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The Boston Real Estate BlogI am an independent real estate broker, focused on the residential real estate market in downtown Boston. |
Foreclosures Jump Last Year (from A Reliable Source)
Lots of people throw around statistics.
I am skeptical of most of them (the statistics, not the people).
Regarding foreclosures, I've never trusted the data put out by ForeclosuresMass.com; I'm sorry, but I've just been skeptical of them. I haven't been able to figure out exactly how they calculate their numbers, and I think they double count, somewhere.
The Warren Group, on the other hand, has been in business for a long time, and are very experienced in data collection. They can be relied upon to give up good information.
Petitions to foreclose on Massachusetts homeowners rose nearly 70 percent in 2006, and the number of distressed properties that went to auction increased 46 percent, a report said today.
The report is from The Warren Group of Boston, publisher of Banker & Tradesman and a provider of New England real estate data.
In Suffolk County, which includes Boston, petitions to foreclose jumped 79 percent in 2006, the report said.
Oh, so what do I think about the number of foreclosures?
On a percentage basis, the number of loans going into some stage of foreclosure is still historically low, I believe under 2%, on a national basis. We'll have to wait to see what happens, in the future.
Source: Foreclosure filings up 70 percent in 2006 - By Chris Reidy, The Boston Globe
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1 Comments:
We all going down the hill with this economy. Look today in Reuters that Was spending is more, while domestic spending is cutting off.
Then they going to blame the "bubble". In NJ where I am located, the only signs I read is "for sale by owner", "for rent by owner" , "office space available", and so on.
I am not an economist, but the whole world economy really is going down, but the profits of the Iraq invasion are going up.
This is so sad.
Bur$atil
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