NORTHWEST MISSISSIPPI FORECLOSURE MARKET REPORT

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Real Estate Agent with Bob Leigh & Assoc., LLC

Northwest Mississippi Foreclosure Market Report
by Pam Simpson, Broker-Assoc.
The Kudzu Vine

Desoto County
Tate County
Panola County
Marshall County

For the week ending 9/19/2008, there were 17 new foreclosure homes added, 12 price reductions, and 12 went under contract.

Here is a chart showing the Foreclosure Activity in the 4-county area since mid-March to present:

Foreclosure Activity chart

About 5.4 % of the active listings in the Northwest Mississippi market are foreclosures.  Here is a breakdown of the foreclosure market by community:

Pie Chart

The most active area for foreclosure activity continues to be Olive Branch.  It has been my experience that many foreclosure sellers are now pricing their homes under market value to generate multiple offers.  And it is working.  Many of the Olive Branch foreclosure homes have multiple offers within 2-3 days of listing.

If you are considering purchasing a forelcosure home in Northwest Mississippi, especially a HUD home, please read this HUD Home FAQ.

Tate County Market Report

Hernando Mississippi Market Report

*Numbers taken from NWMAR MLS and believed accurate but not guaranteed.

Pam Simpson, Broker-Assoc.
www.MShomeinfo.com

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Rainmaker
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Debbie DiFonzo
Debbie DiFonzo - United Country VIP Realty, SW Missouri - Lebanon, MO
Lebanon MO and Buffalo Missouri Real Estate

This is a great twist on a market report, Pam. Very interesting information and stats. I've never broke down our MLS listing inventory by foreclosure numbers.

Nov 01, 2008 12:47 PM #1
Rainmaker
116,152
Pam Simpson
Bob Leigh & Assoc., LLC - Senatobia, MS
GRI, Broker-Assoc.

Thanks, Debbie.  I keep up with the foreclosures in my market on a weekly basis.  I decided to start keying the numbers into a spreadsheet to spot any trends.  I usually get it all together to do a report every 6-9 weeks.

Nov 01, 2008 01:24 PM #2
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Rainmaker
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Pam Simpson

GRI, Broker-Assoc.
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