Kures dane county_foreclosure_web

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Foreclosure trends and distribution for Wisconsin 2000-2010

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Kures dane county_foreclosure_web

  1. 1. Foreclosure Filing Trends and Distributions:State and Local Perspectives 2000 through 2010<br />Dr. Russ Kashian<br />Department of Economics<br />University of Wisconsin-Whitewater<br />Matt Kures<br />Center for Community & Economic Development<br />University of Wisconsin-Extension<br />Dane County Foreclosure Prevention Taskforce Meeting<br />December 8, 2010<br />
  2. 2. Source: Dane County Foreclosure Task Force<br />
  3. 3. How do foreclosures impact neighborhoods and housing markets?<br />Property owners facing foreclosure may have less incentive to maintain or upgrade their property (Schuetz et al, 2008);<br />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);<br />High rates of foreclosures may increase the number of properties on the market at a given time ( Schuetz et al, 2008);<br />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).<br />
  4. 4. Based on filings reported in the Wisconsin Circuit Court Consolidated Court Automation Programs case management system. <br />
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  6. 6. Based on filings reported in the Wisconsin Circuit Court Consolidated Court Automation Programs case management system. <br />Housing unit s are based on annual estimates from the Wisconsin Department of Administration Demographic Services Center. <br />
  7. 7. Based on filings reported in the Wisconsin Circuit Court Consolidated Court Automation Programs case management system. <br />
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  14. 14. Source: Bureau of Labor Statistics Local Area Unemployment Statistics (LAUS)<br />
  15. 15. For More Information<br />Matt Kures<br />Center for Community & Economic Development<br />University of Wisconsin-Extension<br />610 Langdon St. #336<br />Madison, WI 53703<br />608 265-8258<br />matthew.kures@uwex.edu<br />www.uwex.edu/ces/cced<br />http://twitter/uwexcced<br />

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