Heating up the Summer Homebuying Season

7/22/2013

This past week’s heat wave has helped remind us that it is truly and definitely summer in Minnesota. For some, summer might mean swimming in the lake or enjoying an ice cream cone. In the real estate world however, summertime is often associated with homebuying season.

4366 Sheridan Ave N

One resource that MCCD offers for prospective summertime homebuyers is OwnaHomeMN.org. This website is a centralized, one-stop shop for low to moderate income families who are exploring homeownership in the Twin Cities area. The website has listings of affordable single family, condominium, and townhome ownership options constructed or rehabilitated by local non-profit developers. I can tell the developers are hard at work for the homebuying season as we’ve had daily postings of new listings just this past week. (You can sign up for updates or follow OwnaHomeMN on Twitter to see new postings.)

Throughout the summer, we’d like to highlight the work of OwnaHomeMN. For our first update, we’ll share the work of one of our member organizations that has been involved with the website from the start.

PRG has been a trusted non-profit partner since 1976, working to “transform homes, neighborhoods, and lives.” Although originally PRG worked primarily in the Powderhorn neighborhood (where their name comes from), for the last four years, PRG has been working in both Minneapolis and Brooklyn Park. Focus areas in Minneapolis have been the Jordan, Harrison and Phillips neighborhoods. Over the last four years, PRG has completed the renovation of 40 vacant, foreclosed homes that have been reclaimed by new homeowners. All of these homes were sold affordably, meaning no buyer spends more than 30% of their household income on their mortgage payment.

Prospective homebuyers looking at PRG properties might interact with Erin Wilson, the Real Estate and Development Coordinator. Erin has been with PRG since 2001 and has had many years of experience working as a real estate agent. Erin not only helps prospective buyers through the process of purchasing a PRG property, including all the income qualification documentation, but she helps find the homes that PRG acquires too. She also lists the properties that are for sale and works with the Realtors.

Erin Wilson, PRG

This summer, Erin is excited about the ‘Green Homes North’ initiative. PRG will be building four Energy Efficient GREEN homes, two in the Jordan neighborhood and two in the Harrison neighborhood of North Minneapolis.

Erin says, “Ownahomemn.org is unique, because unlike the MLS, we have the freedom to state the names of our programs and give specific information about the assistance that is available.  It also enables us to put homes on the website that are recently purchased for renovation, so folks can easily see what we have in the pipeline. I also use the site to refer buyers when they are specifically looking for homes with assistance or homes that have been renovated through a non-profit.  This is as important today as it was four years ago when the site was first started.”

PRG is also a developer of multi-family housing, with a new development called Spirit on Lake opening in September.

Here is one listing that PRG has available right now, a 3-bedroom house in the Victory neighborhood of Minneapolis (pictured above).

Thanks Erin and PRG for the great work that you are doing!