7 Wonders of the World

Can you list the 7 (widely accepted) natural wonders of the world?



Grand Canyon
Mount Everest
Victoria Falls
Aurora Borealis
Great Barrier Reef
Harbor of Rio De Janeiro
Paricutin Volcano

Which one is your favorite?

Timing the Market

Why Wait in your home purchase? The Potential Hazards of Timing the Market

Buyers who decide to wait until the housing prices come down more are also gambling that interest rates will hold steady or drop. What is not widely understood is the impact interest rates can have on the real monthly costs of Homeownership. Even a 10% drop in home prices is immediately nullified by a mere 1 percentage point increase in the interest rates on a 30 -year mortgage loan.

The mortgage interest rates are currently at or near historic lows. Working with a professional Realtor, such as myself, I can provide you with information on the market and housing values in your local area. Information is your most powerful tool in making your housing decision. Call me today - I can help.

Drop in Interest Rates leads to Jump in Affordability

Market Update-


Mortgage rates declined well into the 5 % range in the last month- best rates of 2008 and the most attractive since 2003. November median home sales price is around $175,000- down 19.2% from last year- this makes housing more affordable for the consumer. MAAR started tracking this affordability through the Housing Affordability Index (HAI).


Housing Affordability Index (HAI) has jumped 19 points in the last month and currently sits at 180. This is up 27.7% from December 2007, and the highest since HAI started tracking this data in 1990.

Low interest rates, abundant housing, affordability combined together make this a perfect buyer's market. Now is a great time to buy, call me about more information on this great opportunity.

FHA CHANGES- TIME RUNNING OUT

Time is running out to take advantage of the 3% minimum down payment requirement and the temporary loan limit of $365,000 on FHA loans. The FHA loan must be closed by 12/31/08. The minimum down payment requirement must have an appraisal ordered by 12/31/08 but can still close in 2009.

On January 1st, 2009 the new required down payment will be increased to 3.50% and the new loan limit on a single family home will be $318,550.

INTEREST RATES

Mortgage Rate Update!

The interest rates are at historic lows and housing prices have moderated thus setting up a great scenerio for people who need to refinance or are looking to buy a home. Over the past 2 weeks, borrowers are now able to purchase almost 10% more in price because of the drop in interest rates.

First Time Home Buyer $7500 Tax Credit

Time is running out! There is only 24 days left to take advantage of the FTHB tax credit for 2008. This temporary tax credit incentive is available for purchases of a principal residence on or after April 9th , 2008 and available through July 1st, 2009. The FTHB is defined a an individual who has not had ownership in a principal residence in the previous 3 years.

Call me for more information.

Eagan Rated #1 Place to Raise Children in Minnesota!

Eagan was rated as one of the best places to raise children in 2009 by Business Week magazine. This rating was based on a number of factors including school performance, number of schools, crime rates, job growth, household expendures, air quality, job growth, family income, parks, theaters, museums, diversity and other amenities.

School performance and safety were weighted most heavily in the poll. The magazine went on to describe Eagan's community as "an upscale community with good schools, ponds, rolling hills, woods, and open space."

http://ci.eagan.mn.us/

For more information on Eagan or surrounding communities please don't hesitate in contacting me. I will be happy to answer any questions you may have.