Brought to you by Jason Sandquist

Foreclosures and Short Sales in the Twin Cities Update

Foreclosures and short sales in the Twin Cities accounted for 34.1% of the closed transactions in quarter three according to a report published by the Minneapolis Association of Realtors.

Lenders are seemingly discounting properties at steep prices to get rid of them and thus dragging down prices even further.

The foreclosures and short sales are starting to move into the upper bracket section of the market as well. Now prime mortgages are starting to feel the affect. Foreclosures increased from 166 to units to 207 in the $500k-1mil price range, a 24.3% increase. For homes that are over a $1 million, foreclosures increased by 81.3%.

Get the Quarter Three Report

If you enjoyed this post, make sure you subscribe to my RSS feed!

October 30, 2008 | Filed Under Bank Owned Real Estate, Buying REO Real Estate, REO Foreclosure Market Update, Twin Cities REO Real Estate | 1 Comment 

  • Online Community

    Comments are encouraged! Share with us your ideas or opinions revolving around REO properties and foreclosures.

  • Ask A Question

    If you have a question, feel like you can ask a question without being inundated with spam emails or drip campaigns. We hate spam more than you.

Fair Housing & Equal Opportunity