Wouldn't You Like To Know How Healthy The Banks Are In Your Neighborhood?

By
Real Estate Agent with Allen Tate Realtors Chapel Hill, NC 919-819-8199

We keep hearing there are more foreclosures coming and it's just common sense that those bad loans will affect our marketplaces.

If you could see what percentage of these troubled assets your local banks or credit unions own relative to their capital and loan loss reserves and relative to the county as a whole, would you want to know?

Bank Debt by State from msnbc.com

 

The BANKTRACKER UPDATE was launched 16 September 2009 by The Investigative Reporting Workshop, a part of The American University School of Communication in cooperation with MSNBC.

The search tool these talented investigative journalists have built is intended to allow the public to see graphically the percentage of troubled assets owned by any bank or credit union in the United States. Pretty interesting stuff. According to the BankTracker Methodology, The FDIC requires banks and the NCUA requires credit unions to submit certain data quarterly and these are all public information. The workshop members have extracted and organized certain data points and organized them into this easy to use tool.

There are a few caveats and explanations about this data which I recommend you read before jumping to any conclusions about what this data shows but still, it is window into the operations of your bank that would have been tough to find on your own until this tool was developed!

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SarahGray Lamm is a licensed, full time, residential real estate professional in the Triangle area of North Carolina with over 100,000 hours of experience. She specializes in serving the real estate needs of home sellers, home buyers and investors in Chapel Hill, Carrboro, Durham and Northern Chatham County and is proudly associated with Allen Tate Realtors, the Carolinas #1 independent realty company.

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Disclaimer: Comments and contributions via ActiveRain.com (or other electronic or print media) do not establish an agency relationship with any third party. Blog posts are intended to be informational only. Please be advised that real estate practices vary by region, from state to state and from market to market. The information contained herein does not constitute legal advice. All parties in need of legal, accounting, tax, or real estate guidance are directed to consult with the licensed professional of their choice. Please seek specific guidance from a retained professional in the specific field(s) required to service your interests.

 

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Rainmaker
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Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

This would be good information to have.  Thanks,

Sep 27, 2009 02:54 AM #1
Rainmaker
786,877
Mike Jaquish
Realty Arts - Cary, NC
919-880-2769 Cary, NC, Real Estate

SarahGray,

Without delving into methodology, caveats, or explainations, one thing is clear from the map.

Real estate markets are LOCAL!

Sep 27, 2009 10:51 AM #2
Rainmaker
671,751
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

SarahGray, This is interesting info that I didn't know was available. Thanks for sharing it!  I am going to have to take some time to really look at it.

Sep 28, 2009 01:45 AM #3
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Rainmaker
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SarahGray Lamm

Realtor - 100K Hours of NC Real Estate Experience
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