There has been a lot of buzz lately about short sales throughout Minnesota, especially in the Twin Cities of Minneapolis and St. Paul.  For many home owners the thought of trying to negotiate a short sale with their bank is scary and they would rather wait for the real estate market in Minneapolis and St. Paul to improve.  Before deciding to wait out the market, consider that Minneapolis home prices are down around 30% from their highs a few years ago and that prices are still dropping, by some estimates they may continue to drop for another two or three years before stabilizing.  You might have to wait 8 - 10 years before you reach a break-even-point on your Minnesota house!  Wouldn't it be better to start fresh right now? 

If your house is "upside down", you're not alone.  Some Minnesotan's are hesitant to attempt a short sale because they feel like there is a social stigma attached to it.  Well, we want to set the record strait, there are literally thousands of people just like you, including your Minneapolis and St. Paul area neighbors, who have made the decision to sell short and they have successfully negotiated short sales deals with their mortgage companies.  We pulled the sales data from the Minneapolis area MLS for Anoka County, Carver County, Dakota County, Hennepin County and Ramsey County for the period of 1/1/2010 through 2/28/2011 to see how many of your Minnesota neighbors in the Twin Cities have been selling their homes short.  Would you believe there were over 2300 home sales that were designated in the MLS as potential short sales?  It's likely that there were even more, because during the first part of 2010, most real estate agents weren't designating in the MLS that homes were potential short sales.   

Negotiating a short sale requires an experienced Minnesota short sale REALTOR®.