The phrase “Edina real estate” conjures up images of a country club lifestyle with a high quality-of-living standard. It hardly brings ideas like “distressed properties,” “short sales,” “foreclosures,” “bank-owned” or REO properties. Without having done much research on this, I would venture to say that the number of lender mediated listings is much less than it is in other communities. This is certainly the case for Edina condo foreclosures. In fact, if you are looking for lender mediated townhouses and condominiums in this city, there is “slim pickin’s.” At the time of this post, there were only six of them on the Edina MLS/IDX system. With investors and other “bottom-feeders” on the prowl, I would not expect this sort of inventory to increase in the near future. Real estate investors are buying these kinds of properties up because they can cash flow them, as well as create future value. Edina is one of those real estate markets that tends to hold value, and enjoys a more-or-less permanent demand because of its amenities, school system, convenient location, and reputation for quality living.
At the time of this post, there were only four Edina condo foreclosures available, according to the MN MLS IDX system.