Most of my buyers are NOT housing experts... they are "regular people" and are experts in whatever field they work in but not in real estate. That's just fine because that's why people like me have jobs doing what we do! One of the most frequent topics that comes up is the differences between traditional sellers, short sales and bank owned (aka foreclosure or REO) homes. Below you will find a summary of many of the big differences, which is also available in a PDF one-page format if you'd like to print … [Read more...]
Inventory of Foreclosures & Short Sales in Twin Cities Dropping Fast
Today MAAR released the quarterly update to their report: "Foreclosures and Short Sales in the Twin Cities Housing Market," which was co-developed and authored by Jeff Allen from MAAR and myself. Today's headline number is that while foreclosures and short sales (what we call lender mediated sales) are still a large part of our new listings and our inventory, they are an even larger part of our sales, which means that the for sale inventory of these lender mediated listings is dropping dramatically. In fact, … [Read more...]