Median Prices increase!

This is an excerpt from the Minneapolis board of realtors.

Prices creep up as traditional sales grow
Minneapolis, Minnesota (July 10, 2009) – After increasing by $12,000 from April to May, the median sales price in
the Twin Cities housing market jumped another $8,500 in June as traditional homes—those excluding foreclosures
and short sales—again increased their market share, according to the Minneapolis Area Association of
REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc.

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Short Sales - The best option to avoid foreclosure

Many homeowners are facing the idea of letting their home go to foreclosure.  It is in the best interest of the lender and the seller to try and work out a lesser payoff 'aka' short sale on the property.  This prevents the lender from having to take the property back that is stripped of copper, appliances, mechanicals... or just plain trashed.  The key to negotiating a short sale is to start early, have a solid plan of action and be persistent.  Short sales do take some time to complete, but you are much better off in the long run to try this process before the bank forecloses on the property.  Please feel free to call me or email me if you or anyone you know is having to make this hard decision.