Our market experts in Massachusetts are doing what they can to damper the continuing bad news regarding foreclosures in this beleaguered real estate market.

Realtytrac.com is reporting that bank foreclosures for March were up 57 percent from the previous year, while bank repossessions increased a staggering 129 percent from March 2007.

These numbers are pretty daunting, but we all know that national numbers don't always reflect what's happening in local markets.

Karen Martin says that in Fall River Massachusetts, single family homes are still moving quite well.

Sales have gone up in every surrounding market compared to last month, she says, and the market downturn hasn't severely affected home values.

And Lori Lincoln of Taunton, Massachusetts says that there are about 242 active listings in her area, where average time on the market is 163 days.

There are 34 home sales pending, she says, and first-time homebuyers can enter this market anywhere for from 200,000 to 300,000 dollars.

So despite the low national numbers, local markets continue to reflect a steady stream of activity. It may not be the boom days anymore, but the real estate cycle rolls on anyway.

Published: April 22, 2008

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