Twas the month before Christmas.....Tis a great time to buy

Twas the month before Christmas...Tis a great time to buy

Twas the month before Christmas, when a few scurries around like a mouse.
A few start shoppers , were looking at a house
The stock market drop had made them move their cash with care
In the hopes that St James place, who soon be theirs.

Their Children were choosing which room for their bed
While dads' visions of a great interest rate danced, in his head
And Mama in her kitchen and a child on her lap
Had just rested, for they had a low interest rate and cap.

When an intelligent lender proposed such a flutter
All sprang from their chair to see was the matter
Away to the table, they flew like a flash
Tore open their file and prayed for more cash

All rooms had a great view of the new fallen snow
Gave the luster of a great day to purchase below
When, what to their wondering eyes a did appear
A sweet REO listing, all shouted with cheer.

With an awesome Realtor to react so quick
They new in a moment they could...buy in a lick
More rapid than eagles with no one to blame
And they all whistled and call out some names

Now Lender, Now Appraiser and processor too
On title, On Docs, on with the big blizzin
To the top of pile with their loan with no call
Now dash away, Dash away all

As dry documents were ready to sign
The buyers were ready to meet and sign on the line
So all flew to the closing table
To close the deal with a lady called Mable

So they closed on their new home that day
Knowing it was a great time buy with little to pay
They had confidence they made a good buy
And live happy ever after... they all let out with a sly...

Happy Thanksgiving!

Wishing all of you, your families and friends a wonderful Thanksgiving holiday tomorrow. At a time when many are struggling and it can seem as though the stresses of life, the economy, whatever else is posing a challenge in our day to day lives is overwhelming and all consuming, a day devoted to giving thanks is an opportunity to focus on what we can truly be grateful for in our lives.

Thanksgiving isn't about how much the meal costs or what kind of silverware or china you have to adorn the table. It's not about what kind of car you may drive to your Thanksgiving destination or how fancy your house is. It's not about status or putting on a show and impressing others.

Being truly grateful for what you DO have to appreciate in your life is such a simple thing to do but can easily be overshadowed and neglected when the stress of life takes over.

It's much easier to get caught up in and focus on what's "wrong" or lacking in our lives. Tomorrow's a great opportunity to take a moment and appreciate what we do have and can be grateful for no matter how small or taken for granted those things may be.

Whether you spend the day at a large family gathering or just a quiet day at home, I truly hope each of you has a wonderfully relaxing, joyful and memorable Thanksgiving tomorrow.

Happy Thanksgiving!!!!

Twin Cities Weekly Market Activity Report - WE 11/23

Hello Minnesota!

Below is the latest market activity report for the Twin Cities Housing Market for WE 11/23. We are seeing a balancing of the market in lower priced homes but still some uncertainty in the higher end properties. Please feel free to contact me at anytime to discuss your situation.

Twin Cities Market Activity Report

Minneapolis / St. Paul / Maple Grove / Elk River / Plymouth / Champlin / Rogers

The Monthly Skinny - Twin Cities Housing Market

Here is the latest "Monthly Skinny" (MAAR) video. A quick recap on the Twin Cities Housing Market for the last month. We are continuing to see large gains in the lower price points and only a modest decline on home values heading into the 4th Quarter. I hope you enjoy and find it informative.

Meet Minneapolis

If you have never been to Minneapolis / St. Paul, you are truly missing one of the most dynamic areas of the country. Take a look at the video to see what my town has to offer. Enjoy! :)

Income Property - HGTV

Okay, this has to be my favorite show on HGTV. The premise of the show is to show home owners how they can earn extra income by renovating the basement of their home and renting it out to reduce their mortgage.

In todays economy I think this is a path that many of us will have to take sometime soon. Home ownership will get tougher and tougher for some to reach and living in newly remodeled space is something that will be very attractive to those looking to rent.

If you get a chance check out this show!

Obama Signs Homebuyer Tax Credit Extension

RISMEDIA, November 9, 2009—President Barack Obama has approved the first-time homebuyer tax credit extension which will extend the tax credit until April 30, 2010.

The extension is part of a $24 billion economic stimulus bill that will extend the $8,000 tax credit for homebuyers who are purchasing their first home from the current November 30 deadline and expands the program to offer a credit of $6,500 to homeowners who have lived in their current home for at least five years and are seeking to relocate.

The following details apply to the homebuyer tax credit expansion:

Who is Eligible
-First-time homebuyers, who are defined by the law as buyers who have not owned a principal residence during the three-year period prior to the purchase, may be eligible for up to an $8,000 tax credit.
-Existing homeowners who have been residing in their principal residence for five consecutive years out of the last eight and are purchasing a home to be their principal residence (“repeat buyer”), may be eligible for up to a $6,500 tax credit.
-All U.S. citizens who file taxes are eligible to participate in the program.

Income Limits
Homebuyers who file as single or head-of-household taxpayers can claim the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers) if their modified adjusted gross income (MAGI) is less than $125,000.
-For married couples filing a joint return, the combined income limit is $225,000.
-Single or head-of-household taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive a partial credit.
-The credit is not available for single taxpayers whose MAGI is greater than $145,000 and married couples with a MAGI that exceeds $245,000.

Effective Dates
-The eligibility period for the tax credit is for homes purchased after Nov. 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the tax credit provided closing occurs prior to July 1, 2010.

Types of Homes that Qualify
-All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums, provided that the home will be used as their principal residence. Vacation home and rental property purchases do NOT qualify.

Tax Credit is Refundable
-A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference.

-For example:
-A first-time buyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit).
-A repeat buyer who owes $5,000 would pay nothing to the IRS and receive $1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit).
-All qualified homebuyers can take the tax credit on their 2009 or 2010 income tax return.

Payback Provisions
The tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.

The www.federalhousingtaxcredit.com site is being updated. Check the site next week for more detailed information on the new tax credit.

For more information, visit www.nahb.org.

Twin Cities Market Activity Report - W/E Nov. 2nd

Here is the latest Twin Cities Market Activity Report for W/E November 2nd. Find out more about the local Twin Cities market by visiting my website HennepinGroup.com