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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Nice Post. It’s really a very good article. I noticed all your important points. Thanks!!
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Alright this foreclosure was low but where we are heading to ? Its better to go for Dubai real estate or Abu Dhabi real estate.
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Foreclosures fell for the third-consecutive month in October, another sign the worst of the housing crisis may be past.
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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With the market world over seeing an improvement I can safely say that real estate is one place that can yield good profits on investments. With some good advice I have made an investment with Trinidad CA Real Estate and my portfolio manager keeps a track of my investment which I must say are showing positive signs already.
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Once a homeowner has faced foreclosure and come through it, they can provide an important perspective to other foreclosure victims in similar situations. Especially as foreclosure is often accompanied by a transition period, there may be an opportunity for homeowners to become the most powerful positive force in the foreclosure industry and provide the most empathetic foreclosure advice to fellow homeowners.
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It's great to know that the foreclosure rate is low in Duchesne and Uintah counties inspite of the economic downturn. The growing graph reveals that the people have enough money in their hand to invest in real estate.
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One aspect of this can be attributed to the fact that the economy is doing well and the cash flow from various businesses are in the black meaning profitable the other thing that must be said that people are good at managing their personal finance and therefore the cash in hand or available cash is positive too.
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just .05 percent as compared to 1.1% in the previous year and against a national average of 1.77%, really you guys in Uintah Basin are setting an example for others. But as you have also mentioned that this has been possible because of a booming economy so that explains why this has been possible.
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It is very good to know that some places have relatively low real estate prices. The economy is in a very bad place right now, and everyone needs to save their money in order to survive. There are a lot of Tucson homes for sale right now that have low prices as well. I know because I was looking into moving there soon.
The reason for a high foreclosure rate in countries is because in most part of the world the home loan rates happen to still remain on the higher side meaning people have to pay more on the home mortgage loan. Recently SBI home loans, India's biggest bank reduced home loan rates so that people find it easier to repay home loan installments additionally the loan period or installment terms were relaxed to help people not having to default on their mortgage which I think is the right thing to do.
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People who have installed a fireplace in their home would need to care for the fireplace or else it could soon go out of use. Wood burning fireplaces are the most traditional fireplaces and are considered to be the most elegant & good looking fireplaces amongst all fireplaces thus lot many people choose wood burning fireplaces to be installed at their homes. But maintaining them is a task and therefore fireplace owners look for maintenance companies who will carry out such a job for them. A home fireplace is mostly used by people when the winter season arrives and they need their fireplace to work so that the surroundings of the room remain warm. With wood burning fireplaces people use wood and the burnt wood would leave debris which needs to be cleaned. In the business of fireplace maintenance the business owner can look forward to annual maintenance contracts which really is beneficial for fireplace owners that they can call upon people from the maintenance company to clean, restore, repair the fireplace at any time in the year.
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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.
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Foreclosure is the legal and professional proceeding in which a mortgagee, or other lien holder, usually a lender, obtains a court ordered termination of a mortgagor's equitable right of redemption. Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, the lender cannot be sure that it can successfully repossess the property, thus the lender seeks to foreclose the equitable right of redemption. Other lien holders can also foreclose the owner's right of redemption for other debts, such as for overdue taxes, unpaid contractors' bills or overdue homeowners' association dues or assessments.
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People love to build their own home and buying a property is a dream that we all cherish. But once you have bought a property may be a home whether you own an ultra-modern semi or some other dwelling you will want to keep the property well maintained so that the value of the property remains high.
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People love to build their own home and buying a property is a dream that we all cherish. The truth is that the economic meltdown in 2008 has left many a dreams of owning a house or an apartment shattered. But the love for a good house with good furniture remains and as world economy limps back the US housing data is showing positive signs.
Interest rates are low and if you think you can muscle some power then this is the right time to buy property at lower prices.
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That is really awesome, in a world where foreclosure has become a daily routine and people who cannot pay off their mortgage are having to surrender their home and apartments because they no longer have a job to be able to pay for the property they have purchased.
Nice to people in Vernal have been able to buck the trend. Its good to know that the local economy is outperforming others.
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That is great news. I think that it is important as a home buyer / owner to see a little light at the end of the tunnel, especially in an economic situation like we are facing at the present moment.
Utah is apparently one of the lucky ones, because a lot of other states are unfortunately not faring quite so well.
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This is so true. Fortunately, Utah only ranked 12 on foreclosure. For a glimpse of this stats, click here. Nevada followed by California has the highest foreclosure rate...
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