Northwest MS Foreclosure Activity Report - Spring 2010

By
Real Estate Agent with Bob Leigh & Assoc., LLC

Northwest MS Foreclosure Activity Report - Spring 2010

Northwest MS Foreclosure Activity

Each week, I keep up with how many new foreclosures go up for sale and how many went under contract in my market area of Northwest MS.  The above chart shows the recent activity from September of last year to the present.  For the past several weeks, there have been more homes go under contract than ones being placed up for sale, reducing the inventory of foreclosures on the market.

Foreclosures in Northwest MS have been out-pacing non-distress sales for quite some time.

Foreclosures as a percent of Active Listings

Foreclosures as a percent of sales

Once again, Olive Branch MS has the highest number of foreclosures; however, this Northwest MS town also is one of the most populated cities in our area so this is expected.

Desoto County MS and Tate County MS foreclosures
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About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2010 by Pam Simpson.  All rights reserved.

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates,
First Time Homebuyer Guide

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

REALTOR STUFF:  NAR, Real Estate and Media, Real Estate Agents

OTHER:  Rural Life, Breast Cancer Awareness, Angel Food Ministries, Property Rights, Auctions

 Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.

 

 

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Rainmaker
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M. Suzi Woods (Gravenstuk)
NOW Sharing the life and spice of the GC one day at a time - Grand Canyon, AZ
Suzi Woods, Prior Independent REBroker in MS

Pam, great information as always. Do you have any predictions for this quarter?

Apr 09, 2010 02:04 AM #1
Rainmaker
116,152
Pam Simpson
Bob Leigh & Assoc., LLC - Senatobia, MS
GRI, Broker-Assoc.

Suzi - thanks for your comments.  It looks like we will see a nice increase in sales until the end of June over this time last year.  My broker says our company sales have increased 20% in the first 3 months of this year compared to 2009.  BUT...our sales have been almost entirely tax credit driven (1st time homebuyers) and we use USDA loans quite a bit in this area.  I forsee a drop in sales if Congress does not fund USDA past the end of this month when the money is expected to dry up.

How are things down at the other end of the state?

Apr 09, 2010 07:33 AM #2
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Rainmaker
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Pam Simpson

GRI, Broker-Assoc.
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