Foreclosures in Greensboro (week ending 12/28/08)

There was a drop in foreclosure listings in Greensboro for the week ending 12/28/08.

Christmas meant offices were closed and that surely can be a reason. I guess kicking people out of their homes isn’t everyone’s idea of a great holiday tradition.

But there were fewer foreclosures listed over the last 12 week period compared to those previous. Again, the holidays may be the reason. Could be other factors. As always, I am just trying to give accurate numbers in this morbid weekly watch.

And we watch because, as I’ve written before, until there is less inventory on the market in real estate it will be that much longer before we can start thinking things are turning. And foreclosures, particularly, with the downward influence they have on prices of surrounding homes, are a segment of housing we truly want to see reduced.

So, here you are:

The week’s new foreclosure listings were 4 compared to the previous 11.

And the breakdown for Greensboro’s foreclosure listings during 12/22/08 – 12/28/08*:

Total new foreclosures listed: 4

• single-family: 4
• townhouses:    0
• condos:           0

by Greensboro zip code:

And if we look at those zip codes comparing the most recent 3 weeks:

And here’s where it really looks promising. I’m not holding my breath that it will continue to improve at this rate, but for now it looks better. The numbers for rolling 12 week periods show a decidedly downward trend.

And what about what’s happening to those foreclosures that have come on the market? Are they selling?

Here’s what the numbers tell us:

Of those 148 foreclosures listed in the 12 week period ending 12/28/08, their status are

• Active - 109 (74%)
• Pending – 30 (9%)
• Closed – 9 (6%)

And how do those numbers stack up against the previous rolling 12 week periods? What a good question! Thanks for asking.

So we see that the most recent 12 week period leaves us with more properties still active and fewer closed. That may improve as often real estate closings are piled into the last couple of days of the month. (For and explanation of why this is, keep watching this blog. I’ll be getting into the nuts and bolts of looking, buying and closing in regards to real estate)

For the very visual of us, here are the numbers all graphified:

As always, whether the news is good or bad, you’ll see it here.

If you have questions, comments or a good joke to share shoot me an email.  I’m a full time Realtor®, I love what I do and would be thrilled to hear from you.

* All data from Triad Multiple Listing Service (MLS). BTW, Yeah!!! It’s 2009!!!!!

Tags: Greensboro foreclosures, Greensboro housing statistics, Multiple Listing Service