Get the latest sales statistics on foreclosure activity in the 13 County Metropolitan area.

1. Foreclosures and Short Sales
in the Twin Cities
September 2010
2
3
4
5
Contents
New Listings
Pending Sales
Closed Sales
Median Sales Price
2
3
4
5
6
7
8
9
10
Contents
New Listings
Pending Sales
Closed Sales
Median Sales Price
Percent of Original List Price Received
Days on Market Until Sale
Inventory of Homes for Sale
Months Supply of Inventory
Explanation of Methodology
“Lender-Owned” refers to foreclosure properties in which the financial institution has repossessed the home from the owner due to nonpayment of mortgage obligations. “Short Sales”
refer to unique arrangements where the financial institution and in-default homeowner work together in an attempt to sell the home before it is foreclosed upon. “Traditional” refers to
a property listed by a typical seller who is not in either of the prior two categories.
The numbers provided in this report are best estimates based upon data from the Regional Multiple Listing Service and may not match other data sources perfectly.
See Page 10 for an explanation of methodology.
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org

2. Foreclosures and Short Sales in the Twin Cities
N Li ti
September 2010
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union 2
New Listings
5,314 5,088
4,519
9-2008 9-2009 9-2010
5,314
1,748
850
5,088
1,200 1,047
4,519
1,269
927
9-2008 9-2009 9-2010
Traditional Lender-Owned Short Sales
5,314
1,748
850
5,088
1,200 1,047
4,519
1,269
927
9-2008 9-2009 9-2010
- 4.3% - 11.2% - 31.4% + 5.8% + 23.2% - 11.5%
Traditional Lender-Owned Short Sales
5,314
1,748
850
5,088
1,200 1,047
4,519
1,269
927
9-2008 9-2009 9-2010
12 000
Historical New Listings Traditional
Lender-Owned
Short Sales
- 4.3% - 11.2% - 31.4% + 5.8% + 23.2% - 11.5%
Traditional Lender-Owned Short Sales
5,314
1,748
850
5,088
1,200 1,047
4,519
1,269
927
9-2008 9-2009 9-2010
6,000
8,000
10,000
12,000
Historical New Listings Traditional
Lender-Owned
Short Sales
- 4.3% - 11.2% - 31.4% + 5.8% + 23.2% - 11.5%
Traditional Lender-Owned Short Sales
5,314
1,748
850
5,088
1,200 1,047
4,519
1,269
927
9-2008 9-2009 9-2010
0
2,000
4,000
6,000
8,000
10,000
12,000
1 2007 1 2008 1 2009 1 2010
Historical New Listings Traditional
Lender-Owned
Short Sales
- 4.3% - 11.2% - 31.4% + 5.8% + 23.2% - 11.5%
Traditional Lender-Owned Short Sales
5,314
1,748
850
5,088
1,200 1,047
4,519
1,269
927
9-2008 9-2009 9-2010
0
2,000
4,000
6,000
8,000
10,000
12,000
1-2007 1-2008 1-2009 1-2010
Historical New Listings Traditional
Lender-Owned
Short Sales
- 4.3% - 11.2% - 31.4% + 5.8% + 23.2% - 11.5%
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 2

3. Foreclosures and Short Sales in the Twin Cities
P di S l
September 2010
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union 3
Pending Sales
2 146
2,778
9-2008 9-2009 9-2010
2,146
1,146
2,778
1,207
383
1,664
907
9-2008 9-2009 9-2010
Traditional Lender-Owned Short Sales
2,146
1,146
266
2,778
1,207
383
1,664
907
337
9-2008 9-2009 9-2010
+ 29.5% - 40.1% + 5.3% - 24.9% + 44.0% - 12.0%
Traditional Lender-Owned Short Sales
2,146
1,146
266
2,778
1,207
383
1,664
907
337
9-2008 9-2009 9-2010
4 500
Historical Pending Sales Traditional
Lender-Owned
Short Sales
+ 29.5% - 40.1% + 5.3% - 24.9% + 44.0% - 12.0%
Traditional Lender-Owned Short Sales
2,146
1,146
266
2,778
1,207
383
1,664
907
337
9-2008 9-2009 9-2010
2 000
2,500
3,000
3,500
4,000
4,500
Historical Pending Sales Traditional
Lender-Owned
Short Sales
+ 29.5% - 40.1% + 5.3% - 24.9% + 44.0% - 12.0%
Traditional Lender-Owned Short Sales
2,146
1,146
266
2,778
1,207
383
1,664
907
337
9-2008 9-2009 9-2010
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
1 2007 1 2008 1 2009 1 2010
Historical Pending Sales Traditional
Lender-Owned
Short Sales
+ 29.5% - 40.1% + 5.3% - 24.9% + 44.0% - 12.0%
Traditional Lender-Owned Short Sales
2,146
1,146
266
2,778
1,207
383
1,664
907
337
9-2008 9-2009 9-2010
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
1-2007 1-2008 1-2009 1-2010
Historical Pending Sales Traditional
Lender-Owned
Short Sales
+ 29.5% - 40.1% + 5.3% - 24.9% + 44.0% - 12.0%
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 3

4. Foreclosures and Short Sales in the Twin Cities
Cl d S l
September 2010
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union 4
Closed Sales
2,576 2,608
9-2008 9-2009 9-2010
2,576
1,240
2,608
1,185
1,608
816
9-2008 9-2009 9-2010
Traditional Lender-Owned Short Sales
2,576
1,240
251
2,608
1,185
352
1,608
816
307
9-2008 9-2009 9-2010
+ 1.2% - 38.3% - 4.4% - 31.1% + 40.2% - 12.8%
Traditional Lender-Owned Short Sales
2,576
1,240
251
2,608
1,185
352
1,608
816
307
9-2008 9-2009 9-2010
4 500
Historical Closed Sales Traditional
Lender-Owned
Short Sales
+ 1.2% - 38.3% - 4.4% - 31.1% + 40.2% - 12.8%
Traditional Lender-Owned Short Sales
2,576
1,240
251
2,608
1,185
352
1,608
816
307
9-2008 9-2009 9-2010
2 000
2,500
3,000
3,500
4,000
4,500
Historical Closed Sales Traditional
Lender-Owned
Short Sales
+ 1.2% - 38.3% - 4.4% - 31.1% + 40.2% - 12.8%
Traditional Lender-Owned Short Sales
2,576
1,240
251
2,608
1,185
352
1,608
816
307
9-2008 9-2009 9-2010
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
1 2007 1 2008 1 2009 1 2010
Historical Closed Sales Traditional
Lender-Owned
Short Sales
+ 1.2% - 38.3% - 4.4% - 31.1% + 40.2% - 12.8%
Traditional Lender-Owned Short Sales
2,576
1,240
251
2,608
1,185
352
1,608
816
307
9-2008 9-2009 9-2010
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
1-2007 1-2008 1-2009 1-2010
Historical Closed Sales Traditional
Lender-Owned
Short Sales
+ 1.2% - 38.3% - 4.4% - 31.1% + 40.2% - 12.8%
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 4

5. Foreclosures and Short Sales in the Twin Cities
M di S l P i
September 2010
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union 5
Median Sales Price
$212,000
$179 000
$200,000
$215,250
9-2008 9-2009 9-2010
$212,000
$136,650
$179,000
$200,000
$118,900
$150,000
$215,250
$114,950
$143,000
9-2008 9-2009 9-2010
Traditional Lender-Owned Short Sales
$212,000
$136,650
$179,000
$200,000
$118,900
$150,000
$215,250
$114,950
$143,000
9-2008 9-2009 9-2010
- 5.7% + 7.6% - 13.0% - 3.3% - 16.2% - 4.7%
Traditional Lender-Owned Short Sales
$212,000
$136,650
$179,000
$200,000
$118,900
$150,000
$215,250
$114,950
$143,000
9-2008 9-2009 9-2010
$250 000
Historical Median Sales Price Traditional
Lender-Owned
Short Sales
- 5.7% + 7.6% - 13.0% - 3.3% - 16.2% - 4.7%
Traditional Lender-Owned Short Sales
$212,000
$136,650
$179,000
$200,000
$118,900
$150,000
$215,250
$114,950
$143,000
9-2008 9-2009 9-2010
$175,000
$200,000
$225,000
$250,000
Historical Median Sales Price Traditional
Lender-Owned
Short Sales
- 5.7% + 7.6% - 13.0% - 3.3% - 16.2% - 4.7%
Traditional Lender-Owned Short Sales
$212,000
$136,650
$179,000
$200,000
$118,900
$150,000
$215,250
$114,950
$143,000
9-2008 9-2009 9-2010
$100,000
$125,000
$150,000
$175,000
$200,000
$225,000
$250,000
1 2007 1 2008 1 2009 1 2010
Historical Median Sales Price Traditional
Lender-Owned
Short Sales
- 5.7% + 7.6% - 13.0% - 3.3% - 16.2% - 4.7%
Traditional Lender-Owned Short Sales
$212,000
$136,650
$179,000
$200,000
$118,900
$150,000
$215,250
$114,950
$143,000
9-2008 9-2009 9-2010
$100,000
$125,000
$150,000
$175,000
$200,000
$225,000
$250,000
1-2007 1-2008 1-2009 1-2010
Historical Median Sales Price Traditional
Lender-Owned
Short Sales
- 5.7% + 7.6% - 13.0% - 3.3% - 16.2% - 4.7%
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 5

6. Foreclosures and Short Sales in the Twin Cities
P t f O i i l Li t P i R i d
September 2010
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union 6
Percent of Original List Price Received
96.7%
100%
9-2008 9-2009 9-2010
93.6%
90.0%
86.4%
93.8%
96.7%
87.0%
92.3%
90.0%
85.4%
85%
90%
95%
100%
9-2008 9-2009 9-2010
Traditional Lender-Owned Short Sales
93.6%
90.0%
86.4%
93.8%
96.7%
87.0%
92.3%
90.0%
85.4%
80%
85%
90%
95%
100%
9-2008 9-2009 9-2010
+ 0.1% - 1.6% + 7.4% - 6.9% + 0.7% - 1.8%
Traditional Lender-Owned Short Sales
93.6%
90.0%
86.4%
93.8%
96.7%
87.0%
92.3%
90.0%
85.4%
80%
85%
90%
95%
100%
9-2008 9-2009 9-2010
100%
Historical Percent of Original List Price Received Traditional
Lender-Owned
Short Sales
+ 0.1% - 1.6% + 7.4% - 6.9% + 0.7% - 1.8%
Traditional Lender-Owned Short Sales
93.6%
90.0%
86.4%
93.8%
96.7%
87.0%
92.3%
90.0%
85.4%
80%
85%
90%
95%
100%
9-2008 9-2009 9-2010
90%
95%
100%
Historical Percent of Original List Price Received Traditional
Lender-Owned
Short Sales
+ 0.1% - 1.6% + 7.4% - 6.9% + 0.7% - 1.8%
Traditional Lender-Owned Short Sales
93.6%
90.0%
86.4%
93.8%
96.7%
87.0%
92.3%
90.0%
85.4%
80%
85%
90%
95%
100%
9-2008 9-2009 9-2010
80%
85%
90%
95%
100%
Historical Percent of Original List Price Received Traditional
Lender-Owned
Short Sales
+ 0.1% - 1.6% + 7.4% - 6.9% + 0.7% - 1.8%
Traditional Lender-Owned Short Sales
93.6%
90.0%
86.4%
93.8%
96.7%
87.0%
92.3%
90.0%
85.4%
80%
85%
90%
95%
100%
9-2008 9-2009 9-2010
80%
85%
90%
95%
100%
1-2007 1-2008 1-2009 1-2010
Historical Percent of Original List Price Received Traditional
Lender-Owned
Short Sales
+ 0.1% - 1.6% + 7.4% - 6.9% + 0.7% - 1.8%
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 6

7. Foreclosures and Short Sales in the Twin Cities
D M k t U til S l
September 2010
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union 7
Days on Market Until Sale
145
196
185
207
9-2008 9-2009 9-2010
139 145
196
126 118
185
129
109
207
9-2008 9-2009 9-2010
Traditional Lender-Owned Short Sales
139 145
196
126 118
185
129
109
207
9-2008 9-2009 9-2010
- 9.5% + 2.4% - 18.5% - 8.0% - 5.9% + 11.9%
Traditional Lender-Owned Short Sales
139 145
196
126 118
185
129
109
207
9-2008 9-2009 9-2010
250
Historical Days on Market Traditional
Lender-Owned
Short Sales
- 9.5% + 2.4% - 18.5% - 8.0% - 5.9% + 11.9%
Traditional Lender-Owned Short Sales
139 145
196
126 118
185
129
109
207
9-2008 9-2009 9-2010
150
175
200
225
250
Historical Days on Market Traditional
Lender-Owned
Short Sales
- 9.5% + 2.4% - 18.5% - 8.0% - 5.9% + 11.9%
Traditional Lender-Owned Short Sales
139 145
196
126 118
185
129
109
207
9-2008 9-2009 9-2010
75
100
125
150
175
200
225
250
1 2007 1 2008 1 2009 1 2010
Historical Days on Market Traditional
Lender-Owned
Short Sales
- 9.5% + 2.4% - 18.5% - 8.0% - 5.9% + 11.9%
Traditional Lender-Owned Short Sales
139 145
196
126 118
185
129
109
207
9-2008 9-2009 9-2010
75
100
125
150
175
200
225
250
1-2007 1-2008 1-2009 1-2010
Historical Days on Market Traditional
Lender-Owned
Short Sales
- 9.5% + 2.4% - 18.5% - 8.0% - 5.9% + 11.9%
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 7

8. Foreclosures and Short Sales in the Twin Cities
I t f H f S l
September 2010
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union 8
Inventory of Homes for Sale
23,543
18,689 19,134
9-2008 9-2009 9-2010
23,543
4,890 4 477
18,689
5,195
19,134
5,175
9-2008 9-2009 9-2010
Traditional Lender-Owned Short Sales
23,543
4,890 4,477
18,689
2,261
5,195
19,134
3,064
5,175
9-2008 9-2009 9-2010
- 20.6% + 2.4% - 53.8% + 35.5% + 16.0% - 0.4%
Traditional Lender-Owned Short Sales
23,543
4,890 4,477
18,689
2,261
5,195
19,134
3,064
5,175
9-2008 9-2009 9-2010
35 000
Historical Inventory Traditional
Lender-Owned
Short Sales
- 20.6% + 2.4% - 53.8% + 35.5% + 16.0% - 0.4%
Traditional Lender-Owned Short Sales
23,543
4,890 4,477
18,689
2,261
5,195
19,134
3,064
5,175
9-2008 9-2009 9-2010
15 000
20,000
25,000
30,000
35,000
Historical Inventory Traditional
Lender-Owned
Short Sales
- 20.6% + 2.4% - 53.8% + 35.5% + 16.0% - 0.4%
Traditional Lender-Owned Short Sales
23,543
4,890 4,477
18,689
2,261
5,195
19,134
3,064
5,175
9-2008 9-2009 9-2010
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
1 2007 1 2008 1 2009 1 2010
Historical Inventory Traditional
Lender-Owned
Short Sales
- 20.6% + 2.4% - 53.8% + 35.5% + 16.0% - 0.4%
Traditional Lender-Owned Short Sales
23,543
4,890 4,477
18,689
2,261
5,195
19,134
3,064
5,175
9-2008 9-2009 9-2010
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
1-2007 1-2008 1-2009 1-2010
Historical Inventory Traditional
Lender-Owned
Short Sales
- 20.6% + 2.4% - 53.8% + 35.5% + 16.0% - 0.4%
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 8

9. Foreclosures and Short Sales in the Twin Cities
M th S l f I t
September 2010
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union 9
Months Supply of Inventory
27.5
9-2008 9-2009 9-2010
10.1
6.7
27.5
9.2
18.0
9.6
13.9
9-2008 9-2009 9-2010
Traditional Lender-Owned Short Sales
10.1
6.7
27.5
9.2
1.6
18.0
9.6
3.3
13.9
9-2008 9-2009 9-2010
- 9.0% + 4.7% - 75.7% + 104.5% - 34.7% - 22.4%
Traditional Lender-Owned Short Sales
10.1
6.7
27.5
9.2
1.6
18.0
9.6
3.3
13.9
9-2008 9-2009 9-2010
50
Historical Months Supply of Inventory Traditional
Lender-Owned
Short Sales
- 9.0% + 4.7% - 75.7% + 104.5% - 34.7% - 22.4%
Traditional Lender-Owned Short Sales
10.1
6.7
27.5
9.2
1.6
18.0
9.6
3.3
13.9
9-2008 9-2009 9-2010
30
40
50
Historical Months Supply of Inventory Traditional
Lender-Owned
Short Sales
- 9.0% + 4.7% - 75.7% + 104.5% - 34.7% - 22.4%
Traditional Lender-Owned Short Sales
10.1
6.7
27.5
9.2
1.6
18.0
9.6
3.3
13.9
9-2008 9-2009 9-2010
0
10
20
30
40
50
1 2007 1 2008 1 2009 1 2010
Historical Months Supply of Inventory Traditional
Lender-Owned
Short Sales
- 9.0% + 4.7% - 75.7% + 104.5% - 34.7% - 22.4%
Traditional Lender-Owned Short Sales
10.1
6.7
27.5
9.2
1.6
18.0
9.6
3.3
13.9
9-2008 9-2009 9-2010
0
10
20
30
40
50
1-2007 1-2008 1-2009 1-2010
Historical Months Supply of Inventory Traditional
Lender-Owned
Short Sales
- 9.0% + 4.7% - 75.7% + 104.5% - 34.7% - 22.4%
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 9

10. Foreclosures and Short Sales in the Twin Cities
September 2010
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union 10
Postscript: Explanation of Methodology
This report relies in part upon the analysis of subjective remarks that REALTORS® employ when listing properties in the Twin Cities Regional Multiple Listing Service, and in part
upon data fields in this same system called “In Foreclosure,” “Bank-Owned” and “Short Sale.” These fields allow users to mark properties that fit within these legal definitions.
A property is a “Lender-Owned Foreclosure” when any of the following rules are met:
• Lender-Owned = “Yes”
• One of the following terms are found in Agent Remarks, Public Remarks or Financial Remarks:
• bank owned
• bank-owned
• bank-owned
• reo
• hud acquire
• hud-acquire
• corporate-owned
• corp owned
• corp. owned
A property is a “Short Sale” when any of the following rules are met:
• Short Sale = “Yes”
• bank owned
• bank-owned
• bank-owned
• foreclosure
• forclosure
• reo
• hud acquire
• hud-acquire
• hud-acquired
• corporate owned
• corporate-owned
• corp owned
• corp. owned
• corp-owned
• corp owner
• One of the following terms are found in Agent Remarks, Public Remarks or Financial Remarks:
• bank owned
• bank-owned
• bank-owned
• foreclosure
• forclosure
• reo
• hud acquire
• hud-acquire
• hud-acquired
• corporate owned
• corporate-owned
• corp owned
• corp. owned
• corp-owned
• corp owner
• short sale
• shortsale
• short-sale
• in foreclosure
• in forclosure
• preforeclosure
• preforclosure
• bank approv
• lender approve
• subject to bank
• subject to lender
• redemption
• subject to corp
• subj to corp
• 3rd-party approval
• third-party approval
• 3rd party approve
• subject to third
• subject to 3rd
Note: properties containing these specific phrases in the same remark fields are NOT counted in either category:
• bank owned
• bank-owned
• bank-owned
• foreclosure
• forclosure
• reo
• hud acquire
• hud-acquire
• hud-acquired
• corporate owned
• corporate-owned
• corp owned
• corp. owned
• corp-owned
• corp owner
• short sale
• shortsale
• short-sale
• in foreclosure
• in forclosure
• preforeclosure
• preforclosure
• bank approv
• lender approve
• subject to bank
• subject to lender
• redemption
• subject to corp
• subj to corp
• 3rd-party approval
• third-party approval
• 3rd party approve
• subject to third
• subject to 3rd
• not a foreclosure
• not a forclosure
• not a short sale
• not a shortsale
• no short sale
• no shortsale
• tired of short sale
• tired of shortsale
®
• bank owned
• bank-owned
• bank-owned
• foreclosure
• forclosure
• reo
• hud acquire
• hud-acquire
• hud-acquired
• corporate owned
• corporate-owned
• corp owned
• corp. owned
• corp-owned
• corp owner
• short sale
• shortsale
• short-sale
• in foreclosure
• in forclosure
• preforeclosure
• preforclosure
• bank approv
• lender approve
• subject to bank
• subject to lender
• redemption
• subject to corp
• subj to corp
• 3rd-party approval
• third-party approval
• 3rd party approve
• subject to third
• subject to 3rd
• not a foreclosure
• not a forclosure
• no foreclosure
• no forclosure
• not foreclosure
• not forclosure
• not a short sale
• not a shortsale
• not a short-sale
• not short sale
• not shortsale
• not short-sale
• no short sale
• no shortsale
• no short-sale
• not a bank
• not bank
• no bank
• tired of short sale
• tired of shortsale
• tired of short-sale
• tired of foreclosure
• tired of forclosure
The methodology was developed by Aaron Dickinson, REALTOR® with Edina Realty
(www.twincitiesrealestateblog.com) and Jeff Allen, MAAR Research Manager (www.mplsrealtor.com).
© 2010 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 10