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Andy Burton

Twin Cities Home Sales go up for first time since the Tax Credit

02-14-11
Andy Burton

Minneapolis, Minnesota (February 11, 2011) - Pending sales increased 3.7 percent from January 2010 to land at 2,838 for January 2011. That's the first year-over-year increase since the tax-credit salad days of April 2010.

Prices slid during January 2011, as the median sales price decreased a heavy 10.8 percent from January 2010 to $140,000. A larger share of homes sold this January were foreclosures and short sales compared to a year ago, which explains part of the decline. Traditional, nondistressed properties actually saw their Median Sales Price increase by 1.9 percent from a year ago to $201,500.

"Distressed homes made up more than half of the homes sold locally in January," said Brad Fisher, President of the Minneapolis Area Association of REALTORS®. "Buyers tend to shop for value during the winter months, equating to lower prices, while traditional sales begin to warm up with the spring thaw."

Challenging conditions for sellers are evident in growing market times and stronger price reductions before sale. The Average Days on Market Until Sale of 146 in January 2011 is a 9.4 percent increase from January 2010, and the Percent of Original List Price Received of 87.9 is the lowest number on record.

With interest rates remaining low and prices showing no signs of rapid rise, affordability is soaring. The Housing Affordability Index for January of 241 is a new record and indicates extremely favorable conditions for buyers.

The supply of homes is growing. Inventory increased 14.0 percent from a year ago to 23,880 units, which amounts to 7.6 months of supply. This is in the face of a 15.6 percent decline in the number of new listings coming on the market. The slowed sales seen in the second half of 2010 have led to short-term increases in supply.

"The economy remains the elephant in the room, and housing is not immune to market dynamics," said Cari Linn, President-Elect of the Minneapolis Area Association of REALTORS®. "Nevertheless, we're encouraged by the sales bump in January and look forward to a strong spring."

All information is according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc. MAAR is the leading regional advocate and provider of information services and research on the real estate industry for brokers, real estate professionals and the public. MAAR serves the Twin Cities 13-county metro area and western Wisconsin.

###referring site:http://www.mplsrealtor.com/inside_newsroom_news.aspx

Owning vs. Renting Advantages of Home Ownership

02-02-11
Andy Burton

Owning vs. Renting
Advantages of Homeownership

  • EQUITY - You can`t build equity in an apartment or rental property. ~ In your own home you CAN.

  • TAX DEDUCTION - Your rent payment is not tax deductible. ~ The interest portion of your mortgage payment could be tax deductible.*

  • FIXED PAYMENT - Your rent almost always increases when your lease is renewed. ~ With a fixed-rate mortgage, the principal & interest payments never go up.

  • PRIVACY - Your apartment, shares the walls, ceiling and/or floor. ~ In a single family home, you have privacy.

  • PRIDE - An apartment can feel only like a place to stay. ~ Owning your own home gives you pride of ownership.

Call Me Today.

Andy Burton, Mortgage Advisor ~ www.andyburton.biz

(612) 562-6456| (715) 760-0259 | andy@andyburton.biz

1811 Weir Drive Ste 145, Woodbury, MN 55125 | NMLS# 285599

Equal Housing Lender. Information is subject to change without notice. This is not an offer for extension of credit or a commitment to lend.
*Consult your tax advisor.

NO money down home, 100% financing. USDA Rural Development Loans, Zero Down!!!

01-29-11
Andy Burton

Do you want to buy a house
with no money down?

USDA Rural Development can help you!

Advisros Mortgage LLC and USDA Rural Development have teamed up to provide 100% financing to individuals and families who buy a home in a rural area.

  • Zero down payment required

  • No mortgage insurance needed*

  • Closing costs payment can come from any source

  • Easy qualification criteria

  • Not limited to first time homebuyers

  • Income Limited

  • Available in Hudson, River Falls, New Richmond, Roberts, Hammond, Ellsworth, Prescott, and call on other locations in Western Wisconsin!

The USDA Rural Development loan program has helped many home buyers just like you. This is not just a first time home buyer loan.

Andy has personally originated Millions of dollars in USDA Guaranteed Rural Housing Loans and Advisors Mortgage is a Platinum level lender with the USDA. The highest achievement a lender can achieve.

I am originally from Hudson, Wi. I have lived in Hammond and Houlton, WI. Most of my family live in Western WI. Even though my office is in Woodbury, MN I still work with a lot of Wisconsin clients and Realtor partners.

To see if you qualify, Call today.

Andy Burton, Mortgage Advisor ~ www.andyburton.biz

(715) 760-0259 | andy@andyburton.biz

1811 Weir Drive Ste 145, Woodbury, MN 55125 | NMLS# 285599

Equal Housing Lender. Information is subject to change without notice. This is not an offer for extension of credit or a commitment to lend.
*No mortgage insurance is required. A USDA funding fee is financed with the loan.

Andy Burton Woodbury MN Home Loan Expert

01-28-11
Andy Burton
We Finance Homes in Minnesota and Western Wisconsin. First Time Home Buyers, FHA Loan, VA Loan, USDA Loan, New Contruction Loans, Refinance Loans. St. Paul, Woodbury, White Bear Lake, Stillwater, Edina, Eagan, Oakdale, Hudson, WI Conventional Financing.

Pre-Qualification vs. Pre-Approval

01-28-11
Andy Burton

Pre-qualification vs. Pre-approval

Identify your property price range, and strengthen your bargaining power by understanding the difference between these two buyer tools.

How do I know what price range to look in, and how do I make sure my offer is accepted?

These are two of the most commonly asked questions from first-time and experienced homebuyers alike. One of the best places to start is by getting pre-approved by a lender upfront in the process. Not only does it give you peace of mind knowing your price range is already pre-approved by the lender, but strengthens your position at the negotiating table, especially in a multiple offer situation.

Some lenders offer pre-qualifications and pre-approvals. Here`s the difference:

Pre-Qualification

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Provides a ballpark estimate of your buying power.

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Is based on summary information you provide on your income and assets.

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Requires a satisfactory review of property, financial documents and program requirements to issue final approval.

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Is offered by most lenders.

Pre-Approval

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Provides proof to real estate agents and sellers you`re pre-approved for a specific loan amount.

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Is based on verification of your income, credit and assets.

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Requires a satisfactory appraisal and title review. No change in financial condition for final approval.

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Is offered by us as a service to you at no cost before you find a home.

To get pre-approved call:

Andy Burton, Mortgage Advisor ~ www.andyburton.biz

(612) 562-6456| (715) 760-0259 | andy@andyburton.biz

1811 Weir Drive Ste 145, Woodbury, MN 55125 | NMLS# 285599

Equal Housing Lender. Information is subject to change without notice. This is not an offer for extension of credit or a commitment to lend.