I have been working with a few first time homebuyers, and I have to say the lower price ranges from Minneapolis to Plymouth to Shakopee are red hot!
The amount of activity is incredible. When searching single family and townhomes between $100,000 to about $180,000 on average of 50% of them have offers on them within a day or two, and many buyers are willing to put in 2-4 backup offers!
It is important that buyers and agents understand that if the home is priced correctly (which some are not, especially with lower market times and unreasonable banks, which usually early in the foreclosure process) that there is not a lot of time to "think about it".
So, one last piece of advice to homebuyers (first time or otherwise) - BE READY TO BUY WHEN YOU START LOOKING! - Make sure you are pre-approved with a Good Faith Estimate you can live with IN HAND.
Thanks for your time,
Stieg Strand, Broker/Agent
(Stieg is the Author and Instructo of several State of MN CE approved Homebuyer and Agency/Fair Housing Classes with Kaplan Professional Schools - formerly Prosource, and has personally taught over 18,000 students in Minnesota over the last 8 years)
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