It’s been a while since I’ve pulled foreclosure statistics for Greensboro. Frankly, I’ve gotten rather busy – listing foreclosures, ironically. The Fannie Mae properties I list, along with the ‘civilian’ buyers and sellers with whom I work, have kept me hopping. But it has seemed over the last few weeks that the Fannie Mae pipeline has slowed a bit. This got me wondering about foreclosure listings in general in Greensboro. So, back to my data mining and spreadsheets I went.
Here’s what I found:
In the last couple of months, foreclosure listings in Greensboro have indeed slowed up. The number of foreclosures listed in the 9 residential Greensboro codes over the last 12 weeks has been 91. That is LOW compared to what’s been going on since I started tracking this data in 2008. Really low.
The same week last year the 12 week running total was 160. The year before that, 131.
The downward trend has been fairly steady since Spring, witnessed by this graphic:
And the listings are down not only by raw numbers but also by the percentage of overall listings. For some time the percentage of foreclosures in relation to all listings has been about 12% – 15% at any given time. The last six weeks the percentage has averaged 7%.
The week ending July 31, 2001 had only 2 foreclosure listings. Two?! That’s awesome.
Right?
Being a generally optimistic person, my recent receipt of a button that reads “Moody Bitch” notwithstanding, I’d like to think our trip on this awful roller coaster ride is coming to a close. But being optimistic doesn’t mean being naive. Almost certainly we’re going to to have another wave of foreclosed properties coming on the market.
A quick check of tax records show that there have been 15 foreclosures posted in these zips in just the last 4 weeks that aren’t on the market yet. And that isn’t including properties where “notices of default” have been filed but where foreclosures haven’t been finalized.
The numbers may be down due to several factors, the least of which is that the sheer volume of properties has overwhelmed the banks. There are only so many reps to handle the process – now that the robo signers have been laid off…
Still, a breather from the grim parade of distressed properties is welcome.
Here are the rest of the graphics. I guess you’ll be able to tell when foreclosure listings pick back up when I don’t have time to post about foreclosure listings!
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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) as of October 30, 2010, and is only as good as the information entered, which is done by humans, who make errors. The information is only for those residential zip codes for Greensboro and does not include the surrounding communities.
