Richfield Homes for Sale for First Time Buyers… by Twin Cities Homes for Sale
Spring is here!
And, so is the spring market. Richfield MN first time home buyers are getting a little nervous about the deadline for the tax credit program. Good news is that we currently have 140 Richfield homes for sale under $250,000, and 52 between $200,000 and $250,000 – very popular price range. 99 of these Richfield MN homes for sale are NOT bank owned, short sale, or in foreclosure. Many of these sellers are anxious for an offer, so they too can turn around and buy a new Richfield home taking advantage of the tax credit program.
When considering making an offer on a short sale property, buyers need to remember that there are no guarantees if and when they will be approved to close. As a reminder, the program requires that purchase agreements must be signed by April 30, 2010, and the closings have to take place by July 1, 2010. Read my previous post for more details.
For the most part, bank owned and traditional sales can be closed quickly. However, Richfield MN home buyers who are using FHA home loan financing need to remember that it may take about 30 days to process their loan. There several factors influence the deadlines such as appraisal work orders, reinspections, etc. Also, during busy market times, appraisers are busy and take longer to deliver finished reports to lenders.
Richfield buyers who count on “sweat equity” when buying their first Richfield MN home, sometimes get more sweat than equity in the end. So, perhaps they should consider buying a home that’s been rehabbed. Even in lower price ranges, there several newly remodeled homes for sale in Richfield MN. New owner can move right in, and all systems are up to code. City of Richfield has a strict Point-of-Sale program designed to maintain Richfield MN housing in very good condition, so all of us residents are able to enjoy living here.
If you are looking to buy a home in Richfield, or anywhere in the Twin Cities,
contact me for a FREE consultation
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Marzena M. Melby, GRI, CDPE, Broker/Partner, Counselor Realty, Inc., Licensed REALTOR® in the state of Minnesota at If you prefer, contact me by email, by clicking on "email me"; link of this page under my profile.
Visit my website to search homes for sale in the Twin Cities and surrounding areas.
Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. Twin Cities Homes 4 Sale Blog does not guarantee, or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Twin Cities Homes 4 Sale Blog represent the opinions and ideas of the author. Twin Cities Homes 4 Sale Blog does not express the views of Counselor Realty, Inc. or its other partners or agents.
Recent Articles:
Twin Cities Market Update: “The Skinny” for March 2010
Richfield Point-of-Sale Information… by Twin Cities Homes for Sale
New HUD Acquired Listings… by Twin Cities Homes for Sale
Changes to FHA Guidelines Coming Soon… by Twin Cities Homes for Sale
Copyright © 2010 By Marzena M. Melby, All Rights Reserved
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