Realtor and blogger Teresa Boardman has “the numbers no one wants published.”
Thirty percent of the properties on the market are in foreclosure.
And she reveals:
Banks really are dropping their prices and starting to actually sell off the properties they own. I am noticing that when my clients make offers on these properties they often end up in multiple offer situations. Some of the banks are dropping their asking price every week or two until they start getting offers. They then wait until they collect a few offers and start working with the best one, taking care that each buyers knows he or she is in a multiple offer situation and can raise their bid.
About the blogger
Bob Collins has been with Minnesota Public Radio since 1992, emigrating to Minnesota from Massachusetts. He was senior editor of news in the ’90s, ran MPR’s political unit, created the MPR News regional website, invented the popular Select A Candidate, started the two most popular blogs in the history of MPR and every day laments that his Minnesota Fantasy Legislature project never caught on.
NewsCut is a blog featuring observations about the news. It provides a forum for an online discussion and debate about events that might not typically make the front page. NewsCut posts are not news stories but reflections , observations, and debate.