Dakota County Bank Owned Home Sales Analysis – December 2009
January 5, 2010
Today I continue my series of reports by analyzing single-family, bank-owned homes sold in Dakota County during the month of December 2009. This is the 3rd part of my series which looked at traditionally sold homes (Dakota County Traditional Home Sales Analysis) and homes sold as part of a short sale (Dakota County Short Sale Analysis). I am comparing the final adjusted sales price (sold price less seller concessions) against the 2009 tax assessed value.
Bank-Owned Analysis
For the month of December there were 28 bank owned homes identified in MLS as having closed in Dakota County. Typically, these properties sell for the least amount as banks are anxious to get rid of these homes and they are in the worst saleable condition. On average, these bank owned properties sold for 59.7% of their tax assessed value.
One thing continues to be evident – the market in South St. Paul continues to be very weak as there were an abundance of bank owned properties in that city and they almost all sold below the average.
Therefore, the final breakdown for single family homes sold in December is as follows:
| Type of Home | Avg % Of Tax Value |
| Traditional | 86.6% |
| Short Sale | 73.4% |
| Bank Owned | 59.7% |
Conclusion
Having a Realtor that helps set correct pricing expectations is critically important for both buyers and sellers of homes. The big variables that I help provide as a full-time, full-service Realtor is to help sellers get their home to its peak selling condition and to put in place the most comprehensive marketing plan in the industry.
To get your own Market Analysis using some of the most in-depth research along with our custom Market Analysis tools contact me for a no obligation meeting – Contact Form
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