Your Neighbor's Home Foreclosure Does Af
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Your Neighbor's Home Foreclosure Does Af
| Mon, 06-15-2009 - 11:43am |
This year it is estimated that 69.5 million nearby homes will suffer prices declines as a result of a “neighborhood” foreclosure.

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As far as I
Becky
CL of 4th, 5th & 6th grade Scoliosis
Wow, that's great.
In the Chicagoland area.
Becky
CL of 4th, 5th & 6th grade Scoliosis
My CITY has plenty of foreclosures, but the rural part I'm in wreaks havoc on the assessors. We have a few newer homes mixed in with 100+ year old farm houses (we're in the middle somewhere with a 260k home built in the 1950s). Some are worth 50k and others 600k. They can't get a handle on our area, although we've only had one foreclosure they call "local" to us. It's practically across the street, and had been mortgaged to up to 800k (too much) and when the bank sold it it went for 300k. In the three years since that happened, our home value has continued to rise.
Many of the neighborhoods in our city have taken a big hit, with prices dropping 20-40% across the board.
Sarah
sahm, wahm, homeschooling mom to
Maybe I am lucky to be living smack dab in the middle of student housing for our local university!
My DH and I just bought our first home last October. We live in Massachusetts
We are in Michigan, land of the 20% unemployment rate.
What is the source of those statistics on education and unemployment rate?
To be completely honest, Marie, I know sometimes we do not see eye to eye, but I am 100% with you on education.
Wow, sounds like a diverse area you live in.
Stats are from the University of Michigan Economic study - they are the same people who conduct the Consumer Confidence study and are underwritten by Reuters.
I was at a conference last week and saw the Economic presentation through May of 2009 in person.
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