Ahmed Muhumud, Realtor

02/11/2024

There’s lots buzz about the significant housing investment that the legislature passed last year. One of these programs is particularly important for first-time homebuyers. It’s called first generation homebuyers and it provides forgivable interest free downpayment assistance to qualifying prospective buyers. The program hasn’t rolled out yet but it is expected that it will by the spring of 2024. You can get ready by working with your lender to get pre-approval, attend a homebuyer education seminar/homestretch and working with a qualifying realtor to help guide you through the buying process.

Here’s the link for the program page. I’m working with several prospective buyers to get ready and I’ll be happy to work with you if you’re interested.

https://www.firstgendpa.org

Thank you,
Ahmed

The Minnesota Homeownership Center offers free advisor services to help you buy a home, and help to prevent foreclosure when times are tough.

07/18/2023

Market remains strong despite higher borrowing costs

📈 June 2023 MNR Housing Report🏘️

Despite several year-over-year decreases across key housing market indicators in June, sales activity showed signs of warming up, and inventory experienced a slight increase over the previous month, indicating a modest upturn in the Minnesota housing market. The median home sales price crawled back up, increasing by 1.4% to reach $350,000 over the same period last year.

“We were encouraged by the increase in market activity last month,” said Emily Green, President of Minnesota Realtors®. “Prospective buyers adjusted to the higher mortgage rates and demand remained strong. We witnessed healthy competition for properties, with multiple offers in some areas. Although the state has a way to go in terms of achieving a truly balanced market, the inventory uptick during June was a welcome sight.”

Read our full June 2023 Housing Report: https://bit.ly/44oFzBQ

11/23/2022

New form of predatory financing scheme targeting unsuspecting buyers!

For Somali Muslim families in Minnesota, a contract for deed seems like an easier path to homeownership. But predatory practices and poor regulation can make it a financial trap rather than a good deal.

11/10/2022

In October, closed sales declined in all 13 regions compared to a year ago, bringing Minnesota’s average number of closed home sales down 30.7% year over year. The smallest declines were seen in Upper MN Valley at 7.3%, Arrowhead at 17.0%, and West Central at 17.1%. The largest declines were repor...

11/10/2022

07/27/2022

Signs of housing slowdown are here but don’t expect anything close to the last housing crash according to this article!

Florida and California are most at risk of experiencing a housing downturn during a recession, according to Redfin's latest report.

05/11/2022

Then and now!

Four Reasons Why There's Not a Housing Bubble in the US

04/25/2022

Excellent decoder of what’s happening with the skyrocketing housing prices and why it’s so different than the last housing crash in 2007/2008.

Despite fears of another housing crash, it’s not 2008, and the country has learned hard, useful lessons since the Wild West days of anyone-with-a-pulse lending.

01/22/2022

Spoiler alert: It’s a great time to sell.

01/19/2022

I'll be participating in the 2022 Real Estate Diversity Initiative (REDi) program by ULI (Urban Land Institute). REDi is an intensive cohort experience open exclusively to women and BIPOC professionals working in real estate and land use industries. I'm looking forward to the opportunity to expand my professional network and pick up the latest best practices and trends in the real estate industry, particularly as an aspiring developer. I welcome any feedback or ideas you like me to explore.