Here are some potential* Elk River short sales listings recently posted on the MLS system:
See ALL potential Elk River short sales currently available on the Northstar Regional MLS/IDX system. Please note that this link is updated daily and that prices and availability of these properties are subject to change without notice.
*The above Elk River townhomes and single family homes are posted as “potential” short sales listings because final sale prices may be less than the balance of the current mortgages on the homes. Offers may be subject to third party approval. Some of these Elk River short sales listings may have prices that have been pre-approved by lender. Please call for details or expert guidance on purchasing short sales. Short sales transactions differ greatly from traditional sales.
Elk River Short Sales Create Opportunity
If you are thinking of purchasing a home in the greater Minneapolis area, you could not pick a smarter time to buy. Rates are low, prices are great and there is a wide selection of inventory, in part due to the number of Elk River short sales listings currently available. As a result, they are attracting both savvy real estate investors and first time home buyers alike. Current real estate market conditions are creating a window of opportunity for renters who are wishing to kiss their landlords “goodbye.”
While it is true that there is a good selection of Elk River short sales and other lender-mediated properties available, this is not a good time to “sit on your hands.” It is no secret that this is still an excellent buyers market, but as the inventory of these types of properties dwindles, prices are expected to rise. Real estate investors are buying these properties up for rental properties or for fixing up and reselling. They are interested in Elk River short sales listings for both positive cash flow now, as well as for future value. The economic downturn and irresponsible lending practices created conditions that account for the inventory of lender-mediated properties, but Elk River’s award-winning schools, top-notch municipal amenities, resilient local economy, and overall quality of living means that Elk River real estate is still one of the best long-term investments you can make.
Top real estate photo courtesy of Reese Imaging.