Minnesota First Time Home Buyers http://www.minnesotafirsthome.com Everything you need to know, when buying your first home Tue, 07 Feb 2012 23:10:23 +0000 en hourly 1 http://wordpress.org/?v=3.3 http://www.minnesotafirsthome.com http://www.minnesotafirsthome.com/wp-content/mbp-favicon/icon_key.gif Minnesota First Time Home Buyers MinnesotaFirstTimeHomeBuyershttp://feedburner.google.com Success Story: Dana http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/HcnekGp23KM/ http://www.minnesotafirsthome.com/buyers/success-story-dana/#comments Tue, 07 Feb 2012 23:07:49 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3146 I first met Dana when she attended a monthly First Time Home Buyer Class, and was surprised to see a woman in her 50’s sitting next to 20-and-30-somethings.  My first thought was that she was there to learn about the Home-Buying Process on behalf of one of her children, but after chatting with her for a few minutes it was clear she was there for herself.

The more I learned about Dana, the more I wanted to help her become a homeowner.  She had been renting for all her life, and had been in the same rental home for several years with her 3 kids.  I can’t imagine life on a daily basis trying to raise 3 children as a single parent—but somehow Dana made it look easy!

Once we were able to get her pre-approved, we really had our work cut out for us in the housing search.  We needed to find a home big enough for the entire family, while only looking in a limited area in order to keep the kids at their same schools.  Dana also had to be moved out of her rental home in about 90 days, so it was important for us to stay away from short sales and also foreclosures which needed a lot of updating and repairs, in order for her to move in quickly.

After seeing a handful of properties that needed some work, we found a nice home that fit the family’s needs and budget, and made an offer to the seller.  After some negotiating, we came to a verbal agreement with the seller, and were waiting for their signed paperwork so we could begin the inspection and loan processing.  But much to our surprise, that paperwork never came

After waiting for 2 days, we heard back from the listing agent that another offer had come in late, and the seller was going to accept it.  So it was back to the drawing board!

Luckily the house two doors down was also for sale, and after setting up a showing for it we decided to try our luck again.  This time, the offer stuck!

The house was in great shape, had updated utilities, a finished basement, and enough space for the whole family.  Dana was thrilled, and I was extremely excited to be a part of her first home purchase.

After decades of renting, it was finally time for Dana to graduate to home-ownership.  And I couldn’t be more proud to help such an amazing person fulfill their goals.

Congratulations Dana!  Here’s to many happy years in your new home!
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]]> http://www.minnesotafirsthome.com/buyers/success-story-dana/feed/ 0 http://www.minnesotafirsthome.com/buyers/success-story-dana/ January 2012 MN Housing Market Info http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/ROd14S01oK0/ http://www.minnesotafirsthome.com/general-information/january-2012-mn-housing-market-info/#comments Fri, 03 Feb 2012 21:43:10 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3144 This month’s video made by the MPLS Association of Realtors highlights a lot of good data on the MN Housing Market.

The biggest statistic to take note of is the fact that there are very few homes on the market right now, which is actually tipping the scales in favor of sellers in a lot of cases.

The average and median sales prices are still not increasing overall, but that might be the next step as buyer demand continues to climb, and active listings for sale fall.

Check out the video below for all the info!

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]]> http://www.minnesotafirsthome.com/general-information/january-2012-mn-housing-market-info/feed/ 1 http://www.minnesotafirsthome.com/general-information/january-2012-mn-housing-market-info/ First Time Buyer Class – Thursday, February 9th, 2012 http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/g-liE9Eg360/ http://www.minnesotafirsthome.com/upcoming-event/first-time-buyer-class-thursday-february-9th-2012/#comments Fri, 20 Jan 2012 22:05:00 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3139

*REGISTER HERE*

Are you thinking about buying your first home? Well, the first step towards home-ownership is getting educated about the process and finding a Team of Professionals you can trust and feel comfortable with.

That’s where we come in.  Join us for a very informative FREE 90 minute home-buying seminar where you will learn everything you need to know about buying your first house.  We’ll show you the importance of getting Pre-Approved for a Mortgage, how to Search for Properties on the Internet, and how to become an Expert Negotiator in the home-purchasing process.

Rest assured, this is not a “Sell-a-thon” like some other seminars on home-buying.  It’s totally free, we have no products to sell you, and there are no contracts to sign.  We’re all about educating buyers in order to help you with the biggest financial decision of your life.  If you’re a fan of a low-pressure and laid-back atmosphere, you’ll feel right at home!

Our two experts - Steve Howe and Carrie Guarrero – have teamed up to give you the full spectrum of buying your first home in the Buyer’s Market today right here in MN.  Learn how getting the right loan can save you Thousands of dollars a year.

Some of the topics we will cover include:

If you are thinking about buying a home in the next 1 to 2 years we would love to answer your questions and help you make a solid home purchase, without paying too much.  Any potential First Time Home-buyers in the Minneapolis and St. Paul area of MN should come on down to one of our monthly seminars.

Here’s the info:

  • What - First Time Home Buyer Class
  • Where - Cornerstone Mortgage; 436 Gateway Blvd, Burnsville, MN
  • When - Thursday, February 9th, 6:30-8:00pm

Upcoming Dates for 2012: February 9, March 15, April 19, May 24, June 21, July 19, August 16, September 27, October 18, November 15, December 20

Space is limited so please REGISTER HERE.

IMPORTANT: All attendees will receive a free copy of their CREDIT REPORT and CREDIT SCORE courtesy of Cornerstone mortgage.  You must attend the class to receive your report.

***It should also be noted that this is NOT the Home Stretch course needed to qualify for some of the local first time buyer programs and grants.  Our suggestion is that you get educated about the process first, then get pre-approved and figure out if you will, in fact, be eligible to receive some sort of assistance that would require you to go to the Home Stretch Class.  That class is 8 hours long and there is a fee to attend.***

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]]> http://www.minnesotafirsthome.com/upcoming-event/first-time-buyer-class-thursday-february-9th-2012/feed/ 0 http://www.minnesotafirsthome.com/upcoming-event/first-time-buyer-class-thursday-february-9th-2012/ Home Showings During The Winter Months http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/RtwdrClyhKI/ http://www.minnesotafirsthome.com/general-information/home-showings-during-the-winter-months/#comments Fri, 20 Jan 2012 06:47:13 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3141 The nice thing about searching for homes in the wintertime is that you don’t have much competition from other buyers.  The bad thing is that it’s usually cold and dark when you’re out in showings, unless you happen to take off work or see homes on the weekend.


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]]> http://www.minnesotafirsthome.com/general-information/home-showings-during-the-winter-months/feed/ 0 http://www.minnesotafirsthome.com/general-information/home-showings-during-the-winter-months/ December 2011 Twin Cities Housing Market Update http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/ynYCznl7woE/ http://www.minnesotafirsthome.com/general-information/december-2011-twin-cities-housing-market-update/#comments Thu, 19 Jan 2012 20:38:21 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3134 Another month’s information on the Housing Market in Minnesota, made by the MPLS Association of Realtors.  Lots of good data in this vide below, as usual.

Some highlights that both sellers and first time home buyers should note are:

Many more “Pending Sales” in November than the past few years.  This combined with a low number of homes for sale means the tables are turning towards the sellers a little bit.  However home prices are still declining somewhat consistently, so buyers are still getting a good deal on properties.

This combined, with some more positive national economic news on jobs, and we may be finally starting to see the turnaround in the MN Housing Market.

Check out the full video for all the info!



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]]> http://www.minnesotafirsthome.com/general-information/december-2011-twin-cities-housing-market-update/feed/ 0 http://www.minnesotafirsthome.com/general-information/december-2011-twin-cities-housing-market-update/ First Time Home Buyer Class – Thursday, January 19th, 2012 http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/xD1YrLyvSaI/ http://www.minnesotafirsthome.com/upcoming-event/first-time-home-buyer-class-thursday-january-19th-2012/#comments Fri, 13 Jan 2012 22:40:19 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3010

*REGISTER HERE*

Are you thinking about buying your first home? Well, the first step towards home-ownership is getting educated about the process and finding a Team of Professionals you can trust and feel comfortable with.

That’s where we come in.  Join us for a very informative FREE 90 minute home-buying seminar where you will learn everything you need to know about buying your first house.  We’ll show you the importance of getting Pre-Approved for a Mortgage, how to Search for Properties on the Internet, and how to become an Expert Negotiator in the home-purchasing process.

Rest assured, this is not a “Sell-a-thon” like some other seminars on home-buying.  It’s totally free, we have no products to sell you, and there are no contracts to sign.  We’re all about educating buyers in order to help you with the biggest financial decision of your life.  If you’re a fan of a low-pressure and laid-back atmosphere, you’ll feel right at home.

Our two experts - Steve Howe and Carrie Guarrero – have teamed up to give you the full spectrum of buying your first home in the Buyer’s Market today right here in MN.  Learn how getting the right loan can save you Thousands of dollars a year.

Some of the topics we will cover include:

If you are thinking about buying a home in the next 1 to 2 years we would love to answer your questions and help you make a solid home purchase, without paying too much.  Any potential First Time Home-buyers in the Minneapolis and St. Paul area of MN should come on down to one of our monthly seminars.

Here’s the info:

  • What - First Time Home Buyer Class
  • Where - Cornerstone Mortgage; 436 Gateway Blvd, Burnsville, MN
  • When - Thursday, January 19th, 6:30-8:00pm

Upcoming Dates for 2012: January 19, February 9, March 15, April 19, May 24, June 21, July 19, August 16, September 27, October 18, November 15, December 20

Space is limited so please REGISTER HERE.

IMPORTANT: All attendees will receive a free copy of their CREDIT REPORT and CREDIT SCORE courtesy of Cornerstone mortgage.  You must attend the class to receive your report.

***It should also be noted that this is NOT the Home Stretch course needed to qualify for some of the local first time buyer programs and grants.  Our suggestion is that you get educated about the process first, then get pre-approved and figure out if you will, in fact, be eligible to receive some sort of assistance that would require you to go to the Home Stretch Class.  That class is 8 hours long and there is a fee to attend.***

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]]> http://www.minnesotafirsthome.com/upcoming-event/first-time-home-buyer-class-thursday-january-19th-2012/feed/ 1 http://www.minnesotafirsthome.com/upcoming-event/first-time-home-buyer-class-thursday-january-19th-2012/ 2012 New Year Housing Market Numbers http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/dJdznuZ2Rsg/ http://www.minnesotafirsthome.com/general-information/2012-new-year-housing-market-numbers/#comments Wed, 11 Jan 2012 18:39:31 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3128 The Twin Cities Housing Market has had a busy fall and winter so far.  Here is some information on where the market is right now, and what it means for you as a buyer or seller.

Enjoy!



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]]> http://www.minnesotafirsthome.com/general-information/2012-new-year-housing-market-numbers/feed/ 0 http://www.minnesotafirsthome.com/general-information/2012-new-year-housing-market-numbers/ Success Story: Robbie and Stephanie http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/iFNgV_YqnIU/ http://www.minnesotafirsthome.com/buyers/success-story-robbie-and-stephanie/#comments Thu, 05 Jan 2012 22:38:53 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3111 Sometimes an accepted offer doesn’t really mean you have a deal.  Or at least that’s how Robbie and Stephanie experienced things while trying to buy their first home.

This young couple was looking to purchase a property in St. Paul, and luckily after a few weeks of looking found a nice home that they felt confident about buying.  The biggest concern: it was a Short Sale!

Despite the name, a Short Sale usually takes a long time to get approved by the seller’s lender(s), which was exactly the case for Robbie and Stephanie.  We made our offer in early May, and anxiously awaited news on the bank’s approval.  After weeks and months of asking for updates, we finally got word in late October: DENIED!

The seller’s bank wanted $40,000 more than we had made our offer for over 5 months ago, which was not going to be possible.  So after almost half a year of waiting, it was “back to the drawing board” to search for a home.

Fortunately, we were able to find a property after another few weeks of searching and after a couple of repairs the house was as good as theirs!

This new sale was not without its challenges either, since it was a Foreclosure and needed some work as well.  But by being flexible and patient, Robbie and Stephanie we able to close and move in within a month of writing their offer.

The moral of the story: even though you have an accepted offer from the seller on a Short Sale, don’t get your hopes up until you have Final Bank Approval from the seller’s lender.

Luckily these buyers kept looking and were able to find another home that fit their needs relatively quickly.  I’m so proud to help so many new homebuyers like them.  It truly makes the job worthwhile!

Congratulations you two!

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]]> http://www.minnesotafirsthome.com/buyers/success-story-robbie-and-stephanie/feed/ 1 http://www.minnesotafirsthome.com/buyers/success-story-robbie-and-stephanie/ November 2011 Twin Cities Housing Market Info http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/S9_PDfthQHs/ http://www.minnesotafirsthome.com/general-information/november-2011-twin-cities-housing-market-info/#comments Thu, 22 Dec 2011 18:16:39 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3120 For another month in 2011, we saw some positive signs that the MN Housing Market is beginning to “recover”.  This month’s video, produced by the MPLS Area Association of Realtors, tells us that demand is definitely picking up compared to the past couple years.  However prices are still dropping in the overall housing market.

The national economy is also seeing some positive signs of life, which will help fuel real estate sales and eventual price increases as people get more jobs and make more money.

What does this mean for you, as a buyer?

Well, you’re still getting great mortgage interest rates, low prices, and there’s still a good number of homes to pick from on the market.

Check out the video for all the details!



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]]> http://www.minnesotafirsthome.com/general-information/november-2011-twin-cities-housing-market-info/feed/ 0 http://www.minnesotafirsthome.com/general-information/november-2011-twin-cities-housing-market-info/ Seller Paying Closing Costs? http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/tPOCIa6ivqU/ http://www.minnesotafirsthome.com/buyers/seller-paying-closing-costs/#comments Tue, 06 Dec 2011 08:59:21 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3001 I’ve seen a lot of first time homebuyers searching online for the term “Seller Paying Closing Costs?” I’ve written a few articles in the past about asking the seller to pay some or most of your Closing Costs and Prepaid items.  But I figured it would be good to link to my best post on this topic of Seller Paid Closing Costs, and also remind home buyers that this is not a given in any transaction.

Some sellers will reject this if you ask for it, so make sure you aren’t 100% counting on this funding source of funding.

Always consult with your Mortgage Coach and Real Estate Agent when negotiating with a seller.

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