Save up to $500 with Edina Realty Mortgage!

Now through December 31, 2007, apply for a loan with Edina Realty Mortgage and receive up to $500 off closing costs.  Amount of discount depends on the loan amount.

Coupon for $500 off closing costs

Posted by Aaron Dickinson - Edina Realty on 09-19-2007 at 03:09 pm
Posted in Info for Buyers, Mortgage Market with 0 Comments

Mayor Rybak Isn’t The Only One Embarrassed

In a recent Star Tribune article, Mayor Rybak says he’s embarrassed by the failure of the Minnesota Legislature and Governor to reach a deal for new money for road and bridge repairs/improvements.  While Governor Pawlenty’s argument that the legislature was asking for too much could be valid, the refusal by both sides to do anything for our failed infrastructure is absolutely unacceptable.

One of my roles as a Realtor is to negotiate for my client’s best interest… and 99% of the time my client gets what they wanted.  Here are professional politicians, a.k.a. negotiators of everything, and they can’t come to any sort agreement on one of the biggest issues we’ll have in this state.

Write your representatives, force the issue, be heard before we lose any more time!

Posted by Aaron Dickinson - Edina Realty on 09-16-2007 at 11:09 pm
Posted in General, Opinion with 0 Comments

August Minneapolis/St. Paul Home Sales Stats

In August 4,173 closed in the 13 county metro area.  This is down 17.8% over last year and a whopping 40.2% over two years ago.

For the period of January - August 2007, there have been 28,739 closed sales, down 14.9% over last year and down 27% over two years ago.

It’s a slowing market… which is great for 1st time buyers and move-up buyers but not great for downsizing households.  Houses can sell quickly though… just sold one of my listings in 3 days!

Posted by Aaron Dickinson - Edina Realty on 09-16-2007 at 03:09 pm
Posted in General, Info for Buyers, Info for Sellers with 0 Comments

Wanted: Rental Placement Agency

I get quite a few calls for people looking for short and/or long term rentals.  If you are a rental agent/agency and you’d like to pick up some additional business, give me a call.

Posted by Aaron Dickinson - Edina Realty on 09-11-2007 at 11:09 pm
Posted in General with 0 Comments

Loan Officer: I Have The Same Products As I Did 5 Years Ago

I was talking to my favorite loan officer, Cheryl Stuntebeck at Edina Realty Mortgage, about the current market for loans.  While most lenders have tightened up lending standards, the current loan loan products she has are almost identical to the ones she had 5 years ago.  This means that 100% financing is very limited, that credit scores and income verification are necessarily most of the time, and that sanity has come to the lending market.

Some of the standout loan products today are geared to 1st time and/or lower income borrowers.  Via government-sponsored programs there is still 100% financing with market rates and no mortgage insurance.  No private loan program can beat that!

The loan products that we had 5 years ago worked just fine for consumers… we had great sales activity and low defaults in those years… and will serve us yet again.  While lending has tightened, it isn’t like we’ve gone back to 1980’s style loans… there’s still a lot of great options in this market and I’m quite confident that qualified buyers will still be able to buy a home in this changed landscape.

Posted by Aaron Dickinson - Edina Realty on 09-10-2007 at 09:09 pm
Posted in Info for Buyers, Mortgage Market, Opinion with 0 Comments