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News » Local market not seeing as many foreclosures
Feb. 3, 2010
A national report found that some people are walking away from their mortgage because the value of their home is less than 75 percent of the mortgage. The study says that's a big reason the number of foreclosures went up.
Chuck Peeters is the president of the Realtors of Northeast Wisconsin says that isn't happening here, because our property values were never overinflated like many parts of the country. In some ares, values dropped more than 50 percent.
Peeters says the Fox Valley has done quite well through the economic downturn, and the real estate market here is poised for a profitable year.
Peeters says since we never experienced the "high highs" of the real estate market, we're not experiencing the "low lows." He says that's good for both buyers and sellers in the Fox Valley. |
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