Bank Owned Foreclosed Homes And Government Foreclosure Properties

Friday, September 18th, 2009

It is an undeniable fact that foreclosures are not good for cities and states but they surely provide investors and first time homebuyers with an opportunity to get homes at relatively lower price. Although a nationwide increase in foreclosures is clearly evident but there are some states where things are not really bad. North Carolina is one of the states where foreclosures have come down in recent months and Greensboro foreclosures have a role to play in it.

When you will check the data for foreclosures in Greensboro, you will see a great deal of decrease in number of listings. Following table is taken from caseydurango.com to highlight the fact that there has been a decrease in Greensboro foreclosures in recent times.

It is evident from this table that were 112 active foreclosures in the top but foreclosures are getting decreased by time. The duration between the 11/24/08 to 2/15/09 was the best from the economic point of view as the foreclosures were only 89.

To understand what is happening in different areas, you can consider following graph which shows the foreclosures in different zip codes.

This graph is also taken from caseydurango.com to give you an idea about the fact that foreclosures are going down in Greensboro. Here, you can see that zip code 27408 is the best in terms of foreclosures. In fact, there are no foreclosures at all during the first two weeks of February, 2009. In the same time period, the highest foreclosures were in 27406. But, the striking thing was about the consistent decrease in foreclosures. What it implies is that foreclosures are decreasing as a whole but zip code 27455 was a bit different with an increase in foreclosures.

The fact of the matter is that the number of Greensboro foreclosures is decreasing. In fact, it is considered that Greensboro is amongst those few cities where foreclosure rates are the lowest.

So, if you are interested in buying foreclosed homes in this area, you will have to go through a comprehensive search. But, there are foreclosure properties which is quite clear from the aforementioned tables and graphs. It is however essential to mention that if you want to buy a home at lower rates you must look for short sales. These are the people who don’t want their home to go into foreclosure. So, get in touch with them to save some money.

Posted in Foreclosure Statistics, Greensboro | No Comments »