Johnson County Real Estate: Are Real Estate Foreclosures Up in Johnson County, Kansas?
If you haven't heard, real estate foreclosure are up, or are they? Most of the headlines this week is "Real Estate Foreclosures are Up 70% over the Same Time Last Year." If you are like me and read the articles, you will notice, like me, that it is real estate foreclosure filings are up 70%. The 70% number is much higher then the actual foreclosure filing number. The bigger number probably sells more papers,right?
This week I was asked by a AP writer for foreclosure stats for Johnson County, Kansas. The facts are real estate foreclosure filings in Johnson County are up nearly 40%, not the 70% number poping up on the headlines.
Is Johnson County much lower or consistent with the nation? After reviewing stats with over 20 Loss Mitigation Consultants in other real estate markets, I have found that Johnson County is about average in the percentage increase in mortgage filings. Currently, there are nearly 10 Johnson County Real Estate Mortgage Foreclosure Filings a day.
In Kansas, a foreclosure filing is the banks initial filing at the county court house. It takes a few months for a bank to foreclose on a home in Kansas and with new laws, I expect actual real estate foreclosures to fall.
If you know someone who maybe heading to foreclosure, contact the Dowell Taggart Team of Infinity Realty. As Loss Mitigation Consultants, we can help! Stop a Real Estate Foreclosure