There were strong home sales in the Greater Lakes area of Central Minnesota once again in October. For the month there were 242 closed sales, up 14.7 percent from a year ago as low mortgage rates and the federal tax credit for home buyers spurred activity. With the home buyer tax credit extended and expanded, we can expect that first-time home buyer activity will remain strong, but don't bank on the same blockbuster numbers we saw this year. If you were a potential first-time home buyer who was qualified to purchase in 2009, odds are pretty good that you already bought. But if not, new homes coming on the market weekly and great buys waiting for you. The fact that the income limits have been raised for eligibility does help since it widens the credit's availability.
The $6,500 credit for second-time buyers will spur some sellers in the low-to-mid price ranges to put their homes on the market who had previously been on the fence. New listings will likely increase this winter and into early 2010 as a result.
I have listings in all price ranges and many move in ready - just bring in your own things and settle down for the winter.
Kathleen Lordbock
REALTOR/Short Sale & Staging Specialist
Keller Williams Realty Brainerd Lakes
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