Real Estate Values by Lake Nokomis Homes for Sale

I love real estate. By owning a hardwood floor sanding and refinishing company in Minneapolis I get to be in homes everyday. But I am also a licensed real estate agent and investor, so I am always looking for a good deal for myself or a client. I went out yesterday night with a friend who is looking to buy a house by Lake Nokomis. It is amazing how many deals there are right now. We have probably looked at 100 houses over the last couple of months. I would say 8 of 10 houses are owned by the bank, 1 is a short sale, and 1 is a regular house owned and lived in by the owner. Most of these houses are priced under $165,000. We went in to this one last night, it was a 1 story Rambler in South Minneapolis, great condition, beautiful refinished hardwood floors, fresh paint, new appliances, heated two-car garage, three bedrooms up, two bedrooms down, with a 3/4 bathroom downstairs, and two fireplaces. Everything was new. The basement just needed to be finished because it looked like whoever owned it before was remodeling it, but lost the house before they could finish. The house was priced at $159,000! I couldn’t believe it, we put an offer in on it, it has only been on the market a few days. I see this a lot. Good houses, in nice areas, that are inexpensive. It is a supply issue. Home sales are only down 2% since last year, but there are so many foreclosures on the market. According to the National Realtor Assocation, there were 1.5 million foreclosures nationwide last year, but this year there will be 2.5 million. If your interested in buying a house by Lake Nokomis call your local agent and they can help find you a deal.