Are you looking for Stillwater homes for sale? Recent MLS statistics show that transactions are up significantly over last year. Whether you are a Minnesota first time home buyer, moving up from a previous home or an investor, today is a great time to be looking for a home in Stillwater. With a combination of record low interest rates and reduced property values, housing payments haven’t been this affordable in decades. You will want to understand the 3 basic types of properties listed for sale.
Foreclosures in Stillwater
Foreclosures often represent a great value for today’s home buyer. When a bank owns the home they want to sell it quickly as they are responsible for maintenance, utilities, and property taxes There is a lot of competition from home buyers today when a foreclosure comes up for sale at a good value. It is not uncommon to see multiple offers on a Stillwater foreclosure, sometimes driving the price above the list price.
Short Sales in Stillwater
Short sales can be a good opportunity for home buyers who do not need to move within the next 6 months or so. When a seller has a home on the market as a short sale, this means they will not be able to pay off the entire loan they have on it when they sell the home. This means that after they receive your offer you will need to wait while the seller negotiates with their bank to forgive a substantial part of their debt.
Traditional sales from a home seller represent at least half of the homes on the market today. These properties are often great values in part because there has been a property owner there to take care of any the necessary maintenance on the home. A traditional home seller will tend to be more apt to pay all of your closing costs as well. If you are looking for a well-maintained home where you can move in quickly with great financing terms, a traditional home sale is the way to go.
Stillwater Community Info
Stillwater, MN is located in Washington County and is a pleasant twenty minute commute from St. Paul. Tucked in by the St. Croix River Stillwater is often referred to as the birthplace of Minnesota. While traditionally a popular day-trip destination to enjoy its historic features, there has also been growth in new housing on the outskirts of the city in recent decades. Whether you are looking for an older home or new, Stillwater is a great place to consider home. If you want to learn more about buying Stillwater please call me to start your search.
Get Preapproved Today
The first step in the home buying process is to get preapproved for mortgage financing. This means that you meet with a local mortgage lender who will review your financial situation. In this discussion they can tell you what types of MN first time buyer programs you might be qualified for. This critical first part can be done over the phone and most lenders will arrange to talk with you when you're off work, even in the evenings or weekends.
Sales Executive, Licensed Realtor in Minnesota
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities.