Looking for a home in Maple Grove? Chances are you've looked at numerous bank owned homes. Nationwide, bank owned homes made up 28% of all sales in the first quarter of 2011, which is up 1% from the last quarter of 2010, but down 1% from a year ago.
At the same time, the Minnesota Association of Realtors reported this month that total inventory of homes was down 24.4% statewide compared to last year at this time. The hope is that this trend will result in the stabilization of the market, and a rise in home prices overall. Sellers are collectively hoping this will be the case!
In the meantime, buyers can still take advantage of the fact that housing prices have continued to fall for the past few months, and the price of a bank owned home in the Twin Cities, including Maple Grove, is 27% less than a home not in foreclosure. It's sobering news for homeowners who want to sell, but definitely creates opportunities for those who can buy!
Many bank owned homes in Maple Grove, MN are waiting for new owners! Let us help you find one that's perfect for you.