The most current report on Lender Mediated sales in the Twin Cities shows the in the 1st quarter 55.8% of sales were lender mediated and in the 2nd quarter it dropped to 44.2%. That is a 20% drop.
Current new listing in the 2nd quarter that were lender mediated dropped by 5% to 7,369.
The bank owned properties seem to be dwindling quickly but short sale listings are increasing. This maybe that the banks are willing to work with sellers on their homes that they are upside down in. To get help in this area please check out our new web site www.ShortSaleHELPtwincities.com
For the full report on lender mediated sales for the 2nd quarter click here; http://www.mplsrealtor.com/downloads/market/FSS/fss.pdf