Soaring Foreclosures in the Wenatchee World?
The Wenatchee World has this article on Soaring Foreclosures being bad news for neighbors. It’s a big headline, all the way across the top of page C3 in the business 
section. But, I have a problem with it.
I have a problem because we don’t have soaring foreclosures in North Central Washington. We don’t have high flying, or even a hopping foreclosure problem. In fact, foreclosures here are very low and expected to remain so.
The places that have high foreclosures are places where home values have dropped to well below what people owe on their houses. That isn’t North Central Washington, but you would never know it from the article. The article is credited to the Associated Press. While the article talks about Stockton, California with one of the highest foreclosure rates in the country, it fails to mention that in Wenatchee and much of the rest of the country, no such problem exists.
But, if you live in Stockton, Detroit, Vegas or somewhere with high foreclosure rates, be warned that having lots of foreclosures in your neighborhood can impact you! If you live in Wenatchee, Chelan, Leavenworth or most other places around here, you don’t need to lose any sleep over it.
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The World loves to publish national articles like that and then the following day will print a local article with data that contradicts the first one. Every time a national story comes out, I get calls from buyers looking to take advantage of falling prices in Leavenworth. Not happening. Here’s an article I wrote spelling out the specifics. http://www.myleavenworth.com/2008/02/real-estate-has-been-in-national-news.html