Baldwin’s foreclosure rate remains steady

The rate of foreclosures in Baldwin Township in 2010 remains about the same as it was last year, according to foreclosure listings put out by the Sherburne County Sheriff.

In 2009, there were 49 foreclosures in Baldwin, with 27 occurring between Jan. and July of that year. From January through July of this year there have also been 27 foreclosures.

How does this compare to foreclosure rates in neighboring areas?

Princeton's foreclosure rates are similar to Baldwin's and also appear to be keeping the same pace as last year's rates. Baldwin foreclosures listed with Princeton addresses made up about 54 percent of the total foreclosures with Princeton addresses for both the entire year in 2009 and Jan. through July of 2010.

While Princeton and Baldwin seem to be holding steady, Zimmerman's foreclosures are skyrocketing.

In 2009, Zimmerman had 138 foreclosures. From January through July of 2010, there have already been 101 foreclosures in the area. And Baldwin residences with Zimmerman addresses make up only a small fraction of that -- 15 of Zimmerman's foreclosures in 2009 were in Baldwin, and only 8 of Zimmerman's foreclosures from Jan. through July of this year have been in Baldwin.

How will this influx of foreclosed homes affect the developments sitting unfinished in the area? When people begin to buy again will they be looking for old vacancies or newly constructed homes?

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