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Bloomington, MN Real Estate News

By Marzena Melby, Realtor, Twin Cities Minnesota Real Estate
(Coldwell Banker Burnet Realty)
  Single Family Homes March 2009   With the cold spring and current economic woes, real estate market has been sluggish.  However, the activity has been picking up in the recent weeks.  Good news is that the foreclosure homes have been selling and there are fewer of them available.  In general, the inventory has come down and buyers experience a lot more competition now.   Current market activity in West Bloomington:   All homes available for sale: 155 lender owned: 18 non-lender owned: 137   All pending transactions: 40 lender owned: 10 non-lender owned: 30   Sales closed this month: 23 lender owned: 3                   with average sale price of $204,417 non-lender owned: 23           with average sale price of $302,328       If you are looking for market information for condos, duple...
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By Ken Graczak, Loan Consultant - Minneapolis / St. Paul
(LoanDepot - NMLS#174457 - Equal Housing Lender)
I just read that the President should have signed or is signing this bill into law today.  If you don't know, the bill will allow the following for MN deals Conforming loan and VA loan limits will stay the same at $417,000 in Minnesota, but the increase in the FHA loans will become permanent.  ($362,500 in the 7 county metro) Home buyers will receive a $7500 tax credit for qualified purchases between April 8, 2008 and June 30, 2009.  The credit is repayable, which I don't understand, so if you are reading this please comment on this FHA forclosure resuce (available October 1, 2008)- Lenders can write down 85% of the current appraised value and qualified borrowers would get a new FHA 30-yr fixed mortgage at 90% of the appraised value.  The borrower would then have to share 50% of all fut...
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By Michael Kohn
(The Blaisdell Group, LLC)
Over the past month, I have completely focused my efforts on setting a new direction for The Blaisdell Group.  I cannot begin to describe how confident and excited I am about the future prospects of this company.  I am going to go out on a limb and predict that we will be a million dollar company within three years. There, I said it.  There is no going back now... I heard an interesting analogy the other day.  When a ship leaves the dock, the chances of it getting to its destination are close to 100% because the Captain has set a predetermined destination & course before even starting the engines.  If this critical step was not completed first, the ship would be lucky to even get out of the harbor, let alone reach its final destination. That said, here is the course I have set for The B...
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By Michael Kohn
(The Blaisdell Group, LLC)
Welcome to The Blaisdell Group. In late 2002, I founded a new real estate company in Minneapolis, MN.  This new company grew out of an idea I hatched shortly after starting my undergraduate study at St. Cloud State University in 1986.  Everything I have accomplished since has been preparing me to lead the company now know as The Blaisdell Group. Since launching my real estate practice in 1991, I have operated in much the same fashion as most other real estate agents, focusing on one transaction after another.  As the market sagged into the gutter through 2006 & 2007, my business, like many others, suffered greatly.  This downturn forced me to do a complete reevaluation of my business model and what I found horrified me. Over the years, my practice has been structured around a transactio...
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By Marzena Melby, Realtor, Twin Cities Minnesota Real Estate
(Coldwell Banker Burnet Realty)
If you've been considering selling your home, or perhaps you had your home on the market a while ago, this may be your opportunity. I am currently working with a young family looking for a 4+ bedroom two story home that would be in the following price range: $450,000 - $650,000.  We have visited all available the homes that match their criteria, and haven't found one that works for them.  They would prefer a finished walkout basement, but that's not critical. So, if you are considering a move, please contact me as soon as possible at 612-267-6798, or by email:  marzena@marzenamelby.com   If you are relocating to the Twin Cities, contact me for a FREE comprehensive RELOCATION PACKET.   ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Contact Marzena M. Melb...
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By Jerry Clifford
(Remax Results)
The City of Bloomington is on a crusade to clean up the issues of wells not being sealed properly.  Many home owners abandoned the wells and in an attempt to seal it, they stuffed insulation, newspaper, or anything they could find down the tube, and then poured concrete into the pipe.           The city of Bloomington is now in an effort to catch up and enforce the Minnesota statues 1031.205, sub division The City of Bloomington is on a crusade to clean up the issues of wells not being sealed properly.  Many home owners abandoned the wells and in an attempt to seal it, they stuffed insulation, newspaper, or anything they could find down the tube, and then poured concrete into the pipe.The city of Bloomington is now in an effort to catch up and enforce the Minnesota statues 1031.205, sub...
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By Nouk Haschka
(Edina Realty)
  Choose a realtor that you feel comfortable to work with.  Make sure that he or she is a good listener.  Also, make sure that he or she is knowledgeable about the market and the areas that you're looking at. Get pre-approved, so you know exactly how much home you can afford. Ask your loan officer about first time home buyer's programs. go shop for your dream home with your realtor. Do your homework.  Always ask questions.  The more questions you ask, the less surprises you will have. Be prepared for a successful closing.        These are just a few key considerations that first time home buyers need to keep in mind when shopping   for a new home. If you need more information on first time home buyers' programs, please contact me at 612-616-7542 or 952-927-1156 or e-mail me at noukhasch...
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