Residential Associates
Residential Associates
Commercial Associates
Commercial Associates
Sellers
Is Now the Right Time?
It is hard to answer this question as each selling situation is different. When weighing this decision you should ask yourself the following questions.
- Why am I selling my home?
- Where will I be going?
- When do I need to have my home sold by?
- What terms do I need to have in order to sell my home?
Are You Thinking About Selling Your Home?
Sellng a home always has its complexities. Given the current makeup of our Minnesota housing market we find many sellers searching the interenet, wandering through all the information as they weigh their options and try to determine if now is truly the right time. We hope this page will assist you in the gathering of information and knowledge.
At a time when Minnesota sellers are finding more challenges to selling their home we are seeing great success with our out of the box, innovative, non conventional approach. Our agents are trained in marketing your home beyond the traditional platforms bringing you the results you deserve, demand and will be happy with.
Let us work hard for you, contact us today!
Real Estate Trends for the Twin Cities Region
After answering these questions you should speak to a Realtor. Their experience and knowledge of the market will assist you in determining the right course of action.
$6,000 Tax Credit to Assist You:
The Home Buyer Tax Credit is assisting many Minnesota sellers.
Simple overview of the Tax Credit:
- Must purchase a home and use it as a primary residence (less then $800,000)
- Must be in a binding contract to purchase by April 30th and close by July 1st.
- Must have used the home sold or being sold as primary resident for 5 consecutive years out of the past 8 years.
- Your home purchase does not have to be at equal or more in value of the one bring sold.
- Income limits $125,000 - single, $225,000 - married
- Get the full details of the extended tax credit and FAQ
I have heard of a Short Sale, what is it and is it right for me?
Lets say a home owner has a home mortgage of $150,000 but the current value of the home in today's real estate market is $115,000.
If the home owner is in need of selling this Minnesota home, one of the home owners options would be is to hire a Realtor to offer the home for sale at the market value.
A buyer makes an offer on the home for $112,000, the Realtor then works with their client and the bank in getting the bank to accept the offer and ideally the bank agrees to release the seller of any future obligations on repayment of any monies.
Key points of a short sale:
- Work with only Realtors experienced with the short sale process (they cannot give you legal or accounting advice)
- Sit down with your accountant to discuss any issues that might arise if you were to do a short sale
- Sit down with an attorney to gain knowledge on any future implications a short sale may have for you
- Be patient and understand banks are not required to approve your short sale
- Know that it may have a negative effect on your credit and ability to borrow in the future.
- Typically, short sales are for those home owners that have a hardship, are behind on house payments or soon will be and have no additional funding that could assist in the sale of their home
- Short Sale maybe an alternative to foreclosure
The below information is provided by the Minneapolis Association of Realtors
