One such report by the OFHEO is the the PMI 2nd Quarter Risk Index. This report is used as an indicator of the likelihood for failed mortgages - in the future. The report takes into account the likelihood of failure in the next two years. Thus the report looks to the FUTURE and is not a reflection of what the market has done in the past.
In the case of Missouri, I think the FUTURE and the PAST are very similar. We have not seen skyrocketing foreclosures in Missouri. In part, I think this is a reflection of reasonable closing costs in Missouri. This has not been widely discussed, but I do believe part of the mortgage mess we are in today is due to homeowners rolling in outrageously high closing costs into their loans.
Our office mainly serves three counties in Missouri: Laclede, Webster and Dallas Counties. We do not serve a top six market (we're actually in the middle of all of these) but here is how those six rate on the lastest US Market Risk Index:
| St Louis MO | Minimal | |
| Kansas City MO | Minimal | |
| Columbia MO | Minimal | |
| Jefferson City MO | Minimal | |
| Joplin MO | Minimal | |
| Springfield MO | Minimal |
To give you perspective, here are a few of the other areas/states:
| Ann Arbor MI | Low | 16.3 |
| Washington DC | Moderate | 26.0 |
| Carson City NV | High | 98.2 |
| Myrtle Beach SC | Elevated | 45.1 |
I think it's safe to say that Missouri is in pretty good shape and real estate remains a solid investment. Now is the perfect time to list your property because now is the perfect time to BUY Missouri property!
