Find REO Bank Owned Properties

Here is a great website for home buyers looking for properties that are REO (Real Estate Owned), Bank Owned Properties or foreclosures. Minnesota REO Buyers is a web community run by Elevation Realty Group that seeks to deliver transparent information revolving around bank owned properties and foreclosures.

This site is dedicated to only bank owned homes in the Twin Cities metro area. It is the only web community around that provides help and questions to buying REO property.

Search Bank Owned Homes in the Twin Cities

image source

Will Twin Cities Interest Rates Fall To 4.5%

With the current situation of the real estate market, the Treasury is in talks with Fannie Mae, Freddie Mac and the Federal Housing Administration but it may not be enough. This would apply to 30 year fixed rate mortgages and the government footing the bill yet again.

Don’t get to ahead with this though. Mortgage rates are set by the free market, always have been. This would be some sort of artificially stimulating home prices, aren’t we just working are way through this now? For the Treasury to try and influence this is beyond me and it will be interesting to see more on this when it becomes available. The way interest rates are lowered is when mortgage backed securities are being purchased and that is just not happening because of supply and demand.

Just hold on, if this in fact happens the only ones that this would affect would be new home buyers interested in buying a home. It will not help out distressed home owners that are currently behind on their mortgage or facing foreclosure. This will also not apply to refinancing on a current mortgage, only new purchases.

Will this just be a band aid

This is another way that the government is trying to stabilize the market but will it hold? Last week they announced the purchase of $600 Billion in mortgage related obligations that sent rates plummeting and refinances skyrocketed. Talking to local loan officers, they have yet to see the influx with new purchases but rather just a rise in refinancing applications.

I tell everybody this, do not plan to purchase if you are looking for a quick flip. People are going to have to wait 5-7 years just to break even on selling a home. Buying a home is not a short term commodity. Buy a home for a place to live and to raise a family.

image source

Single Family Homes, Condos and Townhomes in Eagan

• New Listings in October | 105
• Active Single Family Homes for Sale | 204
• Active Townhouse-Condo Units for Sale | 232
• Homes Sold in October | 55
• Average Sale Price | $212,263
• Average Days on Market | 124
• Percent of Sale Price/List Price | 92.4%

Comparison in Eagan real estate over the year

Last year at this time in October, there were 60 sold homes compared to 55 this year. Year to date their has been a total of 1335 new listings, compared to 1603 last year, down 16.7%. Average days on market is up 24.2% to a total of 135 days on market.

Search for All Homes For Sale in Eagan

image source

Single Family Homes, Townhomes, Condos in Apple Valley

• Active Single Family Homes for Sale | 223
• Active Townhouse-Condo Units for Sale | 247
• Homes Sold in October | 51Homes Sold
• Average Sale Price | $205,387
• Average Days on Market | 134
• Average Sale Price/List Price | 92.0%

Comparison in Apple Valley real estate over the year

New listings are down for the month of October in Apple Valley compared to October 2007 by 17.1%. Sales stayed relatively consistent with 56 last year compared to 51 this year at the same time. Year to date, the days on market are right around 140, that is cumulative days on market which sometimes doesn’t paint the best picture, but the right one.

Search all Homes for Sale in Apple Valley

image source

• Active Homes for Sale | (48 New Listings)
• Homes Sold in October | 23 Sold
• Average Sale Price | $266,774
• Average Days on Market | 162
• Average Sale Price/List Price | 93.7%

Comparison over the year

The average sale price for the year in Rosemount $243,571 which is a decrease of 12.9% year over year. There has been a total of 656 new listings this year and a total of 308 homes closed. At the same time last year in Rosemount, there were 333 homes that had sold, a 7.5% increase compared to this year.

Search All Homes For Sale In Rosemount

image source

Ask Questions and Get Answers

Not just from us, but from others that are interested in the what is happening in the Twin Cities real estate market. What exactly is happening? Will the market continue to decline? Is there opportunities for buyers out there? What are sellers doing that might be successful? Will foreclosures ever slow down?

Knowing the local real estate market is key in your success when it comes to buying or selling. Ask any question that you want to get involved and help others.  The forum also has a variety of resources from different areas as well.

Start Asking>>>

How to search for New Construction Homes in the Twin Cities

The process is simple and it’s easier than you think. Start with your search here, then scroll over to the year built and click. Next change the fields of min/max to the current year and you are done! You can also search by subdivision or community by typing in the name of the new development in the upper left hand corner of the detail search.

We understand that all you are really after is getting your home sold in the shortest amount of time for the most amount of money. Selling your home can be a stressful time and choosing the best company that fits you is important.

Check out the Elevation diffference

Get in touch

Contacting us is really easy

• You can get in touch with us via our online form
• Send us an email info@elevationrealtygroup.com
• Call Jason @ 651.503.7132 or Corey @ 651.249.9864

If it’s financing you need, we can get you pointed in the right direction. You won’t find any hard push to use so and so. Use who is comfortable for you. We do have a list of professionals that know their stuff to help you out. Ask questions because there are plenty of programs out there that are still available.

Get your home buying process off on the right foot. Read More>>>

image source

Welcome to Twin Cities Home Search were you can search for homes in Minneapolis, St. Paul and surrounding communities.

Before we cut you lose to search, there are a few things that you can do as you search that I thought we would point out. The home search is a blazing fast map based property search, where you can also search by details.

• Search only Foreclosures / Bank Owned Homes / REO properties
• Search only Short Sales or Pre-Foreclosures
• Save your search for later
• Add properties to your favorites
• Subscribe to new listings via email or RSS
• Get email or RSS updates on property or MLS changes
• Search for homes based on a percentage price change over a period of days
• Add personal notes to properties
• Search for homes based on school district
• Search for homes based on Days On Market

Some of features require registration, but only for saving searches (it does have it’s benefits) We understand that you are probably in the information gathering phase of looking for a home. When the time is right, we know that you will reach out for help.

We RESPECT your privacy and will never sell or provide your information to a third party. We hate spam too!

Search For Homes >>>