There are two new assistance programs available in Minneapolis for home
buyers and home owners, but act fast because they are limited in
availability and funds.
First, Neighborhood Housing Services of Minneapolis is offering home
buyers in North Minneapolis a $5,000 forgivable loan towards the down payment of a home if a purchase agreement is signed by May 31 and the
sale is closed by August 15. If the new owner lives in the home for 5
years, the interest-free loan will be forgiven. There are no income
restrictions for qualifying. Loan funds for this program are limited to
$100,000, so when it's gone, it's gone!
Second, homeowners and buyers in foreclosure-impacted neighborhoods
of Minneapolis can apply to the City’s Rehab Support Program. It has a fund of $750,000 with which to finance to complete improvements, potentially increasing the home’s market value. The pilot program offers loans of up to $20,000...
A new round of
home buyer programs have started or will be starting soon in the Twin Cities.
First, the Minneapolis Advantage program will help at least 200 people buy of foreclosed or vacant houses in targeted areas of the city. It offers as much as $10,000 in forgivable loans toward a down payment, closing costs or repairs for vacant or foreclosed single-family houses or duplexes.
Applicants who earn less than 80 percent of area median income ($64,720 for a four-person family) are eligible if they buy a foreclosed house or one vacant more than 30 days in these neighborhoods: Bryant, Sheridan, Lind-Bohanon, Venture Village, Whittier, Audubon Park, Holland, Phillips West, Cleveland, McKinley, Harrison, Powderhorn Park, Webber-Camden, Midtown Phillips, Folwell, Near North, Central, Willard-Hay, Jordan, Hawthorne, East Phillips or Beltrami.
People earning less than 120 percent of area median income ($97,080 for four people) are eligible...
According to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities, the number of February 2009 new listings in Minneapolis dropped compared to 2008’s figures. There were 764 new listings in the city, while in 2008 there were 952, a decrease of -19.7%. The Longfellow and University communities of Minneapolis saw slight increases in new listings, while the rest of the communities saw their new listings decrease. Here is an inventory of February 2009 new listings in Minneapolis by community and the percentage of change from 2008.
Camden 98 (-27.9%)
Downtown Minneapolis 97 (-26.5%)
Longfellow 43 (+4.9%)
Nokomis 94 (-8.7%)
North 115 80 (-30.4%)
Northeast 55 (-15.4%)
Phillips 17 (-65.3%)
Powderhorn 51 (-30.1%)
Southwest 117 (-3.3%)
University Area 14 (+7.7%)
Uptown-Lakes 97 (-4.0%)
For the year to date, there have been 1,583 homes...
It’s this first real estate market analysis for Minneapolis in 2009! The number of January 2009 new listings in Minneapolis has declined compared to 2008, according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. But they’ve increased compared to last month! There were 820 new listings, while in January 2008, there were 982, a decrease of -16.5%. Downtown Minneapolis saw an increase in new listings, while the rest of the communities saw decreases in new listings. Here is an inventory of January 2009 new listings in Minneapolis by community and the percentage of change that has occurred compared to January 2008.
Camden 107 (-24.6%)
Downtown Minneapolis 149 (+12.9%)
Longfellow 46 (-14.8%)
Nokomis 90 (-4.3%)
North 81 (-48.7%)
Northeast 64 (-16.9%)
Phillips 26 (-7.1%)
Powderhorn 70 (-16.7%)
Southwest 76 (-12.6%)
University Area 19 (-32.1%)...
The Near North Community can be found on the north and west side of Minneapolis. It is bordered to the south by Bassett’s creek, to the west by Penn Avenue, to the north by Lowry Avenue North, and to the east by I-94, Lyndale Avenue North and the Mississippi River. Contained within it are six smaller neighborhoods.
Hawthorne - The Hawthorne neighborhood is in the northeast corner of the Near North community in Minneapolis. The neighborhood is bounded by the Mississippi River on the east and Emerson Avenue on the west; Broadway Avenue is the southern extent and Lowry Avenue is the neighborhood’s northern boundary. The Hawthorne neighborhood is named after the American writer Nathaniel Hawthorne, born in 1804.
The Hawthorne neighborhood is also the home of Farview Park, the oldest park of Minneapolis, the Nellie Stone Johnson School, and the Orvin Olson Park near the Mississippi River.
Home...
It’s that last real estate market analysis for Minneapolis for the year of December 2008! Let’s get to it! The number of new listings in Minneapolis has declined compared to 2007 again during the month of December, according to the
Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. There were 555 new listings last month, while in December 2007, there were 567 new listings, a decrease of just -2.1%. The Northeast, Powderhorn, and University Area communities saw increases in new listings while the rest of the Minneapolis areas saw decreases in new listings. Here is an inventory of December 2008 new listings in Minneapolis by community and the percentage of change that has occurred compared to December 2007 (Previous Barker & Hedges article about
November 2008 Minneapolis Real Estate Market Activity.)
Camden 102 (+ 4.1%)
Downtown Minneapolis...
The number of new listings in Minneapolis has declined compared to last year again during the month of November, according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. There were 634 new listings, while in November 2007, there were 711 new listings. That adds up to a decrease of -10.8%. During November, several communities did experience increases in new listings. The Nokomis and Uptown-Lakes communities saw decreases in new listings. Here is an inventory of November 2008 new listings in Minneapolis by community and the percentage of change that has occurred compared to November 2007 (Previous Barker & Hedges article about October 2008 Minneapolis Real Estate Market Activity.)
Camden 107 (+11.5%)
Downtown Minneapolis 88 (-9.3%)
Longfellow 38 (+5.6%)
Nokomis 50 (-40.5%)
North 77 (-26.7%)
Northeast 55 (+12.2%)
Phillips 20 (+17.6%)
Powderhorn 48 (-4.0%)
Southwest...
The number of new listings in Minneapolis once against declined during the month of October compared to last year, according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. There were 877 new listings, whereas in October 2007, there were 1,012 new listings. That adds up to a drop of -13.3%. During October, the University and Downtown communities experienced the greatest decrease in new listings. Conversely, the Camden, Phillips, and Powderhorn communities saw increases in new listings. Here is an inventory of October 2008 new listings in Minneapolis by community and the percentage of change that has occurred compared to October 2007 (Previous Barker & Hedges article about September 2008 Minneapolis Real Estate Market Activity.)
Camden 151 (+11.9%)
Downtown Minneapolis 85 (-40.6%)
Longfellow 42 (-28.8%)
Nokomis 121 (-11.0%)
North 98 (-14.0%)
Northeast 73 (-6.4%)
Phillips 24 (+14.3%)...
The number of new listings in Minneapolis decreased during the month of September compared to last year’s statistics, according to the Minneapolis Area Association of Realtors’ Market Update for 100 Twin Cities Communities. In that month, there were 892 new listings. In September 2007, there were 1,021 new listings, which adds up to a drop of -20.3%. During September, the Nokomis, Downtown, Uptown-Lakes, and Northeast communities experienced the greatest decrease in new listings during September. On the other hand, the Longfellow community saw a 42.5% increase in new listings. Here is an inventory of September 2008 new listings in Minneapolis by community and the percentage of change that has occurred compared to September 2007 (Previous Barker & Hedges article about August 2008 Minneapolis Real Estate Market Activity.)
Camden 115 (-10.2%)
Downtown Minneapolis 122 (-20.3%)
Longfellow 57 (+42.5%)
Nokomis 82 (-35.4%)
North 104 (-1.9%)
Northeast...
