Dane County foreclosures increase for the 6th time in 7 months

By
Real Estate Agent with Keller Williams Realty, Madison, Wisconsin

Dane County foreclosures increased again in July, for the 6th time in the last 7 months. July foreclosure filings increased by 27.8% from the number of filings registered in July of 2011, according to data maintained by the Wisconsin Circuit Court. A total of 115 new foreclosures were filed in July compared to 90 filings a year ago.

The graph below shows foreclosures continue to trend along historically high levels.

 

Foreclosures in 2012 are currently ahead of last year's by pace by 11.5%.

For our full Dane County foreclosure report, please see the new foreclosures menu at DaneCountyMarket.com . Our report also has information on foreclosure filings for the State of Wisconsin.

If you are interested in buying a foreclosed home, please see these 5 foreclosure search tools, also on our foreclosures menu.

Dan Miller, Realtor, Keller Williams Realty and DaneCountyMarket.com

www.HowWeHelpYouSell.com

www.HowWeHelpYouBuy.com

www.OurRecentSales.com

www.SearchDaneCounty.com

www.DaneCountyForeclosureSearch.com

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Rainmaker
891,836
Michael Setunsky
Michael's Commercial LLC - Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Dan, that isn't very good news for your area. Is this due to the shadow inventory?

August 19, 2012 05:58 AM #1
Rainmaker
1,208,142
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

This may be the triggering of the appropriate and much used statement...things get worse before they get better...good post

August 19, 2012 07:34 AM #2
Ambassador
1,010,201
Harry F. D'Elia
Precision Real Estate Inc. - Phoenix, AZ
Investor , Mentor, CSSN, Radio Coach, REOs, ABR

Knowing the local numbers does make a difference when in real estate.

August 19, 2012 08:18 AM #3
Rainmaker
496,269
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

Tooooooooo bad.   Maybe those Madison banks should start settling short sales and stop it from going all out foreclosure.  The numbers don't make for good publicity.  (we're from Racine)

August 19, 2012 11:42 AM #4
Rainmaker
291,221
Dan Miller
Keller Williams Realty, Madison, Wisconsin - Madison, WI

Hi all, thanks for your comments...These numbers are pretty representative of what's going on in other markets as well. After the robo-signing scandal was resolved, banks are now processing foreclosures again.

Thanks and take care,

Dan

August 20, 2012 03:29 AM #5
Rainmaker
280,308
Terkel Sørensen
Real Estate Places - Temecula, CA
Realtor, 951.805.0773 , Bank owned and Short Sales

Hey Dan,

That' snot good news - oddly - over on our coast, there is no inventory to be had and buyers are falling over each other to get a house... 

This brings me to ask you - how is the market in Madison? A friend of our family has had her house on the market for a while I guess - on Realtor #2 now and no offers... Standard sale too. I don't know much about the property, location etc, but I guess she has had over 50 showings and no offers. Woud love to hear your input. 

August 24, 2012 06:14 PM #6
Rainmaker
291,221
Dan Miller
Keller Williams Realty, Madison, Wisconsin - Madison, WI

Hi Terkel,

Thank you for your email...The market in Madison is quite good in many ways. My real estate team is having its best year ever. Home sales are up a lot. Inventory is down by quite a bit, so we're seeing prices rise in many neighborhoods. Here are a couple of quick summaries for our market:

http://www.danecountymarket.com/market2.jsp?articleid=1145

http://www.danecountymarket.com/article.jsp?id=354

If your friends ends up looking at other approaches, you may try sending them to www.HowWeHelpYouSell.com. This web page provides a good description of our marketing plan.

Have a great day!

Dan

August 25, 2012 05:13 AM #7
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Dan Miller

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