Did you read Sunday’s Statesman column about “Foreclosure problem is far from a crisis”?

February 26, 2008 at 2:13 pm 1 comment


Originally uploaded by thenelsonproject

Columnist Scott Burns was commenting on mortgage foreclosure rates data released by RealtyTrac, a firm that compiles data on home foreclosures.

The report shows some sorry stats in various cities throughout the country but he points out that there is actually some reassuring information in the report. I think the reassuring information is especially poignant for Austin as we remain one of the healthiest real estate markets in the country.

A few of his comments that particularly caught my attention:

… “It tells me, for instance, the foreclosure crisis is a regional problem, not a systemic problem. It could become a systemic problem, of course, but we’re a long way from that.”

… “The news will disappoint the gloom and doom crew and all of those seeking the excitement of financial upheaval.”

… “About 30% of all homes are owned mortgage-free …”

… “The top foreclosure areas in American are areas of extreme price change, changes far from the national average of 46.92% in the past 5 years.”

You can read more of Scott Burns at http://www.scottburns.com/ and you can see the RealtyTrac report at http://www.realtytrac.com/.

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© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2008-2010. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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Entry filed under: Austin, Smart Real Estate. Tags: , , .

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1 Comment Add your own

  • 1. Brevard County FL Real Estate  |  February 27, 2008 at 2:59 pm

    I think there were many areas in US that the homes had a extreme price change from the national average. California, Arizonia, Colorado, Florida.

    It is hit and miss where one area is okay and another not. This is why having a realtor is key and they can best guide someone in the buying or selling process.

    Reply

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© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2016-2020. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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