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November 2013 Distressed Property Index Down to 12.9%

By Dan Miller danielmiller@kw.com
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A quick note on how you can search for Madison and Dane County distressed properties: We have 6 foreclosure search tools to assist you with your foreclosure search. All six tools are available on our foreclosures and property search menus. Our monthly distressed property index report follows.

The November Dane County Distressed Property Index was 12.9% - down from a value of 21.6% in November of 2012 - and down from the value of 13.3% from the previous month. We expect the index to continue to decrease in the coming months due to the recent decline in foreclosure filings and increase in sales. 

Our data tracks back to January of 2006, when the index stood at 5%. Note from the graph below the index had grown steadily over time as Dane County foreclosure filings increased greatly, peaking in 2010.

How to interpret the index

The index measures the ratio of foreclosure filings to home and condo sales in Dane County over a 12 month time period. It approximates the percentage of distressed sales (those relating to foreclosure) in the Dane County housing market. For instance, a Distressed Property Index of 25% indicates approximately 25% of the current Dane County housing market involves distressed properties.   

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How the index is calculated

The index includes the following variables:

(A) The number of Dane County foreclosure filings that occurred during the 12 month period beginning 18 months prior to the current month. This timeframe is chosen because most foreclosure filings result in either a short sale, a sheriff's sale, or a lender-owned sale - many of which do not occur until 6 to 18 months after the filing. 

(B) The number of Dane County homes and condos sold via the South Central Wisconsin MLS during the previous 12 months.

(C) A factor for FSBO (for sale by owner) transactions. Dane County FSBO sales are roughly 15% of the volume from the South Central Wisconsin MLS.

Using the variables above, the Distressed Property Index is calculated as follows:

Distressed Property Index = (A)/(B*C)

The November 2013 Distressed Property Index includes the following variables:

(A) 871 Dane County foreclosure filings from June 2012 through May 2013

(B) 7,343 Dane County homes and condos sold via the South Central Wisconsin MLS during the prior 12 months.

(C) A FSBO sales factor of 1.15

DPI = (871)/(7,343 * 1.15) = .129

About us

This information is provided courtesy of Dan Miller, Shawn Kriewaldt, and Chris Venden, of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact:

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