Minnesota Short Sale Resource

The Worker, Homeownership, and Business Assistance Act of 2009 extends the deadline for qualifying home purchases from Nov. 30, 2009, to April 30, 2010. Additionally, if a buyer enters into a binding contract by April 30, 2010, the buyer has until June 30, 2010, to settle on the purchase

Home sale deals in Minnesota are up 16% from 2008 according to a recent Star Tribune article.  44% of these sales are represented by distressed sales, either short sales or foreclosures - this percentage is down from 60% earlier this year.  From a buyer and a seller side, you want experienced short sale agents to represent you through this complicated process.  Contact the Minnesota Short Sale Specialists today for a consultation.

Home sales are on the rise in the Twin Cities.  This is good news for sellers, however a good portion of these sales are foreclosures or distressed sales (short sales).  If your home’s value is below what you owe on your mortgage and you have experienced a recent hardship, a short sale is an option for you.  Contact us today to discuss the Minnesota Short Sale process.  We would like to help!

According to a Star Tribune article, home prices in the Twin Cities have dropped 20% from January 2008.  This is great news for Minnesota first time home buyers.  This is the perfect market for buyers with high inventory of Minnesota short sales or Minnesota foreclosures, record low interest rates, and the Federal First Time Home Buyer Tax Rebate / credit of $8000 until December 1, 2009.

For Homeowners, this is a difficult time to sell or refinance your home because homes aren’t holding their previous values.  If you find yourself struggling to make your mortgage payments, it is important to discuss your options to avoid foreclosure.

We are here to assist, contact us today.

Broker Price Opinions also known as BPO is a critical component to the Minnesota short sale.  As a Minnesota short sale seller or a first time home buyer purchasing a Minnesota short sale, you want your real estate agent closely involved and present when a BPO is performed on your property.  The lender/bank uses the BPO in determining whether to accept or reject your short sale request.  A recent Star Tribune article provides further details on the BPO and its use for Minnesota short sales and Minnesota foreclosures.

Contact us today for more information.

According to a recent Star Tribune article the housing market is picking up in the Twin Cities metro area.  However, 60% of all pended sales are lender-mediated transactions (Minnesota Short Sale or Minnesota Foreclosures).  Great news for first time home buyers in Minnesota.  It is the perfect time to take advantage of the inventory of homes below market value and the record low mortgage interest rates below 5%.  The limited time federal first time home buyers tax credit of $8000 has given many Minnesotans the incentive to buy their first home.

We are hosting free Minnesota first time home buyers workshops / seminars.  We have a seasoned mortgage lender as our guest speaker that can answer any questions you have about the different mortgage programs:  FHA, FHA 203K Rehabilitation Loan, Conventional, etc.  Please  contact us  for more Minnesota first time home buyers information or to find out when we are hosting our next Minnesota first time home buyers workshop / seminar.