Asheville No. 194 as foreclosures soar

Good news AND bad news for the Asheville economy? U.S. Metro Foreclosure Market Data for the first quarter from RealtyTrac shows Asheville as No. 194 out of the nation’s 203 top foreclosure markets.

Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is filed against a property during the month or quarter, only the most recent filing is counted in the report.

via Report: Foreclosures Soar In Some Areas, Fall In Others : The OurBroker Real Estate Center.

UPDATE: HousingWire.com spins the report like this:

Other metros with low foreclosure rates include Utica-Rome, N.Y., Houma-Bayou Cane-Thibodaux, LA, Charleston, WV, Kennewick-Richland-Pasco, Wash., Lafayette, La., Longview, Texas and Asheville, N.C.

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