Bozeman Montana Foreclosure Landscape
Foreclosure news is all over in the media, but oftentimes people wonder, “okay, that is the 100,000 foot view of what is going on, what about in MY area?” For all you here in the Gallatin Valley who are asking themselves this, here is a local look at Bozeman Montana Real Estate.
Foreclosure rates are down by 18% after a four year consistent rising trend. Specifically, Gallatin County has 205 foreclosed properties on the market. This is the second largest number in the state following behind 275 in Flathead County. These rates reconfirm that Montana is a wonderful place. Montanans as a whole have been resilient in fending off the flood of foreclosures by getting creative and seeking personal ways to keep afloat while the real estate market prices continually sank due to the high density of markets anchored down by low foreclosure rates.
Beth Schmidt, Rural Dynamic Inc.’s counseling director, has spoken with people who fended off foreclosure over the last few years by dipping into retirement accounts or using credit cards to pay their mortgage in hopes that the economy would pick up and more work would be available.
But these creative means are wearing thin. The national economy is picking up so slowly that 2012 is really a ‘make it or break it’ time for Montanans.
More about Foreclosure:
- ARTICLE: Montana homeowners hurry to beat Friday deadline for foreclosure help
- ARTICLE: 2010: Foreclosures hit record high in Gallatin County
- ARTICLE: Big Sky: bargain basement