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State of the Columbia Housing Market
I went to a great presentation this week given by Jeff McClellan of First National Bank here in Columbia, MO.  He spoke a great deal regarding the national economy and the Columbia economy.  As we know, the national news media reports about how terrible and devestating the real estate market it and that it has been the downfall of the financial markets.  What we do know is that real estate is local, so yes, there are areas of this country that have been very very hard hit by the devaluation of homes and increased foreclosure rates. 
 
So what is going on in the Columbia housing market?  Well, regarding foreclosures...  forclosures are up from last year by about 34%.  Boy that sounds like a horrible number.  But the foreclosure rate in Boone County is actually only about 1/2% of all homes, as opposed to 7% in Ft. Myers FL which reports one of the highest foreclosure rates in the country.  So that is great news actually.  Only 1/2% of homes are in foreclosure.  Though if you are looking for a market with great foreclosure deals Boone County may not be the one you want to try.
 
What is some other ... more

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