Dothan foreclosure numbers going up?
January 14th, 2008 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
As promised, here is the last eight weeks data on foreclosure notices published in the local newspaper.
I have only been tracking this information since November, even though before that I looked at the notices at least several times each week. I can say with a lot of certainty that I have never seen 12 notices in one day as we saw last Thursday. I can also say with relative confidence that the foreclosure numbers from this chart are not abnormally high for the Dothan area.
We’ll see how it plays out. As I stated in my predictions for the real estate market here in Dothan for 2008, I don’t think we can avoid an increase in foreclosures this year.
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Charles,
I’m not surprised by these numbers. It seems that the housing market seemed over inflated in the Dothan area and especially in Enterprise.
I must be missing something, but I don’t understand how the local economy can support a basic 33% income to mortgage ratio at these prices.
Howard
We are definitely pushing the envelope Howard. The medical field and local government are the two largest employers here in Houston County. I think there is a perception that we rely on service and retail jobs to feed our economy, but that dependence is not as great as we think.