Shakopee Foreclosures

Digging through the Minnesota MLS this year may possibly be one of the largest year for Shakopee foreclosures to date. So far in 2011 there have been 28 foreclosure homes in Shakopee that have closed escrow.  36 Shakopee foreclosures are currently pending bring this years foreclosure total in Shakopee to 64 homes through only February. We are pacing over a home sold per day that is consider a Shakopee foreclosure! Now theoretically take that number and multiple by six, could that mean we are heading for 384 Shakopee foreclosures for the year?

Those Shakopee foreclosure numbers seem staggering being only 197 closed homes in Shakopee last year were foreclosures. We are heading for close to double those numbers and eclipsing the high of 331 set in 2009. Currently there are 54 homes in Shakopee that are active on the market and considered Shakopee foreclosures.

All of these numbers are only estimates being many Shakopee real estate agents often do not disclose the status of their Minnesota MLS listings or decipher if the home is a bank owned home, short sale or potential short sale. Why Shakopee real estate agent don’t disclose status can vary and it would be too time consuming to go through EVERY listing to get exact numbers

Although not perfect numbers you can see how the number of foreclosures in Shakopee have escalated since last year and how many buyers will have numerous opportunities this coming year.