First Time Home Buyers Give Market A Boost!

Affordable home prices combined with historically low mortgage rates and first-time buyer's tax credit are fueling the sudden real estate turnaround. We've heard of open houses with a home that was priced in the $110,000 - $115,000 range getting 30+ people through in two hours. And many homes are now selling in multiple offer scenarios. Our optimism is supported by hard numbers. Pending home sales have jumped 20% compared to the same period a year ago. Chris Galler heads The Minnesota Association of Realtors® and says the housing market in the $100,000 to $250,000 price arena is extremely hot right now.