Foreclosure Home Tour, March 16th and April 5th - Reserve Your Seat Today!

EXIT Three Rivers Realty, a Twin Cities real estate company, is organizing a "Foreclosure Home Tour" to help pre-approved house-hunters become educated about buying foreclosures while seeing properties first hand. The first in a series, the "Foreclosure Home Tour" will be held on March 16th with registration beginning at 12:30 pm at the Wildwood Lodge.

Even though Minnesota foreclosures are a hot topic in the real estate and mortgage industry, there is a great amount of fear and misinformation regarding the process. Our tours are joined by Mike Locker, a mortgage consultant who has successfully established tours in the Duluth area, hope to encourage confidence and increase the knowledge base of the clients interested in the foreclosed properties.

According to Realtytrac.com Minnesota is ranked 25th in terms of foreclosure filings. We are seeing about half a percent in foreclosure rates for our state which is half of the national average of 1.033% in 2007. We are fortunate we haven't been hit as hard as areas like Las Vegas or Detroit.

Foreclosure tours have been conducted in California and other parts of the west coast. This is a first of its kind for the Twin Cities Metro area.

Foreclosure seekers usually want to purchase at the lowest prices. However, not all properties are bargain priced. There is still some care needed when selecting the property to purchase as not all properties are available in the best conditions. Additionally, Minnesota law has specific guidelines for redemption periods for the mortgage holder. The mortgage holder has six months to buy the property back after the sheriff's sale. The majority of mortgage holders, however, hope to sell the house in order to pay the lender and avoid the entire process all together. For the purposes of this tour, is featuring bank-owned properties because the homes are past the six month redemption period and the closing process is more streamlined.

We are so excited to offer this innovative opportunity to interested buyers. By partnering with them and sharing information so they can make a solid investment choice. Plus, if they do not find a property on this tour, we have another tour in April or we will assist them individually to find a property to meet their needs.

For more information on the Foreclosure Home Tour, please visit www.MinnesotaForeclosureTours.com or contact me directly at 651-209-9366