Figures provided by the Mortgage Banker’s Association suggest that mortgage delinquency rates declined a bit in the third quarter of 2010, but warn that the coming winter will show little improvement for homeowners struggling to make house payments. The Association reports that foreclosures “declined last quarter amid hints of improvement in the job market, but headwinds from defaults and a rising rate of new foreclosure applications keep the housing outlook muddied.” Real estate website Zillow.com’s foreclosure figures differed from the Mortgage Banker’s Association. They reported that foreclosures have reached a new peak in the U.S. since 1.17 in every 1,000 homes either are in the foreclosure process or perilously close. They report that high negative equity rates, which increased in the third quarter from 22.5 to 23.2 percent, will continue to drive foreclosures and “will be weighing on housing demand for the next few years.” Zillow’s Real Estate Market Reports publication had additional bad news for the nation’s housing market. They said, “Home value depreciation began to accelerate again in September, fueled by lower transactional volumes and increased inventory levels. Home values dropped 0.4% from August to September and 4.3% from September 2009. With home values 25% below their peak and 51 consecutive months of declines, the length and severity of the current downturn is fast approaching the length and depth of the Depression-era housing declines. From the end of 1928 to the end of 1933 (60 months), nominal home values fell 25.9% according to Robert Shiller’s reconstruction of long-term home price appreciation in the United States.” While the Louisville real estate market has been somewhat insulated from the worst of the foreclosure crisis, it is not immune. If you’re thinking of investing in foreclosed or non-foreclosed Louisville real estate as your primary residence or as income property, we have the area’s best selection. To learn more, just give Louisville Properties a call today at 502.744.9504.