No matter what happens with the economy, interest rates and house prices, the next few years we will continue to see both foreclosures and short sales. From an owner's perspective, a short sale will often do less damage to their credit than a foreclosure - though in many cases the damage can be almost equal. There is a lot of work that goes into a short sale and lots to watch out for. If you or someone you know is considering your options, my coworkers and I can help explain the process, direct you to … [Read more...]
Aaron Dickinson and MAAR Publish Report on Foreclosures and Short Sales on Twin Cities MLS
May 6, 2008 by 1 Comment
You can find the report here. Background In late October I wrote a blog post regarding foreclosures and short sales listed on the MLS in the Twin Cities. Once I started researching this topic, I found that the information I was uncovering was previously unknown in our market and that the trends it offered were very insightful. I shared this first-step research with Jeff Allen from MAAR and we decided to work together to explore it further. The hardest part of this whole research project was developing the … [Read more...]
Looking for Foreclosures or Short Sales – Come to Me!
March 9, 2008 by Leave a Comment
If you are an unrepresented buyer looking for foreclosures or short sales in the Twin Cities Metro, you should contact me to get set up for a custom MLS search for properties marked as foreclosures or short sales. Through hours of research and trial and error, I have found a list of terms that REALTORS commonly use to note properties that are bank owned or subject to bank approval. This list of terms is likely the most comprehensive and best tested list in the region. If you are not currently under contract … [Read more...]
Foreclosures & Shorts Sales Should Be Classified As Such on MLS
February 28, 2008 by 3 Comments
There's a lively discussion going on in our office regarding foreclosures and short sales and their impact in this market. I was going to call it a debate but typically a debate has two opposing viewpoints whereas of the people I've spoken to, we all seem to be in agreement: the MLS should add a flag for foreclosures and short sales. Right now most agents do disclose if their listing is a foreclosure or short sale by saying something in either the Agent Remarks, Public Remarks, or Financial Remarks. The … [Read more...]
