What percentage of Schaumburg Homes are foreclosures?
When we look at foreclosure numbers that perhaps we have heard or seen on the news, often times they are for trends that are national in scope. We always have to sharpen our focus and whittle down those statistics to the state level, then by metro area, then finally by the town itself. Don't pay attention to the media which is great for over dramatizing news especially when it comes to the housing market and foreclosures. Granted, there are some very hard hit areas of the country and we are fortunate here not to be one of those areas which I hope you realize. Real estate is local in nature so let's take a look at what is happening in Schaumburg:
Let's look at the total of Schaumburg Homes sold (249) and then what percentage of those closed were foreclosures. Our MLS has us report each foreclosure, short sale and court sale just for these purposes and these are accurate numbers from 2011.
The lowest foreclosure price was $100,000 and the highest was $441,000. Foreclosures were 14% of Schaumburg Homes that have closed. In an earlier report for the 1st quarter of 2011, they were at 20%. Townhome and condo sales were not done at that time but I have included them in this report.
| Town of Schaumburg |
Total Sales for
2011 |
% of
those Sales |
| Home Sales |
246 |
14% |
Townhome/Condo
Sales
|
403 |
22% |
So there are the results for our Schaumburg area. Hope that makes you feel better and if you are thinking of selling your home in the near future, please don't hesitate in giving me a call.
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Lyn - It appears that Schaumburg is in much better shape than some areas--like much of metro Atlanta. A lower percentage of foreclosures definitely helps maintain pricing and is often an indication of stronger sales.