For almost a year now, I have been posting information about scheduled foreclosures (Trustee Sales) in Harrisonburg and Rockingham County to HarrisonburgForeclosures.com. 

In the more recent past I have been compiling some basic details on these scheduled foreclosures, an analysis of which is presented below, but first let me explain why this is only a "casual examination" of foreclosures.  HarrisonburgForeclosures.com offers information on scheduled foreclosures, not just those that actually are foreclosed upon (some Trustee Sales never take place.)

Thus, this analysis is based on properties that are headed towards foreclosure, but isn't just based on those that are actually foreclosed upon.
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As you may have imagined (above) most of the properties are in Harrisonburg (which includes Harrisonburg-addressed Rockingham County properties, and is the largest area in the County).  Coming in behind Harrisonburg are Elkton, Broadway and McGaheysville.

This next document examines when these homeowners purchased the home that is now being (possibly) foreclosed upon...

As you can see, the vast majority of these homes were purchased in 2005, 2006 and 2007.  This should serve as no significant surprise, as that was when loan requirements were being pared down and pared down, such that anyone with a pulse could obtain a mortgage.  These lax guidelines resulted in some people owning homes that weren't really in a financial situation that would allow them to consistently pay their mortgage. 

I'll update this analysis from time to time, but one thing that you ought to be sure to remember is that (thankfully) Harrisonburg and Rockingham County have an extremely low rate of foreclosure as compared to other parts of the country.  This is wonderful news, as it has not negatively skewed our home values as has happened in many larger metropolitan areas.

For more details on upcoming foreclosures, visit HarrisonburgForeclosures.com.