Published March 01, 2012, 11:17 AM
-- New figures show that Minnesota saw a big year-over-year jump in foreclosed property sales in the final three months of 2011. They were up 36-percent from the fourth quarter of 2010.
Minnesota sees jump in foreclosures in last quarter of 2011
Minnesota News-- New figures show that Minnesota saw a big year-over-year jump in foreclosed property sales in the final three months of 2011. They were up 36-percent from the fourth quarter of 2010.
New figures show that Minnesota saw a big year-over-year jump in foreclosed property sales in the final three months of 2011. They were up 36-percent from the fourth quarter of 2010.
RealtyTrac's Daren Blomquist says banks and other lenders are stepping up the foreclosure process. He says a lot of these lenders were beginning to list and unload some of their bank-owned properties in Minnesota for the quarter.
Those 2,700 properties selling in Minnesota represented 23-percent of all sales in the state. Blomquist says says that's a high percentage of distressed property sales. He notes that those properties sold with a built-in discount price.
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