyers will get a quick answer on any submitted offer as this home is being sold as part of a family estate.
Need to know more information about this unique opportunity to own this beautiful home on picturesque Anoka County acreage? Call me,Teri Eckholm/ReMax Specialists at 651-336-7073.
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
For the first time in many years the Department of Natural Resources opened the tower at the Minnesota state fair so fairgoers could have a view of the Twin Cities from several directions at 65 feet above the earth. Only downside to the view was you had to climb up and down the stairs. But what a view of downtown Minneapolis!
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Put this one in the "Perpetuating the Minnesota Myth" file as this is not normal, but....SNOW is here!
No...I am not ready for this kind of weather! It snowed in MN yesterday...not even an inch but enough to stick on the grass and trees. It is the earliest snow fall in 24 YEARS in the Twin Cities. Of course it melted by the afternoon but no one wants to go from the 80's one week to the 30's the next. And...can you believe it?...The weather gurus are forecasting 2-4 INCHES more for the Monday morning commute? It is going to be a long winter this year!
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Looking for a good deal on lakeshore or acreage in the Minneapolis/St. Paul area north metro? Lino Lakes, MN in Anoka County might be just the ticket. 2009 had seen an abundance of sales in the lower price points with bank owned and lender mediated properties impacting the market. Traditional homes had longer market times and by the end of the 3rd quarter properties were starting to move in even the higher price points.
Lino Lakes has a good mixture of lakeshore, acreage and townhome residences but is more known for having a bit of space between the houses. It conveniently located near the junction of the 35E and 35W split, just north of the Twin Cities, Lino Lakes is a 33 square miles treasure. With 13 lakes and acres of beautiful protected wetland, the community is served by three school districts; Centennial District #12, Forest Lake District #831, and White Bear Lake District #624. The gem attraction is the pristine 2,700-acre Rice Creek Chain of Lakes Regional Park Reserve is situated within the heart of the city. Lino Lakes is committed to maintain this treasure and its natural settings and wildlife habitats for years to come.
Like other communities in the Twin Cities, Lino Lakes homes priced under $300,000 are selling while those priced over $300,000 are lingering on the market. Inventory is way down in the under $200,000 single family home category and sales are strong up in the $200,000 to $300,000 categories for both single family and townhomes. The third quarter cumulative days on market (CDOM) statistic is much lower than for the average CDOM first quarter of 2009 (142 versus 192). It is also better than the CDOM for all of 2008 (142 versus 160). Looking at current inventory levels and the rate of sales for single family homes priced under $200,000, there is about 3-4 months of inventory. And a bit higher with 7-8 months of inventory at the $200K-$300K price point. Surprisingly even the inventory levels in the $300K-$400K range of Lino Lakes single family homes has made quite a bit of progress this summer. This category also is under a year's worth of inventory as it has about 10-11 months worth. Hopefully this will be a trend we see continue as we end 2009 and one that will continue into the new year.
Townhomes continue to struggle even with the $8000 tax credit for first time buyersthat helped make so much difference in the single family home market. In every price category, there continues to be significant inventory and this doesn't include all of the non-MLS listed new construction townhomes in the area either. Motivated sellers will have to be very aggressive with their pricing if they need to sell a townhome in Lino Lakes. Buyers considering townhomes in the Twin Cities north metro have quite an opportunity to make a deal in the Lino Lakes area.
1st Quarter Lino Lakes residential real estate statistics for single family homes: Under $200,000~ 11 Active Listings, 10 Pending Listings, 8 Sold Listings, 164 CDOM $200,000-$300,000 ~ 42 Active Listings, 9 Pending Listings, 16 Sold Listings, 146 CDOM $300,000-$400,000 ~ 28 Active Listings, 4 Pending Listings, 9 Sold Listings, 101 CDOM $400,000-$500,000 ~ 20 Active Listings, 1 Pending Listings, 1 Sold Listings, 91 CDOM $500,000 and Up~ 10 Active Listings, 0 Pending Listings, 0 Sold Listings 1st Quarter Lino Lakes residential real estate statistics for townhomes and condos:
Under $200,000~ 26 Active Listings, 1 Pending Listings, 4 Sold Listings, 162 CDOM $200,000-$300,000 ~ 11 Active Listings, 4 Pending Listings, 0 Sold Listings $300,000-$400,000 ~5 Active Listings, 0 Pending Listings, 0 Sold Listings
Lakeshore available in Lino Lakes as of 10/11/2009
6 Active Listings
Lino Lakes lakeshore price range: $342,900-$1,118,000 1 Home on Amelia Lake 1 Home on Otter Lake 4 Homes on Reshanau Lake
Acreage properties available in Lino Lakes as of 10/11/2009
15 properties listed on 1-2 Acres priced between $149,900-$619,000. 5 properties listed on 2.1-5 Acres priced between $180,000-$349,900 5 properties listed on 5.1-10 Acres priced between $349,000-$1,118,000 1 property listed on 10.96 Acres priced at $595,000 1 property listed on 29.52 Acres priced at $749,000 1 property listed on 80 Acres priced at $6,000,000 Click HERE to Search for Minnesota Lakeshore Home!
For additional information on any current Lino Lakes real estate listing or for additional information on buying a home in Lino Lakes contact Teri Eckholm directly at 651-336-7073.
**All Statistical information sold based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 7/1/09 through 9/30/09. Home Sales Statistics for other communities in the north metro:
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Theresa "Teri" Eckholm/REMAX Specialists assists Minnesotans to find their way home with helpful tips and quality service. Dedication to customer service has made Teri the REALTOR® of choice for families in Blaine, Forest Lake, Ham Lake, Lino Lakes and Wyoming areas. Licensed in MN.
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.
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Looking for a good deal on lakeshore or acreage in the Minneapolis/St. Paul area north metro? Lino Lakes, MN in Anoka County might be just the ticket. 2009 had seen an abundance of sales in the lower price points with bank owned and lender mediated properties impacting the market. Traditional homes had longer market times and by the end of the 3rd quarter properties were starting to move in even the higher price points.
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