Minnesota Fixer Upper

So where’s the “Shadow”. So far it appears to be more hype than reality.

the Mortgage Bankers Association bought this building less than 3 years ago. Now it can’t afford the payments so it did a short sale and must move out.

[ February 13, 2010; 9:00 am to 10:30 am. ] Home affordability has never been better. This is especially true with the discounted prices on foreclosures and short sales.

[ February 18, 2010; 6:30 pm to 8:00 pm. March 4, 2010; 6:00 pm to 8:00 pm. ] If you or someone you know is struggling with a mortgage come and learn your options. We are dedicated to helping solve this crises one homeowner at a time.

[ December 7, 2010; 6:30 pm to 8:00 pm. ] These are great loans in today’s market, because there is so much fixer upper inventory available today. The FHA 203K also allows even first time home buyers to customize a home to fit their dreams. this program can be a great way to create the home of your dreams.

We are so lucky to have so many talented people on the Minnesota Real Estate Team!
Our team has put together 5 new seminars!!!!

Could this be the beginning of the so called “Shadow Inventory” coming to market?

10% Down for investors through HomePath… the program also includes fix up funds.

Shadow inventory refers to the inventory of homes in default that are not yet on the bank for sale inventory

Back on May 1 of this year the Home Valuation Code of Conduct (HVCC) took effect.Then in order to comply with the HVCC many mortgage companies decided that the best way to comply was to employ Appraisal Management Companies (AMC).
Buyers should be made aware that there are lenders who have taken the proper steps to deal with HVCC without having to hire AMCs.