Thursday, January 03, 2013

St. Louis County home values falling, foreclosures threaten entire market

The historic foreclosure crisis of the 2008 recession iss finally stabalizing, but in a large part of St. Louis County the damage is already done.

The north county home Kim Killian paid $70,000 for 19 years ago was recently appraised for re-financing.
“The company tells me the appraisal for my home is $28,000, and I’m like, you have got to be kidding,” she said.
A big part of the reason for the value of Killian’s home plummeting is the fact her home is an island in an ocean of foreclosures.
The problem isn’t just Killian’s, it affects every tax payer in St. Louis County.


  1. That's bad news. I think a lot of people will be greatly affected by this news, it's a huge thing to just mess with. I do hope that we can do something to make a change or at least lessen the blow to the home owners.

  2. Anonymous8:47 AM

    Charlie Dooley, the gift that keeps on giving. Or is it the disease that continues to fester and spread?

  3. Anonymous8:29 PM

    I wonder what her property taxes are based on. I know a lot of county assessors refuse to factor foreclosures into their assessment.