The cities of Minneapolis and St. Paul are trying to go on the offensive and encourage buyers to come back to the cities and buy up all the foreclosures for sale. I know investors who are working in both cities. Many of these homes are not suitable for a traditional buyer. You have to have quite a stomach for some ugly housing. That said, I’m sure there are some great deals and the cities are willing to cough up some money and other assistance to help you purchase a home in Minneapolis and St. Paul.
The web site, www.LiveMSP.com is very slick. I wish them luck selling these properties, but this looks like a classic, PR/political move and what comes to mind is putting “lipstick on a pig.” If the houses looked as good as the web site, they’d be gone in 30 days.
The StarTribune published a story earlier this week on the launch of the new initiative by Mayors Rybak (Minneapolis) and Coleman (St. Paul).
