Home Buyer Incentives: Mpls. Click here for the latest eligibility information on Minneapolis’ Advantage program. Limitations are by property type (foreclosed or vacant); income; and neighborhood (mostly north and central). According to the Web site, the program “offers 200 loans at $10,000 each that can be used to pay for closing costs, down payment, or...Read More
Mpls. Offers Biggest Home Buyer Carrot Yet Starting April 2, the Minneapolis Advantage program will provide $2 million to fund 200 $10,000 deferred loans to buyers of foreclosed homes in certain Minneapolis neighborhoods. The loan is forgiven if the homeowner lives in the house at least five years. Information about the program will be available...Read More
What Do Today’s Home Buyers Look Like? Contrary to popular opinion, home buyers are not an endangered (or extinct) species. Two of my clients just purchased homes, and three more are actively looking. So what generalizations can you make about them? They have many (if not all) of the following four attributes: One. First-time Buyers....Read More
Parsing the Home Buyer Tax Credit Realtors are already fielding questions from clients (see below) about the newly-passed $8,000 tax credit for home buyers. Details are still sketchy — the stimulus bill’s provisions repeatedly shifted — but the gist of it appears to be: 1) a scaling tax credit of up to $8,000 (not the...Read More
“$5,000 here, $10,000 there”To paraphrase a *famous quote, “$5,000 here, $10,000 there, and pretty soon you’re talking about real money.” In this case, the money consists of incentives offered to first-time home Buyers. New home builders have been offering Buyer incentives for quite some time (upgraded finishes, discounted loans, plasma TVs, etc.). However, now government...Read More
