A Surprising Insight About COVID Loan Forebearance

Did you participate in a mortgage loan forebearance during COVID?

I spent over an hour last week with Wendy, who works with a law firm that represents homeowners who are struggling with their mortgage payments, resulting in short sales.  A short sale happens when a seller needs to sell, but the market price is less than what they owe on the home.  The lender decides to accept less for the mortgage and the home then gets sold.

The point of our conversation was for her to enlighten me about how homeowners that participated in COVID loan forebearance determine how they should pay back the amount accrued during the forebearance period.  The fact is, a lot of homeowners don't know how their…

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Happy New Year!

Market Update?  Yep!
If you're wondering when Spring market starts, here's a quick yardstick for you:

January 1:  Buyers are back and deals start happening.  The energy shifts and I/you can just feel the market starting to come back to life after the holiday slumber.

February 9:  This is Super Bowl weekend.  I don't think there's any special link between the game and the market activity, but it's around this time that peak buyer activity happens in the market.

Mid-May:  Spring market starts to wind down.  Homes still sell, but the energy downshifts a bit.

If you're a buyer, think about getting into the market between now and Feb 9.  New listings are coming to the market but buyer activity is just starting to grow.  You might find…

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Merry Christmas!

First of all - Merry Christmas and a Happy New Year!  I hope 2024 was everything you wanted it to be and, if not, that 2025 delivers for you!  

Who knows what the new year will bring?  In my five years being a full-time Realtor, my guess is that it likely won't be what you think!  The real estate business is, for sure, a tempermental one.  Will the housing market get hot again next year?  Will rates stubbornly stay where they are?  Will the stock market keep zooming ever upward?  What effect will politics have on the economy and the market?  Lots of things to consider - especially if you're one of those people or families who don't just want to move next year, but really need to:

  • New birth
  • Passing of a family member
  • New…

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In case you were wondering, "Where are those weekly emails from that real estate guy in Minneapolis/Saint Paul"?, well, I have to confess that Nancy and I were on our annual international town-to-town hiking vacation, this time on the coast of southern France and Catalonia.  Every time we go on one of these hikes I'm always afraid I'm going to see the same things we've seen on previous international hiking trips.  I'm always wrong about that.  Every new place has something new to show us.

Same goes for housing, by the way!  If you've been looking for a while and are afraid you'll just keep seeing the same thing over and over, just remember that every home is different - especially these older homes in Minneapolis and Saint Paul - and that if you keep…

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Thanksgiving is upon us tomorrow.  Thank you for being part of www.realestatemitch.com, whether you signed up on your own or we met at one of my open houses.  I'm grateful to be working in this business and to be able to meet and talk to others like yourselves who might need my help along the way.  Have a great Thanksgiving, wherever you are!

If you're wondering what's going on in the real estate market right now, you might enjoy reading through this latest report from the Minnesota Realtor's Association.  It's an easy to read snapshot with some great charts and graphs showing listings, sales and pricing strength.  Take a look and, as always, if you have questions or want more information, just call, email or text!

Here's the link to the October…

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It just occurred to me that the month is half over, Thanksgiving is on the doorstep and Christmas is just weeks away!  Reminds me that the new year is coming right up and that's when the housing market ramps back up again!  Until then, here's what's on view tomorrow in what's still a pretty solid market...

Open Houses This Weekend

Saturday, November 16, 11 am - 1 pm
70 Lawton Steps, Saint Paul, MN
$489,500   2 bedrooms, 1 bathroom, 1410 square feet
More info here:  https://bit.ly/3AM4WUG
Two things you may have noticed about this so far: 
*  The address is 70 Lawton STEPS
*  There's no garage
This architectural gem is not located on a street, but directly ON the city-managed stairway that connects Lawton Street and Grand Avenue.  The good news is that you…

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Hoorah!  The election is over!  The Fed just reduced their interest rate again!  It still feels like Spring!  If you've been sitting on the sidelines (or know someone who is), I have an open house in Woodbury that will help get everyone's head back into the game.  Some of you may know that I spent a career at 3M - which is headquartered in the east metro - so I spend a little time out that way as well as Minneapolis and Saint Paul.  Take advantage of a beautiful day tomorrow, stop by and take a look.

Open House
Saturday, November 9, 11:30am - 1:30pm
9490 Wedgewood Drive, Woodbury, MN
$775,000   5 bedrooms, 4 bathrooms, 2 car attached garage, 4890 square feet
More info here:  https://bit.ly/4fI1uJH
This grand home is located on the 1st hole at Prestwick and…

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You may be wondering if I do anything but host open houses...and I do!  I had the priviledge of helping three clients (buyers and sellers) officially close on the sale of their homes in October.  It's always a good feeling to see everyone happy about their new home or the sale of their current home.  If you're thinking about buying or selling, I'm here for you!

OK, back to open houses this weekend and I have three great homes for you to stop by and see!


Open Houses
Saturday, November 2nd, Noon- 2pm
705 Oakland Avenue, Saint Paul, MN

$700,000   3 bedrooms, 3 bathrooms, 2 underground parking spaces, 2395 square feet
More info here:  https://bit.ly/4hmze0O
Wonderfully updated, wood floors, sweeping sky-high windows, natural light, a kitchen made…

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This week, I'm jump starting the open house offering by hosting again TONIGHT at this amazing townhome just off of Summit Avenue in Saint Paul.  Great attendance last week and for good reason!

Open House, Thursday, October 24, 4pm - 6pm
705 Oakland Avenue, Saint Paul
$700,000   3 bedroom, 3 bathroom, 2 garage spaces, 2395 square feet
More info here:  https://bit.ly/4hmze0O

* Soaring ceilings
* Natural light from windows throughtout
* Hardwood floors
* Updated, welcoming kitchen and entertaining area
* Spacious owner's suite
* Private, secluded back yard
If you're looking to downsize and live in the city, you won't believe all this townhome has to offer.

See you this evening!

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I don't even know how to pick the best one of my weekend opens, so I'm pleading, imploring ... just stop by each one!  I have three great opens this weekend:  one in South Minneapolis, one in downtown Minneapolis and one just off Summit Avenue in Saint Paul.  Here's the line-up:

Saturday, October 19, 12 noon - 2pm
3421 Fremont Avenue S, Minneapolis, MN
$535,000  3 bedrooms, 2 bathrooms, 1 car detached garage, 1914 square feet
More info here:  https://bit.ly/48anqdR
Welcome to your private oasis just blocks from the chain of lakes! This charming home on a quiet, one-way street offers the perfect blend of comfort and convenience. The main floor is an inviting, flowing space filled with natural light, character and classic elegance. Features include brick…

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