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Fed increasing rates? Seems Unlikely.

At the onset of 2016, the Federal Reserve had planned on raising interest rates four times over the course of the year.  However, since the last rate hike in December of 2015, the Fed has changed their tune and is now only planning on two hikes; the first of which could take place this July.  The reason for the reduction in hikes is due to slow economic growth and the uncertainty of the United Kingdom staying in the European Union, which as of today (6/20) has the referendum passing by a very slight margin of 44% to 43% with 2...
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Wealthy Americans

The National Association of Realtors just came out with a new article about how the consumers confidence regarding the real estate market has grown over the past 18 months.  However, as home values appreciate, the pool of buyers is dwindling due to affordability.  You can read the article in its entirety here: Americans Are Feeling Wealthier, More Upbeat Meanwhile, here in Minnesota the consumer confidence is still very strong with many homes surpassing buyers expectations.  Homes, listed appropriately, sell within 30 days of hitting the market, but now that we are heading into the summer travel season, both buyers and...
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Wells Fargo and “YourFirstMortgage”

Last month, Wells Fargo launched a new product called “YourFirstMortgage” which was created for first-time buyers and low-to moderate-income buyers.  The premise behind the product is to assist first time buyers or buyers with limited available funds to purchase a home through a 3% conventional loan with a mortgage of up to $417,000.  The difference between this program and other 3% conventional loans are as follow: Buyers can utilize gifts and community-assistance programs for the down payment  Minimum FICO score is 620 Homebuyer education courses are NOT required but if taken may help reduce the interest rate No income limit...
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For the discouraged seller

If you are selling your home in Carver County chances are you are getting a bit discouraged at the moment.  While it is true that traditionally it is best to list your home between the months of March and June, this year we experienced an early spring market which officially started back in February and with an early spring means an early summer.  The market peaked back in April with inventory hitting a yearly low of only three months with it climbing back up to approximately five months here in late May.  What does this mean exactly?  Well, basically it...
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