In the last 12 months I've had a few situations where my client's offer on a foreclosure was rejected in favor of a cash offer. In my office, I know of many others that have experienced the same thing. With the data provided by RMLS that I used yesterday to comment about FHA transactions, I am also able to dig down deeper and look at the detail at the MLS-area level. In Minneapolis-North, median sales prices have fallen from around $150,000 in 2006 to around $50,000 today - due almost entirely to the fact … [Read more...]
