Monday, March 12, 2012

March 12th 2012


March 12th, 2012 ·

Rochester Minnesota area home sellers are seeing the attractions of the spring market as even more homes were listed for sale last week (March 2 to 8, 2012) than the previous week. There were 83 new residential listings in Rochester.
There were just 11 closing last week. The average sold price for these homes was $207,681 — 97.3% of the asking price and just 89.2% of the original list price. These homes averaged 284 days on the market.
There are currently 747 active residential listings in Rochester, Minnesota - average 148 days on the market.

FORECLOSURES


March 12th, 2012 ·

Foreclosures in Minnesota, 2011 Report
There were 21,298 homes sold at Sheriff’s Sale in 2011 in Minnesota, the fewest since 2007. However, it also reflects the fact that the foreclosure crisis is not over yet, as it means that over 1% of EVERY HOME in Minnesota was lost to foreclosure last year.
It also brings the cumulative total of foreclosures in Minnesota since we began tracking these numbers in 2005 to over 135,000.
The comprehensive report, titled “Foreclosures in Minnesota”, analyzes sheriff’s sale data, the primary means of identifying foreclosures, from each of Minnesota’s 87 Counties. Minnesota is unique among other states in the availability of current, comprehensive foreclosure sale data.
To view a copy of the full report, go to: http://hocmn.org/en/2011ForeclosuresInMinnesota.cfm
In addition to the 21,298 homes that were sold in a foreclosure sale, more than 54,500 households continued to struggle with mortgage payments and received a pre-foreclosure notice from their lender during the year. (For more information about pre-foreclosure notices, visit the Center’s blog, here).
The Minnesota Homeownership Center, Greater Minnesota Housing Fund, Minnesota Housing and Family Housing Fund published the report, with research provided by HousingLink.
As always, struggling homeowners are encouraged to seek the help of a certified foreclosure prevention specialist that is a member of the Homeownership Advisors Network, as soon as possible. Waiting limits a homeowner’s options. To find a free local foreclosure specialist, homeowners can visit www.hocmn.org or call the Minnesota Homeownership Center at 866-462-6466.

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