Foreclosure market dying down for some

“10 States Hit Hard By Foreclosures
By Chris Persaud of Bankrate.com
Live in one of the 10 states featured in this slide show? RealtyTrac, a California-based firm that tracks foreclosures, compiled a list of states with the highest rates of foreclosure in November. Nationally, one in every 1,155 housing units received a foreclosure filing in November — down from a rate of one in 978 in October. Click through to see if your state made the list.”

ForeclosureI was reading an article on MSN’s internet news page this morning regarding foreclosures. The 10 hardest-hit states for foreclosure was an interesting read. Some not so surprising, like Florida, they have really suffered economical set backs for quite some time. Others were more surprising to me, like Utah. I have a Realtor friend in Utah and got her take on the matter. Here is a quote from Realtor Kaye Cundick with Chapman Richards Real Estate, “We have had many short sales over the last few years but it’s starting to slow down in that area and the market has gotten better. Last year was a great year and we plan on it being even better this year. – Kaye”

California is not on the list of the 10 worst states currently. I’d say I agree with that, there has been a definite shift. I was more than surprised to discover mountain-wide there are only seven foreclosures active in our MLS right now. This is great news for buyers and sellers. The market is a lot more stable when you take foreclosures out of the equation.

2014 seems to be a year of continued improvement in our market. If you’d like to come up to take a look at properties in our beautiful community, I’d love to meet with you. 909.838.8715 or jhgalligan@msn.com

To read the rest of the article, click here.

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