June 5th, 2010 5:02 AM by Joan Rusco
Minnesota and North Dakota Veterans your house may be increasing in value. For those of you still sitting on the sidelines and waiting to use your VA Home Loan benefits to buy that house, you may want to make a move soon. We at VALoansAmerica (formerly VALoansMN) have some interesting statistics for you if you live in Nevada, California or certainly Minnesota. Let's talk about what your VA Loan will buy in Minnesota first.
We have Minnesota clients using 100% VA financing and buying a 4 bedroom, 2 bath home with 5 acres of land for under $200,000. And that may be a real buy. According to the latest housing price report coming from S&P/Case-Shiller the Minneapolis area is one of the leading markets in the nation. According to their report the Metro Area of Minnesota has seen housing prices increase over 6% in the past year. Granted, we've not recovered the loss received in the past 3 years, but things are improving.
Now about California: holy cow, look at that price recovery! The Case-Shiller index shows prices in San Francisco up over 16%, San Diego up almost 11% and Los Angeles up 6%. Hey Vets, did you get your VA Loan in California and take advantage of this in the past year? If not, perhaps Nevada may be on your radar. We've not seen a recovery there, yet. The report shows Nevada housing prices still slumping.
According to the S&P/Case-Shiller report Las Vegas home prices are down another 12% this past year. Is anyone else tempted to take advantage of 100% VA financing, lowest mortgage rates we've witnessed in decades and these depressed home prices and move to Nevada? This is the reason our business expanded from Minnesota and North Dakota and started serving veterans nationwide including Nevada.
We think there's still a real opportunity for Veterans to get a great home buying deal in Minnesota, North Dakota, Nevada and California! You see, even though the housing market may have been torn apart in recent years, we at VALoansAmerica are optimists. Maybe it's our Midwestern roots. We still take time at our offices to sit around and talk to each other and our clients about the good things that can happen in this nation. We are still believers in this country, this economy and most of all the change that will inevitably come.