Mary and Mark Gores Prior Lake Real Estate Blog

  As promised, we would like to discuss the FHA 203K (rehab) loan a bit today. There are many houses available but a lot of them it seems need some work, or are missing appliances or something.  How are buyers going to be able to bring their 3.5% down payment to closing and still be able to have money to fix what is wrong with these ...

  While it is true that there are a lot of "deals" in the marketplace right now, it is also true that a lot of them are in need of repairs.  Most buyers are opting for an FHA loan where only a 3.5% (of the appraised value) down payment is required.  The FHA has always been stricter on property condition than conventional ...

I stumbled upon an article today by Tycoon Report proposing 4 ideas to fix the housing mess.  In it they bring up 4 ideas they think might help to fix the housing mess we are in.  I certainly agree that what we are currently doing is not working very well and different ideas need to be explored.  I particularly liked the ...

With foreclosures and short sales still reaching epidemic proportions, we felt it was necessary to obtain additional education and training in this area.  While we have been working very successfully with the banks on the foreclosure properties, we wanted to be better able to help those sellers before a foreclosure was necessary.  ...

This week's pick of the week is a 4 BR 2 bath split entry home in Shakopee, MN.  The home has been foreclosed and is on the market for $151,500.  It last sold for $263,000 in 2004 and is still in decent shape; excellent value.  We'd be surprised if this house doesn't get snatched up next by a first time buyer taking ...