Minneapolis – St. Paul Real Estate Information
The first-time home buyers tax credit has been extended. It also has been expanded to include existing home owners. First time home buyers can still get up to $8000 and existing home owners can get up to $6500.
For existing home owners, you must have used the current house as primary residence 5 of the past [...]
Posted on November 6th, 2009 by Steve Hong
Filed under: Buyers, Featured, First Time Buyers, Uncategorized | No Comments »
This is one house in South Minneapolis that you don’t want to miss! So much has happened here that it is easier to list the things that have not been updated. But since I’m using recycled electrons for this webpage, I’ll try to list everything that has been updated.
Let’s start off with the exterior. From [...]
Posted on October 5th, 2009 by Steve Hong
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I have written previous articles defining short sales and foreclosures. I will now compare the consequences to a homeowner of a foreclosure versus those of a successful short sale.
Future Fannie Mae Loan–Primary Residence
A homeowner who loses a home to foreclosure won’t be eligible for a Fannie Mae-backed mortgage for 5 years.
A homeowner who successfully negotiates and [...]
Posted on May 12th, 2009 by Steve Hong
Filed under: Featured, Sellers | No Comments »
These days, you can’t read the headlines without noticing that there are many foreclosed homes around the country. Since it is so prevalent, we thought it would be best to offer a brief explanation of how the foreclosure process works. First of all, a little clarification. ”In foreclosure” is the process that leads up [...]
Posted on April 30th, 2009 by Steve Hong
Filed under: Featured, Sellers | 1 Comment »
These days, in real estate, the term short sales is frequently heard. What is a short sale, you may wonder. Well, let me explain it to you by giving you an example. Let’s say you bought a house two years ago with a mortgage of $200,000. Let’s say you’ve paid of $5,000 of the [...]
Posted on April 28th, 2009 by Steve Hong
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You’re selling your house. It’s a big process, and you aren’t sure where to start. You need to price it correctly; you need to get it in tip-top shape for all the showings; you need to fix up a few things. Now, many people think of the last item last. In fact, many people put [...]
Posted on April 28th, 2009 by Steve Hong
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This is Minna here, and I have some exciting news. There is an old adage that says, and I paraphrase, that nothing in life is free. While this is mostly true, I have found an exception. Remember when I blogged about the $7,500 tax credit, which was more like. a zero-interest loan? Well, the government [...]
Posted on March 12th, 2009 by Steve Hong
Filed under: Buyers, Featured, First Time Buyers | No Comments »
That should get your attention. The government is giving cash to home buyers! Now, there are some stipulations, but if you meet the criteria, you can get $8,000!
This is part of the Economic Stimulus package that was signed into law this week by President Obama. First-time home buyers can claim an $8,000 tax credit on [...]
Posted on February 20th, 2009 by Steve Hong
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How do people search for a new home? I am a tech person, so I use technology for almost everything. However, I realize that many people may not want three different maps of the houses on their wish list, nor want to look through a hundred ‘just for you’ houses that really may or may not [...]
Posted on December 12th, 2008 by Steve Hong
Filed under: Buyers, Featured | No Comments »
Minneapolis Real Estate Market Update
As you know, the Minneapolis real estate market for 2007 was in flux. America, as a whole, was experiencing what felt like a recession, even if it didn’t fit the technical definition of the term. The fundamentals of the economy may or may not have been strong, but the housing [...]
Posted on November 6th, 2008 by Steve Hong
Filed under: Featured, Market Trends | No Comments »
Minneapolis, MN