According to the latest report furnished by RealtyTrac for March 2009, Connecticut is 
ranked #13 nationally with a total of 2,885 foreclosure filings which consists of notices of default, auctions and bank owned properties. This represents an increase of nearly 30% for Connecticut home foreclosure filings from February 2009 and a 35.70% increase from March 2008. Connecticut was ranked #14 in foreclosure filings in February 2009.
With 1 in every 417 homes facing foreclosure, New Haven County has the highest number of foreclousre filings with 836 followed by Fairfield County with 740, Hartford County with 590, New London County with 211, Windham County with 141, Litchfield County with 133, Middlesex County with 123 and Tolland County with 85. A weakening in the financial and manufacturing sectors and a flattening of the job market has been a contributing factor for the rise in Connecticut home foreclosure filings. This brings Connecticut to a total of 6,756 foreclosue filings year to date.
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If you are considering listing your home as a short sale be sure to choose a Realtor with the CDPE designation. An agent who has earned the Certified Distressed Property Designation has dedicated their time and effort to understanding the issues distressed homeowners are dealing with and who understands the full range of solutions and is ready to help.
A short sale is an emotional transaction, but as a Certified Distressed Property Expert, we help you take the stress out of losing your home to foreclosure. Successful short sales include all property types, including condos, townhomes multi-family homes, single-family homes, luxury estates and waterfront homes.
Donna Bigda, CDPE
Licensed Connecticut REALTOR®
10 Pine Orchard Road
Branford, Connecticut 06405
Call Donna at 203-488-1641, ext. 214
Fax 203-315-2127
by email Donna@DonnaBigda.com
or visit www.DistressedHomeownersHelpline.com
Mortgage Assistance Relief Services Disclosure
RE/MAX Alliance is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating. RE/MAX Alliance is not engaged in the practice of law nor gives legal or tax advice. It is strongly recommended that you seek appropriate professional legal counsel and tax advice for any real estate transaction.
Copyright © 2009 by Donna Bigda, All Rights Reserved ...*Connecticut Home Forelcosures - Connecticut Ranked 13th In March 2009 Nationally*
Wow that surprises me a little Donna. Although maybe not for New Haven. Is Bridgeport high up on that list too ? I went to the Univ of Bridgeport, and the surrounding town itself always had trouble with vacant homes and struggling homeowners back then too.
Oh and I am going to take the CDPE course soon, how did you like it ?
Sheldon
Hi Donna;
Great post and very informative, I thank you for sharing.
Sheldon - Bridgeport is right up there too. As a matter of fact, Bridgeport had a total of 252 foreclosure filings for the month of March and New Haven had 124 so it appears that it continues to be a struggling area.
I didn't know you were a Connecticut transplant via UB....I loved the CDPE course. I took the online version of it. You won't believe how much you are going to learn and the knowledge you will gain about the entire short sale process.
Anthony - Thanks for stopping by. I think it's so important that people have this information.
... yeah I'm not surprised about Bridgeport.
I did have a FANTASTIC four years there at college though !!!
Donna this is good information to share, I like the way you gave the breakdown.
Hi Donna, I noticed you had the CDPE designation, would you recommend it..?
Jennifer - I was surprised by the increase from last month to this month which is very similar to what has taken place across the rest of the country.
Konnie - I would highly recommend the CDPE course. The course material and information you get is well worth the investment. It is one of the most informative classes I have ever taken.
Donna- Glad I ran across your post. Took me to some good Georgia data on the link. Thanks.
Tammy - You're welcome. I'm so glad you'll be able to use the information you found about Georgia in the link to the report.
Donna I did not realize that we were having that many foreclosures in the State. Maybe it is because most of my business is in Middlesex County where there were only 123.
George - I knew we were seeing a lot but I didn't expect to see as many as I did either. The New Haven area has been hit especially hard. Fortunately the Middlesex area is not feeling the brunt of it.
Hi Donna, yes the recent news is that the Northeast in general seems to be 'catching up' to the rest of the country in the foreclosures and dropping values/slowing activity, at least that is in the news the past week or so. Very sad all the way around. I am dealing with a young couple who taking an absolute beating on trying to sell property and it seems there are roadblocks at every turn between toughened financing rules and appraisal issues.
Hi Paul - It is very sad indeed. I've seen a tightening with buyers looking for financing along with tougher appraisals. It breaks my heart every time I show a house that clearly shows that a family had lived there happily and yet had to vacate the home and leave their personal belongings.
yes they look so nice but Foreclosures are such tough on to stomach.