Minnesota Short Sale Expert

“Home.” What does it mean to you?

To many, it is a place to hang your hat, raise your children, watch football on Sundays, play with your dog in the back yard, tinker with the car in your garage. Is that still the thought that most Americans believe in? If you watch the current business news, and listen to any of the real estate experts, you will hear a mixed bag of opinions. Some say the market for buying and selling is on it’s way back up. Others say it is still waiting to hit another bottom, and the recovery will not be seen for 5 more years. The bottom line is–patience. According to some of the current March 2010 figures, there was a slight decline in existing home sales compared to the past months of this year. However, there are a few Midwestern states that had a slight increase in sales, such as Minnesota, and Illinois. The Midwest and Northeast tends to have more current job stability, thus home sales are on a moderate rise. One big pushing motivation is the pending deadline of the “home buyer tax credit”, which is April 30th.

It is still a “buyers market”. Anyone looking to buy a home, will have an opportunity to negotiate a satisfactory deal. The “inventory”, or homes currently available on the market, is still moderately high. Buyers can be choosers in most cases. With the volitile economy however, especially with the tax budgets in many states being literally dipleated, it is always important to check what the proposed property taxes are in what ever city you chose to buy your home. For example, in Minneapolis, MN local budget cuts have wiped out many programs that were hoping for some tax help.

In other cities, such as Los Angeles, CA taxpayers are getting “IOU’s” instead of tax refunds. It is a jerk back to reality. No matter what financial background you come from, or what political beliefs you possess, this is an economy where “credit” is extremely limited. It is a time for both budgeting and patience. If you are ready to jump into the real estate market game, then know your local market, price your home competitively, advertise strategicly, and by all means–know your budget.