Warren Buffet, has made a few bucks in his day…perhaps he’s right…buy all you can, there’ll never be another market like what we have now.

Over the past several months, we have been saving both home owners and investors, thousands of dollars on their purchases.  Add to that the

present day mortgage rates…as low as 3.45%, and how can you lose?  Thing is…homes under 125k are just flying off the market.

The foreclosure picture does project many more to come, however…if you can buy, don’t wait around for that perfect deal.  Chances are it’ll

be gone before you get there.  There’s plenty of inventory still on the market.

Short Sales, while the biggest banks promise quick turns, are turning slower now that they did a few years ago.  Having to wait for an answer

on your offer, can take three months or more.  And…while waiting, you may pass up something better?  But…take heart, you can always put

in your offer and keep looking.  If a better deal comes along, you can withdraw the offer you have not had an answer on, you’re in the driver’s

seat!

Now, if you have wanted to sell, but thought you could not get close to your desired price, talk with us today.  The best homes are still selling

at decent prices, not everyone wants a “fixer-upper.”  Find out what the possibilities are, your home may be worth more than you know?

When we list your home, it goes into all other Realty web sites…about 2,000 or more!  That’s the kind of exposure you want and deserve.

Along with that, we offer a marketing campaign that will get you sold fast and at a great price.

When you bought a home in about 2005, you’d likely be paying a 6% or better rate.  So if you had a 250k mtge = $1,500 per month.  At a safe bet

rate for you today…say 4% = $1,193, or you save $307 per month.  The market offers you today, an opportunity to score a win…don’t stand and

watch, get in the game.  You’ll be glad you did.

By the way, if we do find you a great buy on a distress home, one that needs lots of work, work you don’t have the skills, talent, ability nor time

to fix,  you can profit from the FHA 203k finance program, whereby, the bank will lend you the money to get the home in the condition you’ll

be happy with.  There’s even more for you…programs that will provide a fit for your particular circumstances.

Whether you’re buying, selling or just have questions, give us call…I know we can help.  Heck…can’t hurt to talk, right?

You can reach us at 651-770-5000.  Call today, let’s discuss your Realty goals.

Ed

Easy now...they aren't all like this!

Some of the best buys though, are much like the picture, beat up, rough to work on and in disrepair.  On the other hand, most are very good buys!  If you lack construction skills, no worries, there’s always the FHA 203k finance program; you can hire a certified contractor to do the work and add the cost into your loan…sweet deal, sweet as it can get!.

While the market threatens to continue on a down-slide and rates are the lowest ever, many would be buyers are still fighting lenders about their qualifications.  If that applies to you…know this; you have to have a practiced, skillful advocate to get you approved.  This is something we do all the time.  When you land here, you benefit from our years of experience and connections with outstanding Loan Officers.  We’ll get you to the sources you need.

Buyers are getting absolutely remarkable deals and terrific rates.  Buy now if you can!  don’t wait, thinking you save if prices continue to drop.  Prices will continue to drop but distress homes are disappearing fast too.

It was surprising to see that Lowes, posted a 44% earnings drop in Q3.  With all the foreclosure homes being repaired, I’d expect to see the supply chains showing huge sales and profit increases.

Fannie also posted a Q3 loss of 51.1B.  Wow!  It plans to get 7.5B from the govt ’cause it needs to pay the govt dividends for money it borrowed before.  It owes 2.5B for dividends.  Huh?  Borrow another 7.5B so it can pay 2.5B out?

Then…there’s the FHA, the agency that insures loans for the banks.  This agency pays a % of loans that default, back to the bank.  Nice…’cause if they didn’t do this, the banks would make even fewer loans.  But…who’s watchin the cash register?  Do you know about the FHA’s “Infinite Budget Authority?”  No?  You should…you’re involved, if you’re an American tax payer.  It’s really cool, here’s how it works: If the FHA messes up, you know, runs out of dough, they can draw on funds from the Treasury Department.  So who, you ask, monitors this activity?  What arm of the govt has to approve these draws?  Well…no one…they can just take the money, no congressional appropriation needed.  Wow! Wow!  Anyone know where a guy can get a small business loan like this?  No worries though.  Financial pundits expect the FHA will lose as much as another 50B in the coming years.  Nice to have this drawing account in place, ‘eh?

At least there’s an uptick in commercial building, and uptick to keep pace with the demand for more rental housing, as people continue to spill out of their homes via foreclosure.  Think it can’t get worse?  What do you think?  Drop us a line on all this, we’d love to hear from you!

Fall 2011 Market Update
Now is an exceptional time to buy a home in St Paul - Highland Park. Low rates within a Buyer’s market make a home purchase a great value! Buyers with a credit score of 600+, can buy in this market depending on other lender parameters.

Call now for more information at 651-248-9742 / 952-210-6962.

Buyers’ or Sellers’ Market: More buyers than sellers
Average Time on Market: 90-120 days
Market Trend: Increasing
Housing Inventory: Good supply - Some Prices
Average Home Price: $300,000 - View Graph Trend
Compared to Last Year: Down 5-10%
Best Selling Price Range: $350,000 - $399,000
Worst Selling Price Range: $1,000,000+
Prices As % of Asking Price: 90-95%
Multiple Offers: No
Greatest Activity: Repeat Buyers
Buyer Activity for past 90 days: Increasing
Seller Activity for past 90 days: Increasing
Financing Available For Buyers: Yes
Home Prices for the past 90 days: Decreasing
% of Foreclosures Listings: 10-15%

Reason to Buy/Sell
With slightly higher prices (1%) with increasing inventory provides buyers good selection; combine that with competitive interest rates, creates a perfect time to buy in St Paul - Macalester-Groveland! With nearly 14% of all active listings in some form of foreclosure, provides substantial savings in St. Paul - Macalester-Groveland neighborhood, for those that want to invest in remodeling many of the foreclosure properties.

Housing Hot Spots
The hotspots in St. Paul points to Highland Park, Macalester, Groveland and a few surrounding neighborhoods: Summit Hill & Merriam Park.

Fall 2011 Market Update

Now is an exceptional time to buy a home in St Paul - Highland Park. Low rates within a Buyer’s market. makes a home purchase a great value! Buyer’s with a credit score of 600+, can buy in this market depending on other lender parameters.

Call now for more information at 651-248-9742 / 952-210-6962.

Average Home Price: $275,000
Average Price Compared to Last Year: Up 3%
Average Time on Market: 127 days
Best Selling Price Range: $200,000 - $249,000
Worst Selling Price Range: $800,000 - $1,000,000
Prices As % of Asking Price: 93%
Existing Home Prices for past 90 days? Increasing
Buyers’ or Sellers’ Market Buyers Market
Buyer Activity for past 90 days: Increasing
Seller Activity for past 90 days: Increasing
Multiple Offers? No
% of Home Inventory are Foreclosures? 45-50%
Housing Inventory: Good supply - Most Prices
Greatest Activity: Repeat Buyers

Reason to Buy/Sell
With slightly higher prices (3%) with increasing inventory provides buyers good selection; combine that with competitive interest rates, creates a perfect time to buy in St Paul - Highland Park! With nearly 50% of all active listings in some form of foreclosure, provides first time home buyers to come into the St. Paul - Highland Park neighborhood at the $125K-200K price range, which is typically beyond the reach of an average family. Newly remodeled homes are coming on the market, as investors are buying the lender owned properties, remodeling and selling the home within 6-months.

Housing Hot Spots
The hotspots in St. Paul points to Highland Park, Macalester, Groveland and a few surrounding neighborhoods: Summit Hill & Merriam Park. When considering investment properties, East St. Paul presents sound investment property opportunities that can deliver a return on investment. There is an active inventory of homes at $25K-$50K, allowing for remodeling investment and resale for profit. When shopping these homes, keep a keen eye out for those

RealtyTrac.com, the leading authority on tracking and analyzing foreclosures, reports for October 2011, that Minnesota is experiencing its share of foreclosures with 18,827 foreclosed homes across the State.

When breaking down Minnesota foreclosures by County, the 1,097 new foreclosures in Hennepin County, are two thirds that of Ramsey County experiencing 325 new foreclosures. From September ‘11 report to October ‘11, the new foreclosures in Ramsey County nearly doubled; whereas, Hennepin County foreclosures have risen only 12%. The Twin Cities account for for nearly 12% of all new foreclosures in the state.

Within Ramsey County, the ranking of the top communities experiencing double digit foreclosure activity includes: Phalen & Daytons Bluff, Central St. Paul, Battle Creek, Maplewood, Mounds View, White Bear Lake, New Brighton, Roseville and West 7th.

Within Hennepin County, the top 10 ranking communities experiencing double digit foreclosure activity includes: Folwell, Jordon, Powderhorn, Richfield, Columbia Heights, Brooklyn Park, Brooklyn Center, New Hope, Crystal and North Minneapolis.

In comparing percentage rate of foreclosure units in St. Paul, Ramsey County and Minnesota to that of the Nation, each falls below the National rate of 18%. However, due to the near doubling of foreclosures in Ramsey County, St. Paul’s 15% of foreclosed units is 2% above Minnesota percentage of 13%.

In comparing percentage rate of foreclosure units in Minneapolis, Hennepin County and Minnesota to that of the Nation; Minneapolis and Hennepin County fall well above the National rate of 18%, with 23% and 22% respectively. As a result, both are 1-2% above the Minnesota 13%.

For October 2011 reporting, the average sales price of a foreclosure is $26,869 less then that of the average sales price of traditional home, not in foreclosure within Minnesota.