Year to date numbers show foreclosure numbers about half of last year at this time
ANTRIM CO., MI -- This year, Antrim County has seen fewer foreclosures compared to January and February of last year, and at the same time, realtors say the housing market it stirring.
The Antrim County Register of Deeds said last year, the total number of foreclosed homes the county took in was less than the year before and she thinks this year, it could be substantially less.
Just take a drive through Antrim County, and seemingly every turn, there is a home for sale. If you look to the house, chances are every once and a while, you'll see the Sheriff's notice. Foreclosures have been a major problem in the county, just as they have been throughout the nation.
"It hurts the tax revenue, tax base, accessor values get hit, for that," said Patty Niepoth, the Antrim County Register of Deeds.
Back a couple years ago, in 2009, the county took in 199 foreclosures. In 2010, the number dropped to 186. Early indications show this year, there could be a big drop.
"This year, I think we will be, a hundred maybe, maybe a little over 100," said Niepoth.
Niepoth says it's all in the statistics. In January and February of this year, 24 homes have been foreclosed. That's compared to 43 in January and February of 2010. She says the difference of 19 is likely due to lower mortgage rates and people refinancing their homes.
"The road to recovery has started I believe, but it's going to be a long climb," admitted realtor Dave Ciganick.
And at the same time foreclosure numbers are down, Ciganick says homes are starting to sell again. However, it's many of the foreclosed, reduced value homes.
“The lower end, as we call it, there are houses that have sold for $22,000 in some of these communities, or less," Ciganick said.
Niepoth says this isn't necessarily a bad thing, because they are affordable homes that younger families can move into and in affect help the county's tax base revenue.
"I think it helps young people decide, oh I'd like to buy a house verses renting, so they can buy a house now, buy a foreclosed home with a low interest rate," she said.
Niepoth says as many of the homes are occupied once again, it also cleans up the image of Antrim County, which can be another long-term advantage.
To visit the Antrim County Register of Deeds website, CLICK HERE.
To visit Coldwell Banker Schmidt Family website, CLICK HERE.
