signs of foreclosure |
A strong reminder of just how far the economy fell in 2008 surfaced last week in Berrien County.
Officials reported the county set an all-time record for the number of property tax foreclosures this year with 1,538, about five times higher than 2010.
"It's pretty bad," Berrien County Treasurer Bret Witkowski said. "Normally, we'll foreclose on a couple hundred a year.
"It's a reflection of where Michigan was in '08 and where it is in '09 and 2011," he added. "It hasn't gotten better. There's a lot of speculation on the market. People thought it would never go down, which led to the perfect storm where people have massive amounts of real estate at a low price."
Thursday was the final deadline for delinquent properties owners to pay their 2008 property taxes before the treasurer's office seized the property. Hundreds of those properties, which include homes and businesses, will go to the property auction later this year.
In addition to the 1,538 properties, Witkowski said 253 property owners have so far avoided foreclosure because they worked out some sort of payment plan with the county and were granted extensions.
"We want to see some effort," he said.
Witkowski said when the deadline approaches, the county sends out two or three notices and even pays the property owners a personal visit to remind them of their responsibility.
Witkowski estimates that 90 percent of the foreclosed properties are occupied, and added most of the people who live there are renters. He said the treasurer's office works especially hard on foreclosed homesteads so people aren't forced out of their homes.
Last year there were 275 foreclosed properties, compared to 160 in 2009 and about 170 in 2008.
Witkowski estimates the same crisis is going on in other counties across the state.
He added Berrien County's taxable value is actually stable and likely ranks in the top five in the state.
Last year, the county lost only about 1 percent on average in its taxable value, compared to other counties such as Wayne and Genesee that lost 8.5 and 11 percent, respectively.
