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Sunday, October 19, 2014

How to buy a home in Crow Wing County with little to no money down

If you are looking to buy a new home in Crow Wing County but are struggling with how to come up with a hefty down payment there are options out there that may help. Typically, it has been the more money you have to put down on your home mortgage the better your chances of obtaining a mortgage loan. Traditionally 20 percent of the home’s purchase price is what we think of a typical down payment, but that is not always necessary.

FHA Loan- If you are not able to come up with a large down payment and you are looking to purchase your first home then a low down payment home mortgage backed by the Federal Housing Administration (FHA) may be the best for you.

This type of mortgage loan is designed to help first-time home buyers by offering low closing costs, low down payments, and easier credit qualifications.  FHA loans typically only require a 3.5 percent down payment.

VA Loan-  If you have a military background and you are in the market for a new home in Crow Wing County then you may qualify for a loan program sponsored by the U.S. Department of Veterans Affairs (VA). The VA loan program requires homebuyers to be active service members or veterans.  These loans do not require mortgage insurance, have lower interest rates than FHA loans, and require no down payment.

USDA Loan- The U.S. Department of Agriculture (USDA) provides a home loan program that aims to improve the quality of life for those living in rural areas. It provides a zero down payment option. To qualify the property needs to be located in an eligible rural area. Another requirement of the program is that the homebuyer’s income needs to be within the eligibility guidelines.

Our team would be delighted to help you find the perfect home in Crow Wing County. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

Bill Grunewald/ Edina Realty.
Licensed in Minnesota/ Lic # 20204156

Sunday, October 12, 2014

Crow Wing County Monthly Market Report

September was a strong month for Crow Wing County’s housing market.  Housing inventory has been low overall across the country, but when compared to the number of new listings year-over-year there was an increase of 20.6% in the month of September here in the county.  The number of home sales for September only decreased slightly by -0.7% over this period of time last year.

Pending home sales, which are a great indicator of soon to be closed sales, rose by 20.8% last month compared to year-over-year.

Homes are spending fewer days on the market than they were before. In September the median number of days on the market fell by 8.4% to 98 days. The median home sales price rose in September by 7.1% to $169,400 year-over-year.  The average sales price for September was $204,635.

Distressed properties in Crow Wing County continue to decline.  Foreclosures last month were down 23.1% year-over-year, and the number of short sale listings decreased by 50%.

If you are looking to buy or sell a home in Crow Wing County this summer, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156

 

Sunday, September 28, 2014

Tips For Protecting Your Landscaping This Winter

According to the most recent Farmer’s Almanac our winter forecast will be full of below-normal temperatures.  As you may recall the harsh winter we experienced last year was difficult on trees, plants and shrubs.  Here are a few tips from the Professional Landscape Network, the national landscape industry association, to help prepare your lawn and landscape for the harsh Crow Wing County weather ahead.

Continue to Water- The mistake that many homeowners make is that they fail to keep watering their plants when fall hits.  There is also a misconception that plans do not need water in the winter. However, plants do need to have access to some type of water even in the winter. Continuing to water your trees and plants into late fall, up until the first frost, will help make sure they will have access to water once the ground freezes.

Wrap your trees and shrubs- Many delicate plants and shrubs were damaged in last winter’s cold temperatures.  You can help protect your plants and shrubs from the wind and cold by simply wrapping them with burlap or a frost protection fabric.  Take advantage of fallen leaves by stuffing them inside and around the branches at the base to add an extra layer of insulation.

If you are looking to buy or sell a home in Crow Wing County this winter, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

 

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156

Sunday, September 21, 2014

Crow Wing County Monthly Market Report

It's that time of year; the seasons are changing and with them bring thoughts of the quickly approaching holidays, get-togethers, and colder weather. It is hard to believe that the warm weather we saw in August was not that long ago. Recent local market data from the Greater Lakes Realtors Association showed that August ended on a high note.

The number of new listings in August was up to 2,105 active listings, a 4.0 % increase over last year. The number of pending home sales fell slightly to 1,184, a 1.8% decrease. The number of closed listings last month was 21.7% higher than this time last year.

Good news for sellers. The median number of days on market for a listing is down to 63 days. This period of time in 2012 the median number of days was 115 days.

There still continues to be a decrease in the available months supply of homes for sale in the county. The median sales price in August was $189,900, an increase of 16.3% over last year. Sellers are also receiving more of their original asking price. In August the median percent of original price received was 95.9%, which is up from 92.7% in 2012. With inventory down, home prices up, and buyers ready to buy now is the time to put your Crow Wing County home up for sale.

If you are looking to buy or sell a home in Crow Wing County this summer, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

 

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156

Sunday, September 14, 2014

4 Reasons to Buy That Crow Wing County Home Before Winter


Seasons are quickly changing here in northern Minnesota. Those changes will bring the holiday season upon us before we know it. If you are on the fence about if now is the perfect time to buy your dream home in Crow Wing County here are a few reasons why you should buy before winter.


1.  Project Mortgage Rates Increase
Recent reports from Freddie Mac showed that interest rates for a 30-year fixed-rate mortgage have lessened recently. However, many experts are predicting that they will start increase in the months ahead.  All major housing authorities are predicting rates to be up nearly a full percentage point by the end of 2015.

2. Rising Prices
A recent poll of over 100 well known economists, housing market analysts, and investment strategists released shows that they predict home prices will increase. They are predicting that over the next five years home values on the pessimistic side will increase by 11.2% and on the optimistic side they will increase by 27.8%.

3.Paying Your Mortgage
“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” As stated in a recent report by the Joint Center for Housing Studies at Harvard University.

4.   Time For A Change
The cost of a home is determined for most buyers based on the price of the home and the mortgage interest rate. All indications point to the fact that both home prices and mortgage rates are on the rise. Now is the time to buy before these two factors go any higher.


If you are looking to buy or sell a home in Crow Wing County this autumn, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

Bill Grunewald/ Edina Realty.
Licensed in Minnesota/ Lic # 20204156

 

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