Archive for October, 2009
Twin Cities Buyers Seem to Have Borrowed Some More Time
October 30th, 2009 Categories: Mortgage Stuff, National Real Estate News, Real Estate News, Twin Cities Home Buyers, Twin Cities Real Estate Economy
Set to expire at end of November, plan will remain until end of April
My friend in the mortgage biz at Prime Mortgage sent me the latest news on the first-time home buyer credit:
Senators agreed Wednesday to extend a popular tax credit for first-time home buyers and to offer a reduced credit to some repeat buyers.
The tax credit provides up to $8,000 to first-time home buyers but is set to expire at the end of November.
Senators agreed to extend the existing tax credit for first-time home buyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.
The tax credits would be available to home buyers who sign purchase agreements by the end of April. They would have until the end of June to close on their new homes, said a congressional aide, who spoke on condition of anonymity because he was not authorized to publicly discuss the deal.
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10 “Must Haves” Your Realtor Should Provide for You
October 11th, 2009 Categories: Keller Williams, Real Estate News, Twin City Sellers
When you decide to sell your home, you need to do your homework before selecting a Realtor. It’s a good idea to interview three of us before making your choice.
Here are the top ten “must haves” your Realtor should provide for you:
- Top-notch integrated website that allows lead capturing and detailed information about your property.
- Massive coverage of all real estate internet websites with your home’s information and lots of pictures.
- Hold a Realtor open house as soon as possible to obtain price and condition opinions of other Realtors and to allow them to preview the home for their potential buyers.
- Make sure to obtain feedback from the buyers’ agents to provide to you on a timely basis.
- Make suggestions as to what needs to be repaired, cleaned or removed from the home before listing.
- Price the home properly right from the start.
- Strong and firm negotiating when receiving an offer from a buyer.
- Communication, either by phone or email, on a consistent basis…even if there is nothing new to tell.
- A strong real estate brokerage to back up your Realtor’s administrative needs, which includes an excellent appointment coordinator.
- Confidence, trust and integrity are crucial to a good working relationship between you and your Realtor.
In order to sell your home, you and your Realtor need to agree on a sound working relationship to get the job done. By the way, if I, as your Realtor, didn’t think I could live up to these “must have” provisions, I wouldn’t have written this post!
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A Little Confusion on the Minneapolis Advantage Funds
October 10th, 2009 Categories: Minneapolis Home Buyers and Sellers, Real Estate News
Map of MPLS Advantage Funds If you are looking to buy a home in Minneapolis, that’s great! There are some great programs out there that various neighborhoods are offering, as well as some grants. One of the programs that some of us thought were city-wide are, in fact, not available. That is the Minneapolis Advantage Program. Only certain neighborhoods fall under the program. Above is a map that shows the neighborhoods that have these funds available.
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Twin Cities - What You Should Know Before You Buy That Flippin’ House
October 9th, 2009 Categories: Real Estate News, That Flippin' House
The big Twin Cities area foreclosure auction has come and gone. Many homes were sold to would-be investors who want to flip their new purchase. Some of these investors had never been inside the house that they just purchased.
Finding just the right home to fix up and resell can take time. There are many things you must consider before you buy. There’s been a real surge of homes sales to people who got caught up in the Flip This House craze.
Here’s how to make sure your flip doesn’t flop. Read the rest of this entry »
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