One of the counties hit the hardest by the market downturn is Isanti County.  I live in Cambridge, MN which is the largest city in the county.  I actually do a large portion of my business in surrounding counties.  Now because of the drop in the prices there are currently some great deals out there.

I was checking to see how many townhomes and condos are currently available in Isanti county and there are 115 active listings.  To put that in perspective there are only 12 pending sales and 7 total sales closed on these type of homes in the last 2 months.

I drive by these homes all the time. Most of these are new construction homes and a good share of some other ones are bank owned.

Right now there are many very nice homes for close to or below $100,000. At the top of the market the same home was around $150,000.  That means most people can get into a nice townhome for what it would cost to rent.  Also, with all the properties on the market they can't help but come down some more.  I figure they will drop about $20K more and then that will be the market bottom on these homes.  Some of these homes are at bottom prices.  So buyers and investors its time to get out the check book or make a call to get pre-approved for these low priced nice homes!