Where are all the Twin Cities Houses for sale?

Inventory is dramatically shrinking and it is commonplace in many markets to have multiple offers on a home. While the sellers would prefer to be able to choose the best offer for them, it can be incredibly frustrating for the buyers who might consider the following tips to get their offer accepted. 1. Remove the uncertainty that you may not be approved for a mortgage by having a pre-approval... [Read more]

Minneapolis Communities and Neighborhoods – Minneapolis Homes & Minneapolis Real Estate

There are eleven communities in the city of Minneapolis each of which is divided in several neighborhoods. Officially, there are 81 neighborhoods of the city. Below are the communities and neighborhoods of Minneapolis. Calhoun-Isles is an affluent, upscale area of Minneapolis that is situated southwest of Downtown. It is where the Uptown district is found. Most of the nightlife, restaurants and upscale... [Read more]

Minneapolis St Paul Renters Want to Buy

Fannie Mae, in a recently released study http://www.fanniemae.com/portal/research-and-analysis/housing-quarterly.html , states that consumer attitudes continue to be favorable about homeownership, particularly with the younger generations, ages 18 to 34. Slightly over half of them think that owning makes more sense than renting when comparing the financial and lifestyle benefits. 90% of aspiring owners... [Read more]

Mpls St Paul Home Values–What’s It Worth?

How much is a one carat diamond worth? Anyone who has shopped for one knows that the price could have a significantly wide range of value. It’s been said that purchasers should consider the color, cut, clarity and carat size to compare stones but when it gets down to decision time, buyers still want to know “how much is it worth?” Real estate valuation can be equally as confusing to the... [Read more]

Minneapolis St Paul Homeowners – Will the “Good Life” Be Ready When You Are?

The Life of Riley was a TV show from the 50’s starring William Bendix but the title’s origin came from an expression meaning that a person was living the “good life.” Most people envision themselves living the good life by retirement but don’t really have a plan to get there. There’s a rough rule of thumb used to estimate how much net worth a person would need by the time they retire to... [Read more]

Solution To A Wet Twin Cities And All The Rain

Just Watch The Video & Enjoy: Powered By WP Footer Read More →

Breathe Easy Twin Cities

The benefits of regularly changing the heating and air-conditioning filters are obvious to homeowners; the real challenge is creating a system to make sure it gets done. A reasonable schedule would be to replace it with a new one-inch pleated filter every 60-90 days. Households with shedding pets should consider replacing them every month. Some people change their filters every month when they pay... [Read more]

“Please take our offer…” Minneapolis, St Paul, Edina Home Buyers Find it Difficult to Purchase a Home

It’s interesting that the housing climate has changed so quickly. Some buyers, who think they’re still in the driver’s seat, find the market is now going up and they’re losing the home that they really want. Multiple offers are increasingly more common and buyers are frustrated because even full-price offers don’t guarantee that they’re going to get the home. In an effort to personify... [Read more]

Home Energy Audit-Consider getting one

I just had mine done. I learned a lot. I would recommend it to everyone. I am going to take the information and make some corrections which will save both energy and money. Powered By WP Footer Read More →

Shifting Debt to Tax Deductible-Something To Discuss With Your Tax Professional

The Mortgage Interest Deduction is available to homeowners for up to $1,000,000 of acquisition debt on the combination of their first and second home. They can also deduct interest on up to an additional $100,000 of Home Equity debt. While Acquisition Debt is used to buy, build or improve a principal residence, the Home Equity Debt can be used for any purpose. It can be used for educational or medical... [Read more]

Boomerang Buyers-This is the gas on the fire for the continued boom of the Twin Cities Real Estate market

It’s estimated that 10% of the homes sold in 2013 will be to buyers who lost a home in the past five years. Approximately 500,000 buyers who may have thought they wouldn’t own a home anytime in the near future will be homeowners again. It’s estimated that several million of these previous homeowners will purchase again in the next eight years. This kind of activity will contribute... [Read more]

Bunch Your Property Taxes and Save-An Idea To Think About

One of the drawbacks to low mortgage rates is that the total interest and property taxes paid for the year may be lower than the standard deduction. A little planning might be able to help you at least every other year. Most homeowners know they can deduct their qualified mortgage interest and property taxes on their Schedule A of their 1040 tax return or to take the standard deduction if it is greater.... [Read more]

Different Real estate for Sale

This was an interesting story I happened to come across by accident. Did you know various people have claimed ownership of the moon? Of course, they then built a business around selling the associated real estate. Read more this at Wikipedia and then watch the video. Was PT Barnum correct? You decide. http://en.wikipedia.org/wiki/The_Man_Who_Sold_the_Moon Powered By WP Footer Read More →

Where can you get a credit report?

I am often asked about where you can obtain a credit report. There are MANY places and most will have a charge associated with the report. The only one that I am aware of that is free is at http://www.annualcreditreport.com This site is actually sponsored by the three bureaus-Equifax, Transunion, and Experian. It is my understanding that the “annual credit report” free option doesn’t provide... [Read more]

Minneapolis St Paul Foreclosure Trends

As a subscriber to Realty Trac, I offer a monthly newsletter that they compile with local market data. Would you like to read it? Simply visit http://www.realtytrac.com/MarketTrends/NewsLetter.aspx?guid=754f6e36-211e-40b5-93c6-2beba87b2b46 and read the report. I can data mine the MLS and create a custom search for you should you be interested in purchasing a distressed sale. The market is stronger... [Read more]

Cool Video About St Paul Minnesota

The city of Saint Paul MN has produced some amazing videos. Check them out. St Paul is the sister city of Minneapolis. Powered By WP Footer Read More →

Maintaining Comfort-Twin Cities In The Summer & Winter

Some people refer to the heating and air conditioning systems as the “comfort systems.” If you’ve ever had to be without one in the dead of winter or the heat of summer, lack of comfort may be an understatement. Simple maintenance with a HVAC checklist is something that every homeowner can perform. Periodically * Change your filter every... [Read more]

Analyze Investment Property-See if a Minneapolis St Paul Area Rental Property Makes Sense

I have recently completed the OwnAmerica renting course and got their OICP certification. They have some GREAT tools and insight that will make you a better investor. Taking their online class via my link below. I forgot to mention the cost-FREE!!! You will definitely benefit from using these tools in your analysis. https://ownamerica.infusionsoft.com/go/REMAXIC/a4325/ Powered By WP Footer Read More →

Using an IRA to purchase real estate-Learn how it is done

Many people have no idea this is possible. I have helped clients in the Twin Cities build a portfolio of investment properties using this strategy. One of the trust vendors has provided this informational outline and a video. I have also included links to other trust providers so that you can learn about this concept: Self-Directed IRA Investing 101 – Investing Passively and Actively in Rent Homes... [Read more]

Your Deduction…Your Choice

Taxpayers are allowed to decide each year whether to take the standard deduction or to itemize their deduction when filing their personal income tax returns. Roughly, 75% of households with more than $75,000 income and most homeowners itemize their deductions. The 2012 standard deduction, available to all taxpayers, regardless of whether they own a home, is $11,900 for married filing jointly and $5,950... [Read more]

Interest rates – a historical perspective

We always here that “rates are lower than they’ve ever been”. In most cases that is true. Rates have been progressively declining. Freddie Mac actually has a 10 year chart that will demonstrate this on a month to month and year to year basis. You can find the data here for 30 year loans- http://www.freddiemac.com/pmms/pmms30.htm In today’s fast market, you will find that... [Read more]

Time is a Finite Resource-Use it wisely

Every day I am reminded of the one thing we all must manage-it’s our TIME. How we choose to spend it is somewhat within our control. A friend of mine who runs a painting company wrote an article about “Your Weekend”-Do it yourself or hire a professional. I think it is an important read. In fact, it has applications that apply to other activities besides painting. Priorities. Choices. Quality... [Read more]

Twin Cities Low Housing Inventories Indicate a Trend in Minneapolis & St Paul Homes

Low inventory is a relative term depending on how you’re comparing it. Would the comparison be to total number of homes on the market last year, homes in a certain price range or homes in a certain area? In some situations, it’s a combination of all of those things. In any given market, inventories will fluctuate based on area and price range. The National Association of REALTORS® considers... [Read more]

RE/MAX 40 year convention in Las Vegas

I just returned from my first RE/MAX convention. I have been with RE/MAX for 17 of my 27 years selling real estate, but this was the first time I had decided to attend their convention. All I can say is “Wow”. The people, the events, and the information was terrific. The show “KA” at the MGM was pretty amazing as well! I am excited to be back at work and have started to apply my new... [Read more]

Twin Cities Homeowners Refinancing Again? Think about it.

We’re constantly bombarded by lenders to refinance our mortgage under a variety of programs. The volume of offers can almost make you numb to the rational consideration. There are common rules of thumbs that homeowners and agents use such as not refinancing more often than every two years or there must be at least 2% savings from your previous mortgage rate may not always be accurate. Rules like... [Read more]

Twin Cities First Time Buyers

This video is typical of a first time buyer I work with that has recognized the opportunity in real estate today. Many many of my friends started off with an owner occupied duplex and later leveraged that into substantial wealth. I am aware of many special loans and grants that might help you achieve home ownership. Let me help you make the right decision for yourself and family. Sincerely, RE/MAX... [Read more]

Twin Cities Homes Sell Better When Updated with a Fresh Coat of Paint

Article provided by: Jerry Fancher Fresh Coat Painting Need a painting idea for your home? Whether you are looking to freshen up a room or trying to increase your home’s resale value, a fresh coat of paint can work wonders. Once you have an idea of what you are looking for in a new look, talk to your painting contractor to work out the details to put you on your way to a dream room. Here are four... [Read more]

If It Shows Better… – 2/18/2013

If it shows better, it will probably sell faster and maybe for more money. Once your home is on the market, it’s time to look at it like a commodity and through the eyes of potential buyers. In all likelihood, you’ll need to take care of these items eventually, so do them now to help it sell sooner. 1. Make repairs – it doesn’t matter if it’s been that way since you bought... [Read more]

RE/MAX Convention is next week in Las Vegas-Turning 40!

I have been with RE/MAX for 17 of the past 27 years. I can honestly say I work with some of the best in the business. I wouldn’t want to sell homes with any other company. From the people, the resources, the support-it really is a wonderful environment. If you are an agent or consumer, I encourage you to take a look at what they have to offer. Below are some videos from our founder that give... [Read more]

FHA Loans Getting More Expensive-MIP Will Last Longer Than Previously Insured Loans

The 3.5% down payment on FHA loans could be more expensive for buyers than expected. Beginning April 1, 2013, the mortgage insurance premium will go up by .1% to 1.35% which may not even be noticeable to most would-be homeowners. The staggering increase will occur on 6/3/2013 when FHA’s policy on the duration of the required mortgage insurance will be increased for the life of the mortgage There... [Read more]

Before You Leave Home…Action Items To Consider

The last thing you want to do while you’re on a trip is to worry about someone burglarizing your home. Use this checklist to add some peace of mind to your travel plans. • Ask a trusted friend – to pick up your mail and newspaper and keep the yard free of trash and advertisements. Stop your mail but maybe not your newspaper – you can easily handle this online by going to the US... [Read more]

Watch This Video About Disability And Bad Attitude

WOW. Another video that makes you think. How many times have we seen people who have had more obstacles to overcome than most go on to achieve wonderful things? You may have heard the quote regarding attitude and altitude. This video once again demonstrates how we each have our own set of issues and how we choose to deal with them determines outcome. Powerful stuff. Always puts things in perspective Sincerely, RE/MAX... [Read more]

Reverse Mortgages For Purchase Available In MN

I just met with a long time mortgage originator who is offering reverse mortgages for the purchase of a primary home. This is very exciting as not many companies offer this as a mortgage option. Now, a senior who is 62 years old has another financing option available to them. Attached are the information sheets that I received from the lender that will explain the program. Please contact them... [Read more]

What’s It Going to Take For You To Be Convinced Of Homeownership?

How much evidence is needed to make a decision to get out of the rent race and become a homeowner? Compare your rent with a mortgage payment on a similar size property. If you want a larger home than your current one, use the rent that property would require instead of what you’re currently paying. If it’s considerably cheaper, you may not need any further encouragement. By the time you... [Read more]

Selecting The Right Color Paint

Have you ever picked a color from the myriad of paint samples available, put it on the wall and decided that it was all wrong? It shouldn’t have to be that difficult but trying to pick the perfect color from those little swatches is just not that easy. Painters and decorators suggest you buy a small amount of the colors you’re considering. Your paint store should be able to mix them in... [Read more]

Top Ten Housing Predictions for 2013-Let’s See What Happens

Hope he’s right. Sounds very encouraging: Sincerely, RE/MAX Results John Mazzara Broker Associate CFP CLU ChFC CEBS MBA MS CMB 7300 France Ave S #410 Edina, MN 55435 John@johnmazzara.com http://www.MinneapolisStPaulHomes.com 612-386-7027 952-929-2577 How Can I Help You? Powered By WP Footer Read More →

Sooner is Better than Later-Twin Cities buyers shouldn’t wait

Buyers who have delayed purchasing a home due to concerns about what might happen to the tax laws affecting home ownership should feel comfortable about getting back in the market. The recent legislation passed by Congress and signed by the President continues to value homes as a favored investment. For a summary of specific real estate provisions in the “Fiscal Cliff” bill, click here... [Read more]

Mortgage Forgiveness Act-Report For YOU

The attached report will cover some of the highlights of the extended program. If you find that you or someone you know is in need of some information regarding options that might be available for them if they are “underwater” on their loan, then share this report. EVERY situation is different. Please call me to discuss yours and I will try my best to help wherever I can. There might be... [Read more]

Get Your Offer Accepted-Tips to buying a home in the Twin Cities real estate market today!

As the market shifts from a buyer’s market, it’s good to know how to improve your chances to have the seller accept your offer. Once you decide on a home, don’t waste time; write an offer and submit it as soon as possible. Competing with another buyer happens more frequently than you’d expect. Multiple offers are a seller’s advantage but here are some tips to level the... [Read more]

Bloomington Homes-Minnesota Home Improvement Money Available

One of the things I try and do is monitor the various city programs for opportunities for my clients. I just got the email from the City of Bloomington announcing some of their home improvement funding. More can be learned from visiting their site at http://www.ci.bloomington.mn.us/cityhall/commiss/hra/hra.htm It might be worthwhile looking into this if you have an upcoming project you’d like to... [Read more]

How “Healthy” Is The Minnesota Unemployment Picture and how might it affect our Twin Cities real estate market going forward?

Have you ever wondered “will property increase in value in the future”? Here is one metric to consider-the unemployment rate. Here is a link to Minnesota’s information. http://www.deptofnumbers.com/unemployment/minnesota/minneapolis/ You need a job to buy a home. More jobs=More people who can purchase a home. The Twin Cities employment markets are healthy. We do have unemployment, but we have... [Read more]

Mortgage Insurance Deductibility and 2013

Yipee. Mortgage insurance is going to be deductible again in 2013. See the rules and see if you qualify, as not everyone or every type of insurance is eligible. Here is a link: http://www.mgic.com/ordering-mi/tax-deductible.html Powered By WP Footer Read More →

Mortgage Tax Forgiveness Act Of 2007 Extended For 2013

Yes it is true. Under CERTAIN instances, you may have a short sale or foreclosure and not incur the tax on the amount of mortgage debt that was forgiven. NOT everyone can qualify. For those that can, what a relief. Tucked in the Fiscal Cliff negotiations was this provision. So, you still have one more year. If this is something that you’d like to discuss as it may relate to your situation,... [Read more]

Minnesota 2012 CRP forms

If you are a tenant or a landlord, you will want to get on the CRP forms for 2012. Here is a link to the state of MN department of revenue where you can find the forms. These need to be delivered by end of January, 2013 for 2012 rental year. http://www.revenue.state.mn.us/Forms_and_Instructions/2011/crp_ldin_12.pdf Sincerely, RE/MAX Results John Mazzara 7300 France Ave S #410 Edina, MN 55435 Off-952-929-2577 Cell-612-386-7027 Fax-952-928-3799 Google... [Read more]

Homeownership Rules

Most people agree that homeownership rules! When asked, people say they want a home they can call their own, to raise their family, share with their friends and to feel safe and secure. It also accounts for the majority of most people’s net worth. These rules can help protect your investment and make homeownership more enjoyable. Don’t overpay for your home Maintain your home’s condition Minimize... [Read more]

Which Value Do You Use?

What your home is worth depends on why you ask the question. It could be one value based on a purchase or sale and an entirely different value for insurance purposes. Fair market value is the price a buyer and seller can agree upon assuming both are knowledgeable, willing and unpressured by extraordinary events. This value is generally indicated by the comparable market analysis done by real estate... [Read more]

Deductible Is the Point

Points refer to prepaid interest on a home mortgage and can be fully deductible by the buyer in the year paid if the right conditions exist. The points must be used to buy, build or improve a taxpayer’s principal residence but not all fees charged by the lender are necessarily deductible. According to IRS Publication 936, “The term ‘points’ is used to describe certain charges... [Read more]

Second Homes Treated Differently

While a principal residence and a second home have some similar benefits, they have some major differences. A principal residence is the primary home where you live and a second home is used for personal enjoyment while limiting possible rental activity to a maximum of 14 days per year. The Mortgage Interest Deduction allows a taxpayer to deduct the qualified interest and property taxes on a principal... [Read more]

In Search of an Honest Man

Similar to Diogenes’ search for an honest man, homeowners want someone to do quality repairs at a fair price. The task appears reasonably easy but if you’ve ever tried to locate someone to fix something, you know just how difficult it is. Finding a list of companies from a phone book doesn’t mean they’ll be reasonable and reliable, it just means they have a phone and are willing to pay for... [Read more]

This Song is Powerful – Listen and Share

I was driving in my car today and heard this song. I thought of all of my friends who are veterans and have sacrificed so much for each of us. Listen to the song and see if it impacts you as much as it did me. Sincerely, Isn’t it nice to know that you have a friend in the business that you feel comfortable introducing to your friends, family members, and neighbors who could use my help. RE/MAX... [Read more]

Retirement Home Now?

Maybe you’re not ready to move into it but that doesn’t mean that you shouldn’t take advantage of the present opportunities to acquire the home you want to live in during retirement. The combination of the low interest rates, reduced prices and lower competition may never be this good again in our lifetimes. The rental market is strong and a tenant could pay for your retirement home.... [Read more]

Managing Deductibles On Insurance

The purpose of insurance is to shift the risk of loss to a company in exchange for a premium. Most policies have a deductible which is an amount the insured pays out of pocket before the insurance starts covering the cost of the loss. In the process of managing insurance premiums, policy holders often consider adjusting their deductibles. Lower deductibles mean less money out of pocket if a loss occurs... [Read more]

Single-Family Homes for Rentals

Single-family homes used for rental property have distinct advantages over other types of investments. An investor can borrow 75-80% at fixed interest rates on appreciating assets with definite tax advantages and reasonable control. The financing alone is attractive compared to some investments that require 50% cash and have floating rates at prime plus for one or two years. Home prices have adjusted... [Read more]

Star Spangled Banner-Happy 4th of July

Our American flag is obviously the symbol of our country but it has come to remind us of every man and woman who has fought for the freedom that we enjoy. The emotions that are stirred by images of our flag can run from happiness to sadness to even anger and everything in between. Most of us learned basic flag etiquette when we were young but occasionally, it is a good idea to review the procedures... [Read more]

If I’d Only Bought-Will you have a Coulda-Woulda-Shoulda moment?

We’ve probably all said or at least thought “if I knew then, what I know now, I would have done things differently.” We should have stayed in school longer. We should have listened to our parents. We should have bought Apple stock in 2002 for $8.50 or gold in 2000 for $300. Years from now, if we look back at 2012, it may be clear that this was the best buyer’s market ever. The... [Read more]

Rent Vs Own? Consider doing an Analysis

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Gift or Inherit

Transferring the title of a home from one person to another may seem simple but it could have a significant tax implication. When a person inherits property, the basis is “stepped-up” to fair market value at the time of the decedent’s death. On the other hand, a gift has a carry-over basis which means that the recipient receives the unrealized gain also. As an example, let’s... [Read more]

Pre-approval Gives Everyone Confidence

The benefits of buyer’s pre-approval are without question; it is good for the buyers, the sellers and the agents. It saves time, money and removes the uncertainty of knowing whether the buyer is qualified. The direct benefits include: Amount the buyer can borrow decreases as interest rates rise Looking at “Right” homes – price, size, amenities, location Find the best loan... [Read more]

Paul Harvey said this in 1965!!!!!!

Be prepared to be blown away. Fast forward to today. Powered By WP Footer Read More →

Twin Cities Real Estate Market

Ever wonder what’s happening? Here are the statistics for our metro area. Homes are selling, prices are moving up, and there is a lack of inventory. If you are considering selling, now is the time to do it. If you looking to purchase, rates are again at a 50 yr low. Don’t wait-Look at doing something now. Pin It Powered By WP Footer Read More →

Just a thought-What loan term is right for YOU?

Whether you’re refinancing your current home or buying a new one, something worth considering is a 15 year loan rather than a 30 year term. The payments will be a little higher but you’ll get a lower interest rate and you’ll build equity much faster. Let’s look at an example of a $200,000 mortgage with the choice of a 30 year term with a 3.75% rate compared to a 15 year term... [Read more]

It’s Worth Checking Out-Your Tax Assessed Valuation-Is It Accurate?

“Anyone may arrange his affairs so that his taxes shall be as low as possible…for nobody owes any public duty to pay more than the law demands.” Judge Learned Hand This opinion refers to federal income tax but the logic and spirit can easily be applied to any tax including property tax. Most property tax is based on a valuation called an assessment placed on the property by a government... [Read more]

Tax-Free Income-An Idea That Might Work For You

Some residents of Augusta, Georgia have purchased tickets to the Master’s for years but have never attended the famous golf tournament. It’s because they include the tickets as a bonus to the people who rent their home during the event. Each year, owners rent their home for a big premium during the Masters and make tax-free income. Homeowners benefit from a little known provision in the... [Read more]

Save Money…Be Comfortable

Automatic thermostats can lower your monthly utility costs while conveniently regulating your comfort by adjusting temperatures on your heating and cooling systems. These can be particularly effective in homes with zoned systems where you live in one area during the day but sleep in a different zone. There are programmable thermostats available at home improvement stores that can make the adjustments... [Read more]

How does RE/MAX compare against it’s peers?

It is no surprise to me-RE/MAX is the leader. See for yourself why RE/MAX is the company of professionals. If you want to see how we can help YOU-give me a call at 952-929-2577 Pin It Powered By WP Footer Read More →

Have You Backed Up Your Home?

Personal computers have been around long enough that everyone has experienced or knows someone who has lost their data due to a hard drive crash, accident or burglary. If they had a backup, the loss was inconvenient but not critical. Do you have a backup for your personal belongings? Not that you need duplicates of all the items but do you have a journal listing of all the items with a description... [Read more]

MID Limited per Residence

A recent U.S. Tax Court ruling clarified the IRS position that the $1.1 million limit for mortgage interest deduction applies per residence and not per taxpayer as some high-priced homeowners were hoping. A married homeowner filing jointly can have fullly deductible interest on a mortgage of up to $1,000,000 of acquisition debt and up to an additional $100,000 of home equity debt. If the married couple... [Read more]

Before You Call the Repairman-Things you can try

Have you ever had a service company to your home to repair something and find out that it really wasn’t “broken”? It probably conjured up ambivalent feelings of joy that it wasn’t something serious and frustration that you had to pay a service call for something so simple. Before you call the repairman next time, keep these things in mind to see if it is something simple: Disposer... [Read more]

Foreclosed Home Fix Up Loan

Did you know that many of the cities in the Twin Cities metro area are offering rehab loans and/or grants if you buy a foreclosed home and fix it up? Bloomington just released their program details in the attached brochure. I have a client that is going to use some neighborhood money in Minneapolis for rehab as well. I can generate a coupon from Lowes for up to 1K (10% off of purchase of up to 10K)... [Read more]

Choose Your Deduction – Just In Time For TAX TIME!

One third of all U.S. households, 75% of households with more than $75,000 income and most homeowners itemize their deduction on their federal income tax returns. It makes sense because the interest paid on their mortgage and their property taxes probably exceeds the allowable standard deduction. However, with interest rates as low as they have been in the last two years and the price of homes having... [Read more]

Don’t Miss the Recall-you might want to bookmark this site

Occasionally, you hear about an important recall on a product you have and you take care of it immediately. However, if you were to miss such a notice, it could put you or your family in jeopardy. You can subscribe to the U.S. government’s service to notify the public when recalls are made on vehicles, tires and child restraints through the National Highway Traffic Safety Administration on their... [Read more]

Embrace Your Day

Watch this little dude do his thing. If we all approach our day with as much confidence and excitement, we can’t help but have a better day. Pin It Powered By WP Footer Read More →

Foreclosure trends in the Twin Cities

Check out my newsletter with foreclosure information about Minneapolis/St Paul and surrounding areas. Pin It Powered By WP Footer Read More →

Positive Signs In The Real Estate Market

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What Happens When Mortgage Debt is Cancelled?

The Mortgage Forgiveness Relief Act of 2007 was passed by Congress to avoid additional financial hardship that some homeowners might experience due to a foreclosure or short sale. The law affects mortgage relief that occurs from January 1, 2007 to December 31, 2012. Normally, IRS considers partial or total debt forgiven by a lender to be treated as ordinary income. This not only affects foreclosures... [Read more]

Another Indication –The Market IS picking UP!

The Housing Affordability Index was developed over thirty years ago to help consumers determine when it is a good time to buy a home. It’s considered advantageous to the buyer when the index is over 100 because a median income family can qualify for a median price home. Recent figures released by the National Association of REALTORS’ economic department show that the 2011 index of 184.5... [Read more]