Duluth MN Foreclosures
Search Duluth homes for sale & real estate in Duluth, MN. Remember the headlines a couple of years back about the massive number of Americans who were all of a sudden “underwater” on their mortgages? Few homeowners will forget that period of time in our country’s history. For information about Duluth neighborhood properties for sale or to schedule a private home showing, contact your Duluth Minnesota real estate experts today. Read More about Duluth real estate below.
Foreclosed Homes For Sale in Duluth MN
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Want to purchase a home in Duluth? Call your Duluth real estate team, The Kris Lindahl Team of RE/MAX Results, Official Partner of the Minnesota Wild (218) 210-2180. Your neighborhood Duluth REALTORS® and agents are here to help with the Duluth MN housing market.
Duluth Real Estate Market
Foreclosure, once a somewhat rare occurrence, became a household word and, sadly, a fact of life for too many Minnesotans. In fact, in 2008 alone, 26,000 Minnesota homeowners dealt with foreclosure.
Today, the crisis is over and the state’s foreclosure rate is down to a healthy 4.03 percent – we are one of four states with the least number of foreclosures in the nation (North Dakota has the lowest).
What is a Foreclosure?
Duluth foreclosures are homes that the lender seizes when a homeowner is in default on the mortgage. The lender then owns the property – something it neither wants nor is equipped to handle.
Lenders call their inventory of foreclosed properties “REO,” for “real estate owned.” Their main goal is to liquidate this inventory as quickly as possible, which offers some phenomenal opportunities for budget-conscious homebuyers as well as investors.
Buying a Foreclosure in Duluth
Does this mean you won’t be able to purchase a foreclosure in Duluth? Not at all. The rate has slowed, but it certainly hasn’t stopped.
What it does mean is that you’ll need to work harder, smarter and quicker when you find a foreclosure on which you hope to submit a bid.
This is why your choice of an agent to represent you in the purchase is critical. Kris Lindahl with RE/MAX Results, is the area expert on the distressed home sale and purchase process.
Duluth Homeowners: Avoid Foreclosure!
Lindahl is also the go-to agent in Duluth for underwater homeowners. His team members receive advanced training in the foreclosure avoidance process. Lindhal has even written a book for homeowners hoping to avoid foreclosure: “A Homeowner’s Guide to Short Sales.” Contact the team for your complimentary copy.
Find foreclosures in and around Duluth here on DuluthRealEstate.com, with the largest portfolio of foreclosures for sale in the Twin Cities metro area.
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