Laserfiche WebLink
FORECLOSURES AND SHORT SALES <br /> IN TH E TWI N CITIES HOUSING MARKET <br /> Q1 2009UP D AT E <br /> A SPECIAL RESEARCH REPORT FROM THE MINNEAPOLIS AREA ASSOCIATION OF REALTORS® <br /> Jeff Allen <br /> MAAR Research Manager <br /> www.mplsrealtor.com <br /> Aaron Dickinson <br /> REALTOR® <br /> www.twincitiesrealestateblog.com Published on April 16, 2009 <br /> MONTHLY LENDER-MEDIATED INVENTORY <br /> he inventory of available foreclosures and <br /> short sales (i.e., lender-mediated properties) <br /> in the Twin Cities housing market is on the <br /> decline. From February 1 to April i of 2009, the '°M <br /> number of lender-mediated properties for sale °.�• <br /> dropped by more than 1,200 units to 7,674. sm <br /> AOM <br /> Heavy sales activity brought about by plunging <br /> mortgage rates, a federal $8,000 tax credit for <br /> first-time home buyers and record affordability ',M° <br /> has combined with flattening new foreclosure M. <br /> activity to draw the inventory of foreclosures <br /> ,....° a.a e..n ..o• .u.of <br /> and short sales down dramatically. <br /> Foreclosures are properties in which the <br /> financial institution has repossessed the <br /> home from the owner due to nonpayment of TABLE OF CONTENTS <br /> mortgage obligations. Short sales are unique Inventory of Homes for Sale <br /> arrangements where the financial institution Median Sales Price <br /> and in-default homeowner work together New Listings and Closed Sales <br /> in an attempt to sell the home before it is Explanation of Methodology <br /> foreclosed upon. <br /> Want to see how foreclosures and short sales <br /> are affecting various neighborhoods and cities <br /> within the Twin Cities metro area? Click here <br /> to access an interactive data board and in- <br /> depth neighborhood reports and commentary. MINNEAPOLIS AREA Association <br /> os REALTORS* <br /> www.mplsrealtor.com <br />