Foreclosure and Short Sales
Sales are Up! Listings are Down! Let the Housing Market Olympics Begin!
Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Pending Sales are Up! Listings are Down! Let the games begin! Narrated by Cari Linn (2012 President, Minneapolis Area Association of REALTORS®), video produced by Chelsie Lopez. | CLICK HERE to view in a separate window or just click the embedded clip below:
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5 ways to rescue your Underwater Townhome…
The question makes my heart *Sigh* each time I hear it. “What should I do with my Burnsville Underwater Townhome?” “How can I sell my Apple Valley Townhome if it’s Underwater?” “I can’t sell my Lakeville Townhome, but I need to move?” “When will my Farmington Townhome be worth more than I owe on it?” “Should I Short Sale my Eagan Townhome?” “What happens if I let my Rosemount Townhome go into Foreclosure?” Each person’s situation [...]
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Weekly Market Activity Report February 6, 2012
Our Weekly Market report brought to us from the Minneapolis Area Association of Realtors. Whether motivated by the election cycle, a jump in employment, improving housing market metrics or the best start to a year for the S&P 500 since 1989, home buyers posted increased activity levels compared to last year. Consumers signed more purchase agreements but sellers entered into fewer listing contracts. Changes in supply-side metrics confirm this, suggesting that relatively less new product [...]
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Why do so many homes for sale on the internet already have offers?
Buyers are heartbroken to learn the home they studied on a website for more than an hour last night is already sold! The true Multiple Listing Service used by Realtors shows if a home has an offer on it, but this information is not forwarded to websites viewed by home buyers. I’m not certain why this information doesn’t follow the listing out to the general public. “It’s confusing for homebuyers and skews the perception of how many homes [...]
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Minneapolis area housing market has reasons for optimism in 2012…
Minneapolis Area Association of Realtors, The Skinny Report! 2011 Annual Wrap-Up: Lower Prices but a Healthier Market! The annual wrap-up from the Minneapolis Area Association of Realtors is a concise, information packed article. I thought it was well worth sharing. I’ve edited the article slightly to fit the space available. To read the full story go to the most recent, “The Skinny” by the Minneapolis Area Association of Realtors. Decreased supply, high demand and low prices [...]
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Contract for Deed properties available, 35 properties for sale today….
A Contract for Deed is private financing between a Home Buyer and a Home Seller. Currently we are receiving more inquiries from potential buyers about the availability of CD financing. Some home sellers in Savage and Prior Lake are offering Contract for Deed Terms. There are also several properties for sale on Contract for Deed in Lakeville, Farmington and Apple Valley. The search I did today yielded 35 properties for sale South of the River offering Contract for [...]
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Can I Refinance my Underwater Mortgage?
Great news for South of the River Homeowners, it may be possible to lower your interest rate, even if your mortgage is underwater! This is a huge change in policy and procedure. Previously under the HARP guidelines, the amount of mortgage you could refinance was capped at 125% of the Appraised Value of your home. The big change is, appraisals will no longer be required. You can re-finance your mortgage without worrying about the value of [...]
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Where will home buyers in Dakota County come from next?
When I put my ear to the ground, I swear I can hear hoof beats. The sound is distant and faint but steadily pounding and slowly advancing! It’s music to our ears, what is it? It‘s the future buyers, they are entering the market as a trickle now and will grow steadily in the next 3 years! Today I received another call from a past client letting me know they are pre-approved for an FHA Loan and ready [...]
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What should we do with the House during a Divorce?
Divorce requires decisions about everything in your life, including the house. What should we do with the house during a divorce? Years ago the solution was simple, you either sold the house and split the proceeds or one person refinanced the home into their name only and paid off the other person. Those options are not available for many divorcing couples in today’s Real Estate Market. Selling the home may not be possible because the [...]
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Beware of Loan Modification Scams and Swindles….
Loan Modifications have helped many homeowners and banks are approving modification requests more often. Many Banks have streamlined their process. There are several new programs including the HAMP program for loan modification and HAFA, a program to assist homeowners through the short sale process. The Minnesota Home Ownership Center is a great resource website. They offer information and links to certified Foreclosure Counselors by county. In Dakota County homeowners can contact the Dakota County Community [...]
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