subject: Minnesota Mls Foreclosure Listings Lead To New Mortgages [print this page] The number of foreclosed homes in Minnesota skyrocketed between 2005 and 2009. The economic downturn caused many layoffs and business closures. Business shutdowns and downsizes caused many people to suffer foreclosure.
Fortunately the economy is beginning to see the light at the end of the tunnel. People who have previously lost their home are likely to benefit by purchasing a less expensive foreclosed home. Many lenders across the US are providing mortgage lending to people with previous foreclosures.
Shadow Inventory
Shadow inventory is the term used to describe foreclosed homes that banks keep off the market for a variety of reasons. These homes have been foreclosed but are not listed for sale or auction. Shadow inventory in Minnesota will not be listed on the MN MLS.
Minnesota MLS Foreclosures
Minnesota, also known as the Land of 10,000 Lakes, has seen explosive growth over the years. The state is well known for its water sports during the summer as well as wintertime sports. Boaters enjoy the peace and quiet of any number of tranquil lakes during the summer months. Beaches line the lakes and make incredible swimming and fishing destinations for families.
Many of the homes listed on the Minnesota MLS are foreclosed lake homes that may be purchased at a fraction of their worth. Lower mortgage payments are a welcomed change to most families looking for something new.
Search Foreclosure Listings MN
Real estate investors often search Minnesota MLS foreclosures for properties that will generate a profit when resold. Minnesota's reputation for peace, quiet and relaxation precedes it in many cases. The state has been ranked the "Most Livable State" by the Mortan Quinto Press for six years.
People from all age groups show interest in the Land of 10,000 Lakes for many reasons. Colleges and technical institutions in Minnesota attract college-age people who enjoy the great outdoors. Nineteen Fortune 500 companies are based in Minnesota and attract students in hope of future employment as well as business-minded adults looking to improve their resume.
Many retirees look to southern states for retirement homes. Warm weather and relaxation tend to call them after their career comes to an end. Some prefer a more active lifestyle that only Minnesota can offer.
Minnesota Fortune 500 Companies
Some of the most profitable companies in the world are based in MN. United Health Group, Target, Supervalu and General Mills are among the top ten companies that call MN home.
Home to 19 Fortune 500 companies, Minnesota is one of the first states to see economic improvement after the economic troubles that began in 2005.
The economic upswing will catapult existing and new businesses into success. Minnesota's twin cities area is in the perfect position to assist in the creation of new business.
Minneapolis-St. Paul, Minnetonka, Eden Prairie and Richfield are currently home base to 8 of the top 10 Fortune 500 companies based in MN.
Foreclosed Homes in MN
Layoffs and other economic troubles caused a great number of foreclosed homes in MN. Information on many of those homes is available via MN MLS listing. Whether you're a student just getting your foot in the door or a retiree looking for your dream home at incredible savings, the MN MLS may hold the keys to your future.
by: Kevin Curtis
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