Perhaps it has never been more important to use a North Saint Paul real estate agent who studies recent trends in Twin Cities market values. When we come out and visit your property to complete a Competitive Market Analysis (CMA), we will compare all of the features and benefits of your property to the competing homes for sale in the area. We need to look at all of the properties that have sold within the past few months to analyze what the actual sales prices have been. By doing this we will be able to estimate what price a buyer might pay for your house within a reasonable period of time.
One of the challenges for many sellers today is in trying to get enough for their house to pay off the their current mortgage. If a home seller owes more on the mortgages for their home than what we can sell it for we will either need to discuss paying the mortgages down, attempting a short sale, or listing the current home for rent and in order to move to another home. With the rapidly rising rents in today's market home sellers are often finding that they can cover all of the expenses for the home through their renter's income.
Lenders have specific guidelines for those North Saint Paul sellers who have decided rent out their home in order to buy another. Depending on the equity that you have in your home, a mortgage lender may or may not consider the rental income you receive when they qualify you for the new mortgage. The only way to know this is to call a lender to get preapproved.
Once we have a chance to meet to discuss the value of your current home it is important that you go through the process of getting prequalified for a home loan. Your mortgage lender can help you decide which of the options are best whether renting or selling your current house. The process of mortgage preapproval is free, and if you decide not to proceed, there is no obligation to borrow money. A good lender will be able to examine all of the options available to you such as MN FHA loans, Conventional, VA, or other types of mortgage loans.
The city of North Saint Paul is one of the more mature suburbs in the Twin Cities area with older homes and well planned neighborhoods. Located east of Saint Paul, MN, North Saint Paul is located within the boundaries Ramsey County. With a population of about 11,000 residents living here get a friendly feeling of a small town. With an ample supply of affordable housing, the city of North Saint Paul can be a wonderful place to search for homes for the Minnesota first time home buyer. If you are looking to live in North Saint Paul please give me a call to discuss the opportunities.
If you want to learn more about the process of selling your North Saint Paul home call me. I will arrange a time to come out and complete a competitive market analysis for free. We will discuss your options available in the market today. Feel free to send me an email or call me.
Sales Executive, Licensed Realtor in Minnesota
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities.