Twin Cities Bank Foreclosures – 10 Things You Need to Know Now
Bank foreclosures and distress sales of all kinds continue to provide both challenge and opportunity for today’s real estate consumer. Lately I have been inundated with requests to receive information about foreclosures and distress sales — both how to purchase them as well as where to find the best lists.
Some of you may already be receiving my customized distress sales lists on a daily or weekly basis. I have spent time and energy to create a highly customized search methodology that mines the MLS for all the foreclosures and distress sales. You’ll be hard pressed to find this anywhere whether it’s from a public real estate/broker site or another agent. If you would like to receive your own customized search, please fill out the form at www.DistressSalesTC.com.
Purchasing a distress sale or foreclosure is a different deal than purchasing from a normal or traditional seller. If you’re in the market to buy, you absolutely should be considering the distress sales and foreclosures first, but you have to have the right strategy including the proper mind set and expectations going in.
Because distress sales and foreclosures are becoming such a large part of the market – 20 to 30% in some areas – I have developed a Bank Foreclosure/REO Buyer representation specialty in my real estate practice. Having invested significant time and money in training and education in the distress sale market, I am much better able to help my buyers and sellers understand this growing segment of the marketplace. I am also part of a nationwide real estate network where I am able to tap in to the latest information and trends going on in the foreclosure and distress sales markets across the country.
This segment of the market is changing rapidly and it’s driving every segment of the real estate market. For example, did you realize that the banks are starting to change their strategy when it comes to listing property? Do you know what constitutes a good offer today – one that the banks will review and possibly accept? There are many things that need to be taken in to consideration when evaluating whether or not to make an offer on a bank property.
Given the fast changing market and all the questions I have received, I thought it would be helpful if I created a report that had some of the key information in it for you to quickly get up to speed on bank foreclosures and distress sales. I have created a free – no obligation 6 page special report entitled, “Twin Cities Bank Foreclosures – 10 Things You Need to Know Now.” (click the link which will then open another page. Please click the link again to open the pdf file). If you’re unable to open the attached file, you can e-mail me or fill out the form at www.HowToBuyTwinCitiesForeclosures.com. The information is based upon my knowledge from my national network and research, as well as my extensive training and experience in this area. This year I’ve been able to help 5 clients find incredible deals by purchasing bank owned homes or short sales.
With regard to the overall Twin Cities real estate marketplace, it continues to see some improving activity compared to last year when the subprime crisis began in earnest September 2007. For commentary as well as the latest detailed report from the Minneapolis Area Association of Realtors, click here.
The S&P/Case-Shiller Index just came out again today. I will try to get the new data tables published this afternoon.
 
 
