Home Buying in Minneapolis>Question Details

Themis Woods…, Home Buyer in Cincinnati, OH

Where can I find a list of bank owned, foreclosures, pre-foreclosure etc condos or townhouses in the?

Asked by Themis Woodson, Cincinnati, OH Wed May 28, 2008

minneapolis downtown are? I'm moving to area and have been trying to 8-9 months. The condo market seems to not have reacted to the market downturn. Looking for 2 bedrooms, 2 bathrooms at minimum.

Help the community by answering this question:

Answers

7
I have clients that are buying condo's for 50 cents on the dollars everyday downtown. Most foreclosures are on the MLS. Our company has the two biggest foreclosure listing agents in Minnesota. We can find out about homes before they go on the MLS.
Web Reference: http://www.JoeNiece.com
0 votes Thank Flag Link Thu Jun 19, 2008
Signing on with a Buyer's Agent to help you search and to protect your interests is the most effective way to get all available info. You need to have an agent who is willing to do the work for you vs. one who just searches the MLS. I have had good luck with some of the sites listed below but find that a daily search/compilation of properties being emailed to a client is the most comprehensive-and least labor intesive for the client!- method of finding a bank-owned/preforeclosure/shortsale/etc bargain.
0 votes Thank Flag Link Wed Jun 11, 2008
Julie,

The RMLS is creating a search, but there are many limitations to it so I think its effectiveness in its current version will be limited. For instance, "not disclosed" is an option. Also, they will not be including a "short sale" category, which is a substantial number of properties.
0 votes Thank Flag Link Mon Jun 9, 2008
Themis,

The Downtown Minneapolis condo market cooled a little before much of the rest of the market did, so prices fell pretty substantially on much of that inventory a year or more ago. If you've been looking for 8-9 months you're missing something... there's been a lot of activity in that time frame and something should have come up if your wants/needs were in line with the current market.
0 votes Thank Flag Link Thu May 29, 2008
Whenever possible, make sure you are represented by a licensed real estate agent. The agent can find properties for you that the general public doesn't have access to. Here are a couple of websites to get you going. There is auction of foreclosed properties this weekend (5/31 and 6/1) the properties being auctioned are at http://www.ushomeauction.com. Another website that is helpful is http://www.MinnesotaREO.com
Web Reference: http://www.JackieFunk.com
0 votes Thank Flag Link Thu May 29, 2008
Themis, I have a steel of a deal on a condo in Bloomington just south of downtown. This condo has all of the upgrades: mapel cabinets, maple floors, granite countertops, 2 beds, 2 baths, 12' ceilings, 2 parking stalls, a workout facility, private car wash, fireplace, ceiling fans, and much more. The seller wants out BAD! they have the condo priced almost $50,000 below its 2004 purchase price. Would you be interested in taking a look at it? if you are interested e-mail me at TimMurphy@JohnsonMurphyHomes.com

Oh, by the way I specialize in helping buyers purchase Foreclosure and Short-Sale homes. I have helped many buyers save $20,000+ on the purchase of foreclosure and short-sale properties in the Twin Cities area. If you want to learn more click on my web reference below for more details.

Thanks
0 votes Thank Flag Link Wed May 28, 2008
You can get that information by having a Realtor email you listings directly from the MLS. There are also some subscription services you can pay for. However, I've found that those are typically outdated.
Web Reference: http://www.thegoheens.com
0 votes Thank Flag Link Wed May 28, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer