All About Minnesota Real Estate

By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
June is National Homeownership MonthMinneapolis, MN:  We all need a place to live. While renting works for many people, especially short-term, homeownership has a well documented history of major benefits, proving why throughout history so many people are eager to buy a home.From a place to call home, lay down roots to raise a family, being able to have a dog, and crank up the stereo without being yelled at, to building wealth, nothing beats homeownership.We all know that real estate is one of the best ways to build wealth. A recent Federal Reserve survey found that the medium net worth of a homeowner is $255,000, compared to the medium net worth of a renter, at just $6,000.While savings, 401k, and other investments help contribute to net worth, for most, your home is your biggest asset...
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By Joel Friday, Make sure your home is "SOLD by Friday!"
(Keller Williams Classic Realty)
Highway 169 and 10 work in Elk RiverReal estate market data in Elk River MN by Joel Friday of Keller Williams Classic RealtyUS Highway 169 through Elk River has 5 stoplights that create congestion on Friday nights as people head "up north" to their cabins and recreation as well as Sunday afternoons. Morning and evening commutes are also greatly affected. Well, it is about to get worse so they can eliminate these lights. One lane traffic in each direction starts soon at the US 10 intersection as the northbound bridge will be replaced. Also, expect one lane traffic at the 197th Ave intersection for the rest of the year with access to 197th Ave closed until the bridge is completed.Us Highway 10 will be down to one lane from 173rd to Main St as they rebuild the west bound lanes and the inte...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Buy with cash, get a loan afterwardsCambria Mortgage Delayed Financing Program. Buy a home with cash, refinance later.Minneapolis, MN:  In this crazy real estate market, maybe people are resorting to buying a home with cash to be the most attractive to sellers.Sellers love cash offers, putting you at the top of the pecking order amongst competing offers. But not everyone can, or even wants to pay cash for the new home.  Many people are pulling cash from savings accounts and 401k loans, but realistically want a loan, and need to put that money back.No worries, Cambria Mortgage, the Joe Metzler Team offers a 'delayed financing' program to recoup your cash within six months of closing without delay!Borrowers who purchased a property within the past six months, measured from the closing dat...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Today’s competitive housing market requires buyers, lenders and real estate agents to act fast. 💥 Your winning ticket to buying a home in Minnesota is getting pre-approved with Joe Metzler at Cambria Mortgage.A strong pre-approval letter from a local lender that Real Estate Agents know puts your offer way ahead of others, especially if your letter is from out state, or worse yet, big internet lenders.Don't lose out because you picked the wrong lender!Be prepared to buy ahead of time so you can act quickly with confidence. Ready to get started? Reach out to us at (651) 552-3681 or apply online at https://JoeMetzler.com/applicationNMLS 274132 - Equal Housing Lender#mortgage #realestate #housing #realestate #realestateagent #Minneapolis #Minnesota #firsttimehomebuyer 
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Minneapolis, Minn: Buying a new home is an exciting prospect. Make sure you don’t hit any potential bumps along way by following our tips below, especially you first time home buyers.Examine Your FinancesObviously purchasing a home is a large financial decision. Taking a look at your monthly expenditures and your debt is a great way to get started in the home purchase process. Take a look at where your money is going every month; figure out where you can make changes in your spending or cash flow that’ll increase the money you can dedicate toward saving for a down payment. Look for easy areas of spending, like that monthly subscription you don’t even use or start making coffee at home versus the expensive cups from the drive through on your way to the office. These are simple tweaks in ...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Coping with home buyer heartbreakMinneapolis, MN: If you’re out and about in today’s housing market, when we reference “home buying heartbreak” you likely know exactly what we are talking about. Navigating today’s housing market is anything but a honeymoon. Buyers are seeing multiple offers to compete with on nearly every home, contract terms are tricky and it’s rare to see a home go for less than list. With that said, missing out on a home is not uncommon. You know what they say, think with your head and not your heart… But it isn’t always that simple – we get it. Here’s how to power through and come out on the other side stronger when the one you fell in love with gets away.Take some time to processNo matter what it is, losing out on something takes time to get over. Feel all the feel...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Minneapolis, MN: Figuring out which mortgage program is best for you can feel very overwhelming. Below we provide a list of some of the most common mortgage loan programs available in today's market.We suggest rather that trying to figure out which program is best on your own, that you simply complete a full online mortgage application with a local mortgage broker instead.Once the lender has all your information, they can discuss your exact overall situation, including your wants, needs, and ability. Then zero in like a laser beam on the programs you qualify for, how much house you can afford, what the payment might be, and how much money you will need to pull it all together.Here is a list of most basic mortgage loan programs available from Cambria Mortgage in MN, WI, IA, ND, and SD.Ma...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Minneapolis / St Paul, MN: Mortgage interest rates have always been a roller-coaster ride. Ups and downs, and twists and turns.With the pandemic induced interest rate lows of 2020 and 2021 now a thing of the past, the return to a more normal interest rate patterns has many people freaked out.This historical mortgage interest rate chart from March 1971 to March 2022 is very interesting to look at.Oh course any rise in mortgage interest rates has an impact on a home buyers purchasing power, especially first time home buyers, so people are asking if they should wait to buy a home until rate come back down.First, look at the graph again. Now remember that if mortgage rates come back down, you can always refinance. But if you wait, and rates keep going up, then you are stuck with both higher...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Do you know what to look for when choosing a mortgage lender?You have most likely noticed ads for mortgage companies on the radio, TV and even at the gas pump. There are surely enough options to choose from, but how do you know if a lender is right for you? I've put together a few tips on what to look for when choosing a lender. Check them out below!Your Best InterestThe first thing to remember before starting this journey is that you are looking to make the best choices for your financial future. Making sure you enlist the correct team to help you do that is of utmost importance. Your Mortgage Loan Officer should want to sit down with you and review your current situation and future goals. At Cambria Mortgage, our focus is on you. I take the time to fully understand your unique financi...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Buying a home doesn't need to be complicated!Minneapolis, MN: When you're preparing to buy a home, especially for first time home buyers, it's really important to know what actions can make or break your transaction.Buying a home doesn't need to be complicated, but it's important to be informed and be mindful of how your decisions may effect your qualification for a mortgage. Doing things like continuing to pay your rent or current mortgage on time, maintaining consistent employment and avoiding opening any new lines of credit (No, you would NOT like to save 10% by opening a Kohl's card today!) will help you along your home buying journey.Check out the image below to play a quick round of "YES or NO: Planning Ahead for the Perfect Mortgage Application":  --------------------------------...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Minneapolis, MN:  It is no secret that buying a house in today's market can be a challenge with the low inventory of homes for sale, and having to make multiple offers before successfully buying a home.Falling in love with a home, and then having your offer rejected is no fun, and if you've been through a few rejections, definitely discouraging. Here are a few thoughts to mentally stay in the game, and potential options to make your offer stronger. Remember, it's not really 'you' that is getting rejected.  In a multiple offer game, especially these crazy 10, 15, 20+ offer homes, being the winner is tough, especially for first time home buyers with limited funds. Understanding the market and having realistic expectations helps.With your agent, try to obtain feedback of why your offer was...
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By Virtuance Real Estate Marketing, Nationwide photography/3D tour provider
(Virtuance)
The Minneapolis/St. Paul real estate market is one of the fastest-growing in the nation. As demand for housing grows, the average value of Minneapolis homes has increased by 5.7% over the past year. Minneapolis real estate agents will be competing with other real estate brokers for the attention of potential sellers. One of the most important ways a Minneapolis real estate agent can differentiate themselves from the competition is by conducting a thorough comparative market analysis.  What is a Comparative Market Analysis? A Comparative Market Analysis (CMA) is how real estate professionals price a property. This analysis is based on similar homes in the current market. These properties are either recently sold or currently for sale. CMAs utilize various data and comparison points to ev...
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By Joel Friday, Make sure your home is "SOLD by Friday!"
(Keller Williams Classic Realty)
Highway 10 in Anoka one lane for 2 yearsReal estate market data in Anoka MN by Joel Friday of Keller Williams Classic RealtyWell, winter is over so that must mean it is our other season in Minnesota, road construction. The next 2 years in Anoka and the following 2 years in Ramsey promise to be slow going to say the least. Good news though, once this project is done, there will no longer be any stop lights on highway 10 in Anoka or Ramsey. Meanwhile however, the pain begins shortly. Starting in April, from 7th Ave to Thurston, Highway 10 will be down to one lane. This year they will be removing the 4th Ave bridge and old railroad bridge and replacing those with a single bridge. The bridge over the Rum river will be half replaced. The bridge over Main St will also be half replaced. Then n...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
How to Pick the Best Mortgage LenderMinneapolis, MN: How to pick the best mortgage company is a very common question.  So how do you?  Below find some tips and thoughts to help point you in the right direction, and how to avoid some mortgage lender picking mistakes.Loan ProgramsFor most people with typical situations, every lender is going to have the exact same basic programs with the exact same guidelines. For example, your standard FHA loan, VA loan, Fannie Mae and Freddie Mac loans all have the exact rulebook that all lenders use.Getting into some oddball needs, one lender may have more programs than the next, so it may make a difference in products lenders can offer, and brokers will always win here, with the option to pick from many different lenders, versus the typical bank which...
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By Joe Houghton, Best Realtor in Minnesota
(Minnesota Property Group)
Homeownership in the Twin Cities Over the past two years, we have learned to love our Twin Cities homes a lot more as we have stayed at home more than ever due to the ongoing pandemic. Because of this, the individual and psychological advantages our residences provide have come to be even more crucial to us. When the wellness dilemma started, the globe around us altered almost overnight, as well as our homes were redefined. Our demands moved, and our shelters became an area that protected us to a whole new degree. I think that is what has pushed the demand for homes to such high levels. The more people are home, the more they realize what they want in their space. If you are looking for a new space or want to sell your current space, discussing this with a Top Twin Cities Real Estate Ag...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Cash Out Refinance is King in 2022Nothing lasts forever… Including tremendously low interest rates. Even if it is just slightly, interest rates in 2022  are expected to rise. Over the past few years though, home values have appreciated at an incredible pace. For the refinance sector, these factors draw the majority of consumers away from rate and term refinances and point them toward a cash-out focus instead.Home Owners Have More Equity Than EverMost current homeowners have built up quite a bit of equity, which should theoretically make qualifying for a cash-out refinance fairly easy for most. So is it the right move for you? We’ve laid out the most common uses for this type of refinancing so you can explore the possibilities. Like always, your team at Cambria Mortgage is here to help a...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Minneapolis, MN: Real Estate Agents are more likely to be credited as local neighborhood experts, while a mortgage Loan Officer is not, and the lender at the 1-800 phone number is OK to use.In fact, it is almost always never in your best interest to use a lender who isn't relatively local.Just like the Real Estate Agent, a Loan Officers knowledge and experience in the local community is extremely helpful in many ways.Understanding challenges clients face in the local market, like if seller paid closing costs are commonly allowed or not allowed by sellers, and how to structure your loan program to deal with that. Setting proper initial estimates for items like taxes and insurance.  For example, a recent client was initially pre-approved, but left a big online lender who was estimating th...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
The Federal Housing Finance Agency (FHFA), who oversee both Fannie Mae ™ and Freddie Mac ™ has officially announced the new conforming mortgage loan limits for 2022. Homebuyers will now be able to get a conventional mortgage to purchase a one-unit home for up to $647,200 in the states we lend of Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota! Some higher cost states, like California, will have higher limits, as will duplex, tri-plex, and 4-unit properties. This is an increase of $98,950 from $548,250 in 2021, making this the largest-ever annual increase for loans eligible to be purchased by Fannie Mae and Freddie Mac.What Does This Mean?Typically, a mortgage loan OVER this size would require a jumbo mortgage product. Jumbo loans involve more strict credit requirements as wel...
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By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Mortgage Closing Guarantees – Fact or Fiction - Don’t be fooled. Minneapolis, MN:  We are starting to see them pop up everywhere, mortgage companies,  mortgage brokers, and lenders, making these great sounding mortgage closing guarantees, where they make claims of paying $500, $5,000, or ever $10,000 guaranteed if they don’t close your loan, or if they don’t close on time. These offers vary from lender to lender, but the basics are the same. Claiming to pay someone if something happens. Some claim to pay the seller if the deals falls apart. Some claim to pay the Realtor, some claim to pay the buyer, some claim to make your first house payment. Wow…  Amazing, Awesome. Or is it? As with so much in life, it is probably smart to look at these claims and offers with a bit of a skeptical eye....
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Minnesota Real Estate Agents and Real Estate Professionals