Home buyer activity is up as of late.  That is typical for this time of year.  Buyers seem to like to make a move in March, April and May!  There are plenty of great deals out there so why not. 

Most of my closed transactions come from buyers.  Currently most of the buyers are purchasing BANK OWNED homes.  They tend to be a better deal right now.  Mostly because at a certain point the BANK has to drop the price to sell the home. BANKS are not in the home ownership business, and even though they try to get the highest value for their listings, in the end they need to move them.  Its incorrect to think you will get a bank owned home for pennies on a dollar.  I would like to suggest that 70-80 cents on a dollar is pretty realistic in this market in the Anoka, Isanti, Sherburne and Wright County areas. 

This is the time of the year the buyers will start running into multiple offers on properties.  If you see a home priced well you have to move on it or it will be gone.  A great example is this past weekend I noticed a townhouse in Zimmerman dropped from $126,900 to $99,900.  I had a buyer who missed out on a property earlier in the week to a better offer.  I got the buyers in there on Sunday and we put in a full price offer right away. Thankfully no one else moved fast on this home and we got it.  Of course now the listing agent is getting numerous calls for showings, but they were to late.  Moral of the story: More buyers need me as their agent!!!    Perhaps other agents won't agree, but this was a good condition, 3 BR, end unit townhouse.  That was a steal!  I really enjoy when I can help someone get a great value like that! That is a home that sold at market bottom even though we have not hit the bottom yet.

There are plenty of those deals out there.  This is an excellent time to buy.  There are many opportunities for investors to pick up cheap properties to rent too. The people being foreclosed on will want rentals to live it.  So if you are looking to pick up an investment property now is a great time to get your financing in order and be on the look out for a great deal! 

...I do write about real estate every so often!!!

Chuck Carstensen

www.thediscoveryteam.com- Search for homes!

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