Twin Cities Real Estate

Renter Resources For Emergency Services That Might Help With Rent

In today’s economic environment, tenants are feeling the pain of a recession as well-or even more-than the rest of the population. This might mean their job loss or lesser wages. It is hard to pay the rent without an income. Therefore, as a landlord, your consider learning about and sharing resources with your tenants that provide emergency services in the Twin Cities. I have put together a few ideas on services/programs that might be able to help with food, utilities and even the rent. Besides the greater possibility and likelihood of getting your rent, you are being a friend and showing that you care. What goes around comes around.

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Twin Cities Real Estate

2012-will it be just another year or is it YOUR year of transition?

I recently gave a Toastmasters speech on this topic. Key to answering the question is whether or not you have written goals in mind regarding what you want or intend to accomplish. Unless there are specific goals that require you to plan and live with a purpose and focus, life will just happen. Either way is fine as long as you know what to expect. Many people are frustrated when they expect something different. Mastering time and focusing on goals may more create a more fulfilling life. Soon, I will begin my annual project of goal setting. I intend to plan my year with measurable goals. I find I’m much happier when I’m focused on where I’m going. As such, I just came across this PDF called The Tower. I thought it was interesting and wanted to share it here. It is a short e-book about a man who is achieving his goals and living the dream. He’s living life on his terms and creating a legacy. He became more focused after he analyzed a video game he was playing. It is a pretty interesting book. Maybe one of your goals involves real estate-buying a new home or investment property. If this is a goal of yours, I can help. Give me a call and let me help you figure out how we can make real estate goals become your reality in 2012.

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Twin Cities Real Estate

Short Sales Vs Foreclosures Vs Traditional sales

We need to understand that while the current economy is really a “Tale Of Two Cities” in that some people have no idea we are in a recession whereas others are in deep pain, the real estate market as a whole is being impacted by distressed properties. Based on the current backlog of homes, it may be this way for some time. That being said, why are short sales being embraced by everyone as the most economical way to move markets forward? When you look at a comparison of the loss incurred by the lender, you will see that losses are generally worse with a foreclosure. Larger losses via lower sales prices ultimately impacts everyone who is buying, selling or refinancing. I have a report and flyer I’d like to share. Both provide you with opinions and resources so you can draw your own conclusions. Solving the housing problem starts with understanding the problem as well as exploring viable solutions.

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Twin Cities Real Estate

HUD Home Tips

Recently, a representative from Best Assets came to speak in Minnesota about how they are handling the disposition of HUD homes in conjunction with the asset managers, agents, and the website http://www.HUDHomeStore.com . The process of buying and selling a HUD home is very similar to that of “traditional transactions”, but there are some small differences and nuances. I have attached a sheet that covers some of items that you should be aware of.

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Twin Cities Real Estate

Minnesota HUD Homes

Most properties that become lender owned are generally available through our online MLS. HUD homes are listed in our online MLS as well. That being said, HUD maintains a site at http://www.HUDhomeStore.com that lists all their properties for all states and provides you a lot more information about specific homes. I would encourage you to go there and see what is available. As an agent, I am able to show and help you purchase a HUD home. Just let me know what you’d like to view. I can set up a specific search for you within our Online MLS and see that listings that meet your parameters are emailed to you daily. Attached you will see that process that occurs once you’ve purchased a HUD home. It will provide you with a flow chart so you know what happens. Did you know that HUD allows you to put $100 down on a full price purchase offer of a HUD home utilizing FHA financing? These terms and conditions are subject to change at any time. Keep up to date at http://www.HUDhomestore.com

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Twin Cities Real Estate

Expanded HARP Mortgage Refinance Option-Available Soon!

Today, the government expanded the HARP program and qualifications. Attached is the news release. Qualifying for a new loan to lower your rate may now be a possibility even if you are upside down-ie underwater on your loan. Terms/conditions always apply-see the release and call me if you think you fit the parameters. We can take it from there.

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Twin Cities Real Estate

National & Minnesota Foreclosure Trends

The market is still slow, but this is the opportunity for those who want to roll back the clock and purchase at price levels combined with interest rates that we haven’t seen in years. See the newsletter for more information. Also, I have MUCH more information to share. Simply give me a call or send me an email to get started. Let me show you how I can help.

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Twin Cities Real Estate

VA-Veteran Loans Funding Fee & FHA Maximum Mortgage Changes

Starting October 1st, 2011, the maximum FHA loan limit for single family loans is being lowered from $365K in the Twin Cities to $318,550. See the attached form. This is not a good thing, but reflects the reality of declining value of much of the real estate. Unfortunately, underwriting of all loans continues to tighten. On a positive note, the VA funding fee is being lowered. This would be due to less losses and a lesser need to collect as much insurance premium to protect against defaults. So, the question I have pondered is: Why are VA loans-typically financed at 100% loan to value-not experiencing the same loss ratios as other mortgage programs. VA 100% financing has been around forever. It works-and well. The problem of our mortgage crisis is not the loan to value or a required minimum down payment or tighter underwriting as some would have you believe. Imagine all the new homeowners if we actually took what we’ve learned from decades of underwriting VA loans and applied it to a new “stimulus mortgage program”. Instead, we are becoming a nation of renters. Somebody in congress needs to talk to the people who have their boots on the street for real solutions to our mortgage and real estate problems.

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Twin Cities Real Estate

Using A Reverse Mortgage To Purchase

With some of the major lenders leaving the reverse mortgage business-possibly just on a temporary basis-you might find it more difficult to find a lender offering the program. At the same time, it is worth your time to look. If you are 62 years old and have approximately 50% equity in a home, you can obtain a reverse mortgage. You can use this loan for a purchase as well. So, if you put down 50% of the value of the home, you can obtain a reverse mortgage. Remember, the reverse mortgage doesn’t have a monthly payment associated with it. While you are still responsible for the taxes and insurance, you pay off your loan when you sell the home. The attached PDF will give you some examples of how much is required to buy a home using a reverse mortgage at various age groups. This is a unique opportunity for seniors to consider, especially if they are on a fixed income.

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Twin Cities Real Estate

An Economic Blog/Resource For You

I just found this blog at http://www.CalculatedRiskBlog.com It is a cool economic blog. Go there and read articles to see what is happening in the world. Then, go to the graphs gallery. Simply amazing. It is worth your time if you want a macro view of the world and environment in which we live today.

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Twin Cities Real Estate

What’s happening in the Twin Cities Real Estate market?

Are you wondering what’s happening out there? Well I have my “boots on the street”. Here is where I see it and where I see it going in the short term. Overall, sales are slow, but not dead. We are now in the fall market. In as early as 30 days, we could have snow on the ground. Then, you have Thanksgiving and all of the other holidays. Combine all these events and this tends to be the slowest time of the year. This means it will likely get slower over the next 90 days for traditional home sales. I’ll keep you posted about the Spring market when we get there. That being said, I am keeping very busy-thankfully!. Many of my transactions today are involving investors. The deals are just too good to pass up. I would be happy to show you what I mean and give you actual examples involving investor transactions I’ve been involved with. If you believe that values will increase in the future, now represents the best buying opportunity I have seen in my 26 years. Is it all uphill from here? Absolutely not! In fact, depending on the community and property type, it might get worse before it gets better. Yet, if you are a long term investor, purchasing for the long term, this is a golden opportunity. Interest rates are at 50 year lows, the banks will soon have to do something with their inventory of properties. Banks are actually accelerating their foreclosure procedures. This means more homes will be available for sale or even possibly for rent. The government is thinking about solutions-so we’ll have to stay tuned. Will they become landlords? Will they raise the LTV loan limits for underwater mortgage refinance opportunities and expand eligibility beyond Fannie and Freddie loans? Will there be write downs of principal and equity sharing going forward for existing underwater homeowners? These are all ideas being talked about. Stay tuned for more!!

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Twin Cities Real Estate

Amazing Video-Wouldn’t Believe It If I hadn’t Viewed The Video

Amazing message-mortal enemies can get along! What an example for the rest of us!

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Twin Cities Real Estate

Great Cartoon from 1948

Human beings are human beings. Only the names change. When we refuse to understand history, psychology, and human nature we end up repeating mistakes that could be avoided. Re-learning lessons is getting mighty expensive. Definitely worth watching.

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Twin Cities Real Estate

VA financing their foreclosed properties for Investors

This is pretty exciting.  It is a way that investors can buy VA foreclosed homes with VA loans.  I personally have not participated in this yet, but I wanted to make sure everyone knew that it was an option and might be available.  See the flyer for more info

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Twin Cities Real Estate

Twin Cities Real Estate-Investment Property In Minneapolis St Paul

This is a recent power point I’ve just put together. It gives you some ideas and information before you begin investing in real estate.

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Twin Cities Real Estate

Benefits of Relocating to Minnesota Include Affordable Twin Cities Real Estate

Benefits of Relocating to Minnesota Include Affordable Twin Cities Real EstatBy John Mazzara

If you are looking for a great place to relocate, you’ll find that relocating to Minnesota is an excellent option today. Whether you are from California, New York, Mississippi, Texas, or even Ohio, you’ll find that Minnesota is a wonderful place to move. There are a variety of reasons that moving to areas in Minnesota, such as Minneapolis Minnesota or even St. Paul, is a great idea. You’ll find that this state has much to offer you. Of course before you decide that this is the right place for you, it’s important that you take a look at the general benefits of relocating to Minnesota and at the real estate market in the state as well.

General Benefits of Relocating to Minnesota

If you’re considering Minneapolis, Minnesota or another city in the beautiful state of Minnesota, you’ll find that there are many general benefits to relocating to Minnesota. Here is a closer look at some of the excellent general benefits you’ll enjoy when you decide to move to this state.

- Benefit #1 – Excellent Schools with Great Performance – First of all, you’ll find that Minnesota has excellent schools with great performance. In fact, many of the schools in the Minneapolis area actually score very highly when it comes to the No Child Left Behind guidelines. If you happen to have children, more than likely great schooling is a high priority for you, so excellent schools are definitely a drawing point.

- Benefit #2 – Easy Commutes to Work – You’ll find that most Minnesota homes are actually located so that you have a reasonable and easy commute to work. This is an important consideration for working families, especially with the recent hikes in gas prices.

- Benefit #3 – Reasonable Taxes – Taxes on real estate in the area are fairly reasonable as well. In some places across the country, real estate taxes are skyrocketing, but the taxes in many locations are quite low within the state of Minnesota.

- Benefit #4 – Great Jobs Available – Jobs in Minnesota are plentiful, which is another great benefit to relocating to this area. There are many great jobs that are available and with the growth in the job market, many families are finding that this area is a great place to relocate to. Especially in the St. Paul and Minneapolis areas, you’ll notice that there are excellent jobs that are available, which is definitely a top drawing point.

- Benefit #5 – Cost of Living is Relatively Low – Compared to many other regions in the United States, you’ll find that the cost of living is relatively low. Although prices have been driven up due to increases in gas prices and the real estate market troubles recently, you’ll find that comparatively the cost of living is lower than many other places around the country today.

The Real Estate Market

No doubt you are interested in the real estate market as well if you plan on relocating to Minnesota. Whether you are planning to buy in a rural area or you are interested in twin cities real estate, there are some things that you need to know about the market before you make your decision about the relocation. Let’s take a look at the real estate market and how it’s looking for families that want to relocate to the area.

- Real Estate is Going for Low Prices – First of all, you’ll find that real estate is going for low prices right now. In fact, you’ll find that twin cities real estate is down and homes are going for very low prices. Although this is not necessarily a good thing for those who are selling, it’s great for you if you want to relocate to this area and find Minnesota homes for a great price. The low prices definitely are attractive if you are considering a relocation to the Minnesota area.

- Many Types of Real Estate Available – You’ll also find that there are a variety of different types of real estate available that you can choose from if you move into the area. You can purchase nice single family Minnesota homes, but they are not your only option. You’ll find that condominiums, apartments, and even town homes in the area are excellent choices as well.

- Mortgage Rates are Low – Right now the MN mortgage rates for Minnesota properties are low, making it a great time to purchase a Minnesota home. This means that not only will you be able to find a great deal on your home in the area, but you’ll also be able to find great rates on the mortgage that you need as well.

As you can see, there are definitely a variety of great benefits to relocating to Minnesota. If you are looking for quality schools, great jobs, reasonable real estate prices, and low rate mortgages, then Minnesota may be a great place for you to move in the near future. Take the time to find out more about the real estate options that are available to you today.

Minnesota Realtor and Minnesota mortgage broker-John Mazzara-Sells and finances homes throughout the Twin Cities metro area. John works throughout the Twin Cities and lives in Edina, MN. I service the entire 7 county metro area. If you are looking for relocation resources visit our site at http://www.TwinCitiesRelocation.com We would be happy to provide relocation information about housing and schools for communities in and around the metro area. You can begin your Minnesota real estate MLS home search immediately online through the links at http://www.MinnesotaRelocation.net We provide a number of useful links, reports and demographic information about Minneapolis homes, St Paul homes, and MN real estate. On our mortgage website you can apply for a mortgage. We broker loans only in MN. Our mortgage products include FHA, VA, rural loans, conventional loans, lines of credit, and reverse mortgages. If you are relocating to MN or even just moving across the city or state of MN you will find our sites useful. Minnesota provides a wonderful quality of life-low crime, excellent schools, and major attractions such as lakes, shopping, and entertainment.

Article Source: http://EzineArticles.com/?expert=John_Mazzara
http://EzineArticles.com/?Benefits-of-Relocating-to-Minnesota-Include-Affordable-Twin-Cities-Real-Estate&id=1747796

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