News from the wire:

From Boston Business Journal

The Boston metro area is number 48 on a list of 100 metropolitan areas ranked by foreclosure rates in the third quarter of 2007.

The survey was issued Wednesday by RealtyTrac Inc., an online marketplace for foreclosure properties.

From the Globe:

Worcester and Boston/Quincy ranked 32nd and 48th respectively on a national survey that compiled home foreclosure rates among the country’s 100 largest metropolitan areas during the third quarter.

So, let’s be good reporters and take five extra seconds to put this thing in perspective so that it is actually useful to you, a reader.

There are 363 Metropolitan Statistical Areas (MSAs) in the United States, according to Wikipedia.

The top three are:

1 New York–Northern New Jersey–Long Island NY–NJ–PA 18,818,536 people
2 Los Angeles–Long Beach–Santa Ana CA 12,950,129 people
3 Chicago–Naperville–Joliet IL–IN–WI 9,505,748 people

Boston is the 11th largest MSA, with around 4.4 million people.

But, “Boston” is a misnomer, since the area is actually “Boston-Cambridge-Quincy, MA-NH”, whatever that means.

Worcester is the 64th largest MSA, with around 785,000 people.

So, two things.

First, reporting the foreclosure numbers for such large areas is somewhat limited in usefulness.

Second, if Boston is the 11th largest MSA but is only 48th out of the top 100 MSAs, then we’re doing pretty well, right?

Worcester? Not so much.

Source: Report: Foreclosure filings up in Boston – Boston Business Journal

Also: Foreclosure rates on the rise – The Boston Globe

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Updated: 1st Q 2018

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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