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Foreclosure in 55343 : Real Estate Advice

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  • Local Info1
  • Home Buying7
  • Home Selling0
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Activity 6
Mon Apr 9, 2012
Susan Hofflander answered:
Hi, Tony_tx22!
Um, there's no link here to tell us which property you're referring to. I'm happy to look it up for you, but you have to tell us where the property is.

Thanks!
0 votes 3 answers Share Flag
Tue Feb 15, 2011
Patrick Howard answered:
$58,000 less seller paid closing costs is really low and I doubt the bank would even counter that offer. You'll never know until you try however. Also, if you're going to use an FHA loan, be sure that there is nothing that would prevent it from appraising. The missing water heater may prevent it from FHA financing and the bank most likely will not replace it. There are a number of other things you'll want to watch out for so I would suggest that you work with an agent that has plenty of experience working with bank owned homes. ... more
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Sat Jun 20, 2009
Elizabeth Fuller answered:
Deka - MN MultiHousing is a good source for apartment complexes and other information about market rate and subsidized units. You will find them on the Internet and also in the telephone book. They show a matrix that will tell you what is available and any amenities. Good luck! Liz, 612-986-4105. ... more
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Mon Jun 8, 2009
Brad Anderson answered:
What city are you looking for?
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Mon Jun 23, 2014
Aaron Dickinson answered:
6% of the homes being for sale in a development at any one time is quite high. When you have that many for sale at once, the price competition heats up dramatically because a buyer has multiple of the same model to look at and can choose both the best condition and the best price and not have to leave the development to find it.

As a buyer, the townhome & condo market is ripe with opportunity as there is so much to choose from and some sellers have to sell. On the other hand, the oversupply of condos and townhomes will continue for some time and with this being a young development, turnover will naturally remain high for several years to come.

Market bottoms are impossible to predict and interest rates are very low right now so this might be a good time to pick up the right home at the right price, but I'd recommend that with developments like this you look at a 4-5+ year timeline for ownership simply because this market is not going to change overnight. This is a good location though and will always have that going for it, no matter the market.

Next week the REALTOR associations will be releasing 2007 market statistics and I'm looking forward to seeing what other trends become apparent when we're able to review the entire year at a glance.

As to the number of rentals, if you contact the association they typically require registration of rentals and can tell you. Many associations limit the number of rentals to keep the community predominantly owner-occupied and also to keep FHA financing approval, which limits the number of rentals allowed.
... more
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Wed Nov 21, 2007
Lenny Frolov answered:
Thats a tough question to answer only because I would need to know what you plan on accomplishing with that info. As far searching for foreclosures; the only true way is to either look for them in the Finanance and Commerce newspaper where they will be pre foreclosures or you have to go to the county sheriffs office and they have records of all sheriffs sales that occured in the past 6 months. You could look on the MLS with certain "tag words" but not all foreclosures are on MLS and would not find all of them anyway. When it comes to looking for quick claim (actually quit claim) I would like to know why? Quit claim deeds have nothing to do with foreclosures and definately dont have anything to do with good or bad deals. If you do want to search for quit claims anyway the only way is to go to the county and do title searches on property which is an extremely time consuming endeavor. If you need more specific information or have more questions let me know. ... more
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