Melissa's Blog Content
Minneapolis Area Housing Market: Bright Spots in August 2023
The sun seems to shine a little brighter in the Minneapolis real estate realm, even as the year progresses and seasons change. The latest figures for August 2023, provided by the Minneapolis Area REALTORS®, not only give a detailed overview of the current market but also highlight several reasons to be optimistic about the housing scenario in the region. Let's delve into these promising numbers.
Celebrating the Market Highlights:
T...
Embracing the Changing Landscape of New Homes
Weekly Update Ending June 24th 2023
A Promising Outlook for Homebuyers
The housing market is constantly evolving, responding to various factors that shape buyers' preferences and needs. The latest Weekly Market Activity Report sheds light on the shifting dynamics, highlighting changes in home sizes and key market indicators in the Twin Cities region. As we explore the data, it becomes evident that the market is undergoing a transformation, presenti...
Strong Competition in the
Housing Market:
A Ray of Hope for Middle-Income Buyers
In recent times, the real estate market has become increasingly competitive, leaving buyers feeling the crunch when searching for their dream homes. However, amidst this challenging landscape, there is a glimmer of hope for middle-income households, who have been experiencing the strongest competition. Despite a shortage of homes in their price range, buyers earning up to $75,000 per year are still finding oppor...
HOW DO YOU RATE?
It's a good idea to know your credit score. The better your credit, the better the lending terms you'll receive if and when you decide to apply for a mortgage or mortgage refinance.
You should be aware of what information is on your credit report by obtaining and reviewing copies of your credit report from the three main credit report agencies: Equifax www.equifax.com 1.888.766.0008 TransU...
What are the Typical Closing Cost for a Mortgage on a Loan?
The typical closing costs for lets say a $300,000 loan can vary depending on location, lender, and loan type.
Closing costs, on the other hand, can range from 2% to 5% of the loan amount, which translates to $6,000 to $15,000 for a $300,000 mortgage. These percentages are also depending on the consumer and loan type. We typically see the closing costs to be 3%.
Some common closing costs that a borrower may incur include:
The origin...
What's on the Horizon for the Housing Market in the second half 2022
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