Zimmerman MN Bank Owned Homes

Find bank owned homes in Zimmerman MN

Find bank owned homes in Zimmerman MN


Search for Bank Owned Homes For Sale in Zimmerman MN!

Zimmerman MN is located just 10 miles north of Elk River off of HWy 169.  This makes it a hot spot for buyers looking for affordable properties. Some of the most affordable homes for sale in Zimmerman are its bank owned listings.

Another draw to the area are the acreage properties and the lake front homes for sale. Zimmerman offers both acreage and lake front bank owned deals for sale.  On the outside area of Zimmerman are townships such as Baldwin Twp and Orrock Twp and Livonia Twp.  These are the areas where you will find the acreage foreclosure homes for sale in Zimmerman.

Lake Freemont, Blue Lake, Lake Dianne and Elk Lake are the lakes you will often find cheap foreclosures homes for sale on or near.

Zimmerman Bank Owned Home Market Update

In 2013 Zimmerman Area had almost 90 closed homes that were bank owned sales. The amazing thing is that 35 of those sales were below $100k. Buyers who purchase Zimmerman bank owned homes in 2013 should enjoy great equity with those numbers.  Most of the other sale where in between $100-$150k.  Most of the buyers of Zimmerman foreclosures were first time buyers and some of these sale were investor buyers.

With homes renting between $1200-$1500 on 3-4Br homes, investment buyers of these homes enjoy good cash flow on their investment purchase.

There are only about 10 bank owned homes active on the market at the time of this post.  The market has improved and that has caused the sale prices on Zimmerman foreclosure homes to rise about 20% over the last 12 months. The market will continue to improve in 2014 but the appreciation should be slower.  However, the lack of bank owned inventory will keep prices going up!

To find your Zimmerman bank owned home contact Chuck Carstensen at RE/MAX Results at 612-290-3809 or chuck.carstensen@results.net.