Low Foreclosure Rate in Vernal

While the number of foreclosure filings has increased to an all-time high, a booming economy in the Uintah Basin has helped people here continue to make their house payments and continue to thrive during tough economic times. According to data obtained from RealtyTrac – a private company that tracks real estate information across the nation – the number of foreclosures in Duchesne and Uintah counties over the past few years has been well below the national and state averages.

In 2007, just .05 percent of all households in the Basin experienced foreclosure or were sent default notices, compared to a state average of 1.1 percent of all households and a national average of 1.77 percent of all households, according to RealtyTrac numbers.  According to State Sen. Kevin VanTassell, who represents the Uintah Basin, the low number of foreclosures in the area is a direct result of the fact that there are plenty of jobs to go around.

On a state level, RealtyTrac’s 2008 U.S. Foreclosure Market Report ranked Utah 15th in the nation for its foreclosure rate. Collected data also showed that the Beehive State had 4.99 percent more filings in January 2008 than in January 2007.
 

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Vernal must be doing pretty well. Keep it up vernal!

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RealtyTrac, an Irvine, Calif., real estate firm, reports Thursday that foreclosure filings totaled 332,292 last month, down 3% from September but up 19% from a year earlier. The figure means that one of every 385 homes received a foreclosure notice in October. Hoses with wood burning fireplace are more expensive.

 
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