David and Lois Marris

The time is right to buy luxury! If you are a luxury home buyer with a good credit score and the right down payment, now is the time to buy. The market has never been more favorable for the luxury home buyer.

Interest rates are at historic lows, even jumbo loan rates. We have larger than normal inventory of luxury homes, giving the buyer more choices than ever before. Luxury homes are being offered for sale at fantastic list prices, lower than I've ever seen. There are few competing buyers right now allowing for healthy negotiations. Many banks are again offering jumbo loan programs.

It is also a great time to be a "move-up" buyer, selling your mid-range home and moving into your upper tier dream home. The opportunities for the luxury home buyer are better than I've ever seen them.

You can search for Rochester luxury homes at Rochester Luxury Home Search. The Marris' also have a list of luxury homes being offered via private sale. For more information, contact Certified Luxury Home Marketing Specialist (CLHMS) Lois Marris at 507-398-3251 or LoisMarris@EdinaRealty.com.

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David and Lois Marris are top producing REALTORS at Edina Realty of Rochester, MN. Edina Realty is the number one real estate brokerage in Minnesota. For more information regarding Rochester MN Real Estate visit our web page at www.DavidAndLoisMarris.com. Contact information: DavidMarris@EdinaRealty.com, LoisMarris@EdinaRealty.com, 507-398-3251.

A recent Business Week article reports that jumbo mortgage money is flowing back into the home loan market. Certified Luxury Home Marketing Specialist (CLHMS) Lois Marris sees this as great news for the Rochester luxury home market.

Jumbo loans are generally mortgages exceeding Fannie Mae and Freddie Mac's statutory high-cost market purchase limit. This limit in Rochester Minnesota is $417,000. Loans higher than this amount cannot be insured by Freddie Mac, Fannie Mae or the Federal Housing Administration and therefore present more risk to the lender. As such, the jumbo loan interest rate has normally been slightly higher than other home loans. In recent months, lending institutions have also required up to 30% down payment.

Higher interest rates and down payment requirements have significantly slowed sales of upper tier homes.

NEW Hope for the Luxury Market -According to the Business Week article, new money is starting to flow into jumbo mortgage loans. Major banks funding jumbo loans with fixed 30-year rates in the upper five percent interest range. Bank of America, Wells Fargoand ING Group are some of the banks said to be offering jumbo loans again. David and Lois Marris also work with several Rochester private bankers to assist their clients with loans.

Expect stringent qualifying requirements such as a high credit score, significant down payments and be prepared to provide lots of financial documentation. These loans are indeed a higher risk to the lender and many are expected to hold the loans in-house rather than sell them to Wall Street investors.

The time is right to buy luxury! If you are a luxury home buyer with a good credit score and the right down payment now is the time to buy. Interest rates are low. There is a large inventory of luxury homes. Luxury homes are selling at reduced prices. There are few competing buyers. It is also a great time to be a "move-up" buyer, selling your mid-range home and moving into your upper tier dream home.

You can search for Rochester luxury homes at http://www.davidandloismarris.com/luxury-home-search.asp. The Marris' also have a list of luxury homes being offered via private sale. For more information, contact Certified Luxury Home Marketing Specialist (CLHMS) Lois Marris at 507-398-3251 or LoisMarris@EdinaRealty.com.

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David and Lois Marris are top producing real estate agents at Edina Realty of Rochester, MN. Edina Realty is Minnesota's number one real estate brokerage. www.DavidAndLoisMarris.com, DavidMarris@EdinaReatly.com, LoisMarris@EdinaRealty.com, 507-3983-3251.

The Rochester MN spring real estate market is hot! There were 44 homes in Rochester which accepted offers last week. Of the 44 homes, 20 were on the market less than one month!

There are 820 single family homes for sale in Rochester, 2 fewer than last week. More good news -- We are decreasing our supply of vacant homes. Rochester had 298 vacant homes on the market last week which is down 10 from the week prior.

Find properties for sale in Rochester at our web page: www.DavidAndLoisMarris.com.

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David and Lois Marris are top producing real estate agents in Rochester, MN at Edina Realty. Edina Realty is the number one brokerage in Minnesota. You can contact Lois Marris at 507-398-3251, David Marris at 507-254-2291 or DavidAndLoisMarris@EdinaRealty.com.

Edina Realty Home Services recognized David and Lois Marris as a top producing sales team at the 2009 Chairman's, Master's and President's Circle Special Recognition Event on March 19th. The Chairman's Circle Award is given to those agents who achieve the top level of sales at Edina Realty. It is the highest sales recognition award of Edina Realty. In 2009, only 30 real estate agents out of over 1000 received the Chairman's Award.

The recognition event was a delight to attend as we are able to network with other top producing agents while enjoying light refreshments. Ever the opportunists, Edina Realty was wise to take advantage of the gathering and offer a featured speaker, Eugenio J. Aleman, PH.D, Senior Economist and Vice President of Wells Fargo. Dr. Aleman provided an understanding of the recent economic happenings and wise counsel for the upcoming year. He anticipates that the housing segment of our economy will recover, slowly but surely. Dr. Aleman predicts that interest rates will be pushed higher toward the end of 2009 and thus encourages home buyers to take action this year. Interest rates and housing rates are low. A combination he said occurs once every 70 years.

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More information on the Rochester MN real estate market and REALTORs David and Lois Marris can be found at www.DavidAndLoisMarris.com. Contact information: DavidMarris@EdinaRealty.com, LoisMarris@EdinaRealty.com, 507-398-3251.

Copy - News Release from May of 2008

News Release

SALES PROFESSIONAL EARNS INTERNATIONAL DESIGNATION FOR LUXURY HOME MARKETING EXPERTISE

(Rochester, MN) -- Lois Marris with Edina Realty has earned the prestigious Certified Luxury Home Marketing Specialist designation in recognition of her experience, knowledge and expertise in the luxury home market. "Lois Marris is an example of a real estate professional who has worked to develop market knowledge and the special skills and competencies necessary to provide exceptional service in the fine homes and estates marketplace," said Institute President Laurie Moore-Moore, upon announcing Marris' designation. "Affluent buyers and sellers can turn to sales professionals who have this designation and be confident that they have special expertise and experience in the luxury home marketplace."

"I am committed to providing outstanding service to my clients," said Marris "the Certified Luxury Home Marketing Specialist designation is evidence of my ability to meet the needs of affluent buyers and sellers. My membership in The Institute for Luxury Home Marketing also provides me with marketing tools and networking capabilities that benefit my clients."

Marris is an award-winning real estate professional who has gone through special training and met performance standards in the upper tier market. She and her husband have been honored by her company, Edina Realty, with the Chairman's Circle Award for their outstanding sales performance. Lois has been in real estate since 2001 when she began her career by managing an estate portfolio of 70 properties. Lois comes from a rich history in Minnesota real estate with her father and two uncles each having owned their own brokerages. Prior to real estate, Lois was a manager for a Fortune 500 computer manufacturer. Her education is in Computer Science and Business Administration.

Marris and her husband, David, work as a team at Edina Realty. The Marris' are part of the Edina Realty Exceptional Properties group which specialize in service of upper bracket homes. Edina Realty has recognized the Marris' as top producing agents with various sales awards every year since they joined Edina in 2003. The Marris' sold over $30 million in real estate in 2007.

For current information on the upper tier market, contact Lois Marris at 507-398-3251 or e-mail LoisMarris@EdinaRealty.com. To search for luxury homes in the Rochester market, visit www.DavidAndLoisMarris.com.