Welcome to Real Estate Foreclosure Guide
Real Estate Deals Foreclosure Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Top Real Estate Foreclosure States
from:In the first quarter of 2008, RealtyTrac listed Nevada as the state with highest rate of foreclosures. It was 3.6 times the national average and became #1 of top real estates foreclosure states. The runner up, not surprisingly, was California. Foreclosure rates continue to climb at 32% from the previous quarter and show no signs of leveling out. Arizona was next with an increase of 45% from the previous quarter but with far fewer filings based on numbers alone when compared to California. There were 169,831 filings in California when compared to Arizona's 27,404. Florida and Colorado remain in the top real estate foreclosure states, still in the top five.
Why These States?
There are a lot of reasons why these particular markets continue to show up as the top real estate foreclosure states in the United States. The housing bubbles in these areas and speculation from investors drove prices so high that after the bubble burst, the housing depreciation left many homeowners who bought high owing much more than what their home is worth now. Seeing this sad state of affairs, homeowners decided it was far better to return the keys to the lender than to try to keep up a mortgage that was a losing investment. Add to that the problems with the loss of jobs in these states when the bubble burst and that was a perfect recipe for a mortgage meltdown.
Previously Hot Inner City Markets
During the time when people were buying into a high real estate market, they mostly picked large cities where they felt prices would continue to increase and the jobs were plentiful. So, the cities most affected were: Las Vegas, Detroit, Miami, Atlanta, and Los Angeles. House builders began to provide more and more housing in this area, building it up, to a point where, when the bubble burst, the inventory far outlasted the number of new buyers. Now, you can go into neighborhoods in these top real estate foreclosure states and see row after row of abandoned and foreclosed homes for sale.
Keep An Eye On Inventory And Foreclosure Rate
The turn-around in these top real estate foreclosure states will happen when the inventory of homes begins to decrease as the foreclosure rate declines too. Until then, either one or the other make the top real estate foreclosure states a buyer's market at deep discounts to some of the previous prices that homes were going for before the bubble burst. Some experts suggest it will be many years before the inventory drops sufficiently to signal a turn-around in the top real estate foreclosure states.
Real Estate Deals Foreclosure News
Got Realtor Lock Boxes? Put Cash in Your Pocket, Sell Real Estate Lock Boxes at LockBoxSwap
LockBoxSwap is actively seeking realtor lock boxes to purchase from real estate agents, brokers, and associations who are looking to sell unused real estate lock box inventory. If your association has recently switched from Supra® lockboxes to SentriLock®, or vice versa, LockBoxSwap is prepared to be that direct source to sell real estate lockboxes in one simple bulk transaction.(PRWEB) May 24 ...
Read more...The Volume Of Foreclosures Within Miami Drop As Lenders Assist In The Market Recovery Process
Miami foreclosures have been among the prime options for property buyers who are looking for the most affordable real estate within the fabulous region located right on the Atlantic coast of South Florida.
Read more...Real estate transactions
Real estate transactions HOUSTON CHRONICLE Copyright 2012 HOUSTON CHRONICLE. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Published 12:59 a.m., Saturday, May 19, 2012 Westmount Realty Investments, a Dallas-based real estate investment company, has provided senior joint venture equity to HM Equity Management in Houston, to acquire the Silver ...
Read more...Real Estate Agents See Spring Home Sales Warming
Full content sent to and hosted by Yahoo!General NewsHealth & MedicineIndustry SnapshotNew Issue AmericaReal EstateTop 10Feature StoryInvestor's Corner
Read more...Choosing Foreclosures On The Market: Three Aesthetic Setbacks You Can Turn Into Opportunities
If you have been looking for the most affordable real estate deals within South Florida today, you should definitely check out Miami foreclosures because no other option in the region will be able to provide you with better property prices for real estate within one of the most highly sought after locations in the United States.
Read more...