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Foreclosure trend looks positive

In September, Crow Wing County did something not witnessed in nearly five years. It reported back-to-back months with fewer than 20 foreclosures. 

The county had 18 foreclosures, or sheriff’s certificates, in September. That comes on the heels of 16 foreclosures in August. 

There were 57 foreclosures in September of 2010 and 18 in September of 2009. 

The foreclosure numbers for 2011 thus far are ahead of previous three years totals in September.  

But that could change if the current trend continues.

In 2004, there were 68 foreclosures for the year. By 2010, the number soared to a modern record high of 388 foreclosures. 

Once the recession took hold, there were months in the last four years with higher foreclosure numbers than posted in an entire year before the market meltdown.

In 2001, there were 39 foreclosures in Crow Wing County. Last March, there were 58 during the single month. 

So far this year, there foreclosures by month were:

• 27 in January. 

• 28 in February.

• 58 in March.

• 31 in April. 

• 33 in May. 

• 41 in June. 

• 38 in July. 

• 16 in August. 

• 18 in September. 

Notices of Pendency provide an indication of how many foreclosures are coming in the near future. 

In September, there were 43 notices. Compare that to 64 in September of 2010 and 83 in September of 2009. 

Kathy Ludenia, Crow Wing County recorder said: “The trend is positive.”