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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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). 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the numbers can happen as the data is impacted by the promptness of input by members, properties that are temporarily withdrawn from the market, etc.,

Here’s the weekly update on new foreclosures that have come on the market in Greensboro. As in previous posts, the information is drilled down to zip code, property type and weekly historical data

The numbers stayed relatively flat comparing the week’s new foreclosure listings (11) to the previous (10). But keep reading for some GOOD NEWS.

Here’s how it breaks down…

For Greensboro’s foreclosure listings during 12/15/08 – 12/21/08*:

Total new foreclosures listed: 11

• single-family: 9
• townhouses:    0
• condos:           2

by Greensboro zip code:

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

The aforementioned good news comes when we compare “rolling 12 week periods”. The numbers for those 12 week periods show a downward trend.

Could this be a result of the holidays? Maybe, but unlikely. Misery doesn’t take holidays.

Could this be a result of a foreclosure moratorium?  (Several of the large banks advised they would halt foreclosure proceedings on homeowners in specific circumstances into January 2009)

Again, maybe. It’s hard to know how many of those owners fall under requirements set out by those lenders.

Frankly, it doesn’t matter why. If it is a result of the moratorium, great. It’s helping the inventory situation, which helps all sellers, as well as helping those borrowers who have a reprieve from foreclosure.

If the reduction in the number is just the natural result of what is inevitable – that is, that the housing market will reach ‘bottom’ and start turning upwards from there – even better. That may be wishful thinking, but I’m a positive type of gal.

Time will tell. Keep checking back with this blog and we’ll see whether I’m a cock-eyed optimist, or just cock-eyed.

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)