REO Bank Owned Sales are up 10.4% this Quarter!

Ex. Only 45 Bank Owned Homes Available in Blaine

The number of Bank Owned homes remaining in many suburbs of Minneapolis MN are declining.  For example, in Blaine MN the inventory is down to 45 units and declining.  Only 60 days ago, there were 80 Bank Owned Single Family Homes available for sale in Blaine, MN.  With 35 sales in less than 60 days, there is an obvious increase in buyer activity focusing on Bank Owned Inventory.  As of this posting here is a quick snippet of the available (single family homes) Bank Owned Homes For Sale in Blaine MN:

12 Homes Remaining between $71,000 to 15,000 3-4 Br 1-2Baths

10 Homes Remaining between $150-200k  3-5 Br 2 Baths

10 Homes Remaining between $200-300K   3-5 BR 2-3 Baths

8 Homes Remaining between $300-400K   3-5 BR 2-3 Baths

5 Homes Remaining between $400K +   3-5 BR 2-3 Baths 

To obtain the details or the currentstatus of the available inventory or for homes that are soon to be listed by banks in the north metro area, contact me or your REO Broker today. 

For those looking for indicators of a potential market swing, consider these:  Over 40% of the Bank Owned Inventory sold in less than 32 days on the market.  Approximately 59% of those sales were under $200k.  The indicators here are obvious!  There is more consumer confidence regarding price and the cost of borrowing money.  First Time Homebuyers are purchasing the majority of these homes followed by the Investor pool.    Real Estate Market indicators generally star us right in the face for a short while with most people paying very little attention.  Think for a moment what may begin to happen when the first time pool of inventory begins to diminish.  First time home buyers will be looking at strong entry points, the early bird buyers have already gained an equity position on their homes and the trickle effect begins to impact the step-up inventory in the same way.   For those who say the market correction will take a few years, they are correct only from a global or national perspective.  Each market center has their own dynamics as indicated in this particular municipality of Minneapolis, MN.    From the above inventory statistics, here is another advantage for those early bird buyers.  The ‘Days on Market' (DOM) for the pending and sold listings in the past two months was only 32 days.  The DOM for the available bank owned single family homes are 128 days and the DOM for the homes that are not bank owned are 178 days.  That means that many of the really ‘hot' deals fly into escrow (pending sold) very early in the listing period.  How does this happen, are they impulse buying or do they have an REO Broker who knows about these deals well in advance of the properties becoming available to the general public?  Clearly more and more consumers are realizing the importance of becoming the most informed consumer in their marketplace and the savvy buyers are aligning themselves with professionals who are engaged in both REO and retail inventory.  When your or your sphere is ready to consult with an engaged REO Broker, you should consider calling me for a FREE consultation.  That one hour consultation will empower your to make the right choices associated with developing your personal wealth with the real estate market.  This includes our ‘Sellers Advantage Programs' that help our sellers regardless of their equity or short-equity positions in their current home.  If you have any questions associated with the following, you may need to arrange your FREE Consultation with us:

• How do I find out about the great deals before they even get listed for sale?
• Which homes qualify for FHA buyers?
• Is it true that some banks only accept CASH Buyers?
• Can I sell my home even if I owe more than it will sell for?
• How can I get a great deal of a foreclosed home without all the risks like as-is etc?
• How can I buy a home when nobody answers their phone to answer questions?
• If the property is listed for sale and I want to pay that price, why can't I buy it for that price?
• Is it true that if I have someone successfully negotiate a short sale on my home that I can purchase a home again as soon as two years after closing?  Isn't my credit damages for a long time? 
• What is the difference between a full foreclosure, pre-foreclosure and bankruptcy?
• What are the implications associated with a full foreclosure, short-sale or bankruptcy?

The fact is, if any of the above questions concern you; I would be willing to meet with you to discuss your options.  My specialty as an REO Broker is helping people with Short-Sale options and Bank-Owned Homes For Sale.  Some people feel they can get a better deal surfing the ‘not-so-up-to-date' available properties for sale and driving around town calling the listing agents who typically do not answer the phones or post more than one photo on their listings.  I cannot help foreclosure buyers who choose not to be helped.  It would be my pleasure helping those wanting to get a great deal whether buying or selling real estate in the metro area.

I look forward to your call. 

Frank D'Angelo REO Broker/SRS

EXIT Realty Executives (EXIT is your safe passage)

(763) 548-1444 (Single number reach will find me!)