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Tim Little's Blog

By Lakeville Realtors | Agent in 55044

Homes for Sale Apple Valley, MN - Foreclosure Stats September 2010


For those of you tracking the real estate market and want to know more about foreclosures in the Apple Valley, MN 55124 area please have a look at the information below.  Foreclosures are still on the rise no mater what they tell you.  The data below is straight off the Dakota County Sheriff's website and they of all people should not lie to us.  The interesting thing as you look at these numbers is that for the first 9 months of 2010 foreclosures are already at or surpassing the total number of foreclosures for all of 2009.  This is not good news if you are selling, but if you are looking to buy or invest, yes invest, what a wonderful market.  The people that are buying up today are investing in their future. With interest rates hoovering around 4%, banks selling off inventory, seller's trying to sell, the market is ripe for investing and holding.  The higher you buy in the better return in the long run.  Oh yes, the real estate market will come back and those that get in now will be much better off than those that got in 5 years ago.  Looking for great deal or just looking, give your REALTOR Tim Little a call today.  Tim will help you sort through the home buying process from start to finish.   Tim Little@KW.com  (952.953.9500)

Dakota County Foreclosure Stats – September 2010

• # of Sheriff Sales in September – 216 (compared to 157 in September 2009)

• Total Sheriff Sales for 2010 – 1,685 (compared to 1,349 in Jan.-September, 2009)

• # of Notices of Pendency Filed in September – 356

• Total Notices of Pendency Filed for 2010 – 2,949

A Notice of Pendency is filed by a mortgage company’s attorney as official notification that the

foreclosure process has begun. Not all of these result in Sheriff Sales. Pages 3 and 4 of this PDF

file have Sheriff Sale and Notice of Pendency statistics for each city.

In The News

• Foreclosure sales are expected to slow down as lenders scrutinize their foreclosure methods and proceedings.

• The foreclosure crisis may last even longer than expected as lenders and loan servicers are bombarded with more lawsuits and investigations on claims of falsified mortgage documents.

• In the near-term, the foreclosure freeze may benefit homeowners as they’re able to stay in their homes payment-free for longer. However, the freeze may have grave consequences on the housing market since all of the foreclosed properties have to be reexamined by the banks and then sold.

• Bank of America’s decision to freeze foreclosures will have a significant impact on thousands of borrowers in Minnesota.

 

Foreclosure Summary for September 2010

Dakota County

Sheriff Sales

City              Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec 2010 2009*

Apple Valley 31  17   24    27   32     23   26  27     23                                 230  236

Burnsville     36  30   21    27   39    28    45  32     31                                289  290

Eagan             21  29   30   20    25   14    30   23     27                                219  259

Lakeville       25  28   25   34     31   25    26  28    35                                 257  257

Rosemount  11   4    10    6       4    10     11 13     10                                   79   103

SOURCE: Dakota County Sheriffs Foreclosure Data

*For all of 2009

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