Foreclosure Crisis: More than half-way through in Twin Cities

I just downloaded and began reading this insightful article on the foreclosure crisis.  The headline stopped me in my tracks since it says we as a country have “a long way to go” in the foreclosure crisis.

If there is one thing I’ve learned in both real estate and my background as an analyst is that it is important to know when to peel back the data and decide what is relevant to my audience.

Hello Twin Cities – The report provides city data on page 41 of the report.

In our market a higher percent have already Completed Foreclosures as of Feb 2011 – 8.8% of total; and those who are defined as Seriously Delinquent borrowers as of Feb 2011 represent 5.8% of borrowers.  Our numbers are close to the inverse of the national average.

With this in mind we as a metro area are seeing % of foreclosures vs. the overall market trending down.  With fewer foreclosures putting downward pressure on home values the likelihood of foreclosure also goes down.

Select link below to read entire article

Foreclosure Crisis: Still a Long Way to Go, Study Says | Realtor Magazine.

About Ingrid Friel, Realtor, GRI, MBA

Enthusiastic, knowledgeable and patient realtor specializing in the Twin Cities downtown and nearby residential properties. Experienced with first time and repeat buyers. Excellent technical skills that help you do the first pass of your search online. My top priority is to find you the best fit for your criteria when searching for your next home. When representing sellers I work collaboratively to get your house ready to list and stay in close communication throughout the selling process. We call Eden Prairie home & love to chat about everything local with anyone interested.
This entry was posted in Bank (lender) owned, Buyers, Real Estate, Sellers and tagged . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s