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Where Are All These Foreclosure Listings?

I have several saved searches for a variety of different buyers looking in throughout the Twin Cities area for a new home in Minnesota. Right now there does not seem to be a lot of new listings coming out. There seems to be 4-5 buyers for every one good house. Sure there are the non desirable houses out there that no one wants. But homes that work for the typically FHA buyer there just are not that many.

So where are all the foreclosure listings? Some have been saying more listings are coming after the first of October. Is that enough time for the first time buyer credit?

If a BANK has a house to list now I would suggest they list it now. There are ready, willing and able buyers looking for a house NOW.

There are not even many short sales available. Most of these are listed ACTIVE in the MLS, but a call to the agent reveals they have an accepted offer subject to bank approval.

If you look at the papers you see all the notices in there (and there have been many pages full for several months), but when will those numbers match up with what gets listed?

Is October 1st the date we see a heavier listing load of REO come out? We will find out soon!

Posted by Chuck Carstensen on 09/25/2009 07:02 AM

Comments (5)

minnesota homes for sale, reo listings in minnesota, short sales in minnesota

Originally posted at: Isanti - Sherburne - Wright - Anoka County Minnesota Real Estate Blog: Where Are All These Foreclosure Listings?

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5 Comments on Where Are All These Foreclosure Listings?

SEP

Chuck - I had a meeting with one of my REO clients and they forecast a steady pace through 4th quarter 2010. Of course they are looking at it from a national standpoint and local numbers will vary.

If the lenders are moving slowly as prices increase, they may have a good marketing plan.

Chuck, we are seeing the same thing here, a shortage of short sales and foreclosures. I go along with Roy says regarding their marketing plan.

Chuck, the inside info I have is that don't wait for the new batch of foreclosures. They won't be as plentiful as many think.

SEP

hey Chuck. Have you been watching the auction sites? payout isn't as good, but there are a couple coming up that might be holding up some of the inventory. the big one is the redc down in the cities. i have two neighboring homes that need to be sold as they are sitting vacant and i can't even find them in their own banks inventories! strange.

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