Top 40 Minnesota lake home foreclosure (bank-owned) listings posted on the Northstar Regional MLS:
This list is continually updated.
See ALL other Minnesota lakeshore foreclosures listings here.
For some of you who have always dreamed of owning Minnesota lakeshore real estate, this might be your one and only chance. Don’t goof this up. You need to be decisive to take advantage of current market conditions. As you can see from the above link, there are only about six dozen foreclosed properties on MN waterfront left. If you are a successful investor, you know that this is definitely the time to buy MN lake homes. You probably already have taken advantage of some of the great prices on foreclosed Minnesota lakeshore. “One man’s meat is another man’s poison,” as the saying goes. The economy has certainly hit some lakefront owners with unfortunate circumstances. Many simply could not manage the mortgage payments on the Minneapolis home and the payment on their shoreline property up north. Local economies in the northern parts were hit the hardest. Right now, the overall employment rate is approaching ten percent; it has to be worse around Mille Lacs and Leech Lake. Under-employment was already a big problem up there before the economy took a downturn. Folks who live in these lake houses year round have also been hit hard, and there are a number of lender-mediated listings (short sales and foreclosures) as a result. Around the metro area, there are even home foreclosures on Lake Waconia, Lake Minnetonka, and Prior Lake, to be sure.
Some of these are real “steals,” but it is still a good idea to call (612) 296-0007 to get a better understanding of the MN lake home market and special issues like septic, zoning, easements, and issues with maintaining shoreline. You might even get some advice on where to find the best fishing lakes.
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Great information on amazing homes with water amenities that are available for fantastic prices. For even more fantastics prices on great properties, visit http://www.buyphoenixazforeclosures.com. The southwest has been hard hit with lots of foreclosure properties now available at rock bottom prices.
A few years ago, buyers were looking for “fixer-uppers”. Today, they are looking for foreclosures.
Distressed homes – whether the “distress” is in the home or in the hapless previous homeowner – can spell opportunity for the new owner.
But, please take a close look at what it is you are buying.
Lakeshore homes – like any waterfront home or vacation property – may have special challenges due to their watery location and sporadic periods of use. Inspections are the key, and a little diligence up front can save the new homeowner a lot of grief in the long run.
You’re right – this period of opportunity will only last so long. When it is gone, buyers will be back to searching for homes with holes in the walls and a roof to replace!