It's been in the headlines for months -- the number of foreclosures is sky high across the country.

But, analysts say the Chippewa Valley isn't suffering as much as many other places.

"We just have not seen the appreciation that the west, southwest, southeast have seen. So our appreciation and depreciation comes in much smaller numbers,” says RCU’s Chief Operating Officer Mark Willer.

ForeclosureAlarm.com, a Madison based web site, says every county in Wisconsin has seen an increase in foreclosure rates, but counties in the Chippewa Valley are on the lower end.

From the same time last year, data shows Eau Claire County’s foreclosure rate is up 33%. Compare that to 56% in Dane County. Chippewa County is only at 18%.

Willer says two main things affect foreclosure rates: housing values and unemployment rates.

"If there was a large or a spike in unemployment, you're going to see an increase in delinquency and an increase in the number of foreclosures,” he says.

But Willer says the work force is strong in the Chippewa Valley.

In fact, Eau Claire’s unemployment rate is 3.6%, which is on the lower end of the scales, since many other counties in the state are at 4% or 5%.

And Willer says the unemployment rates go hand-in-hand with housing values.

"Within our market, we just don't see the large influx of workers coming into the community or leaving the community, which can have an impact on home values.”

So he says, if employment rates are good, so are housing rates (which we're seeing in the Chippewa Valley) making it a great time to buy a house.

"You could call it a buyers market at this point, if houses are moving a little bit slower than they have in the past.” Willer says.