Welcome to the Twin Cities of Minneapolis, St. Paul and our 90+ suburbs. This site is dedicated to the local foreclosure, pre-foreclosure and bank owned property real estate market. It is unique in that it is the only website of it's kind designed for all three of the major participants who might be involved in the foreclosure process. Lenders. Owners in Foreclosure. And potential buyers of this type of property. All three can directly benefit from this site and it's information and services. Here we bring all the parties together for a true win-win-win situation.

This site is a work in progress so I apologize in advance if it is not always smooth flowing. We will be regularly updating the information and services so please feel free to bookmark this site.

In starting here remember that using the Internet is not the same as using an Experienced Foreclosure Specialist. It is basically raw data. It is massive amounts of information but without meaningful interpretation. Just as the internet has websites filled with medical data, it still is not a doctor who knows what to do with the information. It cannot consult, counsel, or advise you. But we can. Our job is help you have the best experience possible. We will help bring meaning to the data while explaining each step of the process as it applies to you.

As the Twin City's leading team of Single Agency Foreclosure Specialists we will help you with marketing alternatives, buying alternatives, financing, contracts and negotiating advice that you can't receive from typical local real estate companies. Why?

First of all, most real estate agents really know very little about foreclosures. Some take a one or two day course and call themselves experts. But are they? I have been working in the foreclosure field for over 19 years. And for the past 5 years some 99% of my business has been foreclosure related. I work in this specialization every day, not just once in a while.

Second, because some 98% of the real estate companies are all too often trying to work for more than one party in the same transaction. That means the promise of getting their sellers the highest price and best terms, while promising their buyers the lowest price. On the same property! It's called Dual Agency and it's not exactly possible, is it? That's why leading consumer groups say to use a real estate company that will pick a side and stay on it. A Single Agency Specialist. To learn more about the problems of Dual Agency (working for both buyers and sellers on the same property) and how it can harm consumers click the button on left, "Dual Agency Getting Worse".

Let's now talk first about our Foreclosure, Pre-Foreclosure and Bank Owned BUYING SERVICES. (If you are a consumer facing foreclosure or the possibility of foreclosure you may want to drop down to the second half of this page.)

Many buyers today are looking at the foreclosure market as the source of the best buys in today's market. Understanding this market becomes a key component. In addition to the services here we have teamed with national experts to provide you with the best in information and training. Late night television gimmicks have no place with buyers who are ethical and want to do things right. We are proud to now have available services that will allow you to make excellent buys and help your fellow Twin Citians who may have fallen on hard times.

BIG NEWS! We are proud to have been recognized as leading area Bank Owned Home Specialists. Organizations specializing in foreclosures such as RealtyTrac and the All- Foreclosure Network regularly feature our information and advise. Because of this "Insider" status many of the best properties are now made available to us and our clients before the rest of the market knows about them. These often will not appear in the MLS for the general public until three to seven days after we are notified. And even when they appear on the market most, if not all, will not be identified as the bank owned bargains they are. But we have taken the time to identify them and make them available to our buyer clients. Right now we have over 1,200 bank owned properties throughout the Twin Cities in our exclusive data base. To our knowledge this is the only up-to-date list of its kind. (If you are subscribing to the typical national Foreclosure Search list you are wasting your money as over 1/3 to 1/2 of the list will be wrong and/or outdated. Want to check their accuracy? Give me a call or email for a free verification check.) Now you can know about these bargains immediately. Whether looking for an investment or a smart buy on your next home this will put you miles ahead of other buyers. To request a sample search use the Foreclosure/Bank Homes Search Request link at the upper left hand side of this page.

BUYING TIP: Less than 1 in 200 agents has substantial knowledge of these bank owned properties and how best to buy them. As a Certified Foreclosure Specialist I have over 18 years experience in finding these properties and saving buyers money. Savings of 10%,20%, even 30% are not uncommon. And recently we have added pre-foreclosures and short sales to our list.

While most national foreclosure listing sites are not very good, our clients regularly ask which ones are better. We have found the following site to be one of the best if you need "third party" advise and property information. They offer you a free trial period and you can verify active bank owned properties with me at any time. Just click on "Go". You don't even need a zipcode.

Spring is here, believe it or not. Although there has been much hype about a major slowdown in pricing we are seeing a high demand for these bank owned properties with the coming of warmer weather. Starting sooner rather than later will save you money. Latest figures show overall house prices modestly declining by some 5.2% in most Twin City Metro areas for last 12 months as compared to the previous 12 months where we still saw minor depreciation of 2.3%.   Larger declines have been seen in a few specific neighborhoods, but overall the Twin City real estate market has not seen the larger depreciation rates of other metro areas.  We now have up-to-date statistics for individual cities. Don't trust the mass media for details.  Call or email me for this important information.

Sample Property Search

Let's start the buying process by looking at some houses. Use the no hassle Property Search link above and you will be able to see properties listed in the Twin City Multiple Listing Service (MLS). This is not week old information, but up-to-date market housing data. This allows you to tour homes that meet your criteria from the comfort of your computer. You will know about homes coming on the market as fast as most real estate agents. While this search function will not tell you which properties are bank owned or in foreclosure, it will let you see the overall real estate market in your areas of choice and price range. From there we can start you on your way to foreclosure purchases.

Best of all you will never have to deal with a pushy listing agent trying to sell you a house he/she has listed.

If you want to get going even faster take advantage of our new feature just added to our Preferred HomeBuyer Property Search. The Foreclosure/Bank Owned Search link is at the upper left hand of this page. This will allow you to sign up for more detailed house searches specifically for foreclosures and bank owned properties. You can even be notified if any changes occur on the properties you are researching, from new pictures to price reductions. But most importantly it will give you greater detailed information on these houses. Again, there is no cost or obligation, but you must request it.

In our quest for better and better values for real estate consumers we now have to a number of excellent finance programs including programs designed with investors and rehabbers in mind. Did you know that you can buy a property in need of updating and/or repairs and roll the costs into the mortgage? There are even ways that this new program can result in a ZERO DOWN loan.

Not sure what the interest rates are doing from day to day. Bookmark this page. We have made arrangments with the leading lender research site to have the real national daily mortgage interest rates available. These are averages from some 2,000 lenders across the country. Here are today's average interest rates.

 

Now some information for those of you facing the uncertainty of foreclosure.

This is a scary time. We know because we work with people facing foreclosure every day. While the word can mean different things to different people, it all boils down to the loss of a person's biggest asset, his/her home. The good news is that you have options. Probably more than you think. Whether it is a mortgage workout plan, refinancing your current home loan, a short sale if you owe more than your property is worth, or a pre-foreclosure relocation there is a solution short of going through foreclosure. But there is a timeline and the clock is ticking. Each day that passes may mean another option is no longer available. As Foreclosure Specialists we want you to know what your choices are. And they do include staying in your house.

We work with foreclosure lenders all over the country. Each has a unique set of alternatives when dealing with this situation. Again, good news. They do not want to take your property. But you need to know how to work with them and how best to find an agreeable solution for both you and the lender. And we are here to help you work with your lender. Your lender will usually work more easily with a knowledgable third party specialist than they may with an owner. That's where we come in. We act as a buffer between you and your lender. Even better, most of our lender work is free to our clients. If you are getting calls and letters from companies offering to do this work for hundreds to thousands of dollars, check with us first. Call or email me for a free no obligation consultation.

Sometimes the only alternative is to sell your property. But that should be considered only if all other alternatives have been exhausted or that is what you truly want to do. Then allow me to market your home for a quick and better sale. As a Certified Seller Specialist, I know what it takes to sell a home that is in foreclosure. I bring expert knowledge, valuable experience blended with the latest technology, a well-defined marketing plan, a cohesive network, energy, enthusiasm and the excitement of a job well done. Find out why dozens of banks and corporations use my services to market their toughest properties. Even if you feel you have no equity in the property (loan balance and sales costs will be more than the sale price)we can still be of help. This is what is called a Short Sale.  Simply, the lender agrees to take less than what they are owed.  We will work with your lender and if we can not help there is no charge. Even better, in most circumstances the lender will pay us to market your property. That's right, no real estate commission to be paid by you. Ask for details.

And what about those ads saying that people will buy a property for cash? Well, selling to an investor is one option. But understand that an investor will want to make a quick profit. Sometimes a very large profit. Cash to you, yes. Just not very much of it. That seems to be the common thread with many investors today. Many use outdated formulas that will give you only 60-70% of what the property is actually worth. That is so they can turn around and sell it immediately to another buyer willing to pay a fair price for the home.  Something you can do in the first place if you act.right away. 

WARNING:  State of Minnesota and local consumer groups are warning those in foreclosure of a practice of some investors who try and have you sign over the property to them or a trust while claiming to work with your lender.  Never sign over your property unless there is a completed sale.

Many investors also claim you will save money by not paying any real estate fees when you sell to them. Not so, as that is the first money that they take off the table when offering you their discounted offer. (One of the first things taught in many real estate investment classes.)  You are actually paying them the fee to sell the house to the next person. Yes, you are paying their selling commission for them.

Don't get me wrong, there are many honest and ethical investors out there.  Let us help you investigate this possibility as well. The positives and the negatives. As we regularly work with ethical investors and other buyers interested in properties just like yours, we likely have a buyer already in the wings who isn't out to steal your property.  Either way we will show you how this option works. The pros and cons. You can then make an informed decision.

Unfortunately the seller's market of the past several years is now over. Your property must stand out from the competition now more than ever. From staging the property for sale, to special financing, to negotiations and more, I will show you how to make the best of a bad situation.

• Detailed Home Evaluation Report and advice on the best price to list your home
• Vast exposure to your listing through the MLS with direct marketing to the top Buyer Agents in the area
• Talking House to distinguish your listing.
• Unique and Innovative Marketing
• A Personal Consultation - Vast experience and knowledge you can rely on to help you in this unique situation
• Relocation - Everything you need to know about this complicated process and how to best move on with your life

  If you are planning to place your home on the market, browse my website for valuable information on preparing your home for sale, pricing your home right, and marketing it effectively. We have a number of free reports dealing with explaining the foreclosure process. Just go to the link on the left hand side of the page and choose from the menu.

  Then call or email me today. When you face foreclosure every minute counts. As each day passes the chances of finding a solution grows less and less likely. I sell bank owned properties and time and again have seen distressed home owners that let solutions slip away because they didn't know they had alternatives. They didn't consult a Foreclosure Specialist.

  We are licensed real estate professionals . As such we are held to the highest ethical standards as well as strict duties demanded by the State of Minnesota. We want to help you find a solution to this situation. We want to earn your business.

Lenders

Just a short message.  We are happy to assist you with all aspects of this process.  From loss mitigation through REO property marketing and sales.  Our Bank Owned Property Division is ready and able to assist you.  Contact us with your requirements today.

 

-Steele V. Propp, Certified Single Agency Representative, Representing My Clients 100%, 100% of the Time

National Foreclosure Listings