Tag Archive | "Foreclosures"

We need more of this.

With help from a federal program called the Neighborhood Stabilization Program, around 591 Minneapolis homes are being targeted for rehab and future development (68%), demolition (19%), and the remainder offered to potential buyers with financial incentives (13%).

These are the types of pro-active measures I like to see. The homes are in some of the worst affected by foreclosures and this can provide powerful incentives, not only for buyers to get back in the market, but also in areas that have been hit the hardest. The only way these areas of the city have a chance to rebound is to get people in who will continue to work and take pride in their neighborhoods.

The city is planning a tour (along with LiveMSP) to show 41 of these homes. I hope they have a huge turnout and are encourage more of these policies, here and across the country.

Maps of the homes and route can be found here.

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After an entire month of investigating whether or not there were any abuses in the mortgage industry prior to the financial crises – the Federal Reserve found absolutely No wrongful foreclosures! Well I feel better now. The Fed said no abusive mortgage practices took place – so that should stop all those liberal whiners, eh?

No wrongful foreclosures

No wonder our elected (and unelected) officials have so little credibility.

Posted in Foreclosure related, News, politics, Real EstateComments Off on LOL!!

Minnesota finishes out 3rd Q in 25th place for foreclosures.

According to a report sited in the Minneapolis St Paul Business Journal, Minnesota finished the 3rd quarter in 25th place for foreclosures.

The figures they sited saw 9499 homes receiving foreclosure notices in that time frame. That comes out to one out of 245 homes. That is an increase from the previous quarter of about 5 1/2%.

But I guess if you are searching for some kind of good news to take away from the numbers – you can look at the 3rd quarter figures for ’09 – which were a little more than 10 1/2% higher.

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Twin Cities Q1 foreclosures up 22 percent

Twin Cities foreclosures increased by about 22 percent in the first three months of 2010 from the same period one year ago, according to a new industry report out Thursday.

The 8,305 Minnesota and Wisconsin properties with first-quarter foreclosure filings in the Minneapolis-St. Paul region is a 2 percent improvement over the final quarter of 2009, according to the Q1 2010 Metropolitan Foreclosure Report by Irvine, Calif.-based RealtyTrac Inc.

The Twin Cities region’s foreclosure rate ranked 80th highest on a list of 206 United States metropolitan areas with populations more than 200,000.

California, Florida, Nevada and Arizona cities dominated the top of the list.

The report says one in every 162 housing unit properties in the Minneapolis-St. Paul area, or 0.62 percent, has at least one foreclosure filing entered into RealtyTrac’s database.

Nationally, 932,234 properties met that criteria in the first quarter, the report said. That’s one in every 138 housing units, or 0.72 percent.

Of the 10 cities with the worst foreclosure rates, eight showed improvement in the first quarter compared to the same time last year.

Read the entire article about the Twin Cities foreclosures.

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Minnesota Foreclosures

Minnesota Foreclosures

There is a growing opportunity in foreclosed homes in MN and repossessions, including Hennepin County property. Obviously the number of foreclosed homes in MN has been a major problem and the trend is expected to continue for some time. Depending on your circumstances, this fact can result in overwhelming hardship or – it can be the opportunity of a lifetime.

Even though we all experience compassion for those going through difficult times it is also true that economic downturns also create some amazing opportunities for those who put themselves in the right place at the right time – sometimes in a huge way. We can take advantage of the financial opportunities out there (it would be irresponsible not to), and still have compassion and be pro-active in helping members of our community who need it.

For now it is worth pointing out that the number of foreclosed homes in MN and Hennepin County property in particular are quite substantial and this will most certainly result in some buyers picking up some real steals.

If you are contemplating a property purchase in the future, in addition to searching the mls online mn listings, I suggest you also at least look here into foreclosed homes in MN. There are la few services and websites which promise to provide access to this information but unfortunately most promise a great deal and deliver much less and are generally quite expensive. That is why a little research beforehand in this regard can save you a lot of aggravation, time and money. By all means have a look at what is out there, but I am quite confident you will end up here.

Depending on your timing you may be shocked at what you can get and where. It is not just “bad” neighborhoods which are suffering the rash of foreclosures in Minnesota (as well as throughout the country) but every price range of home is being affected. And with the huge inventory of foreclosed homes in MN banks are finding themselves holding, opportunities arise where some of this inventory is being cleared at bargain basement prices.

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Minnesota repo cars for sale

Minnesota repo cars for sale

If you are even considering buying a car in the next year, you owe it to yourself to look at Minnesota repo cars for sale. The site I highlighted in the previous article still offers the most complete over all information obtainable for all types of repossessed property. From House foreclosures to electronic scanners and everything in between. But if you are just looking for a car (or truck), then here is another great website which specializes in cars, trucks and SUV’s.

At times these go for up to up to 95% off of Book value. Offering immediate access to more than 4000 updated auctions across the country, this membership is a hugely valuable resource for anyone who is planning on buying a car or truck in the future. You may have to observe the listings for awhile until you run across exactly what you are waiting for, but it could save you LOTS. A one time participation fee gains you  access to a wealth of information, much of it not searchable elsewhere on the internet.

Just as in my favorite all-round sale site which I have already told you about, the vehicles offered for sale on this site come from a variety of sources. The usual sources – drug raids, bank & lender repossessions as well as government surplus vehicles which routinely get rotated out for newer models. Sometime after only a couple of years. Many with full service histories. Some really exceptional vehicles very very cheap if you hit it right.

They do offer some information on other types of auctions:

government surplus property
personal repossessed property
boats and watercraft property
but their main virtue (in my humble opinion) is in vehicles. Not only Minnesota repo cars for sale, but actually info from all across the country. So it may very well be worth it to drive to a surrounding state if you see something really special.

If you are searching for anything other than vehicles, I would still recommend the site showcased in the previous article (Hennepin County property).

But for cars and trucks this is it!!

They did recently have a special price on memberships at right around 40 bucks. If not it should be around fifty which, if you plan to buy a car in the next year, will be the best money you ever spent.

To add the “no-brainer” factor to it, they have a 30 day money back guarantee.


(Although I believe in the services I recommend, it is important that you know – if you purchase any products from the link above, I will make a commission.  Although I would prefer to use it as beer money, I am afraid it will have to go toward maintaining this site and continually updating the information and recommendations therein).

Any comments or suggestions, please send to me at: info@minnesotarepossessions.com

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MN auction inventories

What are you looking for?

We can probably point you in the right direction.
MN used trucks and cars