VA Loans Blog

Housing Slump Over for Some-is Your State Recovering?

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.

Posted in:General
Posted by Joan Rusco on June 5th, 2010 5:02 AM


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