Real Estate

Mapping “Fewer” Foreclosures

After reading this week’s news of fewer Bay State foreclosures, I took a look at the North End/Waterfront area using a mapping tool.

Below is a map showing nearby properties going through some type of foreclosure or default activity. The map is interactive, so you can click it and zoom in on specific areas. A larger map is also available at the link at the bottom.

As of this writing, the map highlights only one property in the North End at Broad Alley.

View Larger Map

An article in Banker & Tradesman points out that the moderating trend doesn’t necessarily mean improvement. “We are seeing this trend where the number of actual foreclosures has moderated this year compared to 2008. But what’s important to keep in mind is that lenders haven’t really slowed down on initiating foreclosures in Massachusetts. Since January, lenders have started an average of 110 foreclosure proceedings a day,” said Timothy M. Warren, CEO of The Warren Group.