There was one more foreclosure listed in Greensboro during the week ending 2/15/09 than the previous week. But again – and I see this as very good news – the number of foreclosed properties that have been listed since early December which are still available is the lowest its been. This is by both actual number and percentage. And those that are “pending” (under contract and set to close) are the highest.
Not only that, but the total number listed by 12-week rolling periods is 153 for this period. This is the lowest that number has been since the 12-week period ending 12/28/08. (see 1st chart below)
We know that foreclosures in North Carolina in general are down. And we’ve been trending this way for a few weeks.
There are those who poo-poo the improved numbers by pointing out there is a moratorium on foreclosures by some lenders. “The numbers are lower just because the foreclosures have stopped for a while. Not because things are actually improving.”
Ay yay yay! Isn’ t that like saying “The only reason the fire went out is because someone poured water on it?”
Who the devil cares why? The folks who are not facing foreclosure this month or next aren’t going to be complaining about why. The neighbors of those homeowners aren’t going to be picky about why the house next door doesn’t have the dreaded large white sticker on the front door, bringing their property value down.
So, why is this happening? My sense, based on the activity I’m seeing in my personal business, is that there is some increased interest on the part of buyers and banks holding off for now are both reasons. Not only that, but Greensboro simply is going to recovery sooner than other parts of the country.
You can see foreclosure listing activity by Greensboro zip codes specifically below . Looks like 27408 has had a good month or so…
As always, whether the news is good or bad, you’ll see it here.
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* All data from Triad Multiple Listing Service (MLS). Weekly fluctuations of the numbers can happen as the data is impacted by the promptness of input by members, properties that are temporarily withdrawn from the market, etc.,
