Minneapolis First Time Home Buyer

Right now is the time to act.  If you are a first time home buyer, then you should consider purchasing your home in the next 6-12 months.  Right now 41% of the homes on the market are foreclosed properties.  These properties on average sell for 20-40% less than traditional homes that people live in at the time of sale.  Foreclosures are expected to increase 34% in Minneapolis over the next year. This is creating great opportunities to build wealth through real estate. The federal government is considering lower interest rates on FHA loans to 4.5%. In addition, there is a federal tax credit of $7500 for first time buyers. This is money you can use to fix up the place. This is an extremely low interest rate that can save you hundreds of dollars a month and thousands of dollars over the life of your loan. I just sold a very nice 3 bedroom 1 bathroom house in Northeast Minneapolis for $95,000. The house was build in 1991, has a completely unfinished basement in excellent shape. He is going to live there with a few friends and after his income from rent he will live for free and could make $450 per month. Right now, this is the smart thing to do. People are losing jobs, and it is getting very difficult to make money. You want to lower your costs as much as possible. Right now you can own a house for less then you pay in rent! Call me today for eight free home showings in Minneapolis. If you’re a first time home buyer in Minneapolis call me today.