Have it all! Why buy new construction for hundreds of thousand more? You can have a fully remodeled, redesigned rambler in an excellent Roseville, MN location. This home has 3 BR, 2 fully remodeled baths, and an affordable price of $239,900 You will not believe the amount of attention to detail on this home. The list of improvements and upgrades is too long to mention! You must see this home to appreciate. Contact listing agent for more details about this property or to schedule a private viewing.
Are you looking for Roseville homes for sale? Recent MLS statistics show that transactions are up significantly over last year. Whether you are a Minnesota first time home buyer, moving up from a previous home or an investor, today is a great time to be looking for a home in Roseville. With a combination of record low interest rates and reduced property values, housing payments haven’t been this affordable in decades. You will want to understand the 3 basic types of properties listed for sale.
Foreclosures in Roseville
Foreclosures often represent a great value for today’s home buyer. When a bank owns the home they want to sell it quickly as they are responsible for maintenance, utilities, and property taxes There is a lot of competition from home buyers today when a foreclosure comes up for sale at a good value. It is not uncommon to see multiple offers on a Roseville foreclosure, sometimes driving the price above the list price.
Short sales can be a good opportunity for home buyers who do not need to move within the next 6 months or so. When a seller has a home on the market as a short sale, this means they will not be able to pay off the entire loan they have on it when they sell the home. This means that after they receive your offer you will need to wait while the seller negotiates with their bank to forgive a substantial part of their debt.
Traditional sales from a home seller represent at least half of the homes on the market today. These properties are often great values in part because there has been a property owner there to take care of any the necessary maintenance on the home. A traditional home seller will tend to be more apt to pay all of your closing costs as well. If you are looking for a well-maintained home where you can move in quickly with great financing terms, a traditional home sale is the way to go.
Roseville, MN Community Information
There are many great reasons to consider living in the City of Roseville. Located in Ramsey County, and with borders touch both St. Paul and Minneapolis, residents have a convenient commute to a wide variety of employers. Homeowner’s in Roseville also enjoy some of the lowest property taxes in the area partly due to its commerically-zoned land. Home to the original Target and Best Buy stores, Roseville is a major shopping district and has more restaurants per capita than anywhere else in the Twin Cities. Students in the area attend one of the schools in the Roseville Area Schools system, District 623. If you are thinking of buying or selling Roseville real estate please give me a call or send me an email.
First Step In The Process
For many MN first time home buyers the big question is where do I start? Your first step to home ownership is to get preapproved for a mortgage. By doing so you find out how much of a loan you are qualified for so that we can research homes in a comfortable price range.
Warren Buffett, chairman and CEO of Berkshire Hathaway, is widely regarded as one of the world’s most successful investors. He recently appeared live on CNBC’s Squawk Box program, Monday, February 27, 2012, for his annual “Ask Warren” three-hour marathon. He covered many topics, but one of them caught our attention.
Warren Buffet’s Advice on Buying Single Family Homes
Buffett began by noting that, “…equities are still cheap relative to any other asset class,” but he further added, “I would say the single-family homes are cheap now, too.”
He then made this startling statement:
“If I had a way of buying a couple hundred thousand single-family homes… I would load up on them.”
He admitted that he would need a way to manage so many residences: “… the management is… really the problem because they’re one by one. They’re not like apartment houses.” But if it were practical, he would “load up on them and I would take mortgages out at very, very low rates.”
He went on to offer an insightful summary of the current situation in today’s housing market: “If anybody is thinking about buying a home — five years ago they couldn’t buy them fast enough, because they thought they were going to go up, and now they don’t buy them because they think they’re going to go down. And interest rates are far lower.”
“It’s a way, in effect, to short the dollar, because you can take a 30-year mortgage and if it turns out your interest rate’s too high, next week you refinance lower. And if it turns out it’s too low, the other guy’s stuck with it for 30 years. So it’s a very attractive asset class now.”
Buffett was asked, point blank, if he were a young investor who had to choose between buying a first home or investing in stocks, which one would be the better bet?
“…if I knew where I was going to want to live the next five or 10 years, I would buy a home and I’d finance it with a 30-year mortgage and it’s a terrific deal.”
As a final note on the topic, Buffett wrote in his latest letter to Berkshire Hathaway shareholders: “Housing will come back — you can be sure of that.”
Remember, we’re always here to answer any questions…. Have a great day!
For the last several months we’ve noticed an increased tension in the market due to lack of sell-able listings and relatively solid buyer demand. For several years now pricing in the St. Paul and Minneapolis area has remained mostly flat, thus causing a lot of would be sellers to sit on the sidelines waiting for better returns. Homeowners invariably can only wait so long before outgrowing a home, or a job transfer. So, a fairly large segment of the normal seller population has turned to renting rather than selling. This, along with the halt in foreclosures, and essentially zero new building since 2005 leads us to spring 2012 with a severe shortage of properties to buy. What I find interesting is even with this shortage of options, and even with interest rates in the 3-4% range, prices have not really moved much.
I think it is probable for the first time in several years we will see a noticeable increase in prices in the Twin Cities area this spring. Don’t get too excited, I’m not talking 20%, I’m thinking more like 5% year over year.
Prices have adjusted to affordable levels, buyers are losing patience with multiple bids, and this tension is exactly what leads to improvement in pricing. Buyers, it is nearly time to take out your escalation clauses…
In my view, now is clearly the time to sell (keep your price very realistic still) and it is probably a good time to buy – depending on how long you want to hold the property.
How much money do I need to save in order to buy my first home in Como Park? There we can research and find MN down payment assistance programs that are available that can help qualified home buyers.
Como Park Down Payment Assistance
Most of the programs for down payment assistance are especially designed around the needs of the first time buyer. Each has its own set of qualifying guidelines. Some of these program guidelines include things like maximum income, debt versus income ratios and more. You will want to check with a mortgage professional who can help review your eligibility requirements.
One of the better programs for entry cost assistance is now available in Como Park as well as all cities and counties in MN. The Minnesota Housing Finance Agency offers the HAF program which can help with between $3,000 and $4,500 of assistance. This entry cost assistance comes in the form of a 2nd mortgage but has no interest rate and no monthly payments to make. One benefit to HAF is that it can be used along with other city entry cost assistance programs when available.
Como Park Down Payment Assistance Programs
One of the better assistance programs is currently available in Como Park as well as throughout the state of Minnesota. The Minnesota Housing Finance Agency offers a great program called HAF which includes up to $4,500 of entry cost assistance. This assistance comes in the form of a second mortgage with no interest and requires no monthly payments. The other great thing about HAF is that it can usually be layered in combination with other entry cost assistance programs when available in various communities.
Como Park Home Stretch Workshops
Most down payment assistance programs in Minnesota have a requirement that must get a certification through a class for first time buyers. You will need to plan for a one-day classroom training and it is is offered through several community agencies Dates and times for the classes vary but are available evenings and weekends. If you are using a local community down payment assistance program be sure to find a class that satisfies both the state and local community program guidelines. Registration is simple and can be done 24 hours a day because you can register for the Home Stretch Workshop on the internet.
MN First Time Buyers First Step
For many Minnesota first time home buyers the big, intimidating question is where do I start the process? Your first step to home ownership is to get pre-approved for a mortgage. In so doing you will find out how much you are qualified for so that we can search for homes in the right price range.
Selling a home today in Phalen can be a big challenge, especially considering that nearly half of the competitive listings are short sales or foreclosures. Real estate values have been declining in part because of the lower asking prices offered through banks who need to bring down their real estate owned inventory. Roughly half of the sales in today’s MN real estatemarket has come from non-bank home sellers. Are you looking for help to sell your home listing in Phalen?
Why Use A Realtor To Sell Your Phalen Home?
It’s never been more important to work with a Phalen real estate agent who understands recent trends in market values. When we visit your home as a Realtor to complete a market analysis, we will compare all of the features and benefits of your property to the competing homes for sale in the area. We need to look at all of the properties that have sold within the past few months to see what the actual sales prices have been. By doing so we can estimate what price a home buyer might pay for your home listing within a reasonable period of time on the market.
One of the challenges for many sellers today is in trying to get enough for their house to pay off the their current mortgage. If a home seller owes more on the mortgages for their home than what we can sell it for we will either need to discuss paying the mortgages down, going through the process of a short sale, or listing the current house for rent and in order to move to another one. With the quickly rising rents in today’s market, sellers are quite often finding that they can cover all of the resulting expenses for the house through their renter’s income.
Lenders have specific guidelines to follow for those Phalen home sellers who have made the decision to rent out their house to buy another. Depending on the equity that you have in your home, a mortgage lender may or may not consider the rental income you receive when they qualify you for the new mortgage. The only way to know this is to call a lender to get preapproved.
Once we have a chance to meet to discuss the value of your current home it is important that you go through the process of getting preapproved for a mortgage loan. Your mortgage broker can help you decide whether you should rent out or sell your current house. The process of mortgage preapproval is is usually free and contains no loan obligation. A good mortgage banker will be able to analyze all of the options available to you such as through MN FHA loans, Conventional, VA, or other types of mortgage financing.
Phalen Neighborhood Information
The Payne Phalen neighborhood of Saint Paul is sometimes known as the “Greater Eastside”. Nearly a half-million visitors are attracted to the lovely Lake Phalen each year, one of the largest lakes in Saint Paul. Just a few blocks from downtown Saint Paul, Payne-Phalen residents enjoy a quick commute to many major employers. With a variety of affordable Phalen homes for sale, this is an ideal neighborhood for the MN first time home buyer.
Ready to Get Started?
If you would like to learn more about the process of selling your Phalen home call me. I will work with you to complete a market analysis of your home for free. We will discuss all of your available options based on today’s market. Feel free to send me an email or give me a quick call
The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of
Minnesota, Inc. All real estate listings are marked with the Broker ReciprocitySM logo, and detailed information about them includes the name of the listing brokers.
Information deemed reliable but not guaranteed.
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