St. Cloud, MN - Real Estate Blog

In looking back over the 1st quarter statistics for real estate sales in the St Cloud area, it appears that bank owned homes are still playing a big factor in the market.  There were 72 foreclosures, or REO's, sold in the first three months of 2010.  That accounts for roughly 35% of all sales that were recorded.  Here is another interesting statistic revolving around the average prices for these sales:  REO's sold at an average price of $115,354 while the Non-REO's sold at an average price of $160,576.

Statistics were pulled from Regional Multiple Listing Service and cover the zip codes for St Cloud, Sartell, Sauk Rapids, Waite Park, and St Joseph for residential sales between 1/1/2010 and 3/31/2010.  Bank owned properties are separated and marked as "Yes" to the lender owned category on the MLS while remainder of the market is market as "No" or "Not Disclosed" on the MLS.

Jason Tangen - GRI, e-PRO - Real Estate Broker Associate with Edina Realty in St Cloud MN

http://StCloudEdina.com - Get list of bank owned properties in St Cloud, MN area.

http://JasonTangen.EdinaRealty.com - Get specific city information for St Cloud, MN

Best on the Internet for Real Estate St Cloud MN.

Posted by Jason Tangen at 01:55 PM | Permalink | Comments (0)

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Good article on foreclosures in the local area and some input by a great looking real estate professional

http://www.sctimes.com/article/20100210/NEWS01/102100011/Stearns-Benton-foreclosures-decline-in-2009

Jason Tangen - Real Estate Broker Associate with Edina Realty in St Cloud, MN

http://StCloudEdina.com - Get a list of all the bank owned properties listed within 30 miles of St Cloud MN.

Best on the Internet for Real Estate St Cloud, MN

Posted by Jason Tangen at 09:00 AM | Permalink | Comments (0)

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I pulled some numbers recently and was pleasantly surprised with the amount of foreclosures that were sold in the 4th quarter in St Cloud, Sauk Rapids, Sartell, and Waite Park Minnesota.  Here are some rough looks at the numbers.

Units Sold

60 Bank Owned vs. 209 Non Bank-Owned or Not Disclosed.

Average Price Roughly $105K for Bank Owned and Over $150 for Non-Bank Owned or Not Disclosed.

Those are pretty good stats for those of you who are thinking about selling your home in the near future.  While the number of foreclosed units continues to rise, traditional sales are by far out doing the banks sales.

Want the specific stats?  Give me a call or e-mail and I would be glad to provide them for you.

Jason Tangen - GRI, e-PRO - Broker Associate from Jason Tangen at Edina Realty.

http://StCloudEdina.com - Get a free e-Market Analysis (online home valuation).

http://JasonTangen.EdinaRealty.com - Search homes for sale in Central MN.

Best on The Internet for Realt Estate in St Cloud, MN

Posted by Jason Tangen at 10:30 AM | Permalink | Comments (0)

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The total number of active and pending foreclosed properties that are available on the St Cloud MLS has declined from a high of 450 early this spring to just under 350 the other day.  That is a very encouraging statistic if that trend continues. 

The worry is that the banks are holding back on putting a large number of foreclosed properties on the market in an effort to stabilize prices and allow them to recoup more money when they do decide to put them up for sale.  With these being such crazy times, it is tough to say how good or bad something is going to be without all the information.  Not knowing exactly how many potential properties are being withheld from the market by the banks creates a huge variable in any current real estate statistic.

Jason Tangen - GRI, e-PRO - Real Estate Broker Associate with Edina Realty in St Cloud MN

http://StCloudEdina.com - Home of the e-Market Analysis (Free on-line home value estimator)

http://JasonTangen.EdinaRealty.com - Search homes for sale in St Cloud MN

Best on the Internet for Real Estate St Cloud MN

Posted by Jason Tangen at 08:21 AM | Permalink | Comments (0)

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I pulled together a stat today for an investment group that was just crazy.

Here's the set-up: Single family homes sold between 1/1 and 3/23 in St Joseph, Sauk Rapids, Sartell, Waite Park, and St Cloud.

Here's the numbers:

30% of all homes sold in 2008 during this time frame were bank owned.

59% of all homes sold in 2009 during this time frame were bank owned! 

A seller asked me some time ago - "Where have all the buyer's gone?"  The better question might likely be "What are buyers looking for in a home?"

It looks like by these numbers that the answer is price.

Jason Tangen - GRI, e-PRO - Real Estate Broker Associate with Edina Realty in St Cloud.

http://StCloudEdina.com - Get a free list of the bank owned properties on the St Cloud MLS.

http://JasonTangen.EdinaRealty.com - Search homes for sale in Waite Park, MN.

Best on the Internet for Real Estate St Cloud MN

Posted by Jason Tangen at 08:25 PM | Permalink | Comments (0)

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I have a plea that I would like to put out to all first time home buyers who are real excited about getting a ton of money by buying and fixing up a foreclosed property.  Before you decide to make that purchase, look real hard at your situation and the whole picture involved in buying distressed properties.

First thought - If you don't have the money for closing costs and down payment, then you obviously will not have the money to do repairs.

Second thought - I know that everyone in your family is a licensed contractor (listen to the sarcasm there), but do they have a lot of free time that they want to devote to you.

Third thought - How much spare time do you have in your day to tinker around on a house?  If you work 10 hrs a day, while it might be fun at first, when the novelty wears off you aren't going to want to tinker with Sheetrock at the end of a long day.

I bring these thoughts up because I have seen way too many people (mainly first time home buyers) go out and buy a foreclosure with some grand plans for repair.  Only to find out that they lack both the time and the money to actually repair anything in the home.  Don't get me wrong, sometimes buying a bank owned home is exactly what a person should do.  But there are other times when a person might be better served looking at some smaller, better maintained homes to start with.  Remember, as a first time home buyer you are looking to buy a "starter" home.  Make sure you are getting off to a good start.

Jason Tangen - GRI, e-PRO - Real Estate Broker Associate with Edina Realty in St Cloud MN

http://StCloudEdina.com - Get a free list of the bank owned properties listed on the St Cloud MLS.

http://JasonTangen.EdinaRealty.com - Home of the e-Market Analysis on-line home value estimator.

Best on the Internet for Real Estate St Cloud MN

Posted by Jason Tangen at 06:36 AM | Permalink | Comments (0)

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I was pulling some statistics yesterday, and was really intrigued at how similar some of the Sold-to-List ratios were in both bank owned properties and the homes that people are trying to sell (not bank owned).  For easy reference, we will call them foreclosures and non-foreclosures.

Here is what I found*:

Foreclosures:

   Days on Market:  75

   Sold Price/List Price:  95.8%

   Sold Price/Original List Price:  85.6%

Non-Foreclosures:

   Days on Market:  143

   Sold Price/List Price:  95.4%

   Sold Price/Original List Price:  88.2%

What can I conclude from this data?  I can conclude that both foreclosed and non-foreclosed property owners are on average "wheeling and dealing" about 5% from their current MLS list prices.  It would seem that the banks are doing a much better job of dropping their prices more quickly to get their homes sold twice as fast.

If you are thinking about quoting any of these statistics for any work, please give me a call at (320) 492-2667 first.  While I am able to pull stats for just about everything from the St Cloud MLS, it is in fact the property of the St Cloud Association of REALTORS.  I just want to verify that the St Cloud Area Association of REALTORS knows how and where their information is being presented.  Thank you.

*Statistics from information obtained on the St Cloud MLS on March 10th, 2009.  This information is pertaining to the residential properties listed on the St Cloud MLS that have sold from the time frame of Jan. 1st, 2009 - Mar. 10th, 2009.

Jason Tangen - GRI, e-PRO - Real Estate Broker Associate with Edina Realty in St Cloud MN

http://StCloudEdina.com - Get a free list of the bank owned properties on the St Cloud MLS

http://JasonTangen.EdinaRealty.com - Search homes for sale in St Cloud MN

Posted by Jason Tangen at 06:39 AM | Permalink | Comments (0)

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I get phone calls and e-mails every now and again for people looking for high end homes and lakeshore properties that are bank owned.  Unfortunately, I have to tell them these high end homes are much less likely to be available in the foreclosure market.  Most (but not all) owners in these higher price points had enough equity to weather the storm through this correction in the real estate market.  It seems they were even better off if they bought lakefront property.  For example, there were 13 bank owned properties sold last year on the St Cloud MLS that were located on a lake.  That accounted for just over 1% of the total number of foreclosed properties that we sold in 2008 through the St Cloud MLS.

So where are the great deals?  What price range?  I think the statistics for the 4th quarter 2008 show pretty well that the screaming deals we are seeing are more prominent in the first time home buyers bracket:

1) Bank owned homes made up 59% of all sales on the St Cloud MLS under $150,000.

2) Bank owned homes made up 19% of all sales on the St Cloud MLS over $150,000.

3) Bank owned homes made up 42% of all sales on the St Cloud MLS regardless of price.

*All data pulled from the previous total residential units sold on the St Cloud MLS as of 01/30/2009

Jason Tangen - GRI, e-PRO - Real Estate Broker Associate with Edina Realty in St Cloud MN.

http://jasontangen.edinarealty.com - Try the e-Market Analysis free home value estimator.

http://StCloudEdina.com - Get a free list of all the bank owned homes located on the St Cloud MLS.

Posted by Jason Tangen at 08:11 AM | Permalink | Comments (0)

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Whew.  I noticed late tonight that the total number of active and pending foreclosed properties on the St Cloud MLS.  That is a huge increase from roughly 200 that we had at the start of 2008.

This surplus of foreclosed properties is making for some phenomenal buys!  For example:  I had one buyer just pick up a 6 BR, 4 BA two story home in Sartell's "The Wilds" development for just over $180K.  Crazy.

So go ahead and take a look.  With interest rates floating around the 5.5% range, this might be the perfect time to buy.  I can't guarantee that we are at the bottom yet, but I do know that this influx of foreclosed properties should stabilize and start to deteriorate as the year progresses.  Therefore, the last of the great flood of bank owned properties should be hitting us this year.

Happy house hunting.

Jason Tangen - GRI, e-PRO - Real Estate Broker Associate with Edina Realty in St Cloud.

http://StCloudEdina.com - Get a free list of the foreclosed properties listed on the St Cloud MLS.

http://JasonTangen.EdinaRealty.com - Try the e-Market Analysis free home value estimator.

Posted by Jason Tangen at 10:32 PM | Permalink | Comments (0)

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I was asked to see what percentage of first time home buyers are purchasing bank owned homes with the recent flood of foreclosures on the market.  I was unsure at first, as first time home buyers can come in any price point.  But I did pull together this little statistic in regards to foreclosed properties on the St Cloud MLS:

50.4% of all homes sold on the St Cloud MLS under $150,000 were bank owned (Data from St Cloud MLS for the time period of 01/01/2008-10/13/2008).

That means for all of you in Central Minnesota that are trying to sell your home within this price range, over 1/2 of your potential buyers are buying a foreclosed home instead.

In contrast, only 19.0% of all homes sold on the St Cloud MLS over $150,000 were bank owned.

That means if you are looking to purchase a home in the $150,000+ price range, you might be doing yourself a disservice by looking at only foreclosed homes.

Jason Tangen - GRI, e-PRO - Real Estate Broker Associate with Edina Realty in St Cloud

http://StCloudEdina.com - Search Real Estate in Sartell Minnesota and surrounding areas.

http://JasonTangen.EdinaRealty.com - Find Open Houses in Sauk Rapids MN and surrounding areas.

Posted by Jason Tangen at 07:43 PM | Permalink | Comments (0)

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I've noticed a slight increase in the number of active and foreclosed properties that are available on the St Cloud MLS.  For the majority of the year, we have had approximately 330 foreclosed listings that are either active to purchase or are pending a sale.  We now have just over 370 such listings on the St Cloud MLS.

Obviously this creates some problems.  We need to continue to buy out the foreclosed properties at a pace that keeps up with the rate at which they are becoming available.

Now we get to see what our fearless leaders in Congress have actually accomplished with their new bailout bill.

Jason Tangen - GRI, e-Pro - Real Estate Broker Associate

Edina Realty in St Cloud MN

mailto:jason@stcloudedina.com

Posted by Jason Tangen at 08:41 PM | Permalink | Comments (0)

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I have discovered a new and interesting way to send the foreclosed listings available on the St Cloud MLS to my clients.  I have always been able to e-mail them to anyone on a daily basis, but it was difficult to keep sending a master list of all of the properties available at any given time.

Enter the new real estate portal.

Now any of my clients who have signed up to receive the foreclosed properties listed for sale on the St Cloud MLS can also get a specific website that will maintain all of the properties just for them.  It also sets up driving tour directions, allows people to save their favorite foreclosed properties, and it also allows them to see when the foreclosed property they like is having an open house.

While I haven't worked out all the bugs on these new MLS portals yet, I am certain that the majority of people will enjoy their ease of use and information.

Want to know more?  Give me a call at (320) 492-2667 or email me at jason@stcloudedina.com.

Jason Tangen - GRI, e-Pro - Real Estate Broker Associate with Edina Realty in St Cloud

http://JasonTangen.EdinaRealty.com - Search open houses in Minnesota

www.StCloudEdina.com/blog - REAL ANSWERS to REAL ESTATE in St Cloud MN

Posted by Jason Tangen at 07:24 AM | Permalink | Comments (0)

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As we went through the spring market and into the early summer months, we have had enough sales to cover the amount of foreclosed properties that were coming onto the St Cloud MLS.  We have averaged 325 active and pending foreclosures on the St Cloud MLS since January of this year.  Yesterday, when I pulled the foreclosure search for a potential client, I noticed that the total had crept up to 350+.

This excess of foreclosed properties is not a good thing for our market.  I think the best thing that could happen is that we sell them off at a fairly quick rate.  I know that it isn't great news for people who are trying to sell their homes, but we need to get the vacant properties moved so that our home builders can start on new properties in the future.  We have a lot of people sitting idle in Central MN just waiting for this housing lull to pass so that they can resume work.

If you are on the fence about buying a property, I highly suggest talking to a real estate professional about what is going on with the market. 

1)  I can think of several great potential purchases for a new homeowner that would probably net somewhere between $30-100K in equity to their future owner. 

2)The interest rates are rising slowly and if inflation keeps moving upward with the gas prices, home loan rates will follow suit and go even higher.  

3)Lastly, if you do not have the money set aside to make a home purchase, your chance to get a home with 0% down could be gone by the end of the summer.  The last (non-VA or rural development) 0% down home purchase program is under great scrutiny from both the President and the department of Housing and Urban Development (HUD). 

Those are three reasons that now may be the best time to purchase for quite some time.  Talk to your professional and I'm sure they will give you several more reasons.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud MN

www.StCloudEdina.com - Get a free list of foreclosed properties in Central Minnesota

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

Posted by Jason Tangen at 06:33 AM | Permalink | Comments (0)

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I was just talking with another one of the real estate agents in the office who is selling a lot of foreclosures in the St Cloud area and one topic became glaringly clear to us.  A lot of people who are purchasing foreclosed properties are not fully anticipating how much it will cost to repair the home.

While not all foreclosed properties in the St Cloud area are completely trashed, most are.  Especially when you look in the <$100,000 market.  These homes generally need much more than just paint and carpet (and paint and carpet can sometimes run $5000 on their own).

With this in mind, if you have been pre-approved for a loan to purchase a home that needs some work, take the time to accurately calculate the true cost to make living there comfortable.  Get bids from contractors if necessary to give you a better picture of all of the expenses involved.  Does the home need carpet? paint? doors & windows?  Do you have some liquid cash to fix potential problems?  The answers to these questions will really dictate the answer to your buying decision.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud, MN

http://jasontangen.edinarealty.com - Search for open houses in St Joseph, MN

Posted by Jason Tangen at 05:21 PM | Permalink | Comments (0)

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With the way that the laws are currently written for real estate, I propose this thought for people to digest.

The only person who is truly hurt by a foreclosed property is the neighbor.

I don't want to sound mean or insensitive to the home owner who has just been thrown out of their homestead, but I don't think they have it the worst.  With the current laws, the only damage to a person who has had a foreclosure in their past is a lower FICO score (credit score that can be cured in a very short period of time) and a little bit of public embarrassment.  That's it.

As for the bank's losses, they have insurance to cover them to a certain extent in most foreclosure situations.  Oops, I just found another person affected by foreclosures.  The insurance companies that cover the bank's losses.

What we are left with is the neighbors who are faced with a depressed home in their neighborhood bringing down the local values.  Most of these homes are stripped of anything of value (appliances, A/C, sometimes plumbing fixtures, lights, etc.) and left in a condition that only a mother could love.  I've walked into properties that are available because of foreclosure and been amazed at how filthy a home can become in just a year or so.  Brand new homes that appear to have 30 years worth of wear and tear.

Something to think about, what are your thoughts on this topic?

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty St Cloud

www.StCloudEdina.com - Home of the e-Market Analysis (Free Home Value Estimator)

Posted by Jason Tangen at 01:12 PM | Permalink | Comments (0)

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I have done a little research into the "foreclosure websites" that are offering foreclosed properties for sale around the St Cloud MN area.  I have discovered that most of the national websites are willing to let people receive the address and pictures of a home for a "nominal" fee.  The prices ranged from $9.95/week, $38.90/month, and $99/year for the top 10 foreclosure websites.

If you would like to pay one of these companies for the information they provide, that is up to you.  But I can say that I offer the exact same listings + automated e-mails of new foreclosed property listings and price changes to existing foreclosure listings free of charge.  Visit my sign up page for foreclosed properties on the St Cloud MLS for more information.

If you have discovered some other websites that are willing to give free information about foreclosed properties in Central Minnesota, please post them here for everyone to utilize.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty St Cloud

www.StCloudEdina.com - Search Homes For Sale on the St Cloud MLS

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

Posted by Jason Tangen at 10:10 AM | Permalink | Comments (0)

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Are you looking for where you can find newer construction and new construction homes around St Cloud MN that are in foreclosure?  Below is a list of some of the local developments that have the most current foreclosed properties and more yet to come:

Foley: Lange Estates

Rice: Field of Dreams

Rice: Fox Meadows

Sartell: Tiffany Meadows (Patio Homes)

Sartell: Madison Crossing

St Cloud (St Augusta): Emerald Ponds

St Cloud: The Fairways

St Cloud: Waters Edge Donovan Lake

St Joseph: Liberty Pointe

St Joseph: Graceview Estates

Post your questions and concerns here in regards to homes that are available to purchase in these developments or ones that have recently sold.

Happy New Year,

Jason Tangen - Real Estate Broker Associate with Edina Realty of St Cloud

www.StCloudEdina.com/Foreclosures.html - Get a list of the current foreclosed properties on the St Cloud MLS

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

Posted by Jason Tangen at 10:36 AM | Permalink | Comments (2)

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The most recent search of foreclosed properties both active and pending sale on the St Cloud MLS resulted in over 310 such properties.  This is not the greatest of news for people who are thinking of listing their homes for sale in the new year.  As a home seller, your competition was almost always other home sellers.  Now, with the amount of foreclosed properties and their varying conditions, a home sellers biggest challenge is to take a buyer away from the bank.

I have sold 3 of these foreclosed properties recently.  While it is great for the buyer (they are undoubtedly getting great deals), it doesn't keep the chain going for traditional sellers.  In a normal real estate transaction chain, a first time home buyer purchases a home from a seller who in turn purchases a bigger home from a seller, etc.  With this new foreclosure inventory, more first time home buyers are opting to purchase a foreclosure and immediately stop the sales chain.

Advice in 2008 for sellers and buyers:

For Sellers:  If you need to sell, by all means sell.  Be sure to have your real estate agent do their homework to ensure that you can compete with today's market conditions.  Forget your assessed value and what your last refinance appraisal amounts were and really listen to what your real estate professional is telling you.  The data they compile from the St Cloud MLS could be the difference in selling your home and staying in your home.  It is now much more important than recent years to have a truly accurate competitive market analysis done on your home to reflect what the market is willing to pay.

For Buyers:  Buy!  It's as simple as that.  Get set up on an automated search by your real estate professional that will send you homes that are of interest to you immediately.  Some of the great deals that I am seeing on the St Cloud MLS are only hanging around for a week or so.  If you are thinking about purchasing, get pre-approved and wait for the right home to come along.  Rates are still very favorable and the deals are better than I have seen in the last 4+ years.  Lastly, don't be afraid to jump.  I have had several buyers recently who are kicking themselves for not taking action on the house they wanted.  If you know a home is a great deal and you love it - buy it.

Jason Tangen - Real Estate Broker Associate with Edina Realty of St Cloud

www.StCloudEdina.com - Home of the e-Market Analysis (Free Home Value Estimator)

jasontangen.edinarealty.com - Search the St Cloud MLS

Posted by Jason Tangen at 07:59 AM | Permalink | Comments (0)

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I was a little surprised when someone requested the foreclosed properties on the St Cloud MLS today.  Not surprised because they wanted to see the foreclosed properties, surprised because I was sending them 213 homes that are some sort of bank foreclosure or short sale.  If you want more information about foreclosed listings in the immediate St Cloud or Minnesota area, view some of my other posts pertaining to this subject.  If you would personally like to see a list of the foreclosed properties on the St Cloud MLS, visit http://www.StCloudEdina.com/Foreclosures.html.  For foreclosures listed on the Minneapolis MLS or other Minnesota MLS systems, please e-mail me at jason@stcloudedina.com.

Jason Tangen, GRI

www.StCloudEdina.com - Search Homes for Sale on the St Cloud MLS

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

Posted by Jason Tangen at 05:28 PM | Permalink | Comments (0)

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Minnesota ended up ranking 30th in the nation pertaining to the change in the number of foreclosed properties on the market in the 3rd quarter '07 vs. 3rd quarter '06.  This is definitely a statistic where it is better to be on the lower side of the averages.  Topping the list was Nevada (1 foreclosure filing for every 61 households), California (1 filing per 88 households), and Florida (1 filing per 95 households)*.

In Minnesota, we saw a 19.8% increase in the number properties that have filed for foreclosure in the 3rd quarter 2007 as compared 2nd quarter 2007.  That breaks down to 1 foreclosure filing for every 562 households.  These aren't great numbers, but they are definitely much better than some of the other areas where we have consistently been hearing about their horrid real estate markets.  Throughout the industry, we expect some foreclosures to happen for various reasons`1.  Bad things can happen to just about anyone putting them into foreclosure.  For the industry as a whole, we would like to see these numbers closer to 1 foreclosed filing for every 1500-2000 households.  Having these figures would mean that the banks are willing to take some risks in their lending practices, but not too much where it raises concern.

Thanks to some changes in the St Cloud MLS, I will soon be able to track these numbers locally to see how they compare to the national averages.  Currently there are 42 foreclosed properties in the St Cloud, Sartell, Sauk Rapids, and Waite Park area listed on the St Cloud MLS.  That accounts for just over 28% of the total number of foreclosed properties listed for sale on the St Cloud MLS.

If you'd like to get a FREE list of the more than 140 foreclosed properties listed on the St Cloud MLS, visit www.StCloudEdina.com/Foreclosures.html.

Jason Tangen, GRI - Real Estate Broker Associate

Edina Realty St Cloud

www.StCloudEdina.com

*Data obtained from RealtyTrac online

Posted by Jason Tangen at 09:40 AM | Permalink | Comments (0)

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Hello all bargain hunters out there.  Just a little note to remind you that the banks do not want to pay the heating bills all winter on a house that has been given back to them through the foreclosure process.  I fully expect this winter to see at least one great buy per week come onto the market and an additional two to three current foreclosures/week drop into a price range that you would probably like to know about.  Be sure to get signed up to receive the foreclosed properties that are listed for sale on the St. Cloud MLS by visiting www.stcloudedina.com/Foreclosures.html.  By signing up, you will receive daily notification of new foreclosures as they as available on the St. Cloud MLS.  You will also receive notice of foreclosed properties that have had a reduction in price on the St. Cloud MLS.  Best of all, it's FREE.

Jason Tangen

www.stcloudedina.com

www.stcloudedina.com/blog - REAL ANSWERS for REAL ESTATE in St. Cloud, MN

Posted by Jason Tangen at 03:31 PM | Permalink | Comments (0)

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I was truly amazed the other day when I was doing some searching for one of my clients and discovered that there was nearly 150 foreclosed properties or bank short sales available to purchase on the St. Cloud MLS.  If you have been considering making a purchase, it would definitely be in your best interest to review the local foreclosure market before deciding to purchase something.  You can obtain a free list of the foreclosed properties available on the St. Cloud, Minnesota MLS by visiting www.stcloudedina.com/Foreclosures.html.

On the other side of this issue, if you are having problems making payments on your current mortgage, or are expecting to have problems in the near future, please post your concerns and questions here for review.  Or you can always give me a call: Jason Tangen at (320) 492-2667.  I have dealt with several lending institutions for previous clients to get them into better situations when possible.  Whether it be a non-fixed mortgage, a hike in property taxes, or a loss in income, there are some things that might possibly help you out of a potentially harmful situation to your credit and self-esteem.  Two things you must remember immediately when facing foreclosure:  1) Contact your bank or lender early and often and 2) Make sure you are speaking with the correct person preferrably in the "Loss and Mitigation" Dept.  I look forward to any comments, questions, and or concerns regarding this topic that you might have.

Jason Tangen

www.stcloudedina.com

Posted by Jason Tangen at 01:50 PM | Permalink | Comments (0)

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