|
|
It is somewhat surprising to see 500 foreclosures. However, looking at the areas where they occur, it appears the East side of Iowa City has more. This may be due to the socio economics of the area. It is an area containing a more at risk population.
Sometimes people buy houses, not realizing it's not just being able to cover the mortgage. There are also the monthly and yearly expenses, such as utilities and taxes. Add to that replacing the roof or heater, and the costs overwhelm some homeowners, who may not have been aware of them and so didn't plan for them.
Another way of expressing the above is to say, "There are unexpected surprises in every home you buy, no matter how well you research it before purchasing it."
The foreclosures may also be an indicator on the growth of jobs as well as increased expenses in the community.
|
Locked
