Connecticut’s foreclosure rate is far below the national average.
Nearly 60% of the total foreclosures nationwide are in Nevada, Arizona, Florida, California, Michigan, Utah, Idaho, Georgia, Illinois, Colorado.
In Connecticut, takes well over a year to go through the full foreclosure action, with modification, most foreclosures take longer. To date, Fairfield County has had less foreclosures than the rest of the state, Add in The unemployment rate going up across the world, affecting our county’s diverse work force,. This will move unemployment upward in mid to late 2010, both nationally and statewide. When you add in the new Federal & State foreclosure requirements This will affect our Ct. housing market but how much, time will tell
Bethel
Housing prices in Bethel kept rising until mid 2008, when the Assessors office saw a slow reduction in home prices, which continued into 2009. However, Bethel’s housing prices are holding up better than the state & national market.
This year (2010) the general market again is in decline. The Assessors office cannot not do a full analysis until mid year but the number of recording’s of foreclosures have increased slightly over 2009. While the number of foreclosures is increasing, We don’t think its enough of an increase to be overly concerned about.
The average home market price today is the same as it was in late 2001. That value is still in the upward pricing cycle of the last housing run up. Bethel homes are holding their value well
Bethel with all it’s charm and good old town hall meetings that keep the voter involved is proving & showing that Bethel is a town of conservatives and steady habits
Bethel will weather this downturn in housing market.
A. J. BERNARD
CIPS, CRB, CRS, GRI,
RMU, RECP, CRA, PSCS
Bethel, CT Realtor
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