First, let's clear up all the negative news. Yes we did and do have a sub-prime lending mess. It was a result of making risky loans to unqualified buyers. This is always bad business. We will work our way through this over the next year or so. Lenders have tightened up lending criteria and are starting to charge interest rates and private insurance premiums based on the borrower's credit worthiness (i.e. credit score). What a great idea!

There are a lot of good positives out in our market. If you follow the news you will have noticed the interest rates have not gone up. In fact the interest rates have DROPPED! If you do the math you will notice that the costs of owning a home have gone down. Last year at this time the the interest rates were @ 6.5% today you should be able to close @ 5.5%. Today your payment is substantially less, like around 10% less.

Secondly, home prices in the Minneapolis, St. Paul market are about as low as they will go. If your timing your purchase regarding the market hitting the bottom, you might consider jumping in now. The second it hits the bottom, it's on its way back up. I think you know what I'm getting at here! The very best time to invest in a new home, could very well be now.

When you buy and sell in the same market the market becomes neutral. You may not always sell your home for what you ideally want, but your not paying top dollar for your new home either. while you might take less for your current home, you will pay less for the home your buying. If your future home costs more than your current home, you may come out way ahead. Think about the big picture!!

Consider checking out the market. A good site that will take your search criteria and email the homes directly to you is www.emailtwincitieshomes.com  another site to actively look, and provide you with all the homes on the market is www.homehunterMN.com 

We strongly suggest that you work with a professional buyers specialist to assist you with your home search. The buyers specialists with Team Firnstahl have been recognized as the best in the business and can provide excellent counsel.  And, there's no charge for their service. They show and sell homes every day and know the market inside and out and, thus, can provide the necessary perspective about homes, areas and prices.

last, I would recommend that you meet with a credible lender to discuss your financing options if history has taught us anything, It's that experienced loan counselors working in stable, established lending institutions is an invaluable part of the process. For help in this area please call Team Firnstahl @ 763-587-7200 for assistance. It's really an important first step.

In times like this, filled with uncertainty and opportunity, It's important to work with a professional with years of experience and a record of success. There is a real difference. If you have any questions whatsoever or would just like to chat about the market, please call Team Firnstahl at 763-587-7200.