Honest Realtor Blog in the Twin Cities

For those of people out there waiting for the right time to buy or sell a home, the time is now.

For Twin Cities (Minnesota) home buyers; interest rates and home prices are low. It doesn't get much better than right now to buy a home. Waiting could actually cost you money. If interest rates or prices climb up, it will cost you. Also, first time buyer can take advantage of the $8,000 tax credit only until Dec 1, 2009.

For Twin Cities (Minnesota) home sellers; Yes, it is true prices are low, but it just means that your replacement home cost less too. Plus, it is likely you will reduce your monthly expenses due to lower interest rates and lower purchase price on your new home.

For the few Home owners that have negative equity (Those who owe more than the current market value); you are likely best off waiting for the housing market to fully recover and prices to rebound. Otherwise, you may have the option of attempting a 'short sale', which is selling your home for less than is owed on the mortgage. However, you must prove financial hardship to do so and your mortgage holder (bank) must authorize the sale. They are difficult to accomplish, but not impossible.