Are you looking for Stillwater homes for sale? Recent MLS statistics show that transactions are up significantly over last year. Whether you are a Minnesota first time home buyer, moving up from a previous home or an investor, today is a great time to be looking for a home in Stillwater. With a combination of record low interest rates and reduced property values, housing payments haven’t been this affordable in decades. You will want to understand the 3 basic types of properties listed for sale.
Foreclosures often represent a great value for today’s home buyer. When a bank owns the home they want to sell it quickly as they are responsible for maintenance, utilities, and property taxes There is a lot of competition from home buyers today when a foreclosure comes up for sale at a good value. It is not uncommon to see multiple offers on a Stillwater foreclosure, sometimes driving the price above the list price.
Short sales can be a good opportunity for home buyers who do not need to move within the next 6 months or so. When a seller has a home on the market as a short sale, this means they will not be able to pay off the entire loan they have on it when they sell the home. This means that after they receive your offer you will need to wait while the seller negotiates with their bank to forgive a substantial part of their debt.
Traditional sales from a home seller represent at least half of the homes on the market today. These properties are often great values in part because there has been a property owner there to take care of any the necessary maintenance on the home. A traditional home seller will tend to be more apt to pay all of your closing costs as well. If you are looking for a well-maintained home where you can move in quickly with great financing terms, a traditional home sale is the way to go.
Stillwater, MN is located in Washington County and is a pleasant twenty minute commute from St. Paul. Tucked in by the St. Croix River Stillwater is often referred to as the birthplace of Minnesota. While traditionally a popular day-trip destination to enjoy its historic features, there has also been growth in new housing on the outskirts of the city in recent decades. Whether you are looking for an older home or new, Stillwater is a great place to consider home. If you want to learn more about buying Stillwater please call me to start your search.
The first step in the home buying process is to get preapproved for mortgage financing. This means that you meet with a local mortgage lender who will review your financial situation. In this discussion they can tell you what types of MN first time buyer programs you might be qualified for. This critical first part can be done over the phone and most lenders will arrange to talk with you when you're off work, even in the evenings or weekends.
Casey Anderson
Sales Executive, Licensed Realtor in Minnesota
IBR Realty
caseyanderson@ibrrealty.com
Cell 651-245-1820
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities.
Many Plymouth home sellers are faced with the problem of owing more on their home loans than what their property is worth in today's market. The fact is that in order to sell your property in the Minnesota real estate market today you need to pay off your mortgage in order to convey clean title to your buyer. Unless you want to arrange with your lender sell your home on a short sale, this means you will bring money to the closing in order to pay off the remaining balance that you owe. Many home sellers who need to move now are considering the possibility of making their current home available to rent with the hope of buying a new house.
The good news today is that with the tougher mortgage market, rents have gone up significantly. Renters find that they are competing with each other to rent out your home as their is a shortage of quality rentals available today. Many home sellers are finding that they can more than cover the expenses for owning the home with the increased amount of rents.
The goal, of course, is to rent the current home out long enough to allow the Plymouth real estate market to recover in terms of values. Hopefully within a few years the value of your rental home will rise sufficiently to sell it for enough to pay off the mortgage. The key to accomplishing this is to see if you will qualify for a new mortgage if you have rented out your current home.
Lenders have specific guidelines to follow for those Plymouth home sellers who will rent out their home to buy another. Depending on the equity that you have in your home, a mortgage lender may or may not consider the rental income you receive when they qualify you for the new mortgage. The only way to know this is to call a lender to get preapproved.
Once we meet to discuss the value of your old home it is critical that you go through the process of getting preapproved for a mortgage loan. Your MN mortgage lender can help you discover which of the options are best whether renting or selling your current house. The process of mortgage preapproval is free, and if you decide not to proceed, there is no obligation to borrow money. A good mortgage banker will be able to analyze all of the options available to you such as through MN FHA loans, Conventional, VA, or other types of mortgage financing.
If you are planning to buy a home, the City of Plymouth, MN is an excellent Twin Cities suburb to consider. As Minnesota's 7th largest city, Plymouth is located just fifteen miles from downtown Minneapolis and is situated within Hennepin County. But don't just take it from me, Plymouth was ranked by Money magazine as the 11th best place to live in the United States. The city has fifty-three fine parks, an elaborate trail system, and plenty to do for everyone with its well-established recreation programs. Whether you are looking for a first home or your next home, let's get out and search for some great Plymouth real estate.
If you would like to discuss the reality of renting out your current home, please take a moment to call or email me for more information.
Casey Anderson
Sales Executive, Licensed Realtor in Minnesota
IBR Realty
caseyanderson@ibrrealty.com
Cell 651-245-1820
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities.
So you want to buy one of the foreclosures in Eagan? Whether you own a home now or are a Minnesota first time home buyer, you will want to learn the basics before going out to buy. While there are many great values in Eagan foreclosures you should be prepared for how to negotiate your offer.
If you are planning a move to the southern metro you should really consider looking into Eagan foreclosuresCITY. With convenient access to the Twin Cities, the City of Eagan has grown rapidly over the years. As recently as the 1960's, Eagan had only about 3,000 residents, but as of the 2010 census now has over 64,000. This means that most of the housing stock is in newer, well-planned communities. Because Eagan is in Dakota County, qualifying first time buyers might want to check out the Dakota County First Time Home Buyers program. For a taste of what's happening in Eagan, go to their Community Events page.
A bank-owned foreclosure can be a great deal sometimes because the bank owns it and is paying for the maintenance of it. As opposed to a property offered as a short sale, the selling bank has a distinct motivation to get the home off of their books. At the same time, banks who are selling their Eagan foreclosures want to maximize the amount they get out of the property. In the lower price ranges it has turned into a sellers market meaning that many foreclosures sell for well above the listing price! Knowing what to offer for the foreclosure is critical in terms of being successful with your purchase.
There are two big factors to consider when determining how much to offer. The first is how long the property has been on the market and the second is the general property condition. A foreclosure that has just been listed is likely to sell for near the listing price (or even higher), while a bank that has a house that has been on the market a long time might be willing to negotiate for deeper discounts. Also, a listing that is in poor overall condition may not be able to be financed so the bank may reduce the price far enough to attract cash buyers. I can help you determine these factors as we search for foreclosures.
If you are going to be financing the purchase of a foreclosure there are some important things to know as well. First, the listing must be in acceptable condition to the lender n order to qualify for most mortgage loans. Properties that are in poor condition will either require a cash offer or special mortgage financing such as the FHA 203k program. The selling banks will also usually limit the amount seller paid concessions towards the closing costs of your home loan. In most of these cases the selling bank will limit their contribution to three per cent of the selling price. Finally a selling bank will never look at your offer if it includes a financing contingency and never if you do not provide a letter of financing preapproval along with your offer.
The first step in the home buying process s to get preapproved for your home loan. This means that you meet with a local mortgage lender who will review your financial situation. In this discussion they can tell you what types of MN first time buyer programs you might be qualified for. This critical first part can be done over the phone and most lenders will even do this with you when you are off from work.
If you are thinking of buying a foreclosure please send me an email or give me a call. There are many great foreclosure values out there but knowing which one to buy will take some time and expertise. I would very much like to help you in your search for the ideal house!
Casey Anderson
Sales Executive, Licensed Realtor in Minnesota
IBR Realty
caseyanderson@ibrrealty.com
Cell 651-245-1820
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities.
So you want to buy one of the foreclosures in St. Paul? Whether you own house currently or are a MN first time home buyer, you should learn the basics before going out to buy. While there are many great values in Saint Paul foreclosures you will want to be prepared for how to negotiate your offer.
As both the capitol of Minnesota and the county seat of Ramsey County living in the city of Saint Paul is filled with things to do. Popular attractions such as the Xcel Energy Center and the Science Museum of Minnesota make St. Paul a popular destination for both its residents as well as those living in surrounding suburbs. Employment opportunities abound in St. Paul with major employers such as Ecolab, Lawson Software, Gander Mountain, and nearby 3M. St. Paul housing can be especially affordable for first time home buyers through the Ramsey County's First Home program. Residents enjoy popular regional events such as the Minnesota State Fair and the St. Paul Winter Carnival. If you thinking of buying or selling a home in St. Paul please send me and email or give me a call as I'd love to help you accomplish your goal.
A St. Paul foreclosure can be a great value because the bank owns it and is paying for all of the upkeep and property taxes. As opposed to a short sale transaction, the selling bank has a big motivation to get the listing off of their books. At the same time, banks who are involved in selling a foreclosure want to get the highest value they can out of the property. In the lower price ranges it has turned into a sellers market meaning that many foreclosures sell for well above the listing price! Knowing what to offer for the foreclosure is critical in terms of being successful with your purchase.
There are 2 major factors to consider what you will want to make as an offer to purchase. The first is how long the property has been on the market and the second thing is to analyze the overall condition of the home. Saint Paul foreclosures that have just been listed are likely to sell for near the listing price, while a bank that has a home that has been on the market a long time may be willing to negotiate for deep discounts. Also, a home that is in poor condition may not be able to be financed so the bank may have to reduce the price far enough to attract cash buyers. I can help you work through these factors as we search for foreclosures.
If you will need a mortgage loan to buy the foreclosure there are some critcal things to know. First, the listing must be in acceptable condition to the lender in order to qualify for most loan programs. Foreclosure listings that are in poor condition will either require special financing such as FHA 203k or a cash offer. The selling banks will also usually limit the amount seller paid closing costs towards your home loan. In most cases the selling bank limits the contribution to 3 per cent of the selling price, or 2 per cent if you are an investor. Finally a selling bank will never look at your offer if it includes a financing contingency and if you don't provide a preapproval letter along with the offer.
The first step in the process of buying a home is to get prequalified for financing. This simply means that you talk with a local lender who will review your credit, income, etc. In doing so they can tell you what types of Minnesota first time buyer programs you might be qualified for. This first step can usually be done right over the telephone and most lenders will even do this with you when you are off from work.
If you are looking for St. Paul foreclosures please send me an email or give me a call. There are many great St. Paul foreclosure values out there but knowing which one takes some time and expertise. I would very much like to help you in your search for the ideal house!
Casey Anderson
Sales Executive, Licensed Realtor in Minnesota
IBR Realty
caseyanderson@ibrrealty.com
Cell 651-245-1820
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities
Are you thinking of buying your very first home in Shoreview? Many MN renters today are beginning to realizing that the recent rise in rents is making Shoreview real estate more attractive than ever. With the combination of low mortgage rates and lower property values monthly payments on a home in Shoreview may even be less expensive than what you are paying for rent! If you are a MN first time buyerI would definitely enjoy talking with you about these possibilities.
The City of Shoreview is an excellent place to consider if you are thinking about making a move. Situated in Ramsey County is a convenient second-ring suburb just north of Saint Paul. The national magazine Family Circle named Shoreview as one of the Top 10 best places to live in a 2008 article. With seven lakes in the community, including larger ones such as Turtle Lake, Snail Lake, and Lake Owasso, Shoreview offers plenty of recreation opportunities. If you're searching for affordable Minnesota housing consider looking in Shoreview.
There are a wide variety of mortgage loan programs that may benefit today's first time home buyer. The most common are FHA loans which allow you to get into a home with as little as 3.5 percent down. A program designed for American's veterans are known VA loans, a program with as little as zero down payment. If you find a home with Fannie Mae's Home Path logo, you might qualify for their 3% down Home Path loan which does not require mortgage insurance. Your mortgage lender will help find the best program based upon your loan qualifications.
In addition to State of Minnesota down payment assistance funds many local communities offer programs of their own as well. Each of these programs vary in terms of qualifications required to access the funds. Depending upon when you are reading this these programs may or may not be funded so we can check on it when you call me.
For many MN first time buyers the big question is where do I start? Your very first step towards buying your first home is to get preapproved for a mortgage. By doing so you find out how much of a loan you are qualified for so that we can research homes in a price range with comfortable payments for you.
Casey Anderson
Sales Executive, Licensed Realtor in Minnesota
IBR Realty
caseyanderson@ibrrealty.com
Cell 651-245-1820
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities
Full-Time Realtor. Flexible schedule, flexible pricing. My clients range from first-time buyers to experienced investors.
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