Market Conditions in 02115>Question Details

Rosielograsso, Other/Just Looking in 02115

How have the foreclosure ratings been effected by the current economic crisis? What has been the trend over the past five years?

Asked by Rosielograsso, 02115 Thu Apr 7, 2011

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Tean Wong’s answer
Number of foreclosure filed drop 27% compare to last year, I assumes that the number will continue to drop. In Mass., the over all economy is still better than the rest of the country, especially in the town I work; Newton, Brookline, Wellesley.
0 votes Thank Flag Link Fri Apr 15, 2011
Hi Rosie,
A lot. Of course nationwide this has been one of the biggest problems we’ve been going through. But again, as you know, the most important factor in real estate is location. So not all areas in the nation have been affect equally. Even within a city’s area some locations suffered more or less than others.
Going forward it can be assumed that there will be less and less foreclosures due to the current economic crisis as we all seem to be recovering from it. Then there will only be the “normal” foreclosures due to death, divorce, hardship, delinquency and other people’s personal problems. As sad as it is there has always been foreclosures and people lose their homes.
0 votes Thank Flag Link Sat Apr 9, 2011
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