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Friday, January 10,2014

Foreclosures down, home sales up

Ingham County Register of Deeds Office release 2013 housing figures that show a rebounding market

by Kyle Koehler
Hertel

Friday, Jan. 10 — Register of Deeds Curtis Hertel Jr. is reporting improvements in Ingham County’s housing market during 2013, as foreclosures are the lowest since 2005 and home sales are increasing.


Figures released from Hertel’s office Thursday show a significant drop in foreclosure rates for the county, as well as a 22 percent increase in home sales from the number recorded in 2012, which points to a rebounding housing market.


Sheriffs deeds, which represent the forfeiture of a property by the owner to the winner at a sheriff’s auction (usually the bank or lender who holds the mortgage), also dropped significantly. The number of recorded deeds in Ingham County dropped from 1,314 in 2012 to 975 in 2013 — a 26 percent improvement.


Last year was also the first time since 2005 that Ingham County had less than 1,000 foreclosures in a calendar year.


“These numbers show us an encouraging trend in Ingham County,” Hertel said in a press release. “We’ve seen a 46 percent drop in foreclosures over the last three years. … The local economy is improving, and our efforts to fight foreclosure fraud have allowed many of our residents to stay in their homes.”


Hertel maintains a Foreclosure Fraud Hotline through the Register of the Deeds Office. A homeowner facing foreclosure can call (517) 676-7210 if they suspect foul play is involved in the matter.

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