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Price Surges Are a Boon to Minneapolis Foreclosure Investing

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By : John Cutts    99 or more times read
Price improvements are a boon to Minneapolis foreclosure investing. Price appreciation indicates that people are competing to buy homes, increasing opportunities for real estate investors to resell their properties at a profit.

Based on the most recent Standard & Poor’s/Case-Shiller house price index, considered among the most reliable indexes, housing prices in the Minneapolis-Saint Paul metro area increased by 6.5 percent in March over the year, much higher than the increase of the whole 20-city index, which was only 2.3 percent.

The Twin Cities was one of 10 cities that posted price increases, out of the 20 cities tracked by the index. The Minneapolis area posted the fourth-highest increase, with San Francisco and San Diego experiencing the biggest increase rates.

Over the years since 2000, the S&P home price index for the Minneapolis area has risen by a total of almost 16 percent.

For people engaged in Minneapolis foreclosure investing, the 11-percent year-over-year jump in the Twin Cities home price median in April to $169,800 is a positive development. It means that the Twin Cities area is continuing its economic recovery and making the environment better for property investors and business enterprises.

For those planning to broaden their target areas and start buying foreclosed homes outside the Twin Cities area, they can pursue their plans as there are still a lot of foreclosed homes for sale in Minnesota for them to explore.

In the first quarter, another 2,205 homes were added to the existing bank foreclosure inventory, and most of the over 1,500 in pre foreclosures were likely to move on to repossession as distressed homeowners find it hard to restore their delinquent accounts.

The home price report released by the S&P for March was in line with the price report released by the Minneapolis Area Association of Realtors for the same month. Association members explained that fewer foreclosure sales allowed prices to move up.

With the rising demand for homes and the appreciation of house prices in the Twin Cities, Minneapolis foreclosure investing is a profitable endeavor.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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