The Don Edam Group | Real Estate Professionals Serving Minneapolis, Edina, St. Paul and Surrounding Suburbs

Fannie Mae has just issued a press release letting it be known that they have ordered their loan servicers and attorneys to suspend any and all foreclosures scheduled from next week to the end of the year in homes that are owner occupied. This is being done while Fannie figures out how to implement a better loan modification program with all of its loan servicers.  This should help out with inventory numbers in early 2009.

We’re always attempting to stay at the forefront of technology (as long as it makes sense for our clients). Recently, a new way to create an eye-catching video came across our desk (err…screens) and it looks like its something we’re going to implement in all of our listings. Below is our first “test” video. Let us know your thoughts…

UPDATE (2/24/09): Revisions have been made to this bill with the American Recovery and Reinvestment Act of 2009.  After reading about this bill, read about the changes made here.

In this second post of our H.R. 3221, the “Housing and Economic Recovery Act of 2008″ Series, we talk about a provision included that allows most first time home-buyers to receive at $7500.00 tax rebate.  Make sure you read all the way through as there are some caveats and a TWIST.  Here are the details you need to know:

• The $7500 Tax Credit is available to firs-time home buyers that purchase a principal residence sometime after April 9th of 2008 and sometime before July 1st of 2009.
• The Credit is a “refundable” credit.  So, if you have a tax liability of $2000 next (more…)

Last Wednesday, President Bush signed H.R. 3221, the “Housing and Economic Recovery Act of 2008″ into law.  There are a bunch of items involved in this bill that may affect you as a current homeowner or a potential homeowner.  Here at The Don Edam Group, we’re going to spend the next 4 days pouring through the bill with you to give you the ‘ins and outs’ of each of the key provisions withing the bill.  We will begin this afternoon with a tax credit given out to certain first time home owners who qualify.  Stay Tuned…

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Google has been synonymous with everything from great search, to amazing free email, to maps, etc…but one of their relatively new features (for Minnesota at least) is Google Street View. Google Street View is built right into their Google Maps feature. The implications of this tool for your home search are enormous. Google Street View allows you to type in an address, location, or point of interest and then take a virtual walk through the neighborhood.

For example, if you were interested in our listing on 1511 W 33rd Street in Minneapolis and wanted to see how far your actual walk to Lake Calhoun would be, you could go (more…)

There are currently at least 29 short sales that are available for sale in the Edina and Southwest Minneapolis markets (found by searching in agent comments for “bank approval” and “short sale”). In the Camden area of Minneapolis, there are at least 70. If I look at Minneapolis proper, the number is over 315…St. Paul proper gives us over 300 as well. So, needless to say, there are a good amount of short sales out there. The question is, what does that mean to you, the buyer? How can you keep your dream home from vanishing before your eyes (like the one above)? Short sales open a whole new can of worms throughout the buying process…but first, a short (no pun intended) explanation of them. (more…)