September 2008

REOSphere offers Foreclosure Listings Map Search - Buyer’s find Opportunities in Minnesota

Minnesota Foreclosure Homes are on the rise. REOSphere offers a free foreclosure listings portal to find these highly desired foreclosures for sale.

Minneapolis, MN (PRWEB) September 23, 2008 — Minnesota Foreclosure Homes are on the rise. REOSphere offers a free foreclosure listings portal to find these highly desired foreclosures for sale. Minnesota is ranked number 27th in properties with foreclosures for sale and filings. And the numbers continue to climb. Minnesota foreclosures for sale are up 119.71% from the second quarter of 2007. Further research shows Minneapolis/St. Paul foreclosure homes are ranked number 59th of Top 100 US Metro Foreclosure market, with over 5,000 foreclosure listings.

Based on information from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC for the period of September 12th 2008 through September 22nd 2008 there were 490 new foreclosure listings for this 10 day period.

• Foreclosure Listings Home prices range from $1,075,000 to $18,000.
• Highest foreclosure listings were in Edina, Shorewood, Eagan, Wyoming, Plymouth, Minnetonka and Chanhassen.

With more Minnesota’s Twin Cities homes going into the pool of foreclosures for sale, buying foreclosed homes has become an increasingly trendy means among investors and homebuyers.

Home buyers are very cautious to pay full price for property right now, even though property values have come down in the past year and a half. With little market confidence, people turn to foreclosures for sale, which can often be bought for well below their market value.

REOSphere.com offers a map based search for investors and home buyers to perform easy foreclosure listings searches in Minnesota. Finding foreclosures for sale is free and easy.

“Helping put Minneapolis / Saint Paul families and homeowners back into neighborhoods is our first goal,” says founder and Foreclosure Buyer Representative, Randi Thornton. “Nearly every neighborhood in the Twin Cities has homes in foreclosures for sale. We know where they are and how to negotiate with the banks to offer home buyers the best opportunity for selection and savings!”

For more information about REOSphere and start foreclosure homes searching visit REOSphere.com or call Randi Thornton at 612-414-2541.
 

July 2008

Due to Demand New Web Site Offers Foreclosure Listings and Advice for Twin Cities Home Buyers.

It is a home buyers market! But look at the numbers and it becomes clear, buying a home that has been foreclosed can offer greater savings!

A recent study performed by the Minneapolis Area Association of Realtors revealed some more exciting news for home buyers.

Market Share for Foreclosures is on the rise, which means more selection for home buyers seeking these homes. “The percent of total new residential listings in the Twin Cities 13-county region that are flagged as foreclosures or short sales using our methodology has shown steady growth, rising from 2.9 percent in Q1 2006 to 7.1 percent in Q1 2007 and 21.7 percent in Q1 2008” according to the article.

Also noted “The foreclosure and short sale market has seen a drop of 15.9 percent in median sales price from Q1 2006 to Q1 2008.” What does this mean for home buyers today? Buying a home that has been foreclosed on verses buying a home from a traditional home seller, may reap additional substantial savings.

Reosphere.com is making it easier for home buyers searching for foreclosed homes to find listings and even takes it one step further. The site offers school data, property photos, property details, map searches, neighborhood information and even local stores and restaurants. “We created a platform for these homes to showcase them and made it very user friendly,” say Randi Thornton Reosphere.com’s founder. The site allows the user to search by price, square footage, number bedrooms, number bathrooms, and lot size.

“So many home buyers were frustrated finding one source that catered to this market.” said Randi Thornton of Reosphere.

While some companies are offering foreclosure bus tours, we felt more buyers would be interested in searching the whole metro area from their computer, verses getting on a bus and seeing 5-10 homes that may or may not be homes they are interested in.

North Star MLS currently has over 2,900 homes listed that are lender owned.
Now is the time to buy and a foreclosed home can amount to massive savings!

June 2008

New Real Estate Foreclosure Business Model: Smart Buyers. Smart Homes.

Reosphere offers Home Buyers a significant savings when purchasing a new home.

Imagine a Real Estate company that actually welcomes the opportunity to show home buyers properties otherwise displaced by other real estate agents, that actually can save home buyers massive money.

Reosphere is the first recognized real estate company to exclusive show home buyers foreclosed properties.Reosphere’s business model centers on serving home buyers an opportunity to first review homes on the market that are bank owned or otherwise known as REOs.

We know there is a story behind every foreclosed property. A family losing their time is a sad situation. However, the fact there are 6,600 active homes for sale in the Twin Cities deemed as foreclosures cannot be ignored.

Reosphere does not think the average home buyer knows what the benefits maybe.

The major driving force for any home buyer to first look at these foreclosures is in the numbers. A Special Research Report from the Minneapolis Area Association of REALTORS® demonstrates the significant savings for home buyers who purchase a foreclosed home verse a traditional sale.

When you consider the purchase price savings alone this is a good reason to look at foreclosed properties a priority. However, there are other savings as well. Consider the amount of money you save monthly on mortgage payments, or interest you will save over the course of your mortgage. We are talking serious money.

The company says it’s offering of ” free foreclosure searches” and ” first-hand knowledge” of how to place offers on these unique properties can make the process just as easy as a traditional home sale. Plenty of real estate brokers offer mls listings to their customers, but REOSPHERE, INC. makes the search for a bargain home easier. By offering only foreclosed homes, they are truly the first place to start when searching for a new home.

REOSPHERE’s CEO Randi Thornton admits that a foreclosure home search for new home buyers at first sounds like a gimmick. But she says it is in the best interest of any home buyer today to first consider a foreclosure.

She is also betting that the substantial savings will be enough for home buyers to grasp the concept that a foreclosure property is the first place to start when seeking a new home.

Most realtors tend to shy away from showing buyers a possible foreclosed home. The paper work and time frame may be more than they are willing to work with.

Most home buyers have a preconceived notion that buying a foreclosed home will entail extensive renovation and homes are in areas they may not deem desirable. This is not the case, notes Thornton. Foreclosed homes are in every neighborhood and community today. Some may require major work but the homes we work with will have minimum work required or move in condition. There are opportunities out there for anyone today.