Minnesota First Time Home Buyers http://www.minnesotafirsthome.com Everything you need to know, when buying your first home Tue, 01 May 2012 21:31:48 +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 – Nate and Heather http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/YZcPjhrJc_M/ http://www.minnesotafirsthome.com/buyers/success-story-nate-and-heather/#comments Tue, 01 May 2012 21:31:48 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3210 I had known Nate and Heather for many years before talking with them about buying their first home.  Luckily for me, they already had a good idea of their financial comfort levels and areas of interest to look in.  And on top of that, they were 100% motivated to find a home of their own, because they were living with family and were itching to move out ASAP!

After going through the financing pre-approval process, they were ready to hit the ground running.  We started searching for the right property that met their needs and wants, and after about 15 homes they found one that felt right.

The only catch: it was a short sale!

Since short sales can take a long time to get approved by the seller’s bank(s), we kept searching for homes even after getting an accepted offer.

We waited around for a little over a month, and with no real progress on the short sale approval, we decided to try our luck with a bank-owned property.  But to our dismay, there was another offer on this foreclosure!

So, we made our best bid and as luck would have it—we won!

This meant we had to cancel the short sale offer with the previous home, and line up our inspection, appraisal, and loan/title processing for the bank-owned house.

The bank also made some repairs to the house, including new carpet and paint—which was a great added bonus since the house needed some updating anyways!

After getting all the paperwork done and setting up closing, Nate and Heather got the keys to their very own home!  They didn’t stop there though—shortly after moving in, they finished a new room in the lower level and updating the house to meet their personal style.

Another great example of how leaving your options open in your home search can payoff in such a great way!

Congrats Nate and Heather, here’s to many happy years of home-ownership!

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]]> http://www.minnesotafirsthome.com/buyers/success-story-nate-and-heather/feed/ 0 http://www.minnesotafirsthome.com/buyers/success-story-nate-and-heather/ Monthly Housing Market Update – April 2012 http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/4fMcjSHYoFg/ http://www.minnesotafirsthome.com/general-information/monthly-housing-market-update-april-2012/#comments Wed, 25 Apr 2012 02:48:13 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3208 More signs this month that the Housing Market here in MN is shifting from a buyer’s market to a seller’s market very quickly.

This video, produced by the MPLS Area Association of Realtors shows all the relevant housing statistics in the greater Twin Cities metro area.  The key facts are:

  • Pending Sales are up
  • Sale Prices are up
  • Homes for Sale are down
  • Interest Rates are still low

This is all combining to give first time home buyers a more difficult time finding the right house.  Hopefully with the summer months on the horizon, we will see a slight increase in the housing inventory.  Check back for more info in a few weeks!

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]]> http://www.minnesotafirsthome.com/general-information/monthly-housing-market-update-april-2012/feed/ 1 http://www.minnesotafirsthome.com/general-information/monthly-housing-market-update-april-2012/ First Time Homebuyers Class – Thursday, May 24th, 2012 http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/voYoTf5pYcw/ http://www.minnesotafirsthome.com/upcoming-event/first-time-homebuyers-class-thursday-may-24th-2012/#comments Tue, 17 Apr 2012 21:56:15 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3202

*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, May 24th, 6:30-8:00pm

Upcoming Dates for 2012: 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-homebuyers-class-thursday-may-24th-2012/feed/ 0 http://www.minnesotafirsthome.com/upcoming-event/first-time-homebuyers-class-thursday-may-24th-2012/ MN Home Prices Rising? http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/AMbhGlsiPEE/ http://www.minnesotafirsthome.com/general-information/mn-home-prices-rising/#comments Thu, 12 Apr 2012 14:38:19 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3198 Don’t call it a comeback!

Ok, well maybe we should call it a comeback.  It appears that we *might* be seeing the housing market turn from a buyer’s market to a balanced or even a seller’s market finally.

  • Housing Supply is down
  • Percent of Foreclosures and Short Sales are down
  • Average Days on Market is down
  • Home Prices are up
  • and Number of Home Sales are up

All this without any interference from outside influences (i.e. the 2009-2010 Home Buyer Tax Credits that temporarily propped up housing stats, only to see them decline once the Credits expired).

See the brief Star Tribune Article here.

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]]> http://www.minnesotafirsthome.com/general-information/mn-home-prices-rising/feed/ 0 http://www.minnesotafirsthome.com/general-information/mn-home-prices-rising/ March 2012 Housing Market Insight http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/gBvStXqdrwg/ http://www.minnesotafirsthome.com/general-information/march-2012-housing-market-insight/#comments Mon, 02 Apr 2012 20:30:14 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3194 Wondering why the MN Housing Market is turning in favor of sellers?  Take a look at some analysis of the numbers to find out for yourself.

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]]> http://www.minnesotafirsthome.com/general-information/march-2012-housing-market-insight/feed/ 0 http://www.minnesotafirsthome.com/general-information/march-2012-housing-market-insight/ Monthly MN Housing Market Numbers – March 2012 http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/Tnsqs1ACq1o/ http://www.minnesotafirsthome.com/general-information/monthly-mn-housing-market-numbers-march-2012/#comments Tue, 20 Mar 2012 20:29:09 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3192 This month’s MN Housing Data video (produced by the MPLS Assoc. of Realtors) details some interesting stats on the housing market here in the greater twin cities area of minnesota.

Increased Low prices, along with more pending sales mean there are still good incentives for buyers in the market.

But lower inventory and less month’s worth of supply mean that sellers are gaining some negotiating power.

Click below to see the rest of the info!

 

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]]> http://www.minnesotafirsthome.com/general-information/monthly-mn-housing-market-numbers-march-2012/feed/ 0 http://www.minnesotafirsthome.com/general-information/monthly-mn-housing-market-numbers-march-2012/ First Time Home-Buyer Class – Thursday, April 19th, 2012 http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/c8WZjK8-jec/ http://www.minnesotafirsthome.com/upcoming-event/first-time-home-buyer-class-thursday-april-19th-2012/#comments Fri, 16 Mar 2012 16:16:35 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3190

*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, April 19th, 6:30-8:00pm

Upcoming Dates for 2012: 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-april-19th-2012/feed/ 1 http://www.minnesotafirsthome.com/upcoming-event/first-time-home-buyer-class-thursday-april-19th-2012/ FHA Mortgage Insurance – Increasing April 1st, 2012 http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/n1FVxTYOBvM/ http://www.minnesotafirsthome.com/buyers/fha-mortgage-insurance-increasing-april-1st-2012/#comments Wed, 14 Mar 2012 21:47:08 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3186 Here is the FHA Mortgage Insurance Premiums article written by Carrie Guarrero from Cornerstone Mortgage.

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]]> http://www.minnesotafirsthome.com/buyers/fha-mortgage-insurance-increasing-april-1st-2012/feed/ 0 http://www.minnesotafirsthome.com/buyers/fha-mortgage-insurance-increasing-april-1st-2012/ Success Story: Jeff and Heather http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/CkFEM3-fZws/ http://www.minnesotafirsthome.com/buyers/success-story-jeff-and-heather/#comments Mon, 12 Mar 2012 15:40:10 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3180 While Jeff and Heather were not necessarily first time home buyers, they were buying their first home together—which is kind of like being a first-timer all over again!

Both had teenage kids in high school, which was a definite variable in finding the right property for their needs.  This coupled with their upcoming wedding made things a little more hectic during the home-searching process.  Since they weren’t looking for just a starter home, we needed to find something that had enough space for their established family and in a location that would accommodate both of their kids’ high schools as well.

We started our search by taking a look at some bigger townhomes in the southern metro area, but ultimately they just were not the right fit.  We also included single-family homes built within the past 15-20 years, but some of their features did not live up to what Jeff and Heather wanted in a home.

After checking out some new construction opportunities, they found a nice development in Lakeville that would fit their budget and lifestyle needs too.  The only hitch—it would be another 3 or 4 months until construction would be done so they could move in.  Since we had already been searching for about 3 months, this seemed like an eternity.  But it would be worth the wait when all was said and done.

One factor we had to keep in mind was mortgage interest rate fluctuations during this time period.  Since they were not able to lock-in an interest rate until we got closer to moving day, this made watching the market more nerve-racking than normal.  Ultimately, rates stayed low until they could secure a rate-lock, which ensured them a nice manageable monthly payment on their mortgage.

After picking all their colors, appliances, and other finishes in the fall, we monitored construction into the winter months with an eventual closing date in February.  And Tom Petty could not have been more right when he sang, “the waiting is the hardest part”.

Finally after months of planning and choosing fixtures, moving day was here!

We attended our final walkthroughs to take care of any last minute touch-ups in the home, and headed down to closing.

It was a long journey to get there, but in the end Jeff and Heather are owners of a brand new home that their family will enjoy for many years to come!

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]]> http://www.minnesotafirsthome.com/buyers/success-story-jeff-and-heather/feed/ 1 http://www.minnesotafirsthome.com/buyers/success-story-jeff-and-heather/ First Time Homebuyer Class – Thursday, March 15th, 2012 http://feedproxy.google.com/~r/MinnesotaFirstTimeHomeBuyers/~3/E1tADZ22INE/ http://www.minnesotafirsthome.com/upcoming-event/first-time-homebuyer-class-thursday-march-15th-2012/#comments Sat, 25 Feb 2012 22:47:24 +0000 Steve Howe http://www.minnesotafirsthome.com/?p=3153

*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, March 15th, 6:30-8:00pm

Upcoming Dates for 2012: 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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