The NY Times Article Premise on Friday July 9th is that the rich are more likely to default than people with less lavish homes. This prompted me to look at what's up in Westport, Connecticut.
Realty Trac which follows properties in defaut through foreclosure reported that in Westport, 25 houses are in default, 2 are going to auction and 17 are bank owned. This is less than 10% of the 569 houses active for sale in Westport but a factor in the market.
Call or email if you would like to know more.
Stephen Reilly
Best Practice Real Estate
Higgins Group
203-246-7372
swreilly@swreilly.com
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