Northwest Mississippi Foreclosure Market Report - March 2009

By
Real Estate Agent with Bob Leigh & Assoc., LLC

Northwest Mississippi Foreclosure Market Report
by Pam Simpson
The Kudzu Vine

Desoto County MS
Tate County MS
Panola County MS
Marshall County MS

For the week ending 3/6/2009, there were 19 foreclosures added to the Northwest MS MLS.  There were 24 price reductions in existing foreclosures and 19 went under contract.

Here is a chart showing the Foreclosure Activity in the 4-county area since March of 2008:

Chart showing NW MS Foreclosure

About 6.9% of the active listings in the Northwest MS market are foreclosures (including HUDs, REO, VA, Fannie Mae).  That is a drop from 8.2% back in January.  Here is a breakdown of the foreclosure market by community:

Foreclosures in NW MS by community

Olive Branch contines to see the most foreclosure activity, but Southaven is a close second.  Since Olive Branch and Southaven are desireable communities to live in, many of the well-priced foreclosures in good shape receive multiple offers and are sold pretty quickly.

For comparisions to previous numbers, see the last NW MS Foreclosure Market Report compiled in January 2009.

More current market reports:

February 2009 Market Report for Olive Branch

February 2009 Market Report for Hernando

February 2009 Market Report for Tate County

If you are considering purchasing a HUD home in Northwest Mississippi, please read this HUD Home FAQ.

Related Articles:

So You've Found A Fixer-Upper

HUD Homes For $100 Down

5 Surefire Ways To Let That Foreclosure Slip Through Your Hands

_________________________________________________________________________________________________

About the author:
 
Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2009 by Pam Simpson.  All rights reserved...***Northwest Mississippi Foreclosure Market Report - March 2009***

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFOTate County Community, Memphis Community, Southaven Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

REALTOR STUFF:  NAR, Real Estate and Media, Real Estate Agents

OTHER:  Rural Life, Breast Cancer Awareness, Angel Food Ministries, Property Rights, Auctions

 Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.

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Topic:
Real Estate Market Trends
Location:
Mississippi
Groups:
Mississippi Real Estate Professionals
North Mississippi Community Forum
Posts to Localism
Tags:
northwest mississippi
foreclosure
market report
hud homes
reo
va
fannie mae
foreclosure report

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Rainmaker
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Pam Simpson

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Additional Information

Senatobia real estate, Tate County real estate, Hernando real estate, Desoto county real estate, HUD Homes, REO