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.

6/2/2009 UPDATE: Application is on-line as of today!

Buyers that want to take advantage of the up to $8000 in special funds available for the 55106 and 55411 zip codes made available by the Pohlad Family Giving Foundation need to do their homework and plan ahead. As of today, the funding is NOT yet available at the Dayton's Bluff Neighborhood Housing Services of St. Paul (DBNHS). I spoke with a representative of DBNHS last week who said that the funding should be in place any day now but applications cannot be accepted for the program until the funds are received. Once the funds are in place DBNHS will start accepting on-line applications but be advised it will take 30 days to process the application and first time homeowners are required to take a class before the funds are distributed. The funds will be distributed as a seven year forgivable loan so it cannot be retroactive to your purchase. If you were planning to close on your property at the end of June or first part of July, this may be a problem if you expect to use these funds. The representative at the DBNHS advised to keep watch on the website as the link to the application will be posted as soon as the funds are available. Also remember there are limited funds available and this is a first come, first served program. When the funds are gone, the program is over so it will pay to stay vigilant if you want to take advantage of this unique opportunity. Need MORE information?

• Buying a home on St Paul’s East Side? Understanding the Pohlad Family Foundation Homebuyer Program
• FIRST TIME HOMEBUYERS! Affordability and an $8000 Tax Credit Make NOW the Time to Buy!

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.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

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The Homebuyer Assistance Incentive Program from the Pohlad Family Giving Foundation is the program that everyone is talking about on the east side of St Paul! It is a great program for homebuyers looking to buy in St. Paul’s 55106 zip code and available through the Pohlad Family Giving Foundation. I am currently working with several buyers who are interested in this program and boy are the homes selling quickly in these communities! Every other listing agent makes a point of reminding me about the "$8000 Pohlad money" for the buyer, as if we had not heard of the program. But few ot these agents have delved into the details. Some of the stories about the program are a bit exaggerated or misunderstood. Unfortunately, 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.

Need information on the $8000 First Time Buyer Tax Credit? Check out this Article: FIRST TIME HOMEBUYERS! Affordability and an $8000 Tax Credit Make NOW the Time to Buy!

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.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

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LIKE MY BLOG? Subscribe and let me email you an update!

Subscribe to Teri's Notes & Anecdotes on Twin Cities Real Estate by Email

How did that old gum commercial go? "Double the pleasure. Double the Fun." How about "Double the Savings" with an $8000 grant AND an $8000 tax credit, if you buy a home this year on St. Paul's east side?

Earlier this year the $8000 Tax Credit to first time homebuyers was announced as part of the stimulus plan. For those who may not have been paying attention, here is a quick rundown of the criteria to qualify for the government housing tax credit:

• The tax credit is for homebuyers buying their first home only. (But buyers are considered first time buyers if they haven't owned a home in the past three years.)
  
• The money does not have to be repaid.
  
• The credit is capped at 10 percent of the home's purchase price with a maximum of $8,000.
  
• Homes must be purchased on or after January 1, 2009 and before December 1, 2009. (Note not the credit is NOT available until the end of the year. Plan accordingly!)
  
• Income caps to apply...Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
  
• Additional questions on the $8000 can be answered by CLICKING HERE

Now for the exciting news for Twin Cities homebuyers. In mid-April, the Pohlad Family Foundation pledged up to $20 million to support two Twin Cities neighborhoods hardest hit by the housing and foreclosure crisis. Part of that funding is being allocated in the form of grants to homebuyers in the 55106 zip code in St. Paul and 55411 zip code in Minneapolis. These areas are considered to be the hardest hit by foreclosures statewide, according to the Minnesota Housing Finance Agency.

Anyone who purchases a single-family home or duplex in either of these neighborhoods by the end of the 2009 calendar year will receive $8,000 from the Pohlad Foundation Charity. The money will not have to be repaid if the home is kept for seven years. Also the homebuyer would have to live in the home to qualify for the grant but there are no limits on income.

Here's where "Double the Fun" comes into play: The funding would be in addition to an $8,000 federal tax credit that is part of this year's federal stimulus package. Distribution of the funds will be through the following agencies:

• Dayton's Bluff Neighborhood Housing Services of St. Paul Phone 651-774-6995
• Neighborhood Housing Services of Minneapolis Phone 612-521-3581

As many of the homes in these neighborhoods are in foreclosure, first time homebuyers need to be savvy when making there purchase. Get educated on how to buy a home by contacting a REALTOR® that knows this part of St. Paul (or Minneapolis) and how to best negotiate a good deal on a foreclosed or bank-owned home.

Other Articles that might be of interest:

• With Harold's Purple Crayon My Dream Home Would be a Snap!
• We Don't Need an Agent!-First Time Buyers Find Their Way Home
• Top 3 Big Mistakes Made by Rookie Foreclosure Buyers
• FIRST TIME HOMEBUYERS! Affordability and an $8000 Tax Credit Make NOW the Time to Buy!

Need additional information on buying a St. Paul home? If you are buying 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.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

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LIKE MY BLOG? Subscribe and let me email you an update!

Subscribe to Teri's Notes & Anecdotes on Twin Cities Real Estate by Email

Open House
Sunday, March 29th
1pm to 4pm

411 Johnson Parkway,
St. Paul, Mn. 55106

Huge Rambler built on a double lot.  Located right on Johnson Parkway in the Dayton's Bluff neighborhood.

Download PDF full listing flyer here

View the property website here

Email this Home to your Friends and Family

This home is huge!  1950 custom built rambler has 3 bedrooms, 3 bathrooms, and attached 2 car garage and another 1 car garage on a double lot with lots of sunshine on the parkway.  This short sale is a great chance to build equity and is pre-approved by the lender for quicker possession.

This home features: a huge master bedroom, 2 wood burning fireplaces, hardwood floors, all bedrooms on the main level, a formal dining room, a three season porch, crown moldings, retro 4 chime doorbell, entertainment room lower level family room with fireplace, basement workshop, and a breezeway connecting the garage.

For more information about my services, guarantees, or how I can help you find your next home, sell your home, buy a business or investment property. Just call Patti Ann Kasper today at 763-548-1418!

Touch the banner below to send this information to your friends or family!

To view my interactive on-line real estate magazine with listings, select the banner below:

Patti Ann Kasper, Your Minnesota, North Metro Twin Cities, and Blaine MN Real Estate Expert!  Associates of Science Degree in Geographic Information Systems and Cartography from Anoka Ramsey Community College in Coon Rapids, Minnesota.
© Copyright Patti Ann Kasper 2009 All Right Reserved.

There are alot of folks out there who hear "the East side of St. Paul" and they immediately think of some of its less than desireable neighborhoods.  I am not one of them.  I grew up in the Twin Cites and have lived here most of my life.  I lived for 8 years in Milwaukee WI, and the East Side of St. Paul reminds me alot of Milwaukee, WI.

You will find very distinct neigborhoods, and dining spots that are locally owned, not chains, and have all kinds of ethnic type foods.  Little place and big places.

I have been over the last 2 months showing a first time buyer and his boss many houses on the East Side, looking for what could be called "fixer-uppers," actually, Bank-owned property.  There are alot to look at. 

I especially like the values East of Johnson Parkway running North and South.  We missed a home, that needed work with a tax value of $170,000, listed for $69,900 and sold for $15,000!!!  And this wasn't a bad neighborhood either.  This is literally pennies on the dollar for value.  Did it need work? Yes, but the houses in that block were very well kept. 

Please don't avoid the value of your lifetime, but eliminating neighborhoods, because you've heard some bad things.  Check it out!! Do your homework. 

You may be surprised.

Oh, by the way..  Here's a picture and  post I used on my MLS ad for an open house this weekend.

"OUR FRIENDLY STAFF IS WAITING TO SERVE YOU AS WELL AS THEY CAN!"

I think it will get attention.

Can you guess who the Realtor is?

http://www.markgriffinrealestate.com

559 Forest St, St. Paul, MN

Walk into this wonderful historic home located in Saint Paul, Minnesota and you will soon call it home.

Built in 1884,  the original hardwood floors greet visitors upon entry as does the main living room. With the numerous windows throughout the home, natural light is easy to come by and gives the home a natural warmth.

Sit down to family meals in the formal dining room, or enjoy breakfast in the large kitchen, which offers plenty of space for a small table.

Take a stroll up the original stairs to the living area where the three bedrooms are located. The master bedroom is located toward the front of the home and has an attaching bedroom which can also be used as a large sitting area.

The third bedroom has new carpet and makes the perfect baby room, or use it as your own personal home office. Enjoy the full bathroom, also located on the second floor, which features an antique claw foot tub. 

Visit www.559ForestStreet.com .

Make sure to include this historic property on your home tour. You will be sure to enjoy it as much as the current owners have. To schedule a showing, please call Jennifer Kirby at 651-785-3400 or email JKirby@ExitRealtyEP.com .

Recent Updates Include:

• New Roof, Fall 2007
• New Electrical
• Updated Kitchen
• Refinished Hardwood Floors
• New Carpet
• Fresh Paint