The Skinny Blog

Shortsales

As many have noted, one of the biggest changes to the Twin Cities and national housing markets was the sudden influx and subsequent absorption of distressed properties.  “Distressed” simply refers to any new listing, active listing or closed sale where the lender either owns the property (foreclosure) or the property was sold for less than
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Over the past two years, lender-mediated foreclosure and short sale properties have seen massive declines in their sales prices as banks slash prices to spur demand and move these declining assets (or are they liabilities?) from their balance sheets. Over the same time period, traditional home sellers haven't seen their property values decline at the
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On Friday, we talked about new evidence that the banks responsible for lender-mediated foreclosures and short sales are offering slashed prices immediately at the time of listing, leading to improvements in the percent of original asking price they receive. Today, we've got some complimentary evidence of this trend. Check it: Lender-mediated properties still take longer
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As has been discussed here countless times before, lender-mediated foreclosures and short sales are selling for lower prices than traditional properties. But what about those sales prices relative to the original asking price of the property when first listed? We decided to investigate. Over the past few years, lender-mediated properties have consistently received less at sale
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Foreclosures and short sales (i.e., lender-mediated properties) continued to increase their market share in the third quarter of 2008. Over 34 percent of new listings and closed sales during Q3 2008 were lender-mediated, up significantly from the same quarter in 2007 and 2006. The increase is due in part to continued growth of lender-mediated properties,
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Foreclosures and short sales (i.e., lender-mediated properties) don’t appear to be leaving the Twin Cities housing market anytime soon. These types of properties are going to be with us for awhile, and having accurate and detailed information on their impact is crucial for buyers and sellers. MAAR is proud to announce the release of the
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Home sales are continuing along a relatively smooth course so far this summer, with newly signed purchase agreements (pending sales) increasing by 3.8 percent over last year for the week ending June 14. Over the last six weeks, pending sales are behind the same time period in 2007 by only 30 sales, or 0.6 percent.
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One of the chief causes of declining home sales in both the Twin Cities and national housing markets was the troubling affordability picture. As we’ve discussed countless times before, consumer income was outpaced in growth almost three-to-one from 1992 to 2005: This is the the darker side of the boom-year housing price increases. To use
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As you probably already know, last month we released "Foreclosures and Shortsales in the Twin Cities Housing Market" — a special research report that examines the growing prevelance of these lender-mediated properties, using a unique new methodology to track them in MLS data. We all knew that reactions to the report would likely be passionate,
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