FORECLOSURE PICTURE IMPROVING—FOR SOME

An article in today’s RISMedia, a real estate newsletter, quotes a RealtyTrac  mid-year report that states that foreclosure starts are at a 10 year low. That is really good news for everyone who is invested in residential property. Not only do foreclosures have a very negative impact on the people who are living through them, but also on the value of homes in the entire neighborhood and the economy as a whole. The bad news is that repossessions by banks, which is the end of the foreclosure process, are still 37% above the number which occurred prior to the real estate crisis which began in 2006. So the result is a lot of people are still suffering the tremendous losses incurred from 2006 to 2012 and we still have a ways to go before the real estate market is completely healthy. But there is a light at the end of the tunnel. To see an in depth analysis of the current situation go to the Real Estate News tab of my web site, mnhomesbydave.com to read the entire article. Thanks for reading.

David Feerhusen

David Feerhusen

Broker/Realtor, CDPE, GRI, CRB
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