Short Sale, Divorce, Financial Issues, Need Help, Champlin MN

Real Estate Agent with Keller Williams Classic Realty

Short Sale, Divorce, Financial Issues, Need Help, Champlin MN

Courtesy of Heidi Herda Champlin Resident & Realtor ~ 612-807-4858

Champlin, MN 55316 has had a large inventory of short sale properties in the last few years. Recently, the market has been flooded mainly with your typical residential home sellers which has shown improvements in pricing your Champlin home for a quick sale. The goods news to seeing the average distressed property (short sale or foreclosure) in the lower end ratios is that it doesn't have a lot of effect on pricing for a residential home.


In comparison to other north metro cities, it seems Champlin, MN may have been hit a little harder with short sale properties. In Minnesota it's very typical to see the inventory levels decrease as winter approaches, but short sales and distressed property sales are usually not effected by the climate and continue all year long. Now that we're headed into the Spring Real Estate market we'll see a more leveling off of distressed homes and the market will once again be mainly residential/traditional home owner's.

Short sale, divorce, financial issues, need help, champlin mn

As you can see from the chart provided, the number of active listings in Champlin, MN 55316 increased by 44.8% from the previous month, Spring has sprung and the current Champlin Real Estate market is off to a great start! The median number of days active properties have been listed is 32, which is significantly shorter than the national average!

If you're thinking about purchasing a Champlin, MN short sale 55316 click the link to be added to the updated Champlin short sale list so you know when the next great deal is going to hit! If you think you may need to consider a short sale as an option to selling your home, I'm happy to speak with you confidentially about your options.


The number of sales in January dropped 36.8% from the previous month which is quite significant, but as you can see from the graph distressed properties (short sale or foreclosures) remain a small percentage of home sales for the Champlin, MN 55316 area. This is a good thing for traditional home sellers to regain some of the lost equity we saw from the previous market crash. 

Short Sale, Divorce, Financial Issues, Need Help, Champlin MN


As you can also see from the graph Champlin is for the most part owner occupied, or the owner occupies the property as their primary residence versus a rental property. 

Today's distressed property percentage is 16% which is still high, but much better than the 19% distressed properties in Champlin we saw during the colder months. Unfortunately, we know that some Champlin home owner's may still be struggling to find a way out and avoid foreclosure. Being experienced with short sale properties, I would be happy to discuss what to do if you think you may need to short sale your home. 

I understand the situation is not ideal and many situations related to short sales in Champlin, MN are primarily out of the home owner's control. The good news is that the debt relief act has been extended into this year which means favorable things to home owners that need to do a short sale on their property. A short sale is not typically a favorable situation, however, in some instances is the best possible option if you're feeling overwhelmed with payments, experienced a job loss, or several other scenario's. A short sale is usually better alternative to a foreclosure as in most situations a short sale will allow  you to purchase a new home within 3 years where a foreclosure can be 7-10 years before you have the ability to be a home owner again.

If you are considering a short sale, consult with an experienced short sale expert that is willing to be on your side through the entire transaction. A short sale can be daunting at best, but when you consider the alternatives and long run damage to credit and the possibility of home ownership in the future a short sale is usually the best plan.

If you need help getting started with your short sale, please consult with me on your next steps. I will sit down with you, explain your options, what a short sale entails and work to get you legal representation so you are protected along the way. Remember Champlin property values continue to rise, let's discuss if you even need a short sale or if we can get you close to a break even point so you can walk away from your home and start fresh and new.

If you have a general Real Estate question don't hesitate to ask, I'm always happy to help and guide Champlin residence with their Real Estate needs. You can contact me via email at or 612-807-4858. To see current Champlin, MN 55316 homes for sale you can visit my website at You may also contact me for a referral to an experienced lender that would be happy to answer any questions about loan options, credit scores, or down payment information.


Thank you for reading Heidi Herda's Champlin Resident & Realtor blog, "Short Sale, Divorce, Financial Issues, Need Help, Champlin MN!" Don't forget to "like" my Champlin Real Estate Facebook page!


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Heidi Herda 612-807-4858

Keller Williams Classic Realty
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