Foreclosure homes are still selling very good.   There are some banks that price the home to sell very fast and they may even price it too low to stimulate multiple offers – and then there are some banks who still start out too high.

We find that most foreclosure banks have systemized price reductions at set times.  They usually do not drop huge amounts from what they are currently listed for with offers.  They have already lost their money and aren’t always in huge hurries to dump properties.

We, the Lundby team have been tracking every foreclosure and short sale that has happened in the Hastings area since December 2007. We have a spreadsheet to show our buyers what the banks are doing.  We also track for upcoming foreclosures. So – if you are looking for something in a certain area – give us a call – we may know which ones will be coming up soon.  651-437-2121 – ask for the Lundby Team.

If you see a foreclosure out there – our best advice is to call us right away.  Many of the agents who list foreclosure homes have 100’s of properties for sale and they don’t have time to work with buyers or do a good job helping them find a good deal.  They will just pass you on to some agent who works under them to try to sell you the home.  They probably don’t even know much about other homes for sale in the area as they work all over the place.