"You can take a 30-year mortgage and if it turns out your interest rate’s too high, next week you refinance lower. And if it turns out it’s too low, the other guy’s stuck with it for 30 years.”
Back at the beginning of 2012 there came a ‘pinch me, I must be dreaming’ moment. This was back in what seemed to be the Bad Old Days, when Lakeville MN homeowners who dared to check the latest in neighborhood home values were apt to spend a sleepless night as a result. Lakeville MN home values had only just begun to creep upward, but the bottom line was still, as truck drivers used to say, ‘negatory.’
For anyone who has never participated in a serious house-hunting effort, their mental image of how the experience will unfold may be a little off. They might imagine that, after narrowing down their requirements for a Lakeville MN home (size, price range, and the like) they will agree on a day and time, then just climb into their Lakeville MN agent’s car and settle back to have the likely prospect properties exposed before them.
Ever since the real estate world turned the corner and plunged full bore into the virtual world of home computers, cell phones and iPads, Lakeville Mn home buyers and sellers have benefitted greatly. There had been an issue about the fate of the once closely-held and jealously-guarded Secrets of the Kingdom—“the listings.” The Lakeville Mn listings are the compilation of current details about homes that are up for sale in Lakeville Mn. There is no single national clearing house for U.S. listings. They are run regionally at local and state levels. But in just about every part of the country, being in possession of the latest listings book was a necessity for Lakeville real estate professionals.
When you decide that the time is approaching to put your home on the market, you probably take special interest in exploring the conditions that are likely to motivate families to buy your Lakeville MN house. Most of the research on the subject indicates that it has at least as much to do with how people live their lives as it does with external forces--like changes in the economy or jobs market. When you spend as much time as I do chatting with people who are in the hunt to buy a house, you’d probably agree.
We all remember Freddie Mac and Fannie Mae, the twin quasi-public organizations who backstopped the home loan industry for the whole country. Freddie and Fannie were thought by some to be on the verge of extinction during the home loan crisis, but they revived when Washington stepped in. Freddie’s latest quarterly financials show assets that have a small ‘t’ in front of the number (that’s short for ‘trillions’), so it looks like they aren’t about to go out of business. In fact, whenever one of today’s Minneapolis home loans is originated, Freddie or Fannie are probably in the wings. They remain the big guns in the U.S. secondary home loan market, which is so huge its repercussions are felt globally.
There are acronyms that have grown so familiar that they are more like words than the phrases they represent (think “SCUBA” for self-contained underwater breathing apparatus or “laser” for light amplification by stimulated emission of radiation). Minneapolis REO properties aren’t in that category. For instance, REO homes aren’t located next to a river with a Spanish name. Most people have never heard of REOs, although they are familiar with what they stand for.
This summer, Lakeville MN home owners have been experiencing both the start of a blistering political season and, simultaneously, what the newspaper writers call the ‘summer silly season.’ The politicians have hit the campaign trail in earnest, but in many other realms, folks tend to be on vacation (or wishing they were). The result is that very unimportant stories make the evening news: the silly season. If you saw any ofmultiple replays of the baby deer playing with the rabbit on a lawn in Colorado, you know what the deepest part of the silly season gets you: Bambi and Thumper making headlines.
A skilled Minneapolis appraiser provides a service that should help make buying and selling a house smooth and stress free. ‘Should’ is the operative word.
Going back to ancient times, homes have always been ‘real’ when it comes to establishing the amount of money that they are worth. The home’s role as the center of family and community groupings guarantees that it will change hands carefully. When something is so important, its ownership does not come about haphazardly—doubly so because of its typically hefty price tag, arrived at after deliberation and scrutiny from buyer and seller alike.