Minnesota Realty and MN Real Estate Lemons

Summer Lemonade and Minnesota Realty

If you remember anything about reading this letter, remember this, “When life gives you a lemon, make lemonade out of it!”  This holds true of today’s real estate market. Hopefully, you will make lemonade out of this market, like we are doing at Realty Network, Inc.  Read further, if you want some refreshing lemonade… 

What you really need to know in today’s real estate market:

The truth is, the overall housing market in Minnesota is quite stable compared with other parts of the country.  The bottom line is, as long as you have decent credit and you would like to own a home, or invest, it is a great time to buy – residential, or commercial real estate. 

Mortgage brokers will tell you, that in order to get a market rate loan you will need to have a minimum credit score of 680 currently and it could be going higher.  You will have to pay substantial fees with scores lower than 680 and loans may not be available to you with a score lower than 620, no matter how much equity you have in the home.   

So, if your credit is okay, you can take advantage of historical low interest rates and the recent increase of government conforming loan limits, and find attractive loan programs.  

Your buy low and sell high strategy may not work today. But here’s the thing, if you sell low now, you can buy even lower and take advantage of lower-long term interest rates. So, before you waste  anymore time looking for a  home  you  cannot  afford,  get  pre-approved  immediately - know what you can afford, and make lemonade out real estate market lemons!

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