A daily journal concerning Lake Vermilion and surrounding areas.
Selected real estate, notes, stories, musings, and anecdotes.

Foreclosed For Now.

December 14, 2010

The real estate market is in foreclosure challenged territory.  Lender owned properties contribute to the out of balance forces between supply and demand and this ongoing issue continues to add uncertainty to many geographical areas.

Homes in foreclosure will have an affect on some markets until the quantity of those properties returns to normal levels.

Specific real estate markets are affected by their respective foreclosure inventory.  To put that into perspective look at these (Google) maps that reveal the numbers of properties currently in foreclosure for each selected area.

Lake Vermilion, MNDuluth, MNMiami, FLDetroit, MI

That’s kind of an eye opener.

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