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Local foreclosures and home values rise

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Local foreclosures and home values rise

KGMI News Reporting
By Mike Curtiss

Home values are going up, but so is the foreclosure rate here in Whatcom County.

The Federal Housing Finance Agency shows that local home values rose 1.9 percent in the first quarter of 2013 compared to the year before.

Real estate researcher Glenn Crellin says Whatcom County is seeing home values rise at a much more stable rate than in King County.

According to Corelogic, foreclosures in Bellingham increased by one-third of a point in March compared to the year before.

Crellin says Washington’s Foreclosure Fairness Act delayed some foreclosures from 2012 until 2013, but it also prevented many foreclosures.