January Foreclosure Analysis
Foreclosures were up 22% in January from the prior year with 453 total and an average foreclosure amount of $46,089.
River Oaks (38120) had the largest increase with 7 for the month, up 600% from January 2009.
Frayser (38127) and Raleigh (38138) remain the leaders in total foreclosures, claiming 31 each for the month but both were down almost 10% from the prior year.
Foreclosure notices were down from January 2009 to 982, a 14.2% decrease. South Memphis (38126) had the largest decrease in notices, down 71%.
Fannie Mae held the largest foreclosure inventory at the close of the month with 413 properties in inventory valued at $45 million. They took on 71 new foreclosures for the month and sold 64 giving them the title of the Top Residential Seller in Shelby County for January.
Frayser (38127) has the highest foreclosures inventory, with 453, down 2% from the start of the month. The total inventory value at month end was $30.4 million.
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Read the latest article on local foreclosures from The Daily News here.