Minneapolis beautiful skyline

Interest Rates remain at historic lows ---- 4.5 % on a 30 year fixed rate this past week. They hit 4.125% on a 15 year mortgage. These rates will not last long. Now is the time to refinance or buy a home.

Tax Credits for Energy Efficiency

Homeowners can now qualify for tax credits up to $1500. (in most cases) for home improvements made between Jan. 1, 2009- Dec. 31, 2010. Whether you are building a new home or renovating an existing one, there are ways to take advantage of this tax credit.

For existing homes, tax credits are available at 30% of the cost, up to $1500. in 2009 and 2010 for windows and doors, insulation, roofs, HVAC systems, water heaters (non solar) and biomass stoves. For existing new homes, tax credits are available at 30% of the cost, with no upper limit through 2016 for geothermal heat pumps, solr panels, solar water heaters, small wind energy systems and fuel cells.

For home improvements:

• must be 'placed in service" 1/1/2009 through 12/31/2010



• must be owner's primary residence



• must have a Manufacturer Certification statement to qualify



• for record keeping , save receipts and manufacturer certification statement.

For more information on how to qualify for and /or apply for these tax credits visit-

www.energystar.gov/taxcredits

Real Estate Update- Twin Cities

Low mortgage rates, affordable supply and the home buyer tax credit kept home sales moving in October.

There were 4,676 signed purchase agreements during the month, up 34.4 percent from a year ago—the 16th consecutive month of year-over-year increases in pending sales. The recent extension and expansion of the home-buyer tax credit should mean continued buyer movement into early 2010.

Traditional pending sales (excluding foreclosures and short sales) were up 55.0 percent from last October, a sure sign that demand is beginning to spill over into that segment.
The October median sales price of $169,000 is a slight dip from the prior month, but the dip is much less extreme than typical entering the fourth quarter. Compared to last October, it's a 6.1 percent decline—the lowest year-over-year decline in 24 months.

The median sales price of traditional homes in October was $193,500, down 13.2 percent from a year ago. Lender-mediated homes posted a October figure of $129,000, down 4.4 percent from a year ago.

Foreclosures are still selling much more frequently than short sales, bringing the months supply of foreclosures to 1.4, while short sales still have 13.2 months of supply. More information on these market segments is available with the October 2009 Update to Foreclosures and Short Sales in the Twin Cities.

Good news for sellers: Homes are selling quicker and sellers are receiving closer to their original asking price than they were a year ago. But the experience varies by price point. For example, activity in the upper-bracket price ranges is still pretty slow.

The lower and middle price brackets will probably see a lot of movement over the next nine months," said MAAR President-Elect, Brad Fisher. "If you're a buyer in those ranges, action is your best weapon

."

information provided by MAAR

Midwest Home Show

This coming weekend... November 13-15th, Friday, Saturday & Sunday.

Home Remoldeling, Design and Landscaping.

Friday 1-6, Saturday 11-6, Sunday 11-5

Minneapolis Convention Center

www.midwesthomeshow.com

Admission: Adults: $8.00, Children: $3.00---Buy one ticket at Cub Foods, get one free.

Stop by and see me at Rongitsch Homes Booth

Tax Credit Extension & Expansion is Approved!

BREAKING NEWS!
Tax Credit Extension & Expansion is Approved!

President Obama has approved a bill for the Housing Tax Credit Expansion and Extension. Here’s what it means:

The $8,000 First-Time Homebuyer Tax Credit is Extended!

· Now, qualified first-time home buyers would receive their $8000 tax credit if they sign a purchase contract by April 30, 2010 and close by June 30, 2010.
· The home purchased must be their primary residence
· Buyer cannot have owned a home during the past three years
· Tax credit is up to 10% of the home value (not to exceed $8,000)
· Annual income caps to qualify for the tax credit have increased ($125K for single filers / $225K for joint filers). Partial tax credit can be granted for incomes up to $145K for single filers / $245K for joint filers.
·

PLUS New $6,500 Tax Credit for Current Home Owners Purchasing a Primary Residence

· Eligible home buyers must have lived in their current home for 5 consecutive years of the past 8 years.
· The new home does not have to cost more than the old home.
· Eligible for homes with purchase agreements written by April 30, 2010 and that close between November 6, 2009 and June 30, 2010
· Annual income caps to qualify for the full tax credit ($125K for single filers / $225K for joint filers). Partial tax credit can be granted for incomes up to $145K for single filers / $245K for joint filers.

Changes Chart and FAQs from www.realtor.org (National Association of Realtors® website) are attached.

For any tax credit eligibility questions please contact your certified public accountant.

First Time Homebuyer Tax Credit

First-Time Home Buyer Tax Credit - Deadline is Approaching!

If you've decided to purchase a home and take advantage of the 2009 First-Time Home Buyer Tax Credit. Here's what you have to do to get your benefit:

Close on your home purchase by November 30, 2009,
Ensure that you are a qualified first-time buyer under IRS guidelines,
Decide which year to file under, 2008 or 2009,
File an amended 2008 return or choose to apply the credit to your 2009 tax return.

Contact me for any questions on this.

Home Sales Up month of July

Sales of previously owned single-family homes were up 7.2% compared with June and 5% from July 2008, The National Association of Realtors (NAR) reported Friday. The monthly gain was the largest on record for existing-home sales, which NAR has tracked since 1999.

The Primary Driver is the $8,000 Tax Credit. With only 99 days left to negotiate a purchase agreement and get into a home before the current tax credit runs out.

Time is running out - Call me now to get the process started.

$8,000 Tax Credit

Don't miss out on the $8,000 Tax Credit!!!

The days are counting down to take advantage of the $8,000 Tax Credit for First Time Homebuyers (or if you haven't owned a home in 3 years).

103 days left!! --- only 59 days if you allow the minium 45 day closing timeframe.

If you are considering buying a home now is the time. There have been questions whether the Tax Credit will be extended, at this point it is unknown, it may be extended, reduced or eliminated. The opportunity right now is great-- low interest rates, low prices on homes and a $8,000 incentive.

Call me with questions on this program or homes that are available.

Lakeville Art Fair

Lakeville Area Arts Center,
20965 Holyoke Avenue, Lakeville.

September 19th 10-6PM, September 20th 10-5PM.

www.lakevilleartfestival.org

New loan program for Bank properties-Silver Lining Program

Dakota County Community Development Agency (CDA) has developed a new program aimed at stabilizing neighborhoods that have experienced higheer than normal levels of mortgage foreclosures- the program is called Silver Lining Loan Program.

this program is available to qualified buyers who purchase eligible bank owned vacant foreclosed properties.

Loans can be used for:

• up to 50% of the required down payment
• payment of normal and usual closing costs
• buy down of first mortgage principal

Max. purchase price- $256,080

Loan limit: $15,000

Contact me for more information on this program or other similar programs available.

New Home Sales Soar

Lori's Market Update

Good news out today- New Homes Sales for June soar to 11%. This is above expections of 2.3%for the month. Existing home sales have seen 3 straight months of gains- this may be due to the availability of the $8,000 tax credit,lower interest rates and sale of Foreclosure properties.

Time is limited on this tax credit- Call me for more information.

Credit Repair...

It is never too late to start working on your credit repair

How to get quick credit recovery...

1. Apply for a secure credit card
2. take out a secured loan in a small amount from a local bank. Security may be assets, cash, etc.
3. Review your credit report and work through credit reporting agencies to remove duplicate and inaccurate accounts.

• Transunion 877-322-8228
• Experian 888-397-3742
• Equifax 800-685-11

4. Make regular payments on your secured loan and credit card for several months. Time and consistancy is key.

5. Pay your rent, utility bills, cell phone, insurance, etc. on time for use as "alternative" credit.

It is also beneficial to contact a mortgage lender and ask questions on your credit. They can be a handy resource.

How to get a Better Credit Score

Here are a few tips in boosting your credit score.

• Get current on your bills and stay that way. Consider an online bill paying to pay your bills.
• Pay down your revolving debt. Do not move debt around between credit cards.
• Do not open a lot of new accounts.
• If you are having trouble making ends meet, contract your creditors or a legitimate, non-profit credit counselor. They would rather work with you on a payment schedule than see you fall delinquent and not pay at all.

Good credit can be a homeowner's most valuable possession. Use it wisely and guard it well.

Free Credit Report

Lori's Market Updates

You can receive one Free credit report annually-

Annual Credit Report Request Service
PO Box 105283
Atlanta, GA 30348-5283
877.322.8228

www.annualcreditreport.com

Contract for Deed

Creative financing??? What about a Contract for Deed. What is it and how does it work?

A contract for deed is an agreement to sell property in which the seller delivers the title after final payment is made. It sometimes can be offered by a buyer who has difficulty obtaining a mortgage loan however they are able to show that they have income to make the monthly payments. Usually the contract is for a few years with a balloon payment, for which the buyers normally get a mortgage to pay off the balance.

Should you have any more questions in regards Contract for Deed please contact me..

Eagan Fun Fest- Eagan

Entertainment, Food Vendors, and Art. June 27-28th. 9-5 on Saturday, 10-5 on Sunday. Eagan Community Center Festival Grounds.

www.eaganartfestival.org

PAN-O-PROG- Lakeville

Do not miss the various events during the week of Pan-o-prog in Lakeville. There is a craft market, classic car parade, Fireworks on the 4th and the Grand Parade 5:30 pm on July 11th. Look out for the Edina Realty Group in the parade. For more information go to ... www.panoprog.org

Housing Market Update - Week June 15, 2009

New listings and pending sales both took a jump upward in the week ending June 6 as the annual post-Memorial Day surge in activity took place. There were 1,226 signed purchase agreements in the Twin Cities for the week, which represents a 33.4 percent increase over the same week last year. The 2,160 new listings were a 4.3 percent decline from a year ago but were a significant bump over the activity seen during the Memorial weekend respite.

Statistics provided by MAAR- Minneapolis Area Association of Realtors

Real Estate Market Update….
For the week ending May 16, there were 1,960 new listings, 10.2 percent less than the same week in 2008. The decline in new listings has helped improve the larger picture of total active listings.
Inventory is being sold through at a rate that is still flying high above last year’s numbers. Breaking the 1,200 pending sales threshold for the first time in three years, the 1,235 pending sales occurring during the most recent reporting week is up 36.9 percent over the same week last year. While many of these sales are lender-mediated properties, the increase in sales is welcome news regardless.
The decline in new listings, coupled with increased pending sales, has resulted in active listings supply dropping significantly. A year-over-year comparison of active listings from last May reveals a drop of 20.5 percent, bringing our Supply-Demand Ratio down to a healthy 5.23 houses for sale per buyer.
The rebalancing is beginning but the journey back will be slow. It appears that enough houses will soon be off the market, thus creating a rebalancing of the buyer-seller mix and a reversal in price trends.
****statistics from Minneapolis Area Association of Realtors

Eagan Facts

1. Minnesota's 8th Largest City
2. Great Location- a second ring suburb with easy access to Mpls/St. Paul and airport
3. Family Friendly Attractions- Water park, Trapp and Holz Farms, walking paths, Community Center, parks to name a few.
4. Wide Open Spaces- Ponds, Lakes, and 4,550 acres of open spaces.
5. Sports and Leisure activities- more than 50 city parks, 130 miles of walking trails, 30 soccer fields, 79 softball fields, BMX bike and skateboard parks, and 350 lakes and ponds.
6. Wide range of home prices- condos, town homes and high end homes. The average sale price in Eagan in 2008 was $241,531 with 681 closed homes.
7. Lots still available- Eagan is 95 % developed with only a few lots available.
8. Many shopping and dining choices
9. A great place to work and live- City has 52,000 jobs. Major employers include Thomson Reuters and Blue Cross Blue Shield.
10. Easy commute to Downtown Mpls. and St. Paul

For additional information on the area contact me or go to

www.ci.eagan.mn.us

First Time Homebuyers take Advantage of Incentive

Results are in and looks like First-Time Homebuyers are responding well to the $8,000 federal stimulus first-time buyer tax credit. Many First Time Homebuyers are taking advantage of the Foreclosures and Low prices and we are seeing an increase in activity with multiple offers on many properties. This is a great opportunity for many First Time Homebuyers were it is the first time they have been able to enter the housing market. Mortgage applications rose in synch with the 5 percent increase in buyer activity. The numbers are telling us that half the homes sold in February are the result of first-time homebuyers.

If you would like more information on the $8,000 First Time Homebuyer Credit please go to my website. www.HomesByLoriHuckle.com

Don't miss out on the Eagan Tree Sale

2009 Biennial Tree Sale

Saturday, May 2, 2009 City of Eagan Maintenance Facility (Pre-ordering only) The City of Eagan is again holding its tree sale and offering Eagan residents a chance to purchase a variety of bare root trees for planting on their property. Seven varieties of trees have been selected for this years sale; snowdrift crabapple ($25), whitespire birch ($25), bi-color oak ($30), Accolade elm ($30), Northwood maple ($30), skyline honeylocust ($30), and Honeycrisp apple ($25).

Residents interested in purchasing up to two trees are asked to complete the application form (available for use beginning Tuesday, March 10, 2009), or submit a paper copy, available at the City of Eagan Maintenance Facility (3501 Coachman Point) or at the Eagan City Hall (3830 Pilot Knob Rd.). Paper application forms must be returned to the address below no later than 4:30 p.m. on Friday, April 3, 2009.

Trees will be awarded on a first-come-first-serve basis and successful registrants will be notified by email of the exact location and time to pick up their tree(s). If you are registering for trees on the Web based application and all seven species of trees are not present on the species drop down menu, that means that species of tree is sold out. You can then make another species selection.

For more information please see http://www.cityofeagan.com/live/page.asp?menu=16629

This is a great opportunity to purchase trees for your home landscape.

Home Affordability on the Rise!!!

Owning a home hasn't been this good in a long time,... what? All we hear about is all the negative news in the media on the housing market and how the values have dropped in home prices. This may be true, and in some areas the values have been hit harder than others. The good news is that the affordability to own a home hasn't been this good in years. Interest rates are low, and home prices have adjusted that homes once again are more affordable. With the new Stimulus package available to First Time Homebuyers the added $8,000 in the pocket is a nice little boost. The thought is if we can get the First Time Homes moving it will help the rest of the housing market recover.

Please read the following article.

If you have any questions on the New Tax Credit please give me a call.

http://talk.realtor.com/2009/03/04/home-affordability-on-the-rise/

New Stimulus Package Plan- Home Improvements

There are many other parts to the stimulus package that have not received as much attention as thee First Time Homebuyers Tax Credit, but can still benefit a large number of homeowners.

There are increases and extensions for tax credits to stimulate "qualified energy efficient improvements" in exiting homes. The expanded credits cover improvements made to air-conditioning systems, or natural gas and propane furnances and water heaters. These improvements can save you money $$$$

Home Sales are Brisk...with a caveat

Minneapolis, Minnesota (February 11, 2009) – Low mortgage rates and an ample supply of affordable properties kept January home sales strong despite a month of harsh weather, according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc.
Pending sales during the month posted a figure of 2,827, an increase of 10.3 percent from last January. This is the eighth consecutive month of year-over-year increase. Closed sales saw an increase of 2.1 percent in January, posting 2,010 units.A growing share of this jump in buyer demand can be found in lender-mediated foreclosures and short sales.
The overall January median sales price of $155,000 is 24.4 percent and a $50,000 lower than last January's mark of $205,000. However, a staggering 59.9 percent of closed sales in January were from the lender-mediated segment, which had a dramatic downward effect on the overall median sales price.
Traditional properties, which exclude foreclosures and short sales, had a January median sales price of $215,000, down 4.3 percent from last year, while lender-mediated homes had a median sales price of $122,000, down 21.4 percent for the same year-over-year comparison.
"Banks have found the magic price formula to overcome condition issues and sell these properties quickly," said Steve Havig, MAAR President. "The good news is that price reductions on traditional properties haven't been as extreme."
Housing affordability also tells a tale of two markets. Lender-mediated properties currently have a Housing Affordability Index (HAI) of an astounding 245, while traditional properties have an HAI of 154, a mark last seen in 2004. The overall HAI jumped another 10 points in the last month, and currently sits at 202. This means that the current median family income is 202 percent of what's necessary to qualify for the median-priced home. This is a new record and up 35.6 percent from last year.
Housing supply continues to draw down. There are almost 3,000 fewer houses for sale than there were one year ago, and new listings in January were 15.7 percent lower than in 2008.
"With listings coming down and sales going up, we're glad to see some inventory getting absorbed and a trend pointing towards a more balanced market," said MAAR President-Elect, Brad Fisher.

Established in 1887, the Minneapolis Area Association of REALTORS® (MAAR) is the leading regional advocate and provider of information services, research and education on the real estate industry for brokers, real estate professionals and the public. With more than 8,500 members, MAAR is one of the 25 largest local REALTOR® associations in the nation and serves the Twin Cities 13-county metro area and western Wisconsin.
###

New HealthEast Clinic in Rosemount?

The Health East Clinic would anchor the new development in the rivitalization project of downtown Rosemount. The Waterford Commons, which is scheduled to be completed this summer, is the first big project for Rosemount. It contains 13,000 square feet of retail space and 108 apartments. The clinic would be located kitty corner to the development. See article below.

http://www.bizjournals.com/twincities/stories/2009/02/16/daily59.html?ana=from_rss

Foreclosure Workshop- February 21

Dakota County Development Agency (CDA) is offering a free workshop for homeowners worried about making mortgage payments, already facing Foreclosure, or interested in learning more about Foreclosure.

The event will be on February 21, 11-2, at the Farmington Library, 508 3rd Street, Farmington. This is an open workshop - you can stop by anytime during these hours. For more information you can contact the CDA at 651-675-4555.

Spring Parade of Homes

The Builders Association of the Twin Cities is presenting this Spring's tour opening February 28th- March 22nd. The tour features 403 new homes and neighborhoods.

Homes are open Thursday- Sundays 12-6.

Guidebooks are free and can be picked up at local Holiday Stores (after Feb. 14th) or go to http://www.paradeofhomes.org/

Senate OK's $15,000 Bonus for Homebuyers!

This is a change from the current $7500.00 Tax Credit for First Time Homebuyers.

Please read attached article.
http://www.realtor.org/RMODaily.nsf/pages/News2009020501?OpenDocument

These are great incentives to buy...now is the time. Great Interest Rates, good inventory, and now bonus incentives. Let's get this market moving!

Any questions on this programs or other programs available please give me a call.

119,900 --- PRICED REDUCTION - EAGAN CONDO

Convenient Location in Eagan! 2 Bedrooms/1 Bath. Top floor, end unit- wood burning fireplace, covered deck in the midst of mature trees. Pool, club house, work out room. Garage!
Call for more info. See more details at : www.homesbylorihuckle.com

Immaculate End Unit TH in Apple Valley

2 Bedroom + a Loft, 2 Bath end unit Town Home in Apple Valley. Many updates to this home- $167,500. This is not a short sale or foreclosure. A clean deal. Very convenient location.

Details see-

www.homesbylorihuckle.com

For more informaton or a showing call me.

Market Update

Market update on the Twin Cities real estate market,

by MAAR- Minneapolis Association of Realtor's


http://www.youtube.com/watch?v=wOHOIGjlBYc

Grab some popcorn and enjoy.

New Listing in Lakeville!

New Listing in Lakeville!!!

5 Bedroom /4 Bath - 2 Story on a pond.

Clink link below for details.

http://www.postlets.com/res/1682685

Call me for a showing or any questions