Real Estate Programs 
There are currently 16 blog entries related to this category.
Some good news for Twin Cities real estate in May
Wednesday, June 15th, 2011 at 5:56pm. 451 Views, 0 Comments.
The local real estate market is making some progress, according to data released by a Twin Cities organization.
Figures from the Minneapolis Area Association of Realtors show that pending sales for May 2011 were up 13.2% from the year before, with 4,428 contracts signed. Part of the improvement is due to a drop in pending sales in May of last year, following the end of the federal first time homebuyer tax credit.
Though the median sale price of homes decreased 12.6% to $152,950, the median sale price of non-distressed properties rose 1.4% to $200,700. Foreclosure prices were down 16.4% to $104,450, and short sale prices were down 5.6% to $135,000.
About 4,968 non-distressed properties entered the market in May 2011, more than the 4,202 of May 2010. Distressed…
Dakota County First Time Home Buyer Program
Wednesday, January 26th, 2011 at 9:39pm. 791 Views, 0 Comments.
Missed out on the $8,000 federal tax credit for first-time home buyers? The Dakota County Community Development Agency's First-Time Homebuyer Program is available to qualified people seeking to purchase a home within the county.
The program offers up to $10,000 in down payment assistance and low-interest, fixed-rate loans to people who qualify and decide to buy within Dakota County. The amount of down payment assistance varies by income and comes in the form of a no-interest loan. For example, a two-person household could qualify for down payment assistance if their combined income is $84,000 or less and the house they are buying does not cost more than $276,683.
All participants attend classes to learn about budgeting, credit scores, mortgages and the real…
Home Buyer Tax Credit Extended for Pending Sales
Sunday, July 4th, 2010 at 8:48pm. 398 Views, 0 Comments.
President Barack Obama has signed legislation into law giving consumers already in the process of buying a home three more months to close on their homes and still qualify for a popular tax credit from the government.
First time Home buyers who signed contracts by April 30 who failed to close by the original June 30 deadline will now have until September 30 to complete their purchases. The $8,000 tax credit for first time homebuyers and $6,500 credit for others purchasing a new primary residence was a highly popular temporary measure to spur home sales during the economic downturn.
The measure will help as many as 180,000 homebuyers who would have otherwise missed the June 30 deadline because banks and settlement offices were dealing with a huge volume of…
Get a $6,500 Loan to Make Energy-Saving Improvements to St. Paul Homes
Thursday, May 20th, 2010 at 8:47pm. 662 Views, 2 Comments.
The city of St Paul has received $550,000 to offer no-interest loans of up to $6,500 for homeowners who make energy-saving improvements to their properties.
The money comes out of federal stimulus funds. The program will include rebates for landlords if they replace outdated refrigerators in their rental units with new Energy Star refrigerators.
Anne Hunt, energy policy director for the city of St. Paul, says homeowners can use the no-interest loans for things like furnace replacement, insulation and air sealing.
"We are gearing towards people that are modest-income people that are above, say, the [federal] weatherization programs -- they are not eligible to get free weatherization -- for their homes so they need something that's attractive for them to make…
Shoreview to Launch Home Energy Improvement Loan Program
Wednesday, May 5th, 2010 at 6:30pm. 1575 Views, 1 Comments.
The city of Shoreview's Economic Development Authority will launch a new home improvement program on Monday that they hope will motivate homeowners to do needed updating and lure new residents who think they can't afford a home in the city.
Shoreview's Home Energy Improvement Loan Program will offer loans from $2,000 to $20,000 to qualifying homeowners seeking to do greener replacements for roofs, heating and cooling systems, insulation, water heaters, windows and doors. The loans are available at 2 points above the prime rate, comparable to the market rate for a second mortgage, and must be repaid within 10 years or upon the sale of the home. Residents who stay in their homes for at least 10 years can have all of the interest reimbursed.
The program comes…
Saint Paul and Minneapolis CityLiving Program Revived
Friday, February 12th, 2010 at 6:09pm. 395 Views, 1 Comments.
St. Paul Mayor Chris Coleman and Minneapolis Mayor R.T. Rybak have jointly announced $41 million in new funding for the CityLiving Program. CityLiving helps first time homebuyers purchase homes in either city.
The CityLiving Program offers below-market interest rates on mortgages as well as down payment and closing-cost assistance. In order to quality for the funding, homebuyers’ household income cannot exceed $92,290 and the purchase price for a single-family home can’t be greater than $276,870.
"We have an opportunity for people to invest, to get a good deal on an interest rate, get some assistance with a down payment, and get back into the cities," said Coleman. "It's a win-win for the potential homeowner, first-time homebuyer, and it's certainly a great…
Home Ownership Programs in Woodbury MN
Monday, November 16th, 2009 at 11:42pm. 542 Views, 1 Comments.
There are several home buyer programs in Woodbury MN, both for first time home buyers and people who have owned homes in the past.
First, there is the Woodbury First-time Home Ownership Program. The aim of the program is to encourage home ownership in Woodbury MN by providing financing to low- and moderate-income first-time home buyers. Low-interest, deferred loans of up to $25,000 are available to qualified families who earn no more than 80% of area median income, currently $64,000 for a family of four. First-time home buyers are defined as a person or household that has never owned a home or has not owned a home in the last three years. The purchase price of the affected homes may not exceed $256,500. Single-family detached houses, townhomes or condo…
City of Saint Paul First Time Home Buyer Programs
Friday, November 6th, 2009 at 2:25pm. 863 Views, 0 Comments.
There are many programs available to first time home buyers throughout the City of Saint Paul and in some cases, specific St. Paul neighborhoods.
In particular, the CityLiving Home Program offered by the Saint Paul Home Loan Fund makes home ownership affordable. Through a joint effort shared with the City of Minneapolis, St. Paul offers mortgage loans and home improvement loans through the program. CityLiving loans offer homebuyers an opportunity to purchase St. Paul homes at an interest rate that historically has ranked well below market rates. This program has helped low- and moderate-income families for 20 years. More than 10,000 people have purchased a home through the CityLiving program. Read more information about Saint Paul's CityLiving Home…
First Time Home Buyer $8,000 Federal Tax Credit Extended & Expanded
Thursday, November 5th, 2009 at 2:37pm. 604 Views, 2 Comments.
A $24 billion package that seeks both to stir the sluggish economy and help out millions who have found themselves unemployed is being sent to President Barack Obama for his signature.
The measure extends the $8,000 federal tax credit for first-time home buyers and even expands it with a $6,500 credit for some prospective home buyers who already own homes. Set to expire at the end of the month, the credits will apply to house contracts entered into before April 30, 2010, and closed by June 30.
Additionally, the nearly 2 million people who have lost or are in danger of exhausting unemployment benefits before the end of the year will receive up to 20 weeks in additional benefits.
President Obama is expected to sign the measure quickly.
Deadline to Qualify for Federal Tax Credit is Approaching
Wednesday, October 7th, 2009 at 11:34pm. 467 Views, 2 Comments.
If you have been paying any attention to the real estate market, you know that sales in the lower-priced end is picking up. First time home buyers are racing to qualify for the $8,000 federal tax credit. The credit will cover up to 10% of a home's purchase price, and is available to U.S. residents who haven't owned a home for at least the past 3 years. In order to qualify, they must also close on a home purchase on or before November 30.
The credit took effect in April and has helped the lower segments of the nation's housing market. The National Association of Realtors estimates that by the end of this year, the credit will have boosted home sales by 350,000 units. As many as 2 million first-time buyers will take advantage of the tax credit. In Minnesota,…
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