Like the last Census, Minnesota continues to lead the country in homeownership rates. See article below: 10 states ranked by high, low homeownership rates Share ranges from 53% to 73% By Inman News By 24/7 WALL ST The dream of owning a home has become increasingly unattainable for many Americans, and the situation is…read more
Today’s Star Tribune article explains the recent changes to Minnesota State law that will effect nearly all property owners in the State. Unfortunatley when our governor and legislature compromised on a budget deal, the property tax issue was a piece of the deal that was not readily understood until just recently. The bottom line.. property…read more
Bankrate.come just released a closing cost estimate by state. Out of the 50 states, Minnsota has the 17th highest closing costs based on a hypothetical example of a $200,000 priced home and 20% down. New York has the highest closing costs in the nation. http://www.bankrate.com/finance/mortgages/2011-closing-costs/closing-costs-by-state.aspx
Today’s article from Builder Magazine compares new home sales versus existing homes. According to the 2010 Census, this past year posted the lowest new home sales transactions since data was collected in 1963. Although not good news for builders and developers, buyers looking to build new will continue to find enticing properties and deals in…read more
Not all home improvements have a positive return-on-investment (ROI). What may be appealing to one buyer can be offensive to another. The following is a list of improvements to avoid: Many people, often working under the assumption that all renovations increase the value of a property, spend thousands of dollars on expensive upgrades, changes and…read more
4 Bedrooms for the Price of 4 Wheels – Yahoo! Real Estate via 4 Bedrooms for the Price of 4 Wheels – Yahoo! Real Estate.
The recent proposal to reform Fannie Mae and Freddie Mac could have major implications on future homeowners, as well as sellers. Although it is likely to be years before any changes are implemented, the ability to finanace a home could be much more difficult in the years to come. How Buying a Home Is Likely…read more
As we continue to regain traction in the housing market, 2010 will be a year many builders would like to forget. This past year, building activity was at its lowest in 47 years across the country. Continued tighter lending standards, lack of consumer confidence, and higher than normal unemployment rates kept new housing construction at…read more
Today’s link provided 10 ways homeowners can increase the energy efficiecy of thier homes. Although the energy efficiency tax credit expired with the new year, many improvements are worth pursuing as they will save money over the life of the home. In the upper Midwest, most homeowners seek to reduce their heating costs in the…read more
If your like many homeowners, you recently received your 2011 property tax statment in the mail this past month. Like most homeowners, the value of your property decreased..however many households found thier property taxes increasing! It doesn’t sound fair I know, however some municipalities such as Minneapolis have really socked it to homeowners, many experiencing…read more
