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Foreclosure Filing Trends and Distributions: State and Local Perspectives 2000 through 2010 Dane County Foreclosure Prevention Taskforce Meeting December 8, 2010 Dr. Russ Kashian Department of Economics University of Wisconsin- Whitewater Matt Kures Center for Community & Economic Development University of Wisconsin-Extension
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Foreclosure trends and distribution for Wisconsin 2000-2010

Transcript of Kures dane county_foreclosure_web

  • 1. Foreclosure Filing Trends and Distributions:State and Local Perspectives 2000 through 2010
    Dr. Russ Kashian
    Department of Economics
    University of Wisconsin-Whitewater
    Matt Kures
    Center for Community & Economic Development
    University of Wisconsin-Extension
    Dane County Foreclosure Prevention Taskforce Meeting
    December 8, 2010

2. Source: Dane County Foreclosure Task Force
3. How do foreclosures impact neighborhoods and housing markets?
Property owners facing foreclosure may have less incentive to maintain or upgrade their property (Schuetz et al, 2008);
After the completion of the foreclosure process, properties may sit vacant and have the propensity to attract vandalism and crime signaling that the neighborhood is in a state of decline (Schuetz et al, 2008);
High rates of foreclosures may increase the number of properties on the market at a given time ( Schuetz et al, 2008);
Properties may sell at a discount, both at auctions or pre-foreclosure sales, affecting the price of comparables used to estimate neighboring property values (Lin et al, 2009).
4. Based on filings reported in the Wisconsin Circuit Court Consolidated Court Automation Programs case management system.
5. 6. Based on filings reported in the Wisconsin Circuit Court Consolidated Court Automation Programs case management system.
Housing unit s are based on annual estimates from the Wisconsin Department of Administration Demographic Services Center.
7. Based on filings reported in the Wisconsin Circuit Court Consolidated Court Automation Programs case management system.
8. 9. 10. 11. 12. 13. 14. Source:Bureau of Labor Statistics Local Area Unemployment Statistics (LAUS)
15. For More Information
Matt Kures
Center for Community & Economic Development
University of Wisconsin-Extension
610 Langdon St. #336
Madison, WI 53703
608 265-8258
[email protected]
www.uwex.edu/ces/cced
http://twitter/uwexcced