Foreclosures in Town?
Posted by CityBlogIN on May 28th, 2007
Can anyone speak to the issue of foreclosures in Bloomington, Indiana? Foreclosures are up around the country due to the sub-prime lending practices. Is there any foreclosure impact on real estate in Bloomington?
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Very few foreclosures exist in and around Bloomington, for the most part this area has not been hit substantially by the sub-prime debacle.
Although sales were down 5% for 2007, home prices for sold homes appreciated almost 6% for the same period. The impact of the housing crisis may have been cushioned in this area due to it being a University (I.U. and Ivy Tech) community with great investment opportunity for rentals.