Environmentally-Friendly Victorian Home to Be Showcased At Minneapolis/St. Paul Home Tour
The Minneapolis Advantage Loan Program - Available to Everyone, Even Luxury Homes
The Minneapolis city council has recently approved a new loan program for buyers who purchase a single-family dwelling, or duplex, in Minneapolis neighborhoods that have experienced higher than normal levels of mortgage foreclosures. The program offers a $10,000 zero percent interest loan that is forgivable over five years to anyone buying a home in which they will live in these key neighborhoods.
Minneapolis neighborhoods who could benefit from this program include Camden, Weber, Folwell, and McKinley, as they are offering an additional $4000 for homes bought in their areas. This brings the total offered to $14,000, and the city of Minneapolis is looking for other areas that will partner this initiative and offer incentives to home buyers.
The funds can be used for a down payment, or for closing costs. They can also be used by the buyer to offset any repairs/improvements that will be done to the home. Better yet, ANYONE can take advantage of this offer as it is not based on any home price!
So if you are thinking of buying in Minneapolis this year, make sure you ask your Realtor and lender about the Minneapolis Advantage Loan Program!
It's migration season right now in Minnesota. Is it any wonder that water fowl love breeding here, what with all the lakes we have in the state? So far this last week, I have seen various species of ducks, geese, and cranes. Below are two that have visited our pond just in the last few days.
Hooded Merganser
One of the things I most love about Minnesota is the attention to nature. Throughout Minnesota you will find natural preserves, lakes and ponds, walking trails, bird clubs, and more. The wildlife does help out by showing up, but it is really great to live in an area where I can educate my kids about animals, nature, and protecting the environment.
The amount of days that a home sits on the market does not necessarily have anything to do with the home for sale. Many times, it has to do with location, and even the amount of competition from other neighbors. Take for instance, Minnestrista, Mound, and Orono, which have the largest amount of homes for sale this year. They also have a relatively high number of days of the market (DOM).
At the same time, you could look at Orono with its high DOM, and also take into consideration that the average selling price in 2007 was almost $2 Million, also contributing to the reason for a high DOM.

On Lake Minnetonka, there are many small towns that surround the lake, and each has homes that vary in price. Greenwood for instance, is relatively small, and only had four homes sell for all of 2007, at an average sales price of $1.1 Million. Spring Park, on the other hand, has only two homes for sale and barely 2000 residents, but the average sales price is just a little above $600,000.
As you look at the average days on the market for Lake Minnetonka, the one thing to remember is that most of these homes are fairly expensive. And as we all know, the higher the price, the longer is takes to sale.
One thing that surprises buyers that come to the Twin Cities to look at homes is the house etiquette they must abide by. The number one rule is that upon entry, buyers and agents must remove their shoes before they venture further into the home.ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved