Monday, November 19, 2012

Foreclosure Rates In Crow Wing County See Slight Decrease Over Last Year

The foreclosure rate in Crow Wing County for the month of October were nearly identical to that of last year and decreased slightly. There were a reported 22 foreclosures in October for Crow Wing County, which was a small increase over the 19 reported foreclosures in September.

In 2011 we had a total of 28 foreclosures in the county and 52 properties pending foreclosure, which is slightly higher than what we saw this year. October of this year we had 22 foreclosure and 42 pending foreclosure. The numbers for this year are far better than October of 2010 when there were 45 foreclosures and 40 more pending. Overall the pending foreclosures in the pipeline are lower than we had in 2010 showing a marked improvement in the housing market.

To date this year we have had 235 foreclosures in Crow Wing County. At this point in time last year there were a total of 318 foreclosures. It is easy to see by these numbers that overall there are less foreclosures this year over last. 2011 ended with a total of 369 foreclosures. The highest number the county ever saw occurred in 2010 with 388 properties being lost to foreclosure.

As foreclosure rates decrease home prices will continue to increase and the housing market will continue its recovery. Now is the perfect time to buy a home while home prices remain low and mortgage interest rates have once again reached a new historic low.

If you are looking to buy or sell a home in the Brainerd area,  contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

Bill Grunewald/ Edina Realty.
Licensed in Minnesota/ Lic # 20204156