N&O reports Triangle Foreclosures up 12% compared to 2009 (transplants, real estate)

[Beermat]

hardly a big surprize considering the daily media reports on the economy and unemployment, but still tough on the 7,611 Triangle families impacted by the foreclosure process in the 1st ten months of this year - but still better than most parts of the country. Let's hope things improve in 2011 as this doom and gloom has gone on for far too long.

.biz - Triangle foreclosure filings remain ahead of last year's pace | newsobserver.com blogs

[WRAL]

It's useful for potential transplants to understand that The Triangle isn't the land of milk and honey as some surveys seem to paint it. That the same problems exist here as elsewhere in the country even if on a lesser scale.

[wjsluvskaz]

Originally Posted by WRAL

It's useful for potential transplants to understand that The Triangle isn't the land of milk and honey as some surveys seem to paint it. That the same problems exist here as elsewhere in the country even if on a lesser scale.

I couldn't agree more with this, you are right on

[MikeyKid]

October QoQ saw your MSA as one the highest performers nationally with only a -2.3% decline overall... More telling (relevant to this thread), they're calling the REO saturation 2nd lowest of the highest performers at 7.8%. Which is extremely interesting considering the OP and a spike of 12% in YoY foreclosure totals.

U.S. Home Prices Continue Plunge, Says Clear Capital Report - Real Estate Channel Global News Center

I guess the big question is how the foreclosure trend continues (considering fraudclosuregate) and likely something to really keep a close eye on. I've personally been of the mind that the NE markets are key to NC markets as much of the movement here is driven by transplant activity. The bubble here was delayed and suppressed somewhat and one thing I look at for a key indicator is the lag here to the NE crash on the way down should be somewhat consistent with the NE finally stabilizing.

Looking at where the highest performers (NY/LI/NJ/CT tri-state, DC/NOVA, MA) are, this is some of the first data I can look at and think things might actually be stabilizing for NC. Especially when you consider containment area for relocated yankees... If we can somehow get the foreclosures cleared out and get the economy back on track, which I'm extremely pessimistic about in the short term... if if if