Archive for the 'Twin Cities Home Buyers' Category
NoMi Home Tour…What makes it tick like it does?
July 17th, 2010 Categories: Minneapolis Home Buyers and Sellers, My Listings, North Minneapolis, Real Estate News, That Flippin' House, Twin Cities Home Buyers, Twin City Sellers
Unbelievable to some, the area (click here for a map) of North Minneapolis is a vibrant, solid and happy piece of real estate that many consider scary and decayed.
Wake up, my Twin Cities people!
Most every week, I end up defending this distinct area. I grew up in the City of Detroit (really!) and, believe me, this is like Beverly Hills, compared to the Detroit area. In fact, where I grew up, my house has been bulldozed, along with a 2 square mile stretch that I called home to me and my friends and neighbors. (Pheasants now inhabit the area. Yuck.)
Each individual neighborhood in North has its own committees that work as hard as can be to boost the homes and businesses that lay among their turf. Granted, there are shootings and robberies in North that take us back a few steps, but for for the most part, these hard-working, good citizens have a lot to be proud of.
Today, Sunday, July 18th, the NoMi Home Tour will be happening for those potential buyers who would like to live in a great city and have access to downtown only within minutes…seriously, just a couple of minutes! The homes are vintage mission style bungalows that speak to quality, charm and good neighbor issues.
Please join us Realtors who have invested in our clients the opportunity to view and purchase some of the most unique and cared-for homes in the Twin Cities.
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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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That Little Gray House With The Black Shutters…With a Big Past!
June 11th, 2009 Categories: North Minneapolis, Real Estate News, That Flippin' House, Twin Cities Home Buyers, Twin Cities Real Estate Economy, Twin City Sellers
Don’t get me wrong, I like nothing more than to tell a “feel good” story without a past. Unfortunately, life doesn’t always swing that way.
Lucky for a few, my client, Jennifer, aka, Flipper Girl, makes dreams come true. Now, I’m not a Pollyanna-type blog writer and, trust me, Jennifer isn’t the Pollyanna type either, but she is all over making dreams come true.
This week, I had a reporter from the Star Trib call me for some info about a house that Jennifer rehabbed. Turns out, it was the very first house that was given up by the Greater Minneapolis Housing Corporation. That’s no easy feat. I had a few discussions with the powers-that-be over there. I had to send pics of the other homes that Miss Jennifer had rehabbed to make sure the they would accept her work on the FIRST EVER TJ WACONIA property to be turned over to the public.
They said, “OK”. That’s a BIG DEAL!
Here’s the story of the woman who purchased it from Jennifer that was written by the Star Trib in yesterday’s paper…
Program helps heal wounds of North Side housing fraud
The house sits on a quiet street across from a fire station. The gray stucco looks freshly painted and the front windows are framed by black shutters. Inside, hardwood floors gleam in the morning sun as Jackline Mukiibi, 25, shows off her home, the first home owned by anyone in her family.
Daughter Ava, 3, is away at day care, but her photos sit atop a shelf. Over by the stereo is evidence of a fledgling modeling career, a Target ad featuring the toddler.
It doesn’t look like a house with a notorious past, but it is. Mukiibi’s tidy home was part of the TJ Waconia real estate scam that washed through the North Side. Over a three-year period, developers Jonathan Helgason and Thomas Balko of TJ Waconia bought and resold houses for inflated prices to straw-buyer investors, triggering a foreclosure crisis that left many homeless and many homes abandoned. In April, Helgason and Balko were sentenced to eight and seven years in federal prison, respectively, for their crimes.
Mukiibi represents an effort to reclaim that part of the city, one house at a time. Hers is believed to be the first of the 141 homes from the scam to be sold.
Working through City of Lakes Community Land Trust and taking savvy advantage of several other programs that encourage home ownership, Mukiibi cobbled together a mortgage loan and down payment and moved from her tiny apartment in February.
Mukiibi paid $703 a month for her apartment. Now she lives in a three-bedroom, two-bath house with a finished basement, family room and a fenced yard for $728 per month.
Born in Uganda, Mukiibi came to the United States with her parents when she was 2 years old. “I dreamed of owning a house when I was a little girl,” she said. But she got pregnant at 21, which seemed to limit her ability to buy in the near future. Mukiibi works for a nonprofit and goes to school full time at Metropolitan State University, where she is earning a degree in ethnic studies.
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Additional $8,000 to Buyers in the 55411 Zip! No Kidding!
April 17th, 2009 Categories: My Listings, North Minneapolis, Twin Cities Home Buyers
Here is an open letter to the “powers that be” in Minneapolis that Rony Davis wants to share with everyone:
Great News !
I am so excited…I want to shout!
Neighborhood Housing Services of Minneapolis is absolutely thrilled to tell you that the Pohlad Family Giving Foundation has provided 1 Million Dollars in home buyer assistance funding to NHS of Minneapolis, designated specifically for the Minneapolis 55411 Zip Code. This area includes the Jordan, Hawthorne, Willard Hay and Near North Neighborhoods of Minneapolis.
The down payment, closing cost funds are available up to $8,000 @ 0%. These loans will be deferred (meaning no monthly payment) and forgivable after 7 years of continued ownership and residency.
These funds have no income restrictions and are not restricted to first time home buyers, although first time buyers must complete Home Buyer Training and buyers must intend to occupy the home. Further, this program may be used in conjunction with other home buyer assistance programs. How great is that!
Eligible homes include single family, duplexes, town homes and condominiums in the 55411 zip code of Minneapolis.
We are very excited about this wonderful opportunity and we appreciate the Pohlad Family Giving Foundation for their generous commitment to the stabilization efforts in our community and their confidence in NHS.
For more information, call NHS of Minneapolis at 612-521-3581 weekdays and/or check out the flyer, attached.
Please forward this notice to others who may benefit from this exciting news.
V. J. (Rony) Davis
Executive Director
Neighborhood Housing Services of Minneapolis, Inc.
1501 Dupont Avenue N.
Minneapolis, MN 55411
612.521-3581
Check out this listing at www.JeanieHoholik.com and http://www.twincityrealestatechat.com/2009/03/20/2755-russell-avenue-north-sneak-peak/ . You have access to Minneapolis Advantage funds. If you’re a first time home buyer, another $8,000 credit and, now, $8,000 from the Pohlad Foundation! Plus that, interest rates are at an all time low.
Seriously, what are you waiting for?
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First Time Home Buyers Listen Up! You May Want to Move to Plymouth!
March 11th, 2009 Categories: Plymouth "News", Real Estate News, Twin Cities Home Buyers
The Plymouth Housing and Redevelopment authority (HRA) offers programs to help renters purchase their first home.
This is how it works:
- This is a zero interest deferred loan of up to $25,000, with the Plymouth HRA holding a second mortgage on the property.
- Financial assistance can be used for up to 50% of the required down payment, 100% of allowable closing costs up to $5,000 and for reduction of the mortgage principle.
- Repayment of the loan is required if the home is sold or no longer homesteaded within the first 30 years of ownership. After 30 years, the loan becomes due and payable.
- Applicants will be accepted on a first-come, first-serve basis.
- Program guidelines and income requirements are subject to change.
It sounds like there are a lot of catches, and there are. If you want more information, please call the City of Plymouth at 763-509-5413. Then, call me and we’ll chat about your new dream home in one of the best places to live in the U.S.!
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Minneapolis Area Real Estate Trends for 2009 Revealed by Mark Allen, CEO of MAAR
January 13th, 2009 Categories: Mortgage Stuff, Real Estate News, Twin Cities Home Buyers, Twin Cities Real Estate Economy, Twin City Sellers
The market is what you make of it. There are always opportunities in every economic situation. History demonstrates that real wealth is made in the worst of times.
I read that somewhere and copied it. I keep it in my desk drawer whenever I start feeling down about the recent real estate market.
Yesterday was a learning day for me. I was fortunate enough to hear Mark Allen, CEO of the Minneapolis Area Association of Realtors, give us Realtors his take on the market for 2009 and beyond. The following are a few key points made by Mark. Read the rest of this entry »
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Move Over, Folwell (and a Few Other Neighborhoods in North Minneapolis), Hawthorne’s Got a New Plan!
January 11th, 2009 Categories: Minneapolis Home Buyers and Sellers, Mortgage Stuff, North Minneapolis, Real Estate News, Twin Cities Home Buyers
How many times do we hear of blighted neighborhoods trying to revitalize themselves only to fall back into the “we tried this and it didn’t work” mentality?
We may hear it again from some naysayers, but this time there is a VERY ATTRACTIVE incentive program that should raise a few eyebrows! The Hawthorne Neighborhood in North Minneapolis has just voted on the creation of a new program to assist home buyers with a purchase of a home in Hawthorne. It’s called the “Hawthorne Advantage”.
Here are the details without going into too much detail:
- You must live in the home after purchase (owner-occupied).
- 3% of the purchase price of the home will be granted to you and subtracted off the price of the home on the HUD-1 statement at the closing.
- An extra $1,000 will be granted to you if you purchase a previously foreclosed property.
What’s the downside? You will have to pay back the loan if you do not stay in the home for a minimum of five years to begin to “pay back” the loan up to ten years. After the ten years, the lien is removed and the loan is 100% forgiven. The idea is that you will want to stay and commit to the betterment of this community.
This program is brand spankin’ new, so it is not up on the Hawthorne website yet. Now is the time to start buying those diamonds in the rough in Hawthorne. Interest rates are at record lows, you can use grant money from the City of Minneapolis and, now, the Hawthorne Neighborhood’s Hawthorne Advantage.
Take advantage of it!
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The Secret to Marketing a Home on the Internet
December 31st, 2008 Categories: Minneapolis Home Buyers and Sellers, My Listings, Real Estate News, Twin Cities Home Buyers, Twin City Sellers
As a Realtor, I need to be one step ahead of my competition and always on the ball when it comes to marketing my listings. It is a known fact that 87% of potential home buyers now cruise the internet real estate websites before they call their Realtor. I make sure my listings are in tip-top marketing shape before I present them to the world.
One way that my clients can find out what’s been happening out there in the market besides actual showings of their home is to have me send them some statistics from these websites. We call these “hits”.
I do this every Monday so that it gives them an idea of the traffic that visits their actual listing on line. Since I supply many pictures of the interior of the home, people will “stop by” and take a closer look at the property. I also supply a bold headline and other various marketing tools on Realtor.com. Click here to see this home on Realtor.com so that you know what I mean.
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Flipper Girl’s Latest North Minneapolis Property - Ya Gotta See This!
December 30th, 2008 Categories: Cool Girls, Minneapolis Home Buyers and Sellers, North Minneapolis, Real Estate News, That Flippin' House, Twin Cities Home Buyers
Here she comes again! My talented client, Jennifer (aka Flipper Girl), has just purchased her latest diamond in the rough to transform in to a thing of beauty. This home is your typical craftsman style with natural woodwork, hardwood floors and a nice, big upstairs for a dreamy master suite.
Here are some more before pics…
This is actually the “after” pic. The “before” pic was the one with the Aldi grocery bag on the floor. Here’s a link from Johnny Northside’s website that shows all of the trashy pics.
This will end up being the dreamy master suite. I think Jennifer is going to remove this wall on the right to make for a larger space.
That’s it for now! Just a little teaser of things to come. Stay tuned!
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Just a Little Christmas Present From Todd Bracher at Bell Mortgage, a “Best of 2008″ Inductee!
December 19th, 2008 Categories: Cool Guys, Mortgage Stuff, Real Estate News, Twin Cities Home Buyers
We’ve all just about have had it with the predatory lending fiasco. What with the TJ Waconia scandal, BC lending, etc. it’s time to focus on what is right in the world of home buying.
Yes, it’s going to be tougher to buy a home!
You’ll have to work a little harder and save a little more and maybe go to Mom and/or Dad for a loan. If you are ready to buy a home and have done the right things to get yourself to this point, read on!
Here’s a message from Todd Bracher, a top-notch mortgage lender at Bell Mortgage that I have recommended to my first time home buyers. He is reliable and trustworthy…a great combination! he also is on my
“We have had a incredible week in the markets with rates reaching 4.5% earlier in the week. We have come up off of those lows but remain just under 5% currently.
The market is perfect for those first time home buyers. Bell Mortgage has always had a purchases come first mantra. We will never lose sight of our bread and butter Realtor clients.
When the refinances disappear again, so will the brokers that concentrated only on the feeding frenzy that low rates can create in our world.
I will be working through the Holiday Season so if you are in need of any mortgage related help please do not hesitate to call.
Have a HAPPY HOLIDAY SEASON!!!
Todd C. Bracher
Mortgage Banker-Bell Mortgage Trusted Since 1880
Office: 952-591-1880
Cell: 612-221-4677
Fax: 952-591-9060
www.toddbracher.com<http://www.toddbracher.com/>”
Thank you, Todd, for all you’ve done for me and my clients this year! You are on my “Best Of 2008″ list. You rock!
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