Team Nexus Real Estate Blog

How to Purchase a Vacation Home or Second Home with a REVERSE MORTGAGE

A reverse mortgage is a financial product that allows homeowners who are 62 years old or older to borrow against the equity in their primary residence. The borrower receives a loan in the form of a lump sum, monthly payments, or a line of credit, and the loan is repaid when the borrower sells the home, moves out permanently, or passes away.

If a person aged 62 or older owns a primary residence and is interested in acquiring...

When it comes to buying a home, many people start their search by browsing online listings and attending open houses. However, one effective strategy for home buyers is to have their real estate agent reverse engineer their next home purchase. In low inventory years, this becomes a great way to not only find potential off-market homes; but to have the right amount of time to get your financial situation in place and ready to buy without making any impulse decisions.  Here are some steps that ho...

As of the first 90 days in 2023, the following details what's happening to the Brooklyn Park Real Estate Values since 2018 to March of 2023.

From 2018 to 2020, the number of sales increased by 120 units, and the median close price increased by $33,440, from $250,000 to $283,440. This indicates a strong demand for real estate in Brooklyn Park during this period.

In 2021, although the number of sales remained similar to the previous year, the median close price increased significantly by $31,560,...

Mortgage interest rates are the rates that lenders charge borrowers to borrow money to purchase a home. They are influenced by a range of factors, including economic conditions, inflation, and monetary policies. Generally, higher interest rates make it more expensive for home buyers to borrow money, while lower interest rates make it more affordable.

How Mortgage Interest Rates Fluctuate

Mortgage interest rates can fluctuate frequently due to market conditions, economic indicators, and the acti...

Selling a home can be a daunting and complex process, and many local home sellers in Coon Rapids, MN prefer to work with an experienced local real estate brokerage like EXIT Realty Nexus. In this blog post, we will explore the reasons why local home sellers choose to list and sell their homes with EXIT Realty Nexus.

Local Market Expertise: An experienced local brokerage like EXIT Realty Nexus has extensive knowledge of the Coon Rapids housing market. They know the local neighborhoods, schools...

Andover, MN is a rapidly growing suburb located in Anoka County, just 20 miles north of downtown Minneapolis. It is a family-friendly community with a small-town feel and plenty of opportunities for outdoor recreation. In this blog post, we will explore the benefits of living in Andover, MN.

Excellent Schools: Andover is part of the Anoka-Hennepin School District, one of the largest school districts in Minnesota. The district has a reputation for academic excellence, with many of its schools...

A Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, is a loan that enables homeowners aged 62 and older to convert part of their home equity into cash without having to sell their home or make monthly mortgage payments. Here are some advantages of buying a home with a Home Equity Conversion Mortgage:

No Monthly Mortgage Payments: With a HECM, borrowers are not required to make monthly mortgage payments. Instead, the loan is repaid when the borrower sells the home, move...