(Editor’s note: This is the first in a three-part series about the Madison County housing market in the second quarter of 2008. Wednesday’s story will report on home construction statistics, with home sales statistics to come Thursday.)
Madison County home foreclosures continued to spiral upward in the second quarter of this year.
Foreclosures totaled 86, up from 61 in the first quarter, an increase of nearly 41 percent, according to Madison County Master Commissioner David Baird.
The 147 foreclosures for the first half of 2008 is only two fewer than in all of 2006.
If the pace of foreclosures continues for the rest of the year, it could exceed the county’s 2007 total of 217 by 35.5 percent.
Foreclosures in 2007 were 45.6 percent more than the 149 foreclosed in 2006.
Across Kentucky, foreclosures were up nearly 16 percent from April through June, according to RealtyTrac.com, an online real estate service.
Nationwide, second quarter foreclosures rose nearly 14 percent, according to RealtyTrac.
Local foreclosures started a steep increase about two years ago, said Baird, who has been master commissioner for 11 years. Madison County foreclosures numbered 136 in 2005.
A referral to the master commission does not always result in an auction, Baird said.
The owner can reach an accommodation with the lender or the owner may file for bankruptcy. Jurisdiction then passes to federal bankruptcy court.
Madison County foreclosure auctions typically take place on a Wednesday or Thursday, after they have been advertised once a week for three weeks in the Richmond Register’s classified pages.
No foreclosure sales are scheduled for this week or next, but that does not indicate a slowdown in foreclosures. Baird and his staff will be on vacation.
When sales resume in August, they will be conducted at the front of the Madison County Courthouse, as is done in most Kentucky jurisdictions, the master commissioner said. Previously, Baird conducted foreclosure auctions in front of the properties being sold.
“With the price of gasoline at $4 a gallon, I think we may be able to attract more buyers by selling properties at one central location instead of them having to follow me around the county,” Baird said. “Finding a buyer is good both for the lender and the unfortunate person whose home is being foreclosed.”
Bill Robinson can be reached at brobinson@richmondregister.com or at 623-1669, Ext. 267.
Local News
Local home foreclosures continue upward surge
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Friday at library : Lecturer to portray founder of Berea
John G. Fee, abolitionist and founder of both Berea and Berea College, will be portrayed Friday night by performer Obadiah Ewing-Roush as part of Kentucky Humanities Council Chautauqua performance series at the Madison County Public Library. There is no charge to attend the 7 p.m. event.
As the son of a slave-holding father, Fee witnessed firsthand the benefits of having slaves and the profits that could be made from their labor. When he graduated from college and enrolled in Lane Theological Seminary, he began to understand the inherent wrong and destructiveness of slavery. -
Berea woman dies Tuesday in Laurel County crash
A Berea woman, Tommie Johnson, 60, died Tuesday evening in a Laurel County crash, according to the the Laurel Sheriff’s Office.
The accident took place about 7 p.m. at the junction of Maple Grove Road and KY 363 south of London, as Johnson was attempting to turn onto the state highway.
Laurel County Chief Deputy Eddy Sizemore said Johnson’s Chevrolet Cavalier pulled out in front of a Dodge Durango driven by Charles Joseph, 19, that was traveling south on KY 363.
After being extricated from her vehicle, Johnson was transported to St. Joseph-London hospital, where she was pronounced dead.
Joseph also was transported to the hospital, where he was treated for minor injuries, according to the accident report. -
Finally February
Ian Rosser, an Eastern Kentucky University student from Lexington, clears snow from his car parked on campus Wednesday
morning after about an inch of snow fell in Richmond. Temperatures are forcast to be in the upper 40s today. Kentucky has seen a lot of rain in the past few months, as was predicted by the Farmer's Almanac, but very little snow has fallen. -
Volunteers needed for equine therapy
The Appalachian Foothills Therapeutic Equestrian Center will be hosting two, one-day volunteer training workshops for those interested in helping others with special needs.
The volunteer orientation days will be Friday and Saturday from 10 a.m. to 3 p.m., but only one day of training is required, according to Mark Martin who co-owns Appalachian Foothills Therapeutic Equestrian Center (AFTEC) with his wife Cheryl.
The all-volunteer organization, which is based in Jackson County, uses horses to help humans deal with physical and emotional challenges. -
Man accused of holding samurai sword to girlfriend’s throat
A Madison grand jury will hear the case of a man accused of threatening to cut his girlfriend’s head off, and attacking her father with a samurai sword.
Russell M. Masters, 42, of Richmond, is charged with two counts of first-degree wanton endangerment, which is a Class D felony, and fourth-degree assault (domestic violence with minor injury) and resisting arrest, which both are Class A misdemeanors. Masters could receive one to five years in prison on each wanton endangerment charge, and the misdemeanors both carry a maximum sentence of one year in jail. -
Arrest made in connection with stolen jewelry, computer
Richmond police have made an arrest in connection with property stolen from two homes last fall.
A woman reported to police Monday that she had discovered several items that were missing from her home on South Killarney Drive and her grandmother’s home on Raintree Drive, according to Richmond Police Chief Larry Brock. The items were a set of gold hoop earrings, a white Sony Vaio laptop, a yellow gold heart pendant, a gold tennis bracelet and a ladies’ wedding band with a diamond setting.
The complainant said the belongings had gone missing sometime between August and October. -
US 25 business owners scared of five-lane plan
Voices of Berea business owners upset about upcoming construction on US 25 will be taken to the state level, according to city administrator Randy Stone.
Several people operating businesses along a section of US 25 gave comments Tuesday to the Berea City Council, asking them reconsider plans to widen the road to five lanes.
The design is a five-lane highway with a center turn lane and a 10-foot shared use path on one side and a 5-foot sidewalk on the other side. -
Grand jury to hear copper theft case
The attorney for a man accused of stealing copper from a handful of electric poles questioned his identification as the same person who took copper from 32 poles two days earlier.
Public defender Meena Mohanty questioned Richmond police officer Nicholas Duvall during a preliminary hearing Wednesday in Madison District Court. Her client, Jeffrey W. Nester, 46, of Fourth Street, was arrested in connection with a Jan. 23 copper theft. He is charged with second-degree criminal mischief, theft by unlawful taking, possession of burglary tools and failure to notify address change to the Department of Transportation. These charges are all misdemeanors that, at most, carry a sentence of one year in prison. -
Judge weighs constitutionality of legislative redistricting
Kentucky’s deadline for filing to run for legislative seats was in flux on Monday because a judge did not immediately rule on a lawsuit challenging the constitutionality of newly redrawn district boundaries.
Franklin County Circuit Judge Phillip Shepherd said he expects to enter a ruling in the case by mid-week.
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Couple recovering from injuries suffered in weekend house fire
A couple was hospitalized after their home was set ablaze Sunday by a spark from a cigar, according to a county fire official.
County Fire Chief Jim Cox said the city and county fire departments were called to the home at 111 Concord Road in the early afternoon. Waco Volunteer Fire Department and the Richmond Fire Department also responded.
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