It’s no secret that the Minneapolis real estate market is sharply slanted toward the home buyers’ favor. Home purchase opportunities abound. In fact, right now you can view thousands of Minneapolis MN homes right from this site, with many opportunities to purchase distressed properties, and other fabulous bargains.
The Twin Cities Real Estate Market is Back!
If you compare residential Minneapolis real estate sales stats from March of 2012 to March of 2011, this statement becomes self-evident. Median sales prices of Minneapolis homes have increased 7.1%. Pending home sales numbers shot up 41% from last year, and the days-on-market for sold properties has dropped to 144 days. The months supply of Minneapolis real estate inventory dropped to 4.7 months, which is lower than anything we have seen for a number of years. Consumer confidence is back as the economy slowly starts to recover.
Financing for Rehabbing Minneapolis Houses
Do you want to purchase a fixer upper, but are concerned that you won’t have the money to finish the job? If you are going to be the owner-occupant, you can use a special loan product called FHA 203K Streamline to borrow money for both the purchase of the Minneapolis home and the repairs with the same loan. If you are a handyman and a first time homebuyer, this is an affordable way to get a foothold on the Minneapolis real estate market.
See ALL Minneapolis real estate listings for sale
Home Loan Mortgage Interest Rates are Cheap!
The mammoth property inventory and low home loan mortgage rates are making the Minneapolis real estate market the best buyer’s market you may ever see! The prices on Minneapolis homes are jaw-dropping, and interest rates are at an historic low, so this is a good time for property buyers to be decisive.
Low Down Payment Mortgages
Many people are using FHA financing because it requires only a 3% down payment. Call us for more information on down payment assistance programs or special loan products.
Time to Buy Minneapolis Real Estate
As you well know, the Minneapolis real estate market has its share of lender-mediated properties (i.e. foreclosures/REO’s and short sales) but these are being gobbled up by first time home buyers who know that if they wait until mortgage interest rates and prices go up, they may be locked into renting for a long, long time. Considering that the FED is no longer buying up mortgage-backed securities, it is a sure bet that rates will go up. Therefore, astute real estate investors know that this is the time to pick up Minneapolis homes for cash flow now, and value gains for later. Also, there are many great “deals” to be found across the entire spectrum of prices. The large inventory of Minneapolis properties means that the selection is broad, and that there is something for buyers of every stripe.
