City Of Milwaukee Forclosures

The City Of Milwaukee has published some great maps showing foreclosure statistical information.  The full pdf file is at the following link: http://www.city.milwaukee.gov/ImageLibrary/User/jsteve/NSP__Appendix.pdf As of 19th September 2008 there were 1619 bank owned properties and 138 city owned properties for a total of 1757 properties that are bank owned or city owned. As of 3rd October 2008 there were 4363 open foreclosure filings. There were a total of 8588 Foreclosure filings in Milwaukee from 1st January 2007 through 3rd October 2008 an average of 409 per month. By contrast the MLS showed that there were a total of 5490 single family homes that actually sold during this same time period in Milwaukee. irregardless of property type, the MLS showed that there were 9265 total properties sold in Milwaukee. The chart below shows some interesting statistics. Properties have been taking over 6 months to sell from the time of sheriff auction and they are selling for about 50% of assessed value!