Expanded Tax Credit Might Make Moving in a MN Winter Worth the Effort

Everyone knows that S word associated with a Minnesota Winter: SNOW! The dreaded elements of the season that scare many "sunshine and warmth" lovers out of our great state do present problems when it comes to moving and selling a home.

But this year if you wait until spring, you could lose out big time. The expanded and extended tax credit for homebuyers will expire in April 2010 just as the warm winds of spring make a comeback. If you are considering a move in the next 6-12 months, listing your home now could definitely be to your advantage.

Here are a few reasons…besides the $6500 tax credit…that might convince you to put your home on the market now:

1. Buyers who look at homes in the winter months in Minnesota are serious about purchasing a house. There are less “snow” tire-kickers when you have to navigate to showings along icy roads.


2. Not all first time buyers could find that perfect foreclosure home this summer. Many would prefer to work with a traditional seller who can provide a history of the home on a disclosure.


3. Buyers like viewing homes where the utilities have not been disconnected, and this is true especially in the winter. As a traditional seller your home isn’t winterized and disconnected like vacant, foreclosed properties. Buyers will definitely feel a warm glow any home with the lights and heat on!


4. Snow can cover landscaping flaws. If fido has left dead spots in the grass, now one will notice.


5. Homes look very festive during the holidays! Of course don’t go overboard with the lights…This means NO Griswold decorating! But tasteful holiday décor will make a house feel more like home.

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Buying a home on St Paul’s East Side? Understanding the Pohlad Family Foundation Homebuyer Program

The Homebuyer Assistance Incentive Program from the Pohlad Family Giving Foundation is the program that everyone is talking about on the east side of St Paul! It is a great program for homebuyers looking to buy in St. Paul’s 55106 zip code and available through the Pohlad Family Giving Foundation. I am currently working with several buyers who are interested in this program and boy are the homes selling quickly in these communities! Every other listing agent makes a point of reminding me about the "$8000 Pohlad money" for the buyer, as if we had not heard of the program. But few ot these agents have delved into the details. Some of the stories about the program are a bit exaggerated or misunderstood. Unfortunately, it is not as simple as a homebuyer purchasing a house and walking in to the Dayton's Bluff Neighborhood Housing Services of St. Paul to collect an $8000 check. That said, this is still an awesome opportunity if you want to live on the east side of St. Paul!
Here are some of the program's highlights:
*The funds up to $8000 are distributed in the form of a 7 year forgivable deferred loan.

*The loan will have an interest rate of 0%.

*Homebuyers must occupy the property as their principle residence for 7 years.

*Single family homes and duplexes purchases are eligible.

*The funds will be distributed on a first come, first served basis.

*It is only available in the 55106 zip code in St. Paul or 55411 zip code in Minneapolis.

* The funds can be used for down payment and/or closing costs including prepaids.

*First time homebuyers will have to take an approved homebuyer education class.

*Successful, prior homeowners will not have to take a homebuyer class.

*Funds are available to both first time homebuyers and previous homeowners alike.

*There is no maximum household income for the program.

*All homes must close prior to December 31, 2009.
If you are a home buyer interested in buying a home in the Dayton’s Bluff area and want to take advantage of this program, you NEED to be working with a REALTOR® and loan officer that understand the details of how the funding will best work for you. Must of the application process is supplemented by information provided from the mortgage lender or loan officer. Be certain that the people you select to work with really understand how the program works so you don’t miss out on this opportunity.

Copyright 2009 Teri Eckholm http://www.terieckholm.com/