More Pittsburghers Keeping Their Homes

A recent article in the Pittsburgh Post Gazette finally put a glimmer of light at the end of the real estate tunnel for area homeowners. Since the beginning of 2008, July marks the first DECREASE in mortgage defaults in the Pittsburgh area. Whew! (collective sigh) And not a drop in the bucket kind of decrease either - but a 29% drop over July 2007, which is not only substantial but encouraging. Just one more indicator that the Pittsburgh market marches to the beat of its own drum! "The record foreclosure pace we set at the beginning of the year is slowing, which may mean 2008 won't be a record year for foreclosures after all," quotes Dan Murrer, Vice President of RealSTATS, a real estate information company. "The drop in July combined with the drop we're seeing thus far in August shows the tide may be turning." Great news not only for area real estate companies and their sales agents, but also for the regions' generally negative real estate persona. To read the entire article by Tim Grant, go to http://www.post-gazette.com/pg/08242/907824-28.stm. (From Prudential Preferred Realty's Weblog, September 3, 2008).

Contact Alexis for more information or if you're looking to buy or sell a home: 412-877-9953 or alexis@alexisfitch.com. Specializing in Mt Lebanon and surroudning communities. I look forward to hearing from you!