Anna's Blog

November 26th, 2007 12:27 PM

Every time I open up the newspaper or log on to my favorite news websites, I see the word “foreclosure” all over the place! This is certainly the hot news item these days, but make sure you know the facts before you get too worried.

First of all, every market is different and you need to look at the local numbers, not just the national picture. Yes, the foreclosure rate is up, but it is only one small piece of the real estate puzzle. The states where foreclosures are increasing the most are California, Florida, Nevada & Arizona and these states are skewing the national averages.

In Dane County, there was one foreclosure for every 1965 households. This is well under the national rate of one for every 510 homes. Madison and Dane County have enjoyed a stable market for many years, with low unemployment rates, steady (not outrageous) increases in property values and a strong economy. So we are very lucky to be here in Madison!

Posted by Anna Trull on November 26th, 2007 12:27 PMPost a Comment (0)

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