What Were You Doing 70 Years Ago

If you were alive 70 years ago you remember exactly where you were when you heard the news that Japan had attacked Pearl Harbor.

And who could have looked forward and even thought that Japan would now be our ally.

History and time are fascinating!

Be Thankful Interest Rates Are So Low

Imagine that in October 1981 that a 30 year conventional was 18.5% with the bank requiring 3 discount points.

And today around 4% for the same mortgage with no discount points.

Could that be considered a WOW!

Be thankful for low interest rates

Well, if you are able to purchase a home then interest rates are so very good that choosing to rent because of fear of the real estate market while understandable it still comes down to "you have to live somewhere so why not pick out a location that you like and buy a home".

To figure your payment there is, at current rates, a way to estimate you payment. If the price is $150,000 then you lop off the 3 last zero's and multiply the remaining numbers times 7.5. So 150 times 7.5 equals a payment of $1125.00 per month approximately. Not exact of course but a quick figure. And of course if you put a lot of money down then the payment goes down.

Call me 612 597 1646 and I will figure out the exact number.

Bloomington MN Statistics 2010 compared to 2011

Well, it is possible to gain all kinds of information from the Minneapolis Area Association of REALTORS. www.mplsrealtor.com Stop by and take a look.

The advent of the computer has allowed data to be compiled and used.

And as Mark Twain said "there are three kinds of lies: lies, damned lies, and statistics'".'

Taxes, Death, Change and Loan Modification

Well, taxes and death are the two things said to be certain and I would suggest that change is another certainty. We had become spoiled by a decade of prosperity from 1997 to 2007 and I would compare it to the roaring 20's of the 1920's. As a real estate agent I was showing homes full of dreams and expectations and now I am often showing vacant homes in need of repair.

If you are among the people that have a mortgage that is too big for you to handle there are programs that might be able to provide relief. I have found that forums can help you ask questions and read what other people have done. You will need a big dose of patience should you decide to deal with your mortgage company.

And if you would like to talk please call 612 597 1646.

Thank you for your time today.

Well, at this moment, 11/15/ 11am, I am attending an auction, along with 1000+ people, for MN real estate that is being held in Minneapolis over the next two days. Over 500 houses with be sold in 2 days.

They post a dollar amount called Previously Valued To and the winning bids range from 30% to 105% of the PVT with most being around 50% of the PTV. And the prices seem to be higher than expected say the two investors I am representing.

Affordable Housing

So where are all the people that were vociferously stating the need for affordable housing? You heard them on the radio and read about their fears in the newspaper. They should be shouting from the roof tops that we now have an abundance of affordable housing. But I don't hear their voices and I wonder why.

Housing is affordable!!!

There is mortgage money [fixed rate for 30 years] that in many cases has a down payment of 3%!!!

Did they go away because they make a living being an advocate for affordable housing and when there is no need then they switch to another paying cause? Who knows for certain but I do know there is affordable housing.