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Foreclosures in Beverly declined drastically

Posted by Justin Rice  October 24, 2011 10:57 PM

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Statewide, foreclosure activity has dropped significantly this year, according to the Warren Group, which compiles housing data.

Across the board, petitions for new foreclosures, auctions, and completed foreclosures are down dramatically from the year before.

For town-by-town foreclosure statistics, click here.

Petitions dropped more than 60 percent, from 103 last year to 40 so far this year in Beverly.

The number of foreclosures deeds, a yardstick for completed foreclosures, also decreased in Beverly, from 38 last year to 23 so far this year.

“In order for the market to recover, the glut of foreclosures hanging over the market needs to go through the system,” said Timothy M. Warren, a group cofounder, in a statement. 

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