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Anoka County, MN-The Concentration of Distressed Sales 2011

By
Real Estate Appraiser with Michael S. Bolton,Inc.

Knowing how big of a role distressed sales play within a particular market is essential, this helps appraisers and Realtors make the proper market based decisions when choosing comparable sales. The analysis for this report shows what the concentration of distressed sales (bank REO's and short sales) are within the cities of Anoka County as well as the townships.

Summary of the Concentration of Distressed Sales:

There were a couple of things that stood out for me; first, is that the number of distressed sales is fairly high, especially by historical standards. Second, the level of short sales was less than I had expected. There has been a lot of talk about how many short sales are out there, but for the most part they make only a fraction of the total number of distressed sales.

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Matthew Johnson
Keller Williams Premier Realty - Woodbury, MN

Great info Michael, I am going to run the #'s for my side of the TC metro!

Jan 19, 2012 01:43 AM
Roy Kelley
Retired - Gaithersburg, MD

Interesting report that is very valuable informaiton for those in the market.  A very high percentages of distressed sales means that there are many opportunities for home buyers.

 

Have an outstanding day and be sure to have your camera handy when you wish to capture those special moments.

Dahlias at Brookside Gardens IMG_5867

 

Photograph by Roy Kelley

Roy and Dolores Kelley Photographs

Jan 19, 2012 02:09 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hi Michael,  Great information from your point of view.  I think more people need to know about how thinks effect real estate.

Jan 19, 2012 03:52 AM
Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley Realtor since 1976; 408-373-4411

Michael, those high percentages surprise me.  I thought the Minnesota vicinity avoided the boom and therefore the bust.  I guess not.  Our numbers are reversed--twice as many short sales as REOs. The total was about 33% in most of 2010 and 2011.  Higher in the last quarter 2011.  You're in a very tough market.  I agree with Roy--good opportunities for buyers.  My prediction: In 10 years buyers will look back and wish they bought homes to take advantage of the low 2012 prices.

Jan 19, 2012 09:05 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Excellent presentation, Michael

  The Summary Table tells the story of what is really going on in your Market.  Nice work!

Jan 19, 2012 03:19 PM
Michael S. Bolton
Michael S. Bolton,Inc. - Zimmerman, MN
MN Appraiser

Matthew~Thanks!

Roy~You're right, just need to get the buyers to realize that.

Will~Knowing is half the answer-doing is the other half.

Lloyd~I whole heartily agree with your prediction, that many people will be kicking themselves in the can for not buying. This will not last unless our economy falls of the cliff, then nothing is going to matter.

I hear so much about short sales, but I'm just not seeing the numbers, I would like to find out the fall through rate of short sales. It must be fairly high.

Thanks Fred, I appreciate that.

Have an AWESOME day!

 

 

Jan 19, 2012 09:44 PM