TODAY in the Twin Cities Market Key Statistics that are updated by the Minneapolis Area Association of Realtors Go Now o Weekly Market Activity Report o Monthly Market Indicators o Residential Real Estate Activity Report o Housing Supply Outlook
There is an array of Energy Tax Credits that can make home improvements pay off in cash. Details
It is easy to find Down-Payment Assistance for lower-income and first-time home buyers. Search online for “down-payment assistance programs.” and your "city", "county" or "state." Examples
Interactive Analytics for the Twin Cities Housing Market
The Minneapolis Area Association of REALTORS® is making housing market data easier than ever to explore and dissect. TRY THE TOOL.
Buyers will be pinched by FHA's new Rules
Summary of FHA Rule Changes
Decreasing its Upfront Annual Mortgage Insurance Premium to 1.00 percent from 1.50 percent effective October 4th, 2010.
Increasing the Annual Mortgage Insurance Premium from 0.5% to 1.5% on loans with a down payment of 5% or more. The Annual Mortgage Insurance Premium on loans with less than 5% down payment increases from 0.55% to 1.55%.
As of October 4th, 2010, loans with a down payment equal to or greater than 5% will be charged an Annual Premimum of 0.85% and loans with a down payment of less than 5% will be charged 0.90%.
As of April 18, 2011, loans with a down payment equal to or greater than 5% will be charged an Annual Premimun of 1.10% and loans with a down payment of less than 5% will be charged 1.15%.
Did You Know:
This is an Excellent Market for First Time, Move Up and Investment Home Buyers. Take advantage of this opportunity to sell low but also to Buy Low.
Review and cleanup Your Credit Report if you plan a purchase within the next year. Your credit rating is more critical now than it has ever been.
Only 3.5% down payment is required to purchase a home with a FHA mortgage.
Short Sale and Bank Owned Properties can provide immediate equity opportunities.
If you would like guidance and consultation on these topics, please contact me and I will be glad to help you.
Explaining the Beginning of the Mortgage Mess (pdf)... Go Now
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