Can You Assume a 3.25% FHA Mortgage? A Minneapolis Condo Example

Can You Assume a 3.25% FHA Mortgage? A Minneapolis Condo Example

When people talk about buying a home, most assume they'll need to take out a brand-new mortgage at whatever interest rates are available today. But there's another possibility that doesn't get nearly as much attention: assuming the seller's existing mortgage.

I'm currently representing a condominium at Summit House in Minneapolis where the seller has an existing FHA mortgage with a 3.25% interest rate. And importantly, Rocket Mortgage has verbally confirmed to the seller that the loan is assumable by a qualified buyer.

With mortgage rates substantially higher than 3.25% in recent years, it's worth taking a closer look at how an assumable mortgage works, what a buyer might…

37 Views, 0 Comments

What $250K–$500K Buys In & Around Northeast Minneapolis: Loft, City Home or St. Anthony?

What $250K–$500K Buys In & Around Northeast Minneapolis: Loft, City Home or St. Anthony?

When someone tells me they want to live in Northeast Minneapolis, one of my first questions is what they actually want that to mean.

Are they looking for a loft with exposed brick and a more urban feel? Do they want an older single-family home with a yard and garage? Or would they consider moving just across the Minneapolis line into a first-ring suburb while staying

close to everything they like about Northeast?

Three properties we're currently representing provide a pretty good example of just how different those choices can be. They're all within a relatively small part of the Twin Cities, but at roughly $250,000, $370,000 and $500,000, they offer…

129 Views, 1 Comments

Outdoor Recreation in South & Southwest Minneapolis: Lakes, Minnehaha Creek, Trails & More

Outdoor Recreation in South & Southwest Minneapolis: Lakes, Minnehaha Creek, Trails & More

One of my favorite things about living in South and Southwest Minneapolis is how easy it is to get outside without really leaving the city.

You can kayak Minnehaha Creek, fish from the shore of Lake Harriet, bike around the Chain of Lakes, swim across Lake Nokomis, take a sailboat onto Bde Maka Ska, wander onto a dirt trail along the creek or ride all the way into the mountain bike trails at Theodore Wirth Park.

My family actually does a lot of these things. And after living and working in this part of Minneapolis for years, I think the park, lake and trail system is one of the things that's hardest to appreciate until you've lived near it.

If…

65 Views, 0 Comments

What Can $500K, $750K & $1 Million Buy in Southwest Minneapolis?

What Can $500K, $750K & $1 Million Buy in Southwest Minneapolis?

One of the hardest things to explain about buying a home in Southwest Minneapolis is that price doesn't move in a perfectly straight line.

Spend another $200,000 and you don't necessarily just get a bigger version of the same house. You may get closer to the lakes. You may move from a story-and-a-half to a two-story. You may pick up a second bathroom, a two-car garage or a primary suite. Or you may actually buy a smaller house because it's sitting on a beautiful block a short walk from Lake Harriet or Minnehaha Creek.

After more than 20 years of selling homes in Minneapolis, one thing I've learned is that Southwest Minneapolis is really a collection of small micro-markets. The…

293 Views, 0 Comments

4 Featured Homes in Minneapolis & Edina: What Makes Each One Different

4 Featured Homes in Minneapolis & Edina: What Makes Each One Different

Bedrooms, bathrooms and square footage only tell part of the story when you are comparing homes in Minneapolis and the nearby suburbs. Two properties at similar prices can offer completely different locations, layouts, levels of renovation and day-to-day lifestyles.

I spend a lot of time selling homes in Southwest Minneapolis, around the Minneapolis lakes and in Edina, and these four current listings are good examples of that. They range from a character-filled Kenwood home near Cedar Lake to a move-in-ready two-story in Edina. Rather than simply running through the listing details, I wanted to explain what I think is particularly interesting about each one after spending time…

275 Views, 1 Comments

Seller Credit vs. Price Reduction: Which Saves a Home Buyer More?

Seller Credit vs. Price Reduction: Which Saves a Home Buyer More?

When negotiating the purchase of a home, buyers naturally focus on price. If a seller is willing to give up another $5,000, $10,000 or $15,000 to put a deal together, asking for that amount off the purchase price may seem like the obvious choice.

But it is not always the only option worth considering.

Depending on the buyer's financing and the terms permitted by the loan program, seller dollars may potentially be used toward closing costs or a mortgage rate buydown instead. Those alternatives can affect a buyer's upfront cash requirement or monthly payment very differently than reducing the purchase price.

After more than 20 years helping buyers and sellers negotiate real…

50 Views, 0 Comments

How Much House Can You Get in the Western Suburbs of Minneapolis?

How Much House Can You Get in the Western Suburbs of Minneapolis?

One of the most common questions I hear from buyers looking west of Minneapolis is simple: how much house can I actually get for my budget?

The answer changes considerably depending on where you look. A budget that might purchase an updated home on a smaller lot close to Minneapolis could open up larger homes, newer construction or more land as you move farther west. Around Lake Minnetonka, location, lake access and the individual lot can change the equation again.

After more than 20 years working with buyers and sellers throughout Minneapolis and the western suburbs, I have found that the most useful approach is not simply asking which suburb is the least or most expensive. It is…

1223 Views, 0 Comments

Western Suburbs of Minneapolis: A Local Guide to 20+ Communities

Western Suburbs of Minneapolis: Which Community Fits What You're Looking For?

The western suburbs of Minneapolis cover a much broader range of communities than the name might suggest. A house in Golden Valley five minutes from Minneapolis offers a very different experience from a lake home in Orono, a walkable condo in Wayzata or newer construction in Victoria.

After more than 20 years working in Twin Cities real estate, I find that buyers looking west of Minneapolis usually aren't trying to identify one universally “best” suburb. They're trying to figure out which communities fit their priorities, budget, commute and preferred type of home.

This guide is designed to help narrow that search. For current listings throughout the area, you can also…

67 Views, 0 Comments

St. Anthony Main Minneapolis Condos for Sale | Real Estate Guide

St. Anthony Main Minneapolis Condos for Sale: A Local Real Estate Guide

St. Anthony Main occupies a distinctive part of the Minneapolis condo market. Sitting on the east side of the Mississippi River across from downtown, the area combines riverfront trails, historic architecture and some of the city's most recognizable skyline views with a collection of condominium buildings that can be very different from one another.

I've worked with downtown Minneapolis condo buyers and sellers for more than 20 years, and St. Anthony Main is a good example of why I encourage buyers to compare buildings—not just individual units. A condo at Phoenix on the River is a different ownership experience from a unit at The Falls or Pinnacle, and Village Lofts is…

49 Views, 0 Comments

What 114 Accepted Offers Tell Us About the Twin Cities Housing Market Right Now

What 114 Accepted Offers Tell Us About the Twin Cities Housing Market Right Now

If you're trying to figure out what's happening in the Twin Cities housing market, there's always a challenge with the numbers: most of the statistics we see are looking backward.

Closed sales happening today may have been negotiated four to six weeks ago. By the time those transactions make their way into a monthly housing report, the market may already feel different.

That's why I found some recent accepted-offer data particularly interesting.

Home Free TC, a Twin Cities transaction coordination company, recently shared data from 114 accepted offers their team coordinated across the seven-county metro between September 1 and September 25, 2026.

It's…

46 Views, 0 Comments