Visit msnbc.com for breaking news, world news, and news about the economy As the housing market improves across the country, certain cities are emerging as relative bargains.  Some areas, like Miami, were hit hard by the recession, and other areas are buoyed by good school systems and strong labor markets. In this 5-minute video from The Today Show, 10 cities are highlighted for their home prices.  And they're not "small towns", either.  Among the featured cities: Miami, Florida Akron, Ohio Tuscon, Arizona Minneapolis, Minnesota Trenton, New Jersey Now, this piece is about finding gems on a national scale.  They exist locally here in Maple Grove , too.  You just need to know what to look for. With mortgage rates low and tax credits available, it's not likely that bargains will last. 01/13/2010

Despite the headlines, it's important to remember that December's jobs report wasn't all bad news.  Sure, the economy shed 85,000 jobs last month and the Unemployment Rate failed to dip below 10%, but for home buyers and rate shoppers in Minneapolis , the news was just fine. The soft employment data led mortgage rates lower, making homes more affordable for buyers. There is two sides to every economic coin. Since early-2008, the U.S workforce has been closely tied to home financing. As the economy slowed and jobs were lost, Wall Streeters pulled money from the risky stock markets and moved it to of the relative safety of bond markets, instead. Safe haven buying led mortgage bond prices higher which, in turn, caused rates to fall. Mortgage rates fell to 6 all-time lows in 2009. In a rela... 01/13/2010

Data was sparse through 2010's first trading week last week, setting the stage for a week of momentum trading. In up-and-down trading, mortgage pricing improved overall but the best rates of the week didn't last long. Rates improved Monday and Tuesday as an oversold market corrected itself to better price points.  Then, in anticipation of the December jobs report, rates worsened Wednesday and Thursday.  Friday, after the jobs report was released, pricing proceeded to carve out a huge range before settling unchanged. On average, lenders issued new rate sheets every few hours last week. It was a difficult week to shop for mortgages in Minnesota and elsewhere. Unfortunately, this week doesn't figure to be much better.  For the second straight week, the economic calendar is bare.  Traders -... 01/11/2010

FHA home loans are federal assistance mortgages made by lenders, and backed by the government. The FHA doesn't make loans to Wisconsin homeowners - it insures loans made to homeowners by federally-qualified lenders. By all accounts, FHA home loans are surging in popularity. 2006, FHA insured 3.3% of all mortgages made. Q2 2009,FHA insured 19.2% of all mortgages made. A major reason for the increase can be tied to guidelines. As compared to its conforming mortgage cousins Fannie Mae and Freddie Mac, FHA home loans have lower downpayment requirements and looser credit standards. The FHA allows downpayments of 3.5 percent for homes in Maple Grove and Fannie Mae and Freddie Mac do not, as an example. Another reason is that FHA home loans aren't subject to credit score fees the way that conf... 01/11/2010

Both mortgage rates and home affordability took a turn for the better in Plymouth Wednesday after the Federal Reserve released its December 15-16, 2009 meeting minutes. The Fed Minutes is a follow-up piece to the post-FOMC meeting press release. But whereas the press release is succinct and to-the-point, the minutes are lengthy and often meandering. As a comparison, December's press release contained 535 words. December's minutes had 6,260. But these "extra words" aren't superfluous. They're actually very important to homeowners. Because the Federal Reserve's internal debates help to shape Wall Street expectations, it doesn't take much for those conversations to have a trickle-down effect on Main Street. For example, after the December meeting, the Fed said that economic growth is stead... 01/11/2010

Just one month after touching a 3-year high, the National Association of Realtors® Pending Home Sales index plunged in November.  A "pending" home sale is a home that is under contract to sell, but has yet to close. The 16 percent drop marks the first retreat in Pending Home Sales since January of last year. The weak Pending Home Sales data is an indication that Existing Home Sales data will be soft this month. This is because, historically, 80 percent of Pending Home Sales convert to "closed sales" within 60 days, and most of the rest close within 120. With Pending Home Sales down, the housing market should lose some of its momentum.  For today's home buyers, this kind of slack can represent a terrific opportunity. Home prices are a function of supply and demand; of buyers and sellers... 01/11/2010

2010 is just a few days old and already the "experts" are making predictions for the year. Housing calls and mortgage rate predictions run the gamut: Home priceswill fall in 2010. Home prices will rise in 2010. Mortgage rates will rise in 2010. Mortgage rates will rise by a lot in 2010. Given how varied their outlooks, it's clear that the professionals have no better view of the future than the amateurs. An expert can make an educated guess, but it's a guess nonetheless. Last year, Wall Streeters predicted a 25% pullback in home prices. 12 months later, we know prices didn't fall.  Wall Street also predicted higher mortgage rates for 2009. That prediction was fulfilled. There's a lot of talk on CNBC and elsewhere about what's coming in 2010. Before you take those predictions to the bank... 01/11/2010

Mortgage markets were relatively flat last week during holiday-shortened trading.  After starting the week with a Monday surge higher, mortgage rates settled down through Tuesday and remained somewhat flat into the early-close for New Year's Eve. However, as compared to the 4-month low posted post-Thanksgiving, conforming mortgage pricing has now worsened by more than 300 basis points.  In English, that means that a December 1 Minnesota mortgage rate quoted with zero points is available today at a cost of 3 points. 1 "point" is equal to 1 percent of how much you borrow. If you were shopping for homes or rates last month, you no doubt noticed that pricing zoomed higher to close out 2009. How 2010 starts is anyone's guess. This week will hold the answer. It's a week light with data, but h... 01/08/2010

For most in this market, conventional thinking would be that real estate agents would be notifying and motivate buyers to act quickly in order to take advantage of the $8,000 tax credit that is soon to expire in November.  The point I want to make is to sellers that may have equity left in their current home and who may want to move up either to a new or larger home.  With interest rates where they are now and the number of motivated buyers looking for starter homes, right now may be your best chance to take advantage of the current market.  Call me or e-mail me so I can share with you how this might be the best time in ages for you to sell your house and buy the home of your dreams.  You need to act quickly to ensure the best possible outcome.  Call now! 09/24/2009

Here is this months market report showing trends for the Plymouth area. Trends show median sale prices are still showing signs of stabilizing in Plymouth when compared to the rest of the metro.  The vast majority of sales in this area are still foreclosures which are impacting on this number.  Marketing times year to date have had a very small increase of just 11 additional days over last years numbers.  Total inventory is down 9% and closed sales are slightly higher.  Signs still point to sellers pricing their homes higher than the market is willing to pay, but the numbers also show sellers are being are more likely to negotiate an offer. These numbers show that sellers not needing to sell are removing their homes from the market and that the foreclosure inventory is being consumed by ... 09/22/2009

It's no wonder that builder confidence is soaring -- their inventory of homes for sale is depleting at a furious pace. For the 4th straight month, New Home Sales gained, posting the best numbers since last September's meltdown and handily beating economist expectations. The available supply of homes is down to 7.5 months nationwide. It's further evidence that the housing market may have bottomed at some point this past spring. To be sure, the strong housing data is, in part, a reaction to three outside factors: Low mortgage rates. An expiring government tax credit. Hefty builder incentives. But, buyers are buyers and the clearing out of outstanding inventory provides terrific support for home prices.  It also gives them reason to rise.  Coupled with the blowout Existing Home Sales numb... 09/21/2009

The national home supply is falling, down to its lowest levels since December 2008. In June, there was 9.4 months of supply, down from a year-ago level of 11.0 months.  It's one more sign that the housing market may be mending itself. Housing supply is an important metric because home values across every U.S. market are rooted in Supply and Demand.  When the supply of available homes outpaces buyer demand, home values tend to fall.  And, by contrast, when homes are relatively scarce, values tend to rise. We're still a long way from historical averages, but dwindling home inventory may be one reason why the national median sale price rose by $7,000 last month.  A reduction in inventory may also explain why two other popular home value metrics -- the government's Home Price Index and the ... 09/21/2009

Plymouth residents may see some property tax relief in 2010 if the approved Hennepin County tax levy in accurate. (Sept. 8) approved a maximum property tax levy for 2010, as required by state law. The net levy - coming from property taxes in the county - could increase by 4.95 percent over 2009, to a total of $676.2 million. The 4.95 percent increase provides: No increase for county operations; 3 percent to cover an expected surge in uninsured people seeking care at Hennepin County Medical Center as a result of the elimination of General Assistance Medical Care and other potential revenue shortfalls; and 1.95 percent for general economic risk and to give the county flexibility after the release of the state's November forecast. While some cities like Kenwood and South Minneapolis will l... 09/19/2009

Here is this months market report showing trends for the Plymouth area. Trends show median sale prices continue to drop in Plymouth but at a much slower rate than many other local cities..  The vast majority of sales in this area are foreclosures which are impacting on this number.  Marketing times year to date have had a very small increase of just 14 additional days.  Total inventory is down 12% and closed sales are slightly lower. These numbers show that sellers not needing to sell are removing their homes from the market and that the foreclosure inventory is being consumed by the first time buyers in our market It may also show that there is still a slightly stable and stronger market in Plymouth which could possibly be related to due to being a desired location for people going thr... 08/31/2009

Kim Melin | Edina Realty | 952-927-2888 3610 Zinnia Lane North, Plymouth, MN Great one level in easy location! Situated just off CR 9 & 494 - you can't top that! Charming patio for entertaining. 36" door openings, func 2BR/2BA Townhouse offered at $209,988 Year Built 1994 Sq Footage 1,500 Bedrooms 2 Bathrooms 2 full, 0 partial Floors 1 Parking 2 Car garage Lot Size Unspecified HOA/Maint $169 per month DESCRIPTION Great one level in easy location! Situated just off CR 9 & 494 - you can't top that! Charming patio for entertaining. 36" door openings, functional 2 BR + Den unit - Additional storage in garage attic! Great laundry & mudroom area. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - High/Vaulted ceiling - Walk-in closet - Living room - Office/Den - Din... 08/31/2009

The retail price of gasoline is rising nationwide, now up 30 percent since the New Year. It's a similar run-up to what we've seen for retail gas prices in each of the last 5 Spring Seasons. For people trying to time the mortgage market's bottom, clues about the future of mortgage rates may be at the local gas station. Rising gas prices are indicative of the rising cost of energy and, indeed, crude oil is closing in on its 2009 highpoint.  As these energy costs grow, so do inflationary pressures on the U.S. economy. Inflation, of course, is awful for mortgage rates. When it's present, mortgage markets deteriorate and rates tend to rise -- often sharply and with little advance warning. So, for today's homebuyers-in-process and would-be refinancers, prices at the pump may foreshadow bad ne... 05/11/2009

Would you believe?  My home town is #1 in the Money Magazine Annual Best Places To Live list.  How did this happen?  For years I've heard people complain that there is no "downtown" Plymouth or that Plymouth has no identity.  Well guess what!  Plymouth has other things that are also important. Plymouth has topnotch schools, both public and private, good jobs, a low crime rate, great parks, trails, recreation dept, lakes, the Hilde Performance Center and more! There is also the Plymouth Ice Center/Lifetime Fitness Complex.This facility is a first of its kind public-private collaboration. The City, Wayzata School District, Providence Academy and Life Time Fitness, with significant help from local hockey associations and the state of Minnesota, joined forces to make this first-rate recreat... 08/05/2008

Getting your home Sold in todays market!        Banking is in the news today alright! Now you can be the bank and sell your on a Contract for Deed and or a wrap around mortgage just check the Due on sale clause and the assumabilty of your mortgage, earn a excellent return on your investment and keep control of your Deed. 07/22/2008

Plentiful jobs, excellent schools, affordable housing - according to CNN's Money Magazine top 100 list of America's best small cities, 9 Minnesota cities have all that and more. And even better, the report ranked named our very own northwest suburb, Plymouth, MN, as the #1 place to live among U.S. cities with populations of 50,000 to 300,000! The ranking touts Plymouth's "topnotch" schools, plentiful jobs, affordable housing, low crime rate and active outdoor culture. In addition, the report shows that Plymouth has a significantly higher-than-average median family income, family purchasing power, math and reading test scores, and percentage of residents with a health plan (91.2%); AND lower-than-average auto insurance premiums, shorter commute times, and lower median home prices. Here a... 07/14/2008

This a fantasic opportunity for a buyer who wants more space and the chance to expand in the lower level with room for a fourth bathroom and another bedroom! 05/26/2008