November Dane County Distressed Property Index sits at 24%

Approximately 24% of the home and condo sales in Dane County are related to foreclosure, according to the Distressed Property Index we developed earlier this year. The November index decreased slightly from the index level in October.

The November index decreased because home and condo sales have been increasing at a faster rate than foreclosures. We don't believe this is a start of a long-term trend - and for two reasons. First, the recent rise in home and condo sales is due in large part to the home buyer tax credits. Second, some lenders have been implementing foreclosure moratoriums. Both of these are temporary measures. We expect the index to remain above . 2 for at least the next 6 to 12 months.

Have a good one,

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com