St. Cloud, MN - Real Estate Blog

As we went through the spring market and into the early summer months, we have had enough sales to cover the amount of foreclosed properties that were coming onto the St Cloud MLS.  We have averaged 325 active and pending foreclosures on the St Cloud MLS since January of this year.  Yesterday, when I pulled the foreclosure search for a potential client, I noticed that the total had crept up to 350+.

This excess of foreclosed properties is not a good thing for our market.  I think the best thing that could happen is that we sell them off at a fairly quick rate.  I know that it isn't great news for people who are trying to sell their homes, but we need to get the vacant properties moved so that our home builders can start on new properties in the future.  We have a lot of people sitting idle in Central MN just waiting for this housing lull to pass so that they can resume work.

If you are on the fence about buying a property, I highly suggest talking to a real estate professional about what is going on with the market. 

1)  I can think of several great potential purchases for a new homeowner that would probably net somewhere between $30-100K in equity to their future owner. 

2)The interest rates are rising slowly and if inflation keeps moving upward with the gas prices, home loan rates will follow suit and go even higher.  

3)Lastly, if you do not have the money set aside to make a home purchase, your chance to get a home with 0% down could be gone by the end of the summer.  The last (non-VA or rural development) 0% down home purchase program is under great scrutiny from both the President and the department of Housing and Urban Development (HUD). 

Those are three reasons that now may be the best time to purchase for quite some time.  Talk to your professional and I'm sure they will give you several more reasons.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud MN

www.StCloudEdina.com - Get a free list of foreclosed properties in Central Minnesota

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

Posted by Jason Tangen at 06:33 AM | Permalink | Comments (0)

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I hate to say it, but I think the end is here.  My guess is that within the next year, we will be back to only one option for 0% down home purchases.  The VA loan.

Am I sad?

Not really.  I think that a lot of people are not meant to be home owners.

Do this hurt the real estate market?

Most definitely.  If we take all of the first time home buyers out of the equation that don't have downpayments, we are left with 4 first time home buyers (a sarcastic statistic - say that 3 times fast).  We already have enough problems with the buying chains being broken by every foreclosure that sells.  If we take eliminate more of the buyer pool, our problems will magnify.

But this isn't really the negative that my last paragraph makes it sound to be.  It is a good thing to pre-qualify people that would like to buy homes.  What better way to ensure that they can handle their money then to make them save some.  If someone wants to buy a home bad enough, they will save the money to get it.  I know that it sounds harsh, but if you really think about it, I think you will agree.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

www.StCloudEdina.com - Search real estate in St Cloud MN

Posted by Jason Tangen at 04:16 PM | Permalink | Comments (0)

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I am so thankful that Hilary Clinton is dropping out of the Presidential race today.  I have two little girls and couldn't be happier that Hillary will not be the first female president of the United States.

Why you ask?

Because if she had succeeded I would need to think of something else to use as an inspiration for my daughters.  Something grand that they could achieve in their lifetimes.  I don't know how many times I have told my oldest that she can be whatever she wants when she grows up - even the first female president of the United States.  With Hillary out of the picture, now this dream is still alive. 

There is just no motivation to the phrase, "You could be the 2nd female president of the United States."  I also wasn't real keen on the "first female on the Stanley Cup" phrase.  Beyond that, most of the things that are generally reserved for just men I wouldn't necessarily want my daughters achieving.

With that, I would like to give a big "Thank you" to Hillary Clinton for finally stepping aside and leaving the dreams of millions of little girls unscathed.  You had us scared for a little while, but now all of my cliché phrases for parenting are still in tact.

Jason Tangen - Real Estate Broker Associate with Edina Realty in St Cloud MN

www.StCloudEdina.com - Get a free list of the foreclosed properties on the St Cloud MLS

http://jasontangen.edinarealty.com -Lakefront and recreational land real estate search in Minnesota

Posted by Jason Tangen at 05:24 AM | Permalink | Comments (0)

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