So in going thru the Boston Globe I come across this article about Foreclosures in Massachusetts.
Can you figure out what the Headline would be with the following quotes:
- ...the number of foreclosures initiated by lenders in Massachusetts dropped in November.
- "... The modest decline in petitions could indicate that an improving employment picture is leading to fewer mortgage delinquencies."
- ...year-to-date foreclosure deeds are down.
- ...down nearly 35 percent from 11,752 deeds recorded during the same period in 2010.
- ...indicating that lenders have improved their ability to process foreclosure paperwork after a slowdown over the past 12 months"
- The number of completed foreclosures in Massachusetts jumped more than 70 percent in November.
Sounds to me like the only "negative" portion of this article is the last one. But D.C. Denison decided to use the following as the headline:
Foreclosures up 71% in Mass. in Nov.
So even though the reporter used the attention grabbing headline to give newspaper browsers the impression that the foreclosure market is still extremely painful in Massachusetts, almost everything in the article is viewed by professionals in the industry as positive.
Completed foreclosures, which jumped in November compared with Nov 2010, displayed success in the banks at finally concluding the inevitable process of taking property that may have been empty for months! We all know of homes that have looked empty and unkept for the past year, wondering when it was going to be marketed. This is that housing stock.
In the Metrowest Boston area, we have a huge lack of inventory. I have several clients waiting for new listings to come onto the market. Now is the time to get these properties onto the market so that interested buyers can pull the trigger.
Unfortunately, the majority of these foreclosure properties are found in the hardest hit and most urban of communities. It is a small percentage of these 7,685 foreclosures in 2011 that can be found in suburban towns which I serve.
D.C. Denison, you are not helping in giving the public the accurate soundbites to get this marketplace on the right track. You had an opportunity to spin it positively with all the good news in the piece, so please do so next time... do MA a favor!