Cherokee Tribune – Foreclosure numbers notably down for 2013

26
Dec

Cherokee Tribune – Foreclosure numbers notably down for 2013

CANTON — With foreclosures around Cherokee County significantly down from December a year ago, 2013 will end with only about half the amount of properties repossessed as were last year.

In December, 141 foreclosed properties were advertised in the Cherokee Tribune, the county legal organ. That brings the total number of foreclosures for the year to 2,198, a 46 percent reduction from 2012, when 4,101 properties hit the chopping block.

The 141 foreclosures in December also showed about a 40 percent decrease from December 2012.

Dennis Burnette, president and CEO of Cherokee Bank, said there is still much work to be done to get Cherokee County back to the better days it saw about a decade ago, but the foreclosure numbers are a sign of improvement.

“I think that we are nearing an end to the foreclosure crisis,” Burnette said. “For the first time in several years, I am not fearful of foreclosures flooding the market and impeding the positive development in the housing market.”

Burnette said the lack of properties hitting the courthouse steps has driven values on homes in the county up.

via Cherokee Tribune – Foreclosure numbers notably down for 2013.

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