Honest Realtor Blog in the Twin Cities

Rumors are running around that the Home Buyer Tax Credit will be extended, but as of yet there is nothing to substantiate that rumor.

So, there are only 60 days left before the $8000 First Time Home Buyer Tax Credit expires.

If you are one of those First Time home buyers, do not wait anymore!

It takes time to qualify for mortgages, search for homes, submit offers and close on your home purchase.

If you are in the Minneapolis and St Paul Minnesota home market, contact me. I can help, plus it is FREE.

Tod Franklin

612 910 7993

t.franklin@mntrealestate.com

Properties for sale by owner are difficult to navigate unless you are  experienced in real estate transactions.

Often times properties being sold directly by owners do not have the correct legal disclosures and documentation to protect by parties in the transaction.

Often you must seek professional help to conduct the transaction anyway, unless the owner is a real estate professional or an attorney. But then how do you know they are protecting your best interest?

Most 'For Sale by Owner' properties do not get listed on the MLS. The only way they can is by using a discount real estate broker and ultimately they still need help from a real estate professional to conduct a sale.

Our best recommendation if you want to sell your home 'by owner' is that you at least use a discount broker or real estate company to get your property on the MLS.

For buyers, you can still use an agent to buy a home that is for sale by owner, but you need to let your agent negotiate the transaction for you.

If you have any questions about buying or selling your home, just contact us.

We can help and we do not charge a dime for intial consultation.

Tod Franklin

t.franklin@mntrealestate.com

612 910 7993

To those home buyers and sellers that are still on the fence...

The MNT group at Change of Place Realty have put together some brief video webinars that you might find helpful.

They relate to all home buyers and sellers, but it does focus mostly on the Minneapolis and St Paul are of Minnesota.

Check them out at www.mntrealestate.com/videowebinar

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.

The phrase 'objects are not as they appear' comes to mind when I think of pictures of homes for sale on the Twin Cities multple listing system (MLS).

Pictures online are great, but they do not tell the whole story; good or bad.

Believe me, I show a TON of properties and many times I have been surprised by the difference from pictures online to seeing a property in person. It goes both way: Sometimes they are much better in person. Sometimes they are much worse.

I am just writing this as a reminder. It is always best to see a home or property in person to accurately assess it's quality.

If you are looking in the Twin Cities area and want to get a real impression of a home, just contact me and I can set up a personal showing.

Tod Franklin

612 910 7993

t.franklin@mntrealestate.com

If you are looking for homes, chances are that you are using the Local MLS. For the Twin Cities it called The Northstar MLS. This is by far the best way to search for homes. But you need to know, all you are seeing are the listings. You are not seeing current market trends, how long a certain property has been on the market, what percentage of list price properties are being sold for in that area, if a property is a Short Sale and the history of property.

These are just a few of the reasons you NEED to hire a reliable, knowledgable Realtor. Trust me, I know people don't like Realtors. I became Realtor after I bought my first house. Yes, my Realtor really "took" us on that one. Since then (2001) I have had a lot of Real Estate transactions, I bet I could count on one hand how many Realtors I would want to work with again in that time.

The Bottom line is this...There is alot of information that go's along with any Real Estate Transaction and you need to make sure have someone in your corner.

As Always, if you in the Minneapolis/St. Paul and surrounding areas. I am available via email or cell phone for free, no obligation advice.

Tod Franklin

Change of Place Realty

612-910-7993

T.Franklin@mntrealestate.com

www.mntrealestate.com

This question has been coming up more and more often. I can tell you my professional opinion is this...

If you are thinking of a buying a home, DO IT! Interest rates are low and prices are low. The biggest problem with waiting is how much money it could cost you. We are already seeing some trends in the Minneapolis/St. Paul area that the prices have stopped dropping and even started rebounding. If you consider that, along with the fact that interest rates can't stay this low forever, waiting could cost you hundreds of dollars per month added to your payment. We are also seeing houses selling faster, some of this is because of the time of year. I personally think most of it is because of the finance rates. You can just afford more house, right now, than you could afford 18 months ago.

As always. If you have any questions please email, text or call me. You can find my contact information at www.mntrealestate.com