Right now in Isanti, Sherburne and Anoka Counties in Minnesota home listings have really thinned out. As I run my searches for my buyers less homes are matching their search. I look in the papers and see a lot of homes in the process of foreclosure but right now options are limited compared to just a few months ago.
This is a great sign for the real estate market. Isanti, Sherburne and Anoka counties were all hit hard by foreclosures. When the spring market came around we saw the market bottom reached (at least for now). Homes started selling within a few days of getting listed. Most homes that are priced well are getting multiple offers and getting bid back up.
Its now a challenge to actually get an offer accepted. Especially if you are not a cash or conventional home loan buyer. The banks tend to shy away from FHA and DVA buyers if they have other options.
I'm hoping that a few more of these bank owned homes get listed soon because I have many buyers out there trying to get a home but its not working with what is currently on the market!
Chuck Carstensen- RE/MAX ASSOCIATES PLUS INC. - Serving Isanti, Sherburne, Wright, and Anoka Counties in Minnesota. Cell: 612-290-3809
How big of a motivator is the $8000 tax credit?
With interest rates being low and prices on homes being low what does the $8000 tax credit do for a buyer? What have your buyers been saying? Is this their number #1 motivator?
My first time home buyers really want this $8000. This is a big paycheck for anyone. Its free money that if that incentive does not change will be gone on Nov. 30th.
Buyers are out there trying to get this money. When a listing comes in at a LOW LOW price from a bank. Promptly 5 -15 offers come in. So that means 4-14 buyers don't get the house and they wait for the next one. Thus, the competition for the $8000 tax credit is massive. Nov. 30th is closer then you think.
Will buyers stop buying when the tax credit disappears? I don't think so. It might make it easier to get an offer through. All in all I feel the tax credit is a big factor in the multiple offer situations we see! How do you feel?
Chuck Carstensen
RE/MAX ASSOCIATES PLUS
612-290-3809
In this market if you wait ONE DAY to see a HOUSE it is now often too late. They get listed and have several offers by the end of the day. So how can a buyer find a house and get an offer accepted.
1) Be prepared to offer $10,000 to $20,000 over the asking price.
2) Be ready to write up an offer right after seeing the house.
3) Be flexible with closing dates.
4) Get approved for CONVENTIONAL FINANCING ... some bank still won't take FHA or VA loans.
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Either that or come back in December.
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Chuck Carstensen is a Realtor with The Discovery Team at RE/MAX; helping buyers, sellers, and investors of residential real estate. He is a Dynamic Life Coach; The Discovery Coach- "Helping you discover your talents, desires and purpose." Carstensen is a speaker and co-author in the best selling book series Wake Up...Live the Life You Love: Your Wake Up Moments (NOW available go to http://tinyurl.com/wakeupmoments).
Need to give my hometown some love! This weekend is the big Browerville Days. Browerville is a small town of under 1000 people but when I comes to this annual event it blows up. People flock from miles around to have a great time!
This year is the all school reunion! So there are even more people expected and more events going on including a Street Dance all three days. See information on the event here: http://www.browervilledays.com/index.php?pr=Events
I will be out at the street dance on Saturday Night (Signing Autographs...just kidding). Most of the rest of the time you will find me at the softball fields playing on the long shot teams to win a game in either of the tournaments.
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Chuck Carstensen is a Realtor with The Discovery Team at RE/MAX; helping buyers, sellers, and investors of residential real estate. He is a Dynamic Life Coach; The Discovery Coach- "Helping you discover your talents, desires and purpose." Carstensen is a speaker and co-author in the best selling book series Wake Up...Live the Life You Love: Your Wake Up Moments (NOW available go to http://tinyurl.com/wakeupmoments).
Prices have fallen significantly around the country in the last couple of years. However, its important to keep in mind that real estate is local. Today I want to focus on Isanti County, MN.
Home prices in Cambridge, Braham, Isanti and surrounding areas have seemed to hit bottom for the time being. In Isanti its possible to get a clean home with 4 br and 2 bath (split entry) for under $120,000. Move right in!
In Braham if you are on the look out you could get a 2 br, 1 ba split entry style home for around $80,000 right now. But remember these homes are selling fast and might not come on the market again for awhile.
In Cambridge you can find a nice 2 Br, 2ba townhome for under $70,000. So with prices like these if you are able to buy its time to get moving. Interest rates are low and first time buyers get up to an $8,000 tax credit!
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Chuck Carstensen is a Realtor with The Discovery Team at RE/MAX; helping buyers, sellers, and investors of residential real estate. He is a Dynamic Life Coach; The Discovery Coach- "Helping you discover your talents, desires and purpose." Carstensen is a speaker and co-author in the best selling book series Wake Up...Live the Life You Love: Your Wake Up Moments (NOW available go to http://tinyurl.com/wakeupmoments).
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