Repossession Activity by town
Repossession activity is driving down the price of houses. After a home has been repossessed the owner and the bank have taken large losses on the property and when it comes back on the market the price is typically way under market.
The following chart shows repossession acitivty by town as of June 9, 2010.
http://www.swreilly.com/marketinformation/repos%20per%20town%20january%2031%202010.htm
The Wall Street Journal Reported on Monday 10/12/09 that "Foreclosures Grow in Housing Market Top Tiers" and this trend continues.
Repossession by town chart shows that most towns in upper Fairfield County that we track had an increase in the number of repossessions.
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