minneapolis foreclosures: Minneapolis Foreclosure Properties - Investors....now is the time
- 04/15/09 09:08 AM
It looks like things are hitting a bottom. Banks are tired, prices have dropped precipitously. I work with investors and also with banks on foreclosure properties. Here are just a few of the recent deals that have come up: 1311 Wagon Wheel Road, Hopkins, MN - A townhouse located in Minneapolis' suburb, Hopkins. 2 Bedrooms, 2 baths with a 2 car tuckunder garage. How much? $62,500! It would rent for $1,000 a month minimum and with 20% down, it would cashflow right out of the gate. 2630 Humboldt Avenue North - Here is a two story, 3 BR/2BA home. Needs some … (0 comments)
minneapolis foreclosures: Did the Obama Administration Hear Me Regarding the Foreclosure Bailout?
- 02/19/09 06:43 AM
Several days ago I blogged that the next thing on the Obama Administrations plate was to deal with the foreclosure situation. I was extremely concerned that 'free money' was going to be given away to attempt to stem foreclosures - from people who had no intentions of paying back their mortgages even if they were adjusted. As someone who works extensively with Foreclosures and Bank Owned properties, I see a high percentage of these homes that have gone under NEVER had a payment made on them. Zero down loans and you didn't need a job or to show your income … (0 comments)
minneapolis foreclosures: Twin Cities Market Stats....dark clouds and silver linings?
- 02/18/09 12:50 AM
The Twin Cities Metro has seen the real estate bubble burst in many areas. Reviewing stats from the Minneapolis Area Association of Realtors, it shows what areas have been hardest hit by this tsunami. Here some stats for you to chew on: 10 Twin Cities areas where foreclosure and short sale listings make up the greatest share of homes for sale. Since these properties take a much bigger price hit than conventional home sales, this is in part an index of downward pricing pressures in those areas as a whole: 1) Brooklyn Center, 65.9 percent; 2) Minneapolis North, 64.9; 3) St. … (0 comments)
minneapolis foreclosures: Good News in Housing For Minneapolis!
- 02/17/09 12:07 AM
A recent study by Economy.com states that the housing cycle should hit the 'bottom' later this year. In many parts of the country, and localized in certain areas of the Twin Cities, home prices have dropped by over 32% from the peak in the first quarter of 2006. Think we have had it bad here in the Twin Cities? How would you like to live in Naples, Fl where prices dropped by 70.1% and a bottom is not expected to hit in that market until the fourth quarter of 2010. Other areas in Florida and California have seen prices fall by … (0 comments)
minneapolis foreclosures: Should There Be A 'Housing Stimulus' Bailout?
- 02/16/09 11:42 PM
With the recent stimulus bill just about inked, the new administration and Congress will begin focusing on a 'housing bailout'. My personal opinion is that a housing bailout done from Washington will be out of touch with what is really going on. Here is what is being bandied about: working with banks to provide interest rate relief so that people can stay in their homes. In theory, this sounds great; have the banks keep people in their homes by lowering their payments. In reality, this just seems to be like kicking a can further down the road. For someone who is … (0 comments)
minneapolis foreclosures: Minneapolis Foreclosure Hot Sheet!
- 02/16/09 07:57 AM
Buyers Wanted! Yes, I have been posting that there are some fantastic opportunties in the Twin Cities metro area right now. Here are just a few listings to wet your appetite! Kingfield, Powderhorn, Fulton, East Harriet, Linden Hills, Lynnhurst Neighborhoods.......
Don't see your zip code above? Contact me for my listings in other zip codes (email me or contact me through this blog!) … (0 comments)
minneapolis foreclosures: Foreclosure Opportunities in Minneapolis
- 02/16/09 07:24 AM
They are all over the place and banks are dealing. For investors with cash or the ability to get conventional or hard money loans, some serious opportunities exist. Here is one example of a fantastic opportunity for an investor. Three condominiums in a converted five-plex are available. Currently priced in the $35,000 - $55,000 range....but they aren't moving. Because of lack of revenue from association dues, the association is dysfunctional too! Banks are paying every month to maintain these properties, not to mention lost interest and use of what capital remains. But, if an investor came in and the banks allowed … (0 comments)
minneapolis foreclosures: Foreclosures in Minneapolis
- 03/17/08 08:47 AM
A huge opportunity lies ahead for investors that want to catch homes as they bottom out in the current Real Estate downturn. Here are some excellent resources for looking into the foreclosure marketplace: StarTribune's Foreclosure site - http://nc.startribune.com/projects/foreclosures/ This site is excellent as it shows you in an interactive way where in the Twin Cities Metro area you can find homes that are in foreclosure. Gopherhomes Group Site - http://www.gopherhomesgroup.com This site is an excellent site providing both investors and sellers the opportunity to get together on a purchase of a home that is in foreclosure or about to go into foreclosure. If you are currently … (0 comments)
It looks like things are hitting a bottom. Banks are tired, prices have dropped precipitously.;)
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