Crow Wing County foreclosures drop below 200 annually for the first time since 2006 | BrainerdDispatch.com | Brainerd, Minnesota

Crow Wing County foreclosures drop below 200 annually for the first time since 2006

Posted: January 10, 2014 - 10:34pm

Foreclosures in Crow Wing County in December could be counted on two hands.

Kathy Ludenia, Crow Wing County recorder, reported 10 foreclosures for December, tying the lowest numbers posted for 2013. The county had three months last year where the number of foreclosures dropped as low as 10. They never dipped lower.

There were 192 foreclosures in the county in 2013. It’s the first time since the Great Recession began the number of foreclosures fell below 200.

In 2012, there were 273 foreclosures. In 2011, there were 369. In 2010, there were 388. The last time there were fewer than 200 foreclosures came in 2006 when foreclosures were already rising but not yet a blush of what was to come.

How did this December compare to previous years? There were 17 foreclosures in the last month of the year in 2012. In December of 2011, there were 29.

As an indicator of foreclosures in the pipeline, the number of pending notices was 23 for December. That compares to 30 pending foreclosures in December of 2012 and 45 in December of 2011.

And 2013 hit another milestone for recent memory. It marked was the first time since 2007 that Crow Wing County had a month with fewer than a dozen foreclosures. In 2013, it happened not just once but four times.

And if pending foreclosures are any indication, the tide has definitely slowed. In 2013, there were 277 pending foreclosures indicating one was imminent and likely but not guaranteed. In 2012, there were 410 pending foreclosures. In 2011, there were 479. In 2010, there were 590. And the peak number since the recession began came in 2009 when Crow Wing County had 645 homeowners anticipating the possibility of losing their home to a pending foreclosure.