Currently viewing the tag: "Minnesota"
Oftentimes, experienced home buyers who have bought and financed a home before have old expectations about the process. I encourage you to remove any old understanding you have about getting a mortgage or the Minnesota real estate market. Things have changed. There is a new normal and it includes verifying more information upfront.
There are a host of first time home buyer programs available in Minnesota today from Minnesota Housing Finance Agency and other city, county and neighborhood sources and Carrie Guarrero, from Cornerstone Mortgage Company will address these various down payment and closing cost assistance programs available in Minnesota as well as the underlying loan types and qualifying requirements.
The trend of decreased new housing inventory coming on the market – new lisitings, increased purchase agreements written – pending sales, and decreased overall number of homes on the market lends itself to a market where buyers are truly having to search and sometimes fight for properties that they want. Pending sales for last week were over 300 higher in number than this time last year.
Even within these three categories, it’s important to know that not all lenders have access to all of the same products and programs or have different policies that prohibit them from doing things that another lender could do for you as a borrower.
The change isn’t slight when we compare year over year numbers. Pending home sales are actually up again 40% for this week as compared to 2010!
First time home buyers, investors and move-up buyers are constantly questioning whether now is the right time to buy a new home. Traditional home sellers are questioning whether it makes sense for them to compete with all of the bank owned and short sale properties on the market today. From my perspective, the answer is a big YES. Read more about why now is a great time to buy!
*First time homebuyer is defined as someone who has not had ownership in a property in the past 3 years. Therefore, if you’ve previously owned a home, but have not owned in the last 3 years, you have the ability to utilize these programs and receive the benefits of being a first time homebuyer again! Call me for details today!
We are very happy to introduce you to Tim Swierczek! Tim is new to Cornerstone Mortgage, but certainly not new to the mortgage industry! Tim and his team will be in our newest Cornerstone Mortgage Company office, in Maplewood, Minnesota.
[ August 19, 2010; 6:30 pm to 8:00 pm. ] So you want to buy a house – where do you start?! The first step towards home ownership is getting educated about the home buying process and finding a Team of Professionals you can trust and feel comfortable with. Please join us for a informative 90 minute home-buying seminar where you will learn everything you need to know about buying your first home.
[ May 22, 2010; 11:00 am to 12:00 pm. ] Of course we all know that when we talk about strategery it is a misspoken word describing the long term action plan to achieve a specific goal. During The Minnesota Real Estate Show on Saturday, May 22nd, the gang will discuss ‘strategery’ for home buyers and home sellers on how to navigate the waters of the post-tax-credit housing market.
Well, I can’t answer whether we’ll see a recovery in the economy as a whole but I can tell you, in Minnesota, in my neck of the woods – Dakota and Scott counties – the time to buy or sell a home is now, before the next wave of foreclosures hits. Why?
1) As a nation, we have been artificially keeping interest rates low over the past year.
Watch this video for information on the upcoming First Time Home Buyer Class
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