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Posted by Ken Dunnington on Monday, March 09, 2009 at 12:05:22 :
In Reply to: Want an eye opener? go to posted by 48PW on Monday, March 09, 2009 at 11:36:16 :
It can depend on the neighborhood though. I get legal notification of every 'legal' action on a house in my HOA. We have none in foreclosure right now. Only had one foreclosure in the past ten years. But we're "low-end" homes, averaging below the median price for the city we're in. Now, the next neighborhhood over has a similar HOA name and I get some of their legal notices so I know of a few foreclosures there. The average home price there is higher than in our neighborhood.
I *guess* that when people were buying homes to their means, our price level was skipped over and thus we don't have the foreclosures now that people's means have retracted.
Ken