Big Lake MN Bank Owned Homes

Search Bank Owned Homes in Big Lake MN

Search Bank Owned Homes in Big Lake MN


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Big Lake, MN has been a hot bed for foreclosure homes over the past several years.  The city of Big Lake was built up super fast from about 1998 to 2006 and then the market crashed and many of the homes have been foreclosures and sold multiple times.

The shores of lake Mitchell neighborhood probably was hit the hardest over time.  Many of these homes at the top of the market were over $200k for a 4 BR 2BA split entry home.  When the market bottomed out in 2011 the homes were selling for about $100k.

Big Lake MN Bank Owned Home Market Update

The market has been improving and overall your probably going to be paying about $150k and higher for 4BR 2BA split entry home in 2014. At the time of this post there are about 20 bank owned listings for sale in Big Lake MN.  Three of the listings are over $200k, and several of them are around $150k with a few closer to the $100k price range.

In 2013 there were about 90 closed sales in Big Lake that were bank owned homes. Only a handful of those sale were over $200k.   13 of the sale were below $100k and the bulk of the sales were between $100k-$150k.

Big Lake will still have a good portion of the sales in 2014 be bank owned sales. However has we head into Spring these homes will sell fast.  New construction starter homes in Big Lake are now starting at close to $175k making these lender owned homes in Big Lake still a great bargain for buyers.

To take a look at any of the Big Lake MN Bank Owned homes contact Chuck Carstensen with RE/MAX Results at 612-290-3809 or