Local foreclosure sales see a dramatic drop in 2013 - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

Local foreclosure sales see a dramatic drop in 2013

Posted:

Eau Claire (WQOW)- Experts say home prices are on the rebound and part of the reason why is because of less home foreclosures.

"With rising prices, we should see fewer and fewer foreclosures," says Eau Claire Real Estate Agent David FitzGerald.

Locally, real estate agents say that's exactly what they've been seeing; fewer homes facing foreclosure.  That's backed up in the latest report by RealtyTrac, a company that compiles real estate information nationally.

According to the numbers in Eau Claire, Dunn and Chippewa Counties, foreclosure sales dropped by about 40 percent in the first six months of this year compared to that same period a year ago.  Experts say for a majority of the housing market, that's a good thing.

"Foreclosure properties compete with existing homes on the market and basically depress prices somewhat," FitzGerald explains.  "With fewer foreclosures, you are seeing prices rise and that's good for anybody who owns a home."

We've seen a 41 percent decline in Eau Claire, 43 percent in Dunn and 37 percent in Chippewa Counties.  With trends heading in the right direction for a majority of the market, many believe sales for the rest of the year will only get stronger; and maybe even long after that.

"I would expect for the next few years we should see above average increases in prices to make up for stagnant and depressed prices that occurred the previous five, six, seven years," points out FitzGerald.

Wisconsin as a whole has had about 30 percent less foreclosure sales in 2013 compared to last year.  That's nearly 7 percent better than the national average.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Decorah Eagle Cam

    Decorah Eagle Cam

    The Eagle Cam is back!  Watch live as eagles build their nest and family!More >>
    The Decorah eagles became international stars in 2011, when their nest went viral. To date, over 280 million people from 84 countries have followed the eagle family from eggs to fledgling birds, watching every aspect of life in a wild nest.More >>
  • Polk County deputy laid to rest Saturday

    Polk County deputy laid to rest Saturday

    St. Croix Falls (WQOW) - Hundreds gathered in St. Croix Falls to give their final farewells to Deputy Mike Seversen. He died due to complications of a gunshot wound earlier this week. He was shot in the line of duty 23 years ago and was left paralyzed. Mark Seversen, Mike’s brother, said, "We wish you were here,” referring to his brother, Mike, who passed away on April 14. A brother. A friend. A hero. A man many will always remember as courageous, resilient and humble. Jayne Wellumson, Mike’...More >>
    St. Croix Falls (WQOW) - Hundreds gathered in St. Croix Falls to give their final farewells to Deputy Mike Seversen. He died due to complications of a gunshot wound earlier this week. He was shot in the line of duty 23 years ago and was left paralyzed. Mark Seversen, Mike’s brother, said, "We wish you were here,” referring to his brother, Mike, who passed away on April 14. A brother. A friend. A hero. A man many will always remember as courageous, resilient and humble. Jayne Wellumson, Mike’...More >>
  • Eau Claire business moves out after 50 years in downtown

    Eau Claire business moves out after 50 years in downtown

    Eau Claire (WQOW) - The final tenant has moved out of a set of buildings set for demolition to make room for the proposed Confluence Project. After more than 50 years in downtown Eau Claire ScandinavianMore >>
    The final tenant has moved out of a set of buildings set for demolition to make room for the proposed Confluence Project.More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WQOW. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's pubic inspection file should contact Director of Station Operations Lisa Patrow at 715-852-5920. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.