For all of you interested in the foreclosure trends in the areas that I service, which includes the real estate markets of Lake Oroville, Paradise, Chico, Yuba City, Marysville, and Tehama and Glenn counties, here are the latest stats as compiled by ForeclosureRadar.com
These one year charts show that an interesting long term trend has begun to develop that we have not heard too much about in the media. These charts are beginning to show significant reductions in the number of foreclosures filings taking place. Although the charts are a little roller-coaster-like when looking at the monthly numbers, the overall trend is slowly working its way down.
To be sure, we are certainly not out of the woods by any stretch of the imagination when it comse to the impact foreclosures are having on the overall value of the home across the state. It is encouraging to see that the long term trend is beginning to head south ever so slightly. Will it stay down? That is hard to say given the recent events with the foolishness surrounding the debt ceiling, stock market gyrations, and the fact that consumers have a general feeling of despair when it comes to the current economic climate in which we find ourselves. What I do know is that with the media so focused on the incompetence in Washington, D.C. there is a good chance that this news will not be considered important enough to share, simply because it is not “dramatic” enough.
On this blog site we take the drama out of the market and replace it with just the facts so you can decide for yourself what is happening.
I have placed links at the bottom of this posting for each area of the real estate market I service. Click on whichever area in which you are interested in seeing.