Hartford Business Journal

www.HartfordBusiness.com March 20, 2017 • Hartford Business Journal 7 REAL ESTATE Analysis: CT's foreclosure crisis was among worst in U.S. Connecticut was one of 10 states in the country hit hardest by the foreclosure crisis, according to a fresh report from property analytics firm CoreLogic. The Nutmeg State was among the top 10 states with the high- est foreclosure rates at its peak in 2012 as well as at the end of 2016, according to CoreLogic. The foreclosure crisis began in some parts of the country 10 years ago, as early as 2007 and later peaked nationwide in Sept. 2010 in most states, with approximately 120,000 completed fore- closures occurring during that single month. Connecticut's foreclosure rate peaked at 4.6 percent, and re- mains today at 1.4 percent, which is sixth highest in the coun- try overall. Meantime, Connecticut's foreclosure inventory peaked in 2012 when there were 22,000 homes in foreclosure. Nationally, foreclosures peaked in 2010 with approximately 1.2 million foreclosures for the year — closely followed by just over 1 million completed foreclosures in 2009, CoreLogic said. WHAT'S AHEAD: ■ 3/27 Focus: Manufacturing ■ The List: Largest Export-Import Bank Deals ■ Nonprofit Profile: CT Conference of Independent Colleges CALENDAR THURSDAY, APRIL 6 The Distressed Property Investment Forum South Windsor's RCN Capital is hosting a distressed property investment forum that will bring together residential and small commercial property investors, REO experts, industry experts, and other real estate professionals for a night of networking and education. The April 6 forum, which runs from 5:30 p.m.to 9 p.m. at 75 Gerber Road East, South Windsor, aims to allow attendees to connect with industry peers, develop new business partnerships, meet prospective clients and catch up on key trends and topics in the real estate investing markets. Topics that will be discussed include REO inventory and fix-and-flip investing. Cost to attend is $30 for general admission; $35 to register at door. For more information or to register contact: Erica LaCentra, 860.432.4782, elacentra@rcncapital.com. F O R A C O M P L E T E L I S T O F G R E A T E R H A R T F O R D B U S I N E S S E V E N T S , G O T O W W W . H A R T F O R D B U S I N E S S . C O M A N D C L I C K O N ' C A L E N D A R . ' A L L C A L E N D A R I T E M S M U S T B E S U B M I T T E D E L E C T R O N I C A L L Y V I A O U R W E B S I T E , H A R T F O R D B U S I N E S S . C O M . CBIA Health Connections – Connecticut's leading small business insurance program – offers you the best combination of value, service, and choice in a single program. It's easy to administer and backed by industry-leading customer service. Medical plans from ConnectiCare and Harvard Pilgrim Group and voluntary dental, life, disability, and vision options Employee wellness program One bill; one number to call for personal service Join the thousands of Connecticut small businesses who choose CBIA Health Connections. Contact your agent for a quote or visit cbia.com. Why do Connecticut small businesses choose CBIA Health Connections for insurance? cbia.com/insurance | 860.244.1900 Savings, Simplicity, and Service MANUFACTURING South Windsor firm wins European bone implant patent South Windsor's Oxford Performance Materials Inc. said it has been granted a European patent for its biomedical division's cus- tomized bone replacement implant. The European Patent Office's approval of the patent, which took effect on Dec. 21, 2016, will be valid until Aug. 7, 2029. It enables OPM to apply its additive manufacturing process to 3D print cus- tomized implants for bone replacement, the company said. The so-called OsteoFab process combines 3D printing with a material chemistry that produces implants with bone-like me- chanical properties, among other features. The patent represents a "milestone" for the company, since it will allow OPM to continue to expand into the European market, said Severine Zygmont, president of OPM Biomedical. States with the highest peak foreclosure rate then and now S O U R C E : C O R E L O G I C M A R C H 2 0 1 7 Peak Foreclosure % Dec. 2016 Foreclusure % FL NV NJ IL NY CT ME MD HI AZ 14% 12% 8% 10% 6% 4% 2% 0% 12.5% 8.5% 7.4% 5.6% 5.3% 4.6% 4.4% 4.4% 4.4% 4.4% 1.5% 1.0% 2.8% 1.0% 1.0% 0.3% 1.7% 2.8% 1.4% 1.8%

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