A Casual Examination of Foreclosures in Harrisonburg and Rockingham County


A Casual Examination of Foreclosures in Harrisonburg and Rockingham County
By Scott Rogers • September 3, 2009
For almost a year now, I have been posting information about scheduled foreclosures (Trustee Sales) in Harrisonburg and Rockingham County to HarrisonburgForeclosures.com. In the more recent past I have been compiling some basic details on these scheduled foreclosures, an analysis of which is presented below, but first let me explain why this is only a "casual examination" of foreclosures. HarrisonburgForeclosures.com offers information on scheduled foreclosures, not just those that actually are foreclosed upon (some Trustee Sales never take place.) Thus, this analysis is based on properties that are headed towards foreclosure, but isn't just based on those that are actually foreclosed upon. Click here to view a larger version of this document As you may have imagined (above) most of the properties are in Harrisonburg (which includes Harrisonburg-addressed Rockingham County properties, and is the largest area in the County). Coming in behind Harrisonburg are Elkton, Broadway and McGaheysville. This next document examines when these homeowners purchased the home that is now being (possibly) foreclosed upon... As you can see, the vast majority of these homes were purchased in 2005, 2006 and 2007. This should serve as no significant surprise, as that was when loan requirements were being pared down and pared down, such that anyone with a pulse could obtain a mortgage. These lax guidelines resulted in some people owning homes that weren't really in a financial situation that would allow them to consistently pay their mortgage. I'll update this analysis from time to time, but one thing that you ought to be sure to remember is that (thankfully) Harrisonburg and Rockingham County have an extremely low rate of foreclosure as compared to other parts of the country. This is wonderful news, as it has not negatively skewed our home values as has happened in many larger metropolitan areas. For more details on upcoming foreclosures, visit HarrisonburgForeclosures.com. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
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