Fewer Minnesota Foreclosures On The Market

According to a recent report by the National Association of Realtors, NAR, the number of foreclosed homes for sale in Minneapolis, Minnesota has seen a steep decline since one year ago. If you haven't heard, Minnesota is one of only 6 states that have seen the number of home sales rising. This coupled with the fact that Minnesota mortgage rates are still very low and as recently as 5 weeks ago, the Minnesota mortgage rate for a 30 year fixed mortgage dipped below 4.5% are possible reasons for the supply of foreclosed homes in Minnesota going down.

There are still a ton of great deals on the market, especially for the Minnesota first time home buyers, who are still eligeble for the $8,000 tax credit. If you are a Minnesota first time homebuyer you may want to start getting serious about buying a home as the $8,000 tax credit is set to expire on November 30th, 2009.

For free access to Minnesota MLS listings visit www.mnonlinemls.com. For more information contact Dominic DesMarais at 612-247-8233.