We're happy to report that Dane County foreclosures continue to trend near historically low levels. Check out our chart below, which shows the August year-to-date numbers for every year dating back to the year 2000.

We'll continue to share periodic foreclosure updates in the months and years ahead. In the meantime, please feel free to reach out to us whenever you have any questions about the Madison area real estate market. We're always happy to help. 

How common are foreclosures in the Madison area? We've run the latest numbers from the Wisconsin Circuit Court database, and foreclosures continue to be a relatively rare event in Dane County. Through the first 7 months of the year, a total of 147 foreclosures have been filed, which is the fourth lowest total this century. 

We don't expect a significant increase in foreclosures anytime soon, and for a few key reasons: 

• Today's lending practices are much improved from the bad practices that preceded the foreclosure epidemic 15 years ago. 
• Many homeowners continue to enjoy a low monthly payment and a sub 4 percent interest rate. 
• Most homeowners have built up a large amount of equity in their home and are low-risk for ever being

Foreclosures were once a major source of housing inventory in Dane County, but not anymore. Check out this chart which shows the number of annual Dane County foreclosure filings dating back to the year 2000. 

Will foreclosures rise in 2022?

Many people are wondering, now that the foreclosure moratorium has been lifted, if we'll see a spike in bank-owned properties in the months ahead. Although we do expect foreclosure filings to rise in 2022, we don't expect the increase to be significant.

The reason is the number of people with delinquent mortgages is relatively low right now. Plus, many of the people who are behind on their payments do have equity in their homes, so they'll be able to restructure their loans and avoid foreclosure once they

Interested in buying a distressed property in Madison or the surrounding Dane County area? Mad City Dream Homes has all the tools you need to quickly identify foreclosures and short sale properties. Read on to learn how you can use our search tools to locate short sales and REO/bank-owned homes in the Madison area. 

Example: Searching for Madison Foreclosures 

1. Go to our property search page.
2. Type Madison into the Location filter.
3. Go to the Foreclosures filter and select REO/Bank Owned.
4. Click Refine Search.

Our search page will then display a list of REO/bank-owned foreclosures in the city of Madison. Note "REO" stands for "real estate owned" by a lending institution.  

Example: Searching for Madison Short Sales 

Many Madison area home buyers gravitate toward bank owned properties and short sale listings. In the right situation, an REO or short sale property can offer the prospective buyer an incredible value. We've assisted many clients with their purchase of a foreclosed home or condo, and we've seen our buyers achieve some amazing deals. But there are some caveats related to buying foreclosures in Madison. If you've been thinking of buying a distressed property, here are five things for you to keep in mind.

Before you Buy, Keep these 5 Things in Mind:

1. Distressed properties represent only one piece of the market, and the supply of foreclosures is decreasing. If you limit your search to REOs and short sales, you're missing out on the possibilities that