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Tri-Cities Foreclosures are Down (That’s Good)

By in Mortgages with 0 Comments

downI saw an alarming statistic the other day. Foreclosures are up nationwide. The headline is a bit misleading, though – it’s the largest jump in five years. They’ve only been tracking it for five years, so it’s not as dire as the headline makes it sound! But you cannot argue with the math taken from the linked-to article above-

…the number of U.S. homes taken over by banks jumped 35 percent in the first quarter from a year ago. In addition, households facing foreclosure grew 16 percent in the same period and 7 percent from the last three months of 2009.

Ouch.

What about Tri-Cities Foreclosures?

In the last quarter of 2009, we had 124 Notice of Trustee Sales issued. The first quarter of this year we had 176. That’s a 40% increase. Sounds awful, doesn’t it?

Compare it, however, to the first quarter of 2009, when we saw 259 Notice of Trustee Sales issued in the Tri-Cities. The first quarter of 2010 saw a 33% DECREASE compared to the year before. The last quarter of 2009 saw a 39% DECREASE from the same period in 2008 (201 Trustee Sales). So, while it looks like we’re following the nation in this wave of foreclosures, we’re actually gaining some ground and doing better than we had in years past. Good to know!

Data used in this post is courtesy of the Benton Franklin Title Market Report, distributed monthly.

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About The Author
Cari McGee

My husband and I came to the Tri-Cities in 1994, and we thought it would be a temporary stop on our way to larger cities. He was a television sports anchor at the time, and we planned to go wherever the "next step up" took us. Twenty-plus years later, we're still here and we've loved every minute of it! We have two children now, and we've found the Tri-Cities area is a wonderful place to raise a family. It's a great place to do outdoorsy things -- I like to hike Badger Mountain or run along the river path. I also love reading ... by a cozy fire in the winter or a beautiful picture window in the summer (with the A/C on!). I've been a licensed Realtor since 2004. I earned my managing broker's license in 2016, which means I can run my own brokerage, or create a team of real estate agents and supervise them, which is exactly what I did when I formed the Cari McGee Real Estate Team in 2018! We have administrative and marketing personnel, as well as additional agents to serve you. I became a director of the Tri-Cities Association of Realtors Board of Directors in 2016, became Secretary/Treasurer of the organization, and was elected to Vice President in 2019. Want to talk about real estate? Click here to schedule a meeting with me!

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