Foreclosures are everywhere – just drive through a random neighborhood in a random city to see the evidence for yourself. According to the latest numbers, 2.7 million foreclosures have occurred from 2007 to February of this year. What’s worse is that this represents only 43% of the amount of residential foreclosures expected to hit the markets over the coming years – which means the foreclosure crisis will continue.

For investors and homebuyers looking for fantastic deals, though, this means more opportunities to pick up severely discounted homes and take advantage of foreclosure discounts – the difference between the average selling price of home foreclosures and the selling price of non-foreclosure homes in the same neighborhood.

Where, exactly, will these deals be found? A top 10 list of states with the largest foreclosure discounts is given below (and the results might surprise you):

1. Oklahoma

Average foreclosure discount: 60%

The highest foreclosure rates here are found in the metro areas of Oklahoma City and Tulsa.

2. Kentucky

Average foreclosure discount: 52%

Kentucky has a pretty low foreclosure rate, with most foreclosure properties located along the Ohio River.

3. Texas

Average foreclosure discount: 46%

As with other states, metro areas carry the highest foreclosure rates – particularly Dallas, San Antonio, and Houston.

4. Michigan

Average foreclosure discount: 43%

The vast majority of home foreclosures in Michigan are found in the greater Detroit area. Michigan also has the highest foreclosure rate of the top 4 states on this list.

5. Delaware

Average foreclosure discount: 42%

Providence is the key location for foreclosures in Delaware, which has a foreclosure rate of one out of every 498 homes (as of October, 2011).

6. Pennsylvania

Average foreclosure discount: 41%

Foreclosures here are primarily consolidated in the Philadelphia metro area as well as York, Bucks, Monroe, and Berks counties in the Delaware Valley.

7. Louisiana

Average foreclosure discount: 39%

As expected, the highest foreclosure rate is found in New Orleans, with another concentration in Monroe, in northern Louisiana.

8. Illinois

Average foreclosure discount: 39%

One of the hardest-hit states in the country, Illinois’ foreclosures are massed in Chicago and the greater Chicago metro area.

9. Georgia

Average foreclosure discount: 37%

Georgia is almost a mirror image of Illinois in that most of the foreclosures in the state are found in one main area – here, in the greater Atlanta metro area. The state is also one of the hardest-hit states in the country, with a foreclosure rate of one out of 406 housing units.

10. Maryland

Average foreclosure discount: 36%

Most of Maryland’s foreclosures are located in Carroll, Charles, and Prince George’s counties. The state’s rate as a whole is better than average, which means repo homes are not as easy to find but are worth it.

States to really take note of in the above list are the ones that have both high foreclosure discounts and high foreclosure rates. This means housing supply is plentiful, and discounts are relatively easy to find. These states include Georgia, Illinois, Michigan, and Delaware.

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It’s no secret that widespread foreclosures have gutted neighborhoods and decimated communities, leaving a lasting impact on families and businesses alike. And while there are plenty of terrific deals available with thousands of foreclosed properties for sale on the market, everyone in the industry still believes that a healthy, vibrant real estate sector is the best overall situation for the country.

One intriguing bit of analysis that has emerged from those studying the foreclosure crisis and its implications for the country is this: Areas with good schools tend to have fewer foreclosures.

On the surface, that sounds pretty obvious. After all, good schools tend to be located in districts that are well-funded with property taxes paid by homeowners with higher-than-average incomes – and, as a result, higher valued homes. And we know that foreclosures hit average to below-average income households at a higher rate.

But, foreclosures also happen to higher-end neighborhoods as well. And residential foreclosures can be found in virtually any area and in any class, so the relationship between good school districts and foreclosure rates is very intriguing.

What can be gained from studying this association?

First and foremost there should be a drive to improve schools in areas with higher foreclosures rates. If the schools are improved then middle to upper class families are more likely to be drawn to the area, which could thereby decrease the foreclosure rate and increase the local community.

It is also important for those trying to sell homes in areas with great schools to utilize these schools in the real estate marketing initiatives. If many people move to a given area and stay in areas with great schools, then it only makes sense to talk about these incredible schools when trying to sell homes in the area.

In the end, areas with great schools tend to have lower foreclosure rates and therefore have a strong real estate market. If you are looking to buy a new home in an area that has a relatively stable real estate market then it may be time for you to find out which neighborhoods are located near the best schools in the area. Furthermore, if you are a real estate professional then make sure to advertise the nearby schools in marketing initiatives.

When it comes to foreclosures, the surrounding schools truly do matter and can be an indication of the area’s real estate strength and stability.

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When it comes to foreclosures, it appears as though location plays an integral part in the foreclosure rates. Obviously when you consider the national average, there are some areas with foreclosure rates that are lower than that average, as well as some places with foreclosure rates higher than the national average.

Let’s take a look at Memphis, Central Valley, and the Twin Cities to get an idea of how the rate varies depending upon the location.

Memphis

Although the foreclosure rate in Memphis, Tennessee still rests below the national average, there has been an increase in foreclosures. Specifically, that national average for August was 3.43%, with Memphis coming in around 2.6%. However, in comparison to August of 2010, that 2.6% is an increase of about half a percent, which indicates an increase in foreclosures.

Despite the small increase, the three month delinquency rate was actually down in Memphis. Those familiar with the Memphis real estate market and local economy attribute high unemployment rates to the slight increase in the foreclosure rate.

Central Valley

On the other hand, cities like Central Valley in California have actually experienced a decline in foreclosure rates despite the fact that California was one of the states hit the hardest by the real estate market crash. According to CoreLogic, the foreclosure rate for Stockton fell to 3.57% for August of 2011 in comparison to 4.79% for August of 2010. However, unlike Memphis, the Stockton foreclosure rate is above the national average of 3.43%. Foreclosure rates for Visalia-Porterville, Bakersfield-Delano, Hanford-Corcoran, and Sacramento also decreased.

Twin Cities—Minneapolis and Saint Paul

Although some cities have increased their foreclosure rates (Memphis) and others have decreased their foreclosure rates (Stockton), some cities have remained relatively stable over the last year. When it comes to the Minnesota Twin Cities of Minneapolis and Saint Paul, the foreclosure rate from August of 2010 to August of 2011 only differs by 0.01%. The foreclosure rate for August 2011 rests at 2.05%, significantly lower than the national average of 3.43%. Furthermore, delinquency rates are down to 5.03% from 5.63% last year.

In conclusion, the foreclosure rate varies throughout the country depending upon the location. Some cities are experiencing declines in foreclosure rates while others are showing increase or stability from August 2010 to August 2011.

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Foreclosure rates have picked up lately, especially in the hard-hit areas of the country that were exposed to thousands of bad mortgages, high unemployment, and other staples of the housing crash and subsequent recession over the past few years.

One state that has received more foreclosure attention than normal is Georgia, particularly its capital, Atlanta. Reports released today indicate that Atlanta foreclosures rose by 16% from August to September. The number of monthly foreclosures – 8,845 – is still down from the peak of 13,834 experienced in November, 2010, but is still almost five times higher than the 2,000 or so notices a month received during what most would consider a normal year.

The greater Atlanta metropolitan area is home to 5.27 million people and is the ninth-largest metro area in the U.S. Unemployment stands at 10.4%, and an estimated 21.8% of the population lives below the federal poverty line. With these demographics, it is easy to see how high foreclosures are common in the metro area compared to the national average, even with the bustling telecommunications and media industries located in the city.

The median asking price for all homes – traditional homes and distressed properties – currently stands at $159,900, with 61,955 homes listed for sale in the metro inventory. This latter number has actually decreased by 24.3% from this time last year, accompanied by a 5.9% decrease in the asking price. In other words, supply and price are both gradually decreasing – even as foreclosures are going up monthly. Why is this?

One possible explanation is that many people are turning to the Atlanta area for great deals on foreclosures, which have actually gone down on a year to year basis from 2010. (The increase cited above is a monthly increase of 16%). The foreclosures that make it to the market drag down the median price even as they are purchased. This could also further the issue by making more homeowners wait before selling their homes because of falling prices.

Of course, the inventory number listed above only includes homes that are listed for sale. It does not take into account the shadow inventory for the city, which undoubtedly adds a few thousand more homes to the total overall supply of houses. If one factors this into the equation, it is very easy to see how conditions could be even better for potential home buyers in Atlanta, one of the main cities in the South for foreclosure deals.

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A report released today by CoreLogic suggests that the nation’s shadow inventory – comprised of distressed properties that have not yet been listed for sale – is shrinking.

The report reveals that existing supply of unsold distressed properties currently stands at 1.6 million units, or six months worth of supply. If we look back one year ago, that number stood at 1.9 million, or about six months worth of supply (assuming roughly 300,000 units sold per month).

Shadow inventory is a good stat to track because it reveals the underlying strength or weakness of a housing market. For the domestic market we have in the States, high shadow inventory suggests that distressed properties are being lost to the bank at a rate that causes a glut of supply without corresponding demand from buyers.

This glut in supply causes home values to drop in particular areas – areas that feature a high density of foreclosures and other distressed properties – and has a compounding effect: Since these properties weigh down a bank’s balance sheet as nonperforming assets, they make lending more difficult for banks, which in turn further complicates the supply-demand issue.

A solid recovery will not take place until shadow inventory falls to manageable levels, which will not occur until the enormous amount of pending foreclosures and current foreclosures and REOs– homes that have actually been listed for sale yet haven’t sold – are processed and taken off the market by being bought.

In a related trend, other aspects of the housing market appear to be improving, at least at first glance. In Massachusetts, for example, housing sales rose in August as more people are buying homes than they were during the first eight months of 2011. Median home prices fell, though, primarily because people in that state were looking at cheaper properties, particularly distressed properties and foreclosures.

This is a similar story across the nation. Home values continue to fall on a year-to-year basis, even though they have actually increased a bit over the past four months. These two trends put together suggest that the supply of foreclosures and other existing homes is weighing down the market, but a combination of loan modifications and investors and homebuyers shopping for great deals in mass is providing some relief – evident in the number of home sales rising along with the shadow inventory shrinking.

Whether or not this can withstand hundreds of thousands of additional foreclosures entering the market over the next year has yet to be seen.

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The foreclosure pipeline just keeps getting longer while still remaining clogged, according to new numbers released today.

Figures contained in the July Mortgage Monitor Report produced by LPS Applied Analytics indicate that the foreclosure pipeline – filled with anything from delinquent loans to homes actually owned by the lender – has grown significantly. Case in point: The average loan has been delinquent for 599 days.

In other words, the average loan has gone 1.5 years from becoming delinquent to actually being sold. That is astounding yet not all too surprising, considering the average time in the pipeline in, say, New York is a staggering 693 months (that’s over 57 years).

There are some other interesting bits of information in the report. For example, first-time foreclosure starts – new foreclosures that enter the foreclosure market – were down at three-year lows, primarily because lenders just are not processing foreclosures like they would be in a normal market. Also, first-time delinquencies were just 25% of new delinquent inventories, which means fewer homeowners are becoming delinquent for the first time (most delinquencies now are from repeat offenders, in a manner of speaking).

Furthermore, the percentage of homeowners who are delinquent for more than 24 months – or over two years – has grown dramatically over the last two years, from 6% to 37%.

What is the practical takeaway for all of this? What do these numbers mean for the market and whether or not you should buy?

In essence, the foreclosure pipeline is getting longer and is contributing to the excess inventory of foreclosures and distressed properties in the country. Buying now could be highly advantageous because inventory that is being stretched out represents price leverage for a buyer. In other words, banks have to manage tons of distressed properties on their books, and it is taking longer and longer for them to process the properties and sell them.

Buyers can use this to their advantage and tender lower offers in exchange for the property. Now may be a perfect time to buy for investors wanting the best advantage possible.

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Most cities and metro areas hit hard by the foreclosure crisis are depicting the same housing market scenario — a large percentage of the total number of homes for sale consists of foreclosed properties. These foreclosures are considered to be the bane of the real estate market as they tend to adversely impact home prices. It is therefore a good sign if there are reports of shrinking inventory.

According to a new report from Standard and Poor’s Rating Services, the volume of foreclosed properties which are set to enter the for sale market (or most popularly known as shadow inventory) has been shrinking since mid 2010. For the second quarter, the estimated number of months it will take to clear the foreclosed property supply is at 47 months.

Meanwhile, there have also been reports of growing number of distressed homes sold. In some cities, these properties have grabbed a fair share of the total home sales.

Attracting Local and Foreign Buyer Interest

The shrink in inventory – both shadow and actual foreclosure sales – can most likely be attributed to two things.

For starters, lenders have finally realized they need to work with the distressed borrowers in order to stop foreclosure either via loan modification or short sale. It took many of these lenders a long time to realize that foreclosure is expensive and in states which practice judicial foreclosure, it can take a while before they can get their hands on the property.

The other reason for the shrinking inventory could be because of the many home buyers and investors, domestic and abroad – who are taking advantage of the investment opportunities these properties are offering. After all, foreclosures are usually priced 20 to 50 percent less of their current market values, which obviously spell affordability.

It should really not come as a surprise if distressed houses are attracting this much buyer interest. They are real estate properties and since time immemorial, these types of properties have always been considered safe investments. Although the market is currently not in tip top condition, recovery will happen and you will be pleased with yourself for adding these homes to your portfolio.

ForeclosureDataBank.com – where real foreclosure deals happen

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Foreclosures have inundated the real estate market for years now, and like Hurricane Irene, have flooded entire areas of the country. Unlike the floodwaters brought on by the hurricane, though, this flood of foreclosures won’t go away any time soon.

Numbers released today reveal that the foreclosure backlog has grown to unprecedented proportions at this point in time. At present rates, the number of delinquent mortgage loans and outright foreclosures in New York, for example, would take a staggering 57.75 years to clear out – with New Jersey right behind at 51.75 years.

The average for the country as a whole is 4.25 years.

The pipeline has become clogged lately because of two factors: The sheer amount of foreclosures and delinquencies brought on by the recession; and lenders taking their time processing foreclosures because of the robo-signing scandal that still hasn’t been settled.

For investors and homebuyers, this is good news – more foreclosures will remain on the market, further dragging down home values (to where they should really be in a non-inflated world). For current homeowners, the drop in home values could hurt them and result in more negative equity situations.

As a result of the crushing weight of foreclosures on the market, homeowners have turned to alternative methods of avoiding foreclosure in droves. Short sales have risen gradually over the years, and most recently jumped up 2% from the first quarter to the second quarter on average across the country. In California, that increase was 7%.

More short sales are actually good for homeowners as well, since they allow current homeowners who are delinquent or underwater to avoid foreclosure. Plus, since these homes largely stay occupied, they retain value far more than foreclosures – which means a neighborhood will not take nearly as large a hit on prices as they would normally with an excess of foreclosures.

One solution to capitalize on this movement would be to help make short sales easier, which was the goal of the Home Affordable Foreclosure Alternatives (HAFA) program from the federal government. This program’s success has been less than ideal, but the government was at least on the right track.

With or without more government intervention, short sales will continue to rise in popularity as an alternative to foreclosure, all in an effort to combat the massive foreclosure backlog and help shore up prices.

Don’t count on the foreclosure market going away any time soon, though. It’s here to stay.

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The foreclosure market continues to expand as we head into September, with fewer foreclosures taking place overall but more delinquencies occurring this year.

For the first half of 2011, foreclosure rates fell visibly, stemming from the foreclosure scandals that have rocked the industry over the past year. For the second quarter of the year, according to the Mortgage Bankers Association, foreclosures fell again yet were accompanied by another troubling sign: Rising delinquencies.

Information released today reveals that the national default rate was approximately 8.44% – 12% higher than they were in the first quarter of 2011. This is dramatically lower than the levels of delinquencies seen in 2010, but the rise in mortgage loan defaults indicates that more foreclosures are coming down the pipeline.

Approximately 4.43% of home loans were in the foreclosure process at the end of the second quarter, which is down 9% from the first quarter.

If you look at individual states, you can see a lot of the same themes. New Jersey foreclosures are down, for example, but a recent moratorium on foreclosures was lifted. Nearly 40% of all subprime housing loans in that state are delinquent, with nearly 8% of prime loans suffering the same fate. Overall, the 11.36% foreclosure/delinquent rate is the third highest in the country.

Delinquencies also increased in Iowa, which is usually a pretty good cross-section of the Midwest. The amount of homeowners who are delinquent on their loans rose to 5.83%, which is still well below the national figure of 8.11% (which also rose).

As you can probably tell, the foreclosure market is facing an expansion to make up for the artificial contraction it faced with the first part of this year. This contraction was forced by tighter foreclosure processes in the wake of legal troubles with major lenders, so as these restraints are gradually lifted, the market will gradually respond in a big way.

If you haven’t been considering buying foreclosures now, the wealth of supply that already exists and will only grow larger may make you reconsider that decision in the coming months.

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Foreclosures have been the talk of the country over the last few years as banks obtain ownership of these properties due to delinquent payments. Although high foreclosure inventories often lead to abandoned properties and falling home prices, investors and potential homeowners can use both of these facts to achieve an incredible deal. However, are there still surpluses of foreclosed properties on the market that are worth investing? The answer is YES!

There are so many foreclosure properties on the market right now that even Fannie Mae and Freddie Mac are doing their part to alleviate the burden of their high inventory. They are offering to subsidize investors in an effort to reduce the foreclosure inventory. Many investors are purchasing foreclosure properties and renting them out and making immediate profit on their investment.

Why are these lenders so eager to rid themselves of these properties? Simple—when there are so many houses undergoing foreclosure that the lenders are unable to sell or maintain these homes quick enough, they become desperate to part with these properties. Even if they experience a great loss due to the delinquent mortgage payments and selling these properties for unbelievably low prices, they are ridding themselves of the liability they may face for the abandoned properties that are on their inventory list.

When the abandoned properties catch fire and threaten the homes of other in the neighborhood, the owner of the home is liable. If Fannie Mae or Freddie Mac owns the abandoned home then they are then liable for the potential for a fire. Therefore, they seek to sell these homes to willing buyers to rid themselves of the burden of maintaining the abandoned properties.

On the other hand, many buyers may be skeptical of the potential for great investment opportunities on the market with the continual reports of declining foreclosure filings. Rest assured that foreclosure filings are slowing (due to a strengthening economy, foreclosure assistance programs, and revamped bank foreclosure filing systems); however, there is still an endless supply of investment properties that are excellent for investors and potential homebuyers alike!

Even within cities with drastically falling foreclosure rates, there are great investment opportunities in foreclosure properties within and around these top cities. Finding a perfect property for investing or for family living is definitely achievable in this incredible buyers’ market.

Want to buy a new home or investment property? Success lies within foreclosures!

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The foreclosure market continues to march on, and for homebuyers and investors alike, that means two trends – bigger homes and a thirst for more rentals – continue to grow stronger.

Numbers released today indicate that buyers may be looking for larger homes when it comes to shopping for foreclosure deals. They are opting for four-bedroom (or more) homes as opposed to two-bedroom or three-bedroom homes, especially when compared to the market at this point six years ago.

For example, in the greater Baltimore, Maryland area, prices for two-bedroom attached homes are down 25% from June, 2005, and three-bedroom detached – your typical single-family homes – are down 21%, as reported by Metropolitan Regional Information System’s stats arm, Real Estate Business Intelligence.

Meanwhile, rental prices continue to rise, and vacancy rates for residential rental units – both apartments/townhomes and single-family homes – continue to drop. In both the Bay Area in California and greater Boston area in Massachusetts, rental rates hit record highs this year as more and more families opt to rent a home instead of buy one.

What are the driving forces behind these trends, and what can we make of them as far as gaining an edge in the housing market is concerned?

The push toward larger homes through foreclosure deals can be explained by two factors. One obvious factor is that foreclosure deals offer substantial discounts off of regular, non-foreclosure homes. Why purchase a three-bedroom home that is the same size as your previous home when you can get a larger, four-bedroom foreclosure for the same price or less?

The second reason is actually related to greater social trends. In the United States, adults typically leave their parents’ home in college or shortly after and live on their own. But with the economy as bad as it is, and unemployment still well above 9%, many young adults are finding it more economical to live with their parents as long as possible. Numbers from Reuters suggest that 52.8% of young Americans between the ages of 18 and 24 are living at home with their parents, up from 47.3% in 1970.

As a result of this growing trend, people need larger homes to accommodate larger families that are living under one roof. And since foreclosures abound these days, buyers can snatch up larger homes for less money than it would cost under normal market conditions.

As for rentals, the high unemployment rate has led to many people losing their jobs or relocating to find other jobs – both of which require rentals. People who also cannot pay their payments may lose their home and, unable to purchase another, choose to rent.

Knowing these two trends, investors and savvy homebuyers looking to turn a profit can get in the market for larger foreclosed homes and consider turning some into rental units to generate a steady stream of income for the foreseeable future. Be on the lookout for opportunities such as these, because both trends do not show any signs of stopping any time soon.

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As we’ve covered recently, there are an estimated one million plus foreclosures that should’ve occurred in 2011 that will probably take place in 2012. While a good portion of these delayed foreclosures – due to stalled foreclosure filings from trigger-wary lenders – will probably be prevented due to loan modifications and other prevention methods, there is still a big wave coming down the pipeline.

The question is: How do investors and homebuyers prepare themselves to take advantage?

The answer to this question depends on where you are and what you want to do. Not every area in the country will be hit by a deluge. Even in hard-hit states like California, there are stable real estate markets that should bear the brunt pretty well. Cupertino and Manhattan Beach, for example, have actually seen an increase in home prices over the past five years.

If you want to buy a home for your primary residence and obtain a good deal in a great location, your choices are virtually endless. Look through online listings to create a solid list of options, and then use your broker to find out more information about the market so you can see where the market is headed. Chances are, it may be better to postpone buying for a few months if at all possible, but when buying for a home, that isn’t always doable. In that case, finding the right foreclosure to buy will still be easy to do with the available inventory at hand.

If you are an investor looking for prime deals, you are standing at the cusp of another drop in home values because of foreclosures. Those one million homes will be added to the market over the next 18 months, so you can reasonably expect the impact to be felt over that timeframe. There’s no need to time the bottom, either, since virtually any time between now and the end of 2012 is a great time to buy and capture deals with foreclosures.

Prime places to target include Florida – whose foreclosure courts have been backed up considerably over the past two years – Ohio, Nevada, California, Illinois, Georgia, New York, and Arizona.

If a specific geographic area has had a significant reduction – 20-30% or more – in foreclosure filings over the past year, they are primed for another mini-flood of foreclosures once banks start processing cases again. This is an indicator that shows you the area’s foreclosure rate is artificially low – which more than likely points to a backlog waiting to break open.

Consider the next 18 months to be open season on foreclosure deals across the country, and start to prepare yourself for a drop in home prices along with the wide variety of deals you’ll have access to soon.

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The text here Foreclosure market data released today reveals that foreclosures dropped dramatically in the first half of this year – sparking even further debate about the true nature of the foreclosure market and where it is headed.

The report released today indicated that foreclosure filings fell sharply by 29% from this time period last year, and are down 25% overall from the second half of 2010. Furthermore, foreclosure processing delays are up, with the average time to close a foreclosure now taking 318 days across the nation, with a high of 966 days in New York.

Everyone knows the economy is struggling to recovery, so what explains the decrease? And what can we expect for the next six months?

Foreclosure rates depend on the ability of banks and lenders to initiate foreclosure proceedings, fill out the required paperwork, and prepare the property for sale. In 20 states, foreclosures must be approved by the court, which really clogs up the pipeline. What’s even more of a factor, though, is that banks have been reluctant to process foreclosures because of the scandals and backlash from improper foreclosure filings – even though foreclosure inventory weighs down the balance books of lenders all over the country.

So, since the fall in the foreclosure rate isn’t due to any real systemic improvement in the economy, as we’ve stated before, what can we expect for the next six months?

All of these foreclosures that aren’t being filed and weren’t processed during the first half have to be processed and filed at some point – and that will more than likely happen in the second half and throughout next year.

For investors and prospective homebuyers, that’s good news – and here’s why:

1. More foreclosures will be added to the market, which means you will have more opportunities to select the right property for ownership or investment. With more buying opportunities, it is more likely that you will be able to find lower prices on foreclosures at auction because buyers will be more spread out.
2. Additional foreclosures in a given area lower home prices in their surrounding neighborhoods, which mean traditional home purchases will be cheaper as well. Plus, as foreclosures start to sell, banks will see increased incentive to lend because their balance sheets will look much better – translating into additional cash for lending.

Do not be surprised if the average home price in a given area drops by a percentage point or two over the next six months. There is a lot of inventory that will be added to the market. Increased inventory on the market means higher supply – but it also means a higher chance of landing a prime investment property or new home through the rest of this year.

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It’s no secret that the double whammy of high foreclosures and joblessness has contributed to the shocking slide of the housing market over the past five years. Both are related to each other, and both have contributed to dropping home values across the country, sending millions out of their homes.

Today, Nicolas Retsinas, the director emeritus of the Joint Center for Housing Studies at Harvard University, discussed the housing market with Tom Keene on “Surveillance Midday”, a program on Bloomberg Television. In his interview, Retsinas discussed how joblessness and foreclosure continue to weigh down the housing market and impact home property values, citing the relationship between the two.

In short, high unemployment occurred at the same time as other conditions that led to the initial wave of foreclosures, which were also heavily influenced by subprime mortgage lending. As this initial wave impacted the economy, unemployment soared and the economy as a whole started to falter. As a result, more homeowners – who initially held jobs and were able to afford their mortgage payments – lost their jobs and then went into default.

Now, several waves later, the high foreclosure rate across the country feeds off of high unemployment, which hovers around 9% (and the true number is higher). Retsinas points to these factors as the reason why price values have dropped considerably since their peak in 2006.

He did say, though, that many are taking advantage of current pricing conditions to invest. Multi-family developers are coming back in the market, said Retsinas, and single-family homes are also being bought up in bulk and developed for profit later on. Judging by his expertise, it is safe to say that Retsinas is right on the money when it comes to the current foreclosure market.

Investing in several distressed properties or buying distressed properties for a home is the right move today and for the foreseeable future, due to the continuing rate of foreclosures and the high unemployment rate.

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Those with an interest in real estate and investments are keeping a close eye on the foreclosure market for several reasons. First, they want to know when the perfect time to invest is (right now!). Second, they want to see that the real estate market is slowing signs of recovery with a fall in foreclosure rates and delinquency rates across the country. The delinquency and foreclosure rates are very telling in regards to the real estate market progress and the progress of the overall economy. Fortunately, May ended with some good news for everyone.

According to a Lender Processing Service (LPS) report, the month of May ended with a drop in both delinquency and foreclosure rates. The delinquency rate for loans that are past due at least 30 days but are not yet in the foreclosure process has fallen to 7.96%. This number is 18.3% less than for May of 2010, showing a drastic decline in delinquency rates over the last year.

Florida, Mississippi, Nevada, New Jersey, and Illinois are leading the country with the highest number of loans that are “non-current.” Non-current includes both delinquency and foreclosure status. On the other hand, Montana, Alaska, North Dakota, South Dakota, and Wyoming have the fewest non-current loans in the nation.

These numbers show that the real estate market is recovering, albeit a bit slower than we would prefer. Furthermore, it is great news to investors looking to purchase foreclosure properties and increase their chances for a large return on their investment in the future. Many investors are purchasing foreclosure properties well below the market value and renting them out due to the high demand for rentals. Others are utilizing the low interest rates and home prices to purchase a new home for their family. Regardless, the real estate market is making progress and now is an exceptional time to invest in a new property, allowing you to save money and have an increased chance for a substantial return on your investment.

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We’ve been tracking foreclosure rates across the country throughout the housing crisis and have noticed that with a few exceptions, foreclosure rates, the rate at which foreclosures are being added to the market in a given area, have been going up. Since 2007, a historic amount of foreclosures have been added to the foreclosure market, flooding the market with cheap homes and dropping prices like a rock all over the country.

In some areas, though, even today, foreclosure rates are starting to recede, meaning now may be the best time to buy before housing prices start to come back up.

Today we’ll look at Ohio and Pennsylvania, two good cross-sections of the country that can give us an indication of larger trends in the industry and see if foreclosure rates are rising, falling, or staying the same. A report released today concerning the foreclosure market in the Mahoning Valley in Ohio suggest that while delinquencies are dropping, foreclosure rates continue to rise.

Specifically, foreclosure rates are up 0.69% from a year ago to 4.76%. Delinquencies, though, are down, to 8.28% from a previous mark of 8.58% a year ago. So, for this area, this means that foreclosure rates are higher but could very well decrease because fewer loans are delinquent.

The story is told a bit differently in northeastern Pennsylvania, but the end is the same. Foreclosure rates are falling, down 0.15% from a year ago. This area, containing Scranton, PA, is lower than the national average but still higher than the state average of 2.55%. Delinquent loans also fell, dropping by 0.23%.

So, what can we learn? Locally, foreclosure rates in your area may be dropping, and there’s a higher chance of this happening as time goes by. If you’re going to buy a foreclosure for an investment or for a home, now may very well be the time to do it in order to take full advantage of cheap homes and cheap prices.

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The number of REO homes for sale and homeowners on the brink of losing their homes to foreclosure continue to rise in Alabama. State statistics showed that majority of troubled homeowners have lost their jobs and are currently unemployed. To help these unemployed borrowers, the local government has launched a new program funded by federal money.

Foreclosures in Orange Beach, AL, and in the rest of the region dominate the housing market concerns of state authorities. Recently, Governor Robert Bentley, along with the Alabama Housing Finance Authority, has announced the launch of the Hardest Hit Alabama effort, which will provide financial assistance of as much as $15,000 for a period of 12 months to unemployed homeowners who are having difficulties meeting their monthly loan obligations.

Homeowners in danger of losing their homes to Alabama foreclosure listings due to unemployment can apply, and qualified applicants will not be required to pay back the money that they will get under the program if they remain in their houses for at least five years. The program was part of the federal government's stimulus project which earmarked $2 million to 18 states that have the highest unemployment rate.

Alabama, having some of the highest supplies of foreclosures and REO homes for sale and also having a high unemployment rate, was provided with $162 million, which will be used to provide mortgage assistance to borrowers behind in their payments. Those who are out of job and have qualified for unemployment benefits can seek help from the initiative.

They should also owe on their mortgage an amount no higher than $258,690. Another requirement is that their annual household income should be lower than $75,700. According to local officials, the initiative will greatly help troubled homeowners in the area and will also contribute in cutting down the number of foreclosed bank homes in Alabama.

Authorities are hopeful that homeowners will take the chance to save their properties from getting foreclosed or becoming REO homes for sale. Applications can be accessed online and officials stated that those who do not have computers at home can use the ones at public libraries that are open to the public.

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For those who plan on buying residential properties, including VA repo homes and foreclosed houses, Nebraska would be a great place to go. According to real estate experts, the state has one of the strongest housing markets in the whole U.S. and one of the very few that was able to maintain a balanced residential property industry amid the real estate crisis.

Foreclosures in Omaha, NE, and in the rest of the region are not as high as in other U.S. states. Because of this, prices of properties in the state are expected to hold steady and are not at high risk of declining rapidly as the crisis deepens. The state was actually given a price decline rating of less than 25% by analysts; a healthy range compared with other housing markets in the U.S.

With very low supplies of Nebraska bank foreclosures, the region was able to avoid the housing industry bust that started around four years ago. Prices in the region have consistently increased since the start of the decade, according to analysts. Nebraska also has vast supplies of land which allowed it to absorb the impact of the real estate crisis.

To top it all, the unemployment rate of the region is just shy of 5%, way below the national unemployment rate of 9.8%. For homebuyers, including those who are looking for foreclosed and VA repo homes, Nebraska is a great place to buy since they can be assured that the values of their properties will not plummet, owing mainly to the steady job market and the fact that the region's home values have maintained their levels despite the foreclosure crisis.

Not a lot of foreclosed houses for sale can be found in the region, which helps the housing market maintain values of properties. The state is also experiencing a gradual increase in population, with numbers expected to be even higher this year with the opening of various developments such as the TD Ameritrade Park Omaha Stadium.

For people seeking VA repo homes and other residential properties, Nebraska is one of the very few areas in the U.S. where they can expect property values to hold for a long time. Analysts stated that, for a long term investment, the state will be a wise choice.

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The problem of huge supplies of residential and commercial foreclosures in Tennessee will continue in 2011, according to economists. However, they stated that this is natural since the real estate market will have to get worse first before it can get better. The current year is expected to be a period of correction for the housing market and the state’s economy as a whole.

Foreclosures in Chattanooga and in other areas of Tennessee are projected to continue to maintain their high levels. The main factor that could push the market towards a recovery, analysts asserted, is an improvement in the job market. They stated that for the housing industry and the whole economy to get better, the unemployment level should decline below 8% this year.

Economists also stated that lending standards should be loosened to allow potential buyers to purchase foreclosures in Tennessee and lower the distressed property inventory. They also stated that an improvement in consumer confidence will help the economy recover as well as lower consumer and federal debt levels.

Narrowing their focus on the state’s housing market, economists stated that another factor that threatens whatever minimal improvement and is being seen in real estate is the presence of underwater loans. They claimed that these underwater mortgages will further increase the number of residential and commercial foreclosures in the area if not resolved and can reverse the slight positive development seen in the past few months.

Meanwhile, for the number of foreclosure homes to start declining, housing industry experts stated that a further decrease in housing prices by over 20% might be needed so that homebuyers will start considering purchasing homes again. In the Shelby County area, the average selling price of houses last year was $124,278, up by 1% compared with 2009. Housing analysts revealed that the 32% housing sales accounted for by bank owned properties or foreclosed houses should be lowered for the residential market to attain some form of balance.

Residential and commercial foreclosures will continue to hurt the real estate market this year, analysts have stated. However, an improvement in the job market, no matter how slight, will go a long way towards helping the housing sector recover, analysts further added.

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Foreclosure totals, including those for condominiums for sale, decreased in Mississippi in 2010 when compared with year-ago levels. But it was a different story if data from two years ago is used as basis for comparison. When compared with 2008, foreclosure-related filings last year jumped by a considerable percentage.

Foreclosures in Brandon, MS, and in the rest of the state declined to 5,280 in 2010. The number included households that received default notices and properties that were repossessed by lenders. It also represented a decrease of 2.3% when compared with 2009 filings. One household out of every 240 was under some form of foreclosure last year in the state, making Mississippi the 45th ranked state nationwide in terms of number of foreclosure-related filings.

However, foreclosures in Mississippi in 2010 represented a massive jump when compared with 2008 figures, with filings rising by 130% from two years ago. Despite the big increase from 2008, Mississippi has been one of the few U.S. states that did not experience the economy-crippling foreclosure statistics posted by regions like Nevada, Florida, California and Arizona. However, analysts in the state are watching the housing market figures closely, as foreclosure filings for the last month of 2010 recorded a surge that gave the state a higher nationwide ranking for December.

For December 2010, Mississippi recorded a total of 1,024 foreclosure-related actions, including those associated with residential properties, such as condominiums for sale. Out of this total, 766 were repossessed by lenders and financial institutions, with one property in the state out of every 1,238 receiving a notice in December. This ranked Mississippi 34th overall during the month.

For the 2010 fourth quarter, filings for bank foreclosed properties totaled 1,908, with 1,113 accounted for by repossessed properties and foreclosure sales. The figure represented an increase of 37% when compared with the 2009 fourth quarter and a 33% jump when compared with the 2010 second quarter. Market analysts are waiting whether the surge will be repeated in the first quarter of 2011 or whether numbers will decline.

Although Mississippi did not experience the same level of residential and condominiums for sale surge like other U.S. states, local real property experts stated that it has also been affected by the economic downturn and unemployment.

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• Things in Utah are as bad in the 1980′s
• This time banks are being more responsible
• Sweeteners are becoming popular again

The last time the Utah property market fell through the bottom of homeowners’ worst dreams was back in the 1980′s, which period saw a wave of foreclosures not unlike the one that American families are currently experiencing.

I was chatting with a realtor from Provo named Eric Adams the other day, and I experienced déjà vu with a vengeance as he told me tales of banks shoving their foreclosed real estate out into the Utah market like there was no tomorrow, and regardless of the damage they was doing to an already sinking market. He reckons that the current debacle could be worse – in fact in 25 years of business he had never seen so many for sales signs in Provo.

During the period July 2009 and March 2010 approximately 1.5% of all Utah family homes were listed as reo’s, having been foreclosed by banks and failed to sell on auction. Some of the area’s previously fast growing areas contributed to the 1,967 homes behind the 1.5%. These included:

My Realtor friend from Provo reckons the banks have got smarter since the 1980′s – whereas previously they had just shoved everything out into the market, this time they are sitting on inventories in the hope of manipulating prices.

Banks understand this time that pushing prices down puts more of their clients underwater too, about the worst thing a banking manager needs on top of current other headaches. Notwithstanding this, they are still pricing their for-sale inventories to sell in 90 days.

This indicates that Utah lenders are trying to strike a balance between their own interests and “being fair”. They’ve also picked up a few hot tips down at used car lots and are offering incentives including re-decorating packages, waived closing costs, carpets, new appliances, and even more to get unwanted property sold, Some are even including 2 year warranties on the reo real estate they sell.

These incentives are finding favor with Utah buyers who welcome sweeteners on top of lower prices. Local buyer Colin Johnson was one of the lucky ones – after a year of searching for his first house he found his dream come true in the form of a bargain freshly painted home with brand new carpets too. He feels he got a better deal than what’s median on the market – no doubt there’s one slightly happier bank manager out there too.

Market forces are beginning to balance out again. Banks becoming more responsible again, helping ordinary American families settle in new homes. At www.foreclosuredatabank.com we bring you fresh-baked news like thiseach morning.

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• Foreclosure activity in Massachusetts has increased thus far this year
• Is this a sign of further troubles up ahead?
• Or are the banks just finally catching up on things?

Foreclosures in Hampden County, Massachusetts were up close to 50% for the first four months of 2010 compared to the same period last year, or 431 foreclosures versus 289 foreclosures in 2009. The situation was even worse when events for April 2010 are viewed in isolation – the month recorded a 160% plus growth.

Initial foreclosure notifications – they’re the first step in what used to be a long process – were also up by 11.8% during the same four month period, and again a great deal more too during April 2010 when they rose 70% from 122 to 207.

So what’s happening in the State of Massachusetts, just when everybody was hoping the situation would improve? The goods news is that it’s not a sign of a deteriorating market, more a case of lenders getting their act sorted and closing in on their backlogs. By way of an example, it now just takes a median 138 days to process a Massachusetts foreclosure, compared to 234 days two years ago.

According to Program Manager at the Western Massachusetts Foreclosure Prevention Centre a secondary reason for prior tardiness was lenders reticence to take on inventory that would not sell – this reticence is diminished now, and at least some of them are following through to complete the process.

The following are further recent statistics for the first four months of 2010:

• Springfield foreclosures were up 37%, and 140% for April alone. While first phase petitions were marginally down, they jumped almost 62% during the last month of the period under review.
• Hampshire County’s comparables were 121%, 100% and 19%, 19% respectively
• In Franklin County, completed foreclosures rose 38%, and 33% in April. First notifications moved up by 38% for the first four months, but 130% in April alone.

According to Robert Mitchell, Senior Vice President at Hampden Bank responsible for Retail and Mortgage lending in Springfield, his bank has not yet seen a rise in its foreclosures, although it was working closely with customers who were out of work or otherwise batting with their payments. He thought the trend was likely the result on increased activity among larger banks, although he doubted they had the capacity to increase activity much more.

Perhaps the increasing trends are a combination of some banks losing their nerve, while others make hay in the sun before Washington flexes its anti-foreclosure muscles again? What do you think about all this? Is this the beginning of the end, or the end of the beginning? Stay close to www.foreclosuredatabank.com where you can follow the trend further.

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• Nine out of ten top metros post better foreclosure rates
• But, the situation is still serious in the five worst-affected States
• What can this mean for America’s troubled households?

Although the actual foreclosure rate still trended up, average front-end American foreclosure activity dropped nationwide in April 2010.

But, did this signal a real improvement, or just another tread reached on an upstairs ladder?

At least one data tracking firm believes that it’s another false spring, with unemployment and loan modifications simply serving to delay the inevitable return to pre-HAMP days.

But, again, the April 2010 rate of default servings did fall 9% from March, and 2% year on year too. Is this merely the slowing down of Shylock Lenders, who will be returning for their pound of flesh later?

The raw data reports as follows:

• Property mortgage lenders served defaults on over 103,000 American households in April 2010 – this was 12% down month-on-month, and 27% down year-on-year.
• During the same period, lenders assumed control over 92,432 homes (a record, up 1% from March, and 45 % year-on-year.
• To put matters in perspective, 1 in 387 American homes received foreclosure notices during 2010.

It is clear that the American property market is still unsure which way to turn. While troubled borrowers have started tapping Federal grants, the majority are still heading for foreclosure.

• 2.8 million American property owners were handed a foreclosure notice during 2010
• A million properties are somewhere in the pipeline still, with a further 5 million serious delinquencies stacking up.
• Almost 138,000 foreclosure auctions were posted during April 2010 – this was 13% down on March but 1% up from April the previous year.

Most analysts suggest that numbers will remain high for a while still, as banks and foreclosure courts work through their backlogs. Meanwhile, foreclosure action is down in 9 of the top 10 metro areas year-on-year, with larger cities in Nevada, Florida, California and Arizona still dominating. Las Vegas had the highest metro foreclosure rate, with one in every 60 housing units being filed, although actions did fall 3 percent compared to April the previous year.

The five most troubled States continue to be California, Florida, Michigan, Illinois and Nevada – between them they accounted for 52 % of foreclosure actions nationwide in April. California was worst, with 69,725 properties being filed (down 25% from March, and 28% compared to the previous year).

These skewed results seem to indicate that the American property market shares mixed fortunes within itself – but that, at least, the question is not will it turn, but, when will this happen?

Are you personally involved in a foreclosure crisis, a potential investor, or simply a casual observer? Whichever is true, you’re welcome to follow the news further at www.foreclosuredatabank.com.

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According to Mortgage Bankers Association, Dallas foreclosures went up to over sixty one thousand units last year. In Fort Worth area, the same case applied in 2009. Compared to 2008, the number of foreclosure filings overall increased by twenty three percent in this Texas area. In reference to this expert’s report, fixed rate mortgage defaults increased to a certain extent.

The major cause of escalating numbers of foreclosed homes last year was defaults in both fixed rate mortgage loans and sub prime loans. Dallas residents had applied for these types of loans during stable credit circumstances. Even so, Dallas is still ranked among the states that continue to record low defaults on mortgages. Throughout last year, both individuals and commercial establishments felt the bad effects of economic recession.

This obviously changed Dallas homebuyers’ income status. Furthermore the rate of unemployment escalated in most states in the country last year. The MBA found increasing unemployment rate to be the main cause of the immense defaults and foreclosures between July and September 2009. Dallas was seriously hit by unemployment not to mention the high number of people who were dismissed from their jobs. To learn the latest information about this, homebuyers can refer to www.foreclosuredatabank.com/ any time.

Specifically, the number of jobless people in Dallas rose by eight point three percent. No wonder the Fort Worth area recorded a high delinquency rate in fall 2009 than similar period during 2008. Texas MBA Vice President, Scott Norman had speculated a reduction in joblessness in 2010 last year. So far unemployment rate in Dallas, Texas is still growing. Only time will tell if the area will continue recording high foreclosure filings throughout 2010 or not.

If the employment situation changes positively, residents will hopefully prevent further defaults. Even though joblessness, fixed rate mortgage loans and sub prime loans caused increased foreclosure listings last year, let’s hope 2010 will brings different results.

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Based on Realty Trac‘s recent market report on monthly foreclosure changes, Burbank registered a ten percent decline in foreclosures in January 2010, compared to December 2009. In other words, the ten percent decline from December 2009 is equivalent to 315,716 foreclosure real estate filings in January 2010 alone. This Los Angeles based region did even better in comparison to the January 2009.

There must be a special detail that happened in Burbank real estate market in the year 2010 as opposed to 2009. The property foreclosure listing in January 2010 was not long compared to a similar time last year. It shows that current homebuyers are doing everything to prevent defaults. Anyone looking forward to buying a home in this area shouldn’t be discouraged. The number of foreclosure filings was still alarming at the beginning of this year. In other words, there are numerous foreclosed homes available for sale. Throughout this year, this trend is likely to change in a positive manner.

Going by the report findings mentioned above, California generated six cities in the list of top ten states nationwide, with almost similar foreclosure rates this year. This is a good trend and you can find out more about it here www.foreclosuredatabank.com along with a current listing of all Burbank foreclosures available at great prices. Another positive trend obvious in Burbank now is the increasing cost of cozy homes. By February 2010 alone, an average projected value of a cozy home in Burbank amounted to $583,768.

The rate went up from January 2010 by 0.26. This is good news for a homebuyer hoping to sell his or her home at a higher value. Everyone can see that in the coming months, the home resale rates, as well as home equity, are likely to go up. However, home resale value and prices can fluctuate in a different manner. If we base our views on the current trends, the real estate market conditions are fair in this region of California.

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Foreclosures are continuing to disconcert New York Residents in January, with Brooklynites suffering the most. New Yorkers in danger of losing their houses went up by 35 percent compared to the same period last year, according to statistics provided by www.foreclosuredatabank.com, one of the leading online foreclosure databases with a detailed Brooklyn Foreclosure List.

In total, 1,825 homes in the five New York City boroughs were given some sort of property foreclosure notice in January. The previous month the number of houses that received foreclosure notices was 9.3 percent higher at 1,995.

According to Michael Hickey, executive director of the Center for New York City Neighborhoods, an organization which arranges free legal services and housing counseling for distressed New Yorkers, the city is still in a crisis. They are expecting the current trend to carry on in the same way for the next several months before it levels off.

Even though Queens has been at the center of the New York’s foreclosure turmoil for quite some time now, Brooklyn home owners incurred in 693 foreclosure notices in January — the most in the city — up 86.8 percent compared to the same period last year but down 8.5 percent compared with the previous month.

Severely volitile neighborhoods include Canarsie, Bedford-Stuyvesant, Flatlands, East New York and East Flatbush. “We have been seeing a tremendous increase in Sunset Park and other places that we had never even heard of before,” said Meghan Faux, director of the Foreclosure Prevention Project at South Brooklyn Legal Services, to a certain extent blaming the recent high levels of unemployment. “But most of the cases we come across are in fact loans that were never really affordable.” A foreclosure counselor in Brooklyn told us that he has seen more home owners who have job losses or whose tenants are unemployed.

Based on a report by a widely cited research company, in second place behind Brooklyn was Queens, with 616 foreclosure notices in January, down around two percent in comparison to January 2009 and December 2009. One out of every 1,836 properties in New York City received some kind of notice on foreclosure – a scheduled foreclosure auction notice, a default notice, or a bank repossession notice. However, that was by far better than the national median, where one out of every 409 homeowners is currently facing foreclosure.

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The socio-economic prospects of United States have been provided a rapid transformation with the exclusive exposure of Florida foreclosures for sale. Importance of property oriented trade and luxurious domicile deals are fastened at an alarming rate to exhibit the financial status prevailing in the ‘Sunshine State’. The concept owed its provenance to the momentary ignorance of debt-redeeming features and involves a default in the mechanism of the payment of cess. Foreclosures therefore arise as a forced deal and further elucidate the process of land possession by supreme faculties of governmental authorities. It promotes the advantages of purchasing luxurious domiciles with the least values of expenses.

According to the statistics ensured by demotic companies, there has been a considerable hike in the adoption of foreclosed activities. Since the process involves a judicial strategy, foreclosed products are justly availed in all time low prices compared to the reigning market value of properties and estates. Exorbitant monetary associations of proclivitous insurance terms, excessive taxes on lands and other costly mortgage payments lead to an adverse situation of financial crisis and hence the banks and other powerful organization takes possession of such default lands. Customary inspections about the features of foreclosed products are highly crucial since it highlights the status of the auctioned domicile. Demotic companies are present in the market to enhance the opportunity of making a good investment in antiquated but delectable property tracts. Purchasing the gorgeous and salutary real estates should be performed with the informative contribution of agents so as to obtain pellucid conception about the extravagant range of properties displayed in the public auctions. Plenary of guidance and diverse availability of foreclosed houses are elucidated in the web pages of popular websites, thereby acting as a dwelling house of beneficial resources in the alimony of land assets. Procedures and sources are at your fingertips, you simply need to limit your budget and select a destination to avail the lists of prevailing foreclosed products within the required jurisdiction. Allocation of finance and wealth could fasten the pace of the treaty and signify the appearance of negotiations. Suit your accommodation in the pleasurable domicile of your dreams without the hazards of past liens and experience the well crafted advantages of properties in Florida foreclosures for sale.

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The foreclosure wave is still pretty strong in the United States. In fact, it has been found in some reports that one in every five homeowners owes more than the present value of the home. Situation of High Point foreclosures is not entirely different and there are quite a few homes available for people to get at discounted prices.

Although there are lots of areas where foreclosures are rising but the Guilford County is in the top-ten list of areas having most number of foreclosures. If you check the track record of this particular area, you will find that the foreclosure rate for the Greensboro-High Point Metropolitan area was quite low. In fact, this area had the lowest rate of foreclosure in the nation, according to a survey conducted by real estate foreclosure listings provider. That was the time when only one household was into foreclosure out of 923 households.

However, things are no longer the same and you can find an increase in the High Point foreclosures. This increase in foreclosures is due to the people who have fallen short of their mortgage payments in recent times. Homeowner`s association dues and property taxes have also contributed towards the increase in foreclosures.

Also, the foreclosures have increased due to the decrease in home value. To highlight this particular point, the following graph is taken from the Trulia.com.

This graph is used to show you the trend currently existing in the real estate market pertaining to average listing price. You can clearly see that there was a decrease in average listing price right from the Feb 18, 2009. This was the time when price was $209K. But, there was a clear decline in price from Feb 18 till Feb25. A decline in price was also there after this particular point but it was not as steep as before. But, price again started to go down on a rapid pace after this particular point and reached to $205K on Mar 11. Also, there was a decrease of 5% in the average price for a square foot in High Point.

This clearly suggests that there is a decrease in average price which is the reason why people are forced to allow their homes go into the foreclosures. So, you must have gathered the reasons why there is an increase in High Point foreclosures.

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North Carolina has always been considered as one of the better places for affordable housing. But, if you are interested in living in North Carolina and that’s too without spending a lot of money in buying a home, you must consider the option of Wilmington foreclosures.

It is crucial to mention that if you are an investor, you must make sure that you have enough knowledge of the market. When you will research more about foreclosure homes in North Carolina, you will find a decrease in the rate of foreclosure listings in January. In fact, there was a 10% decrease in the foreclosure listing in January. But, it doesn’t qualify to the fact that you can not find Wilmington foreclosures to invest in. You must however take special care at the time of investing your money as researching is the key to success here.

When it comes to real estate, you have to spend some time in analyzing the recent market trends. One of the important things to consider is about the median price for which this graph is taken from Trulia.com.

This graph makes it pretty clear that the median price of a home in Wilmington has always been in a good direction. Though you can see some ups and downs on some occasions, especially around the last quarter of 2007 and the first quarter of 2008, but price has always been pretty consistent in this part of the world.

It is however important to mention that price from Dec 08 to Feb 09 was around $195,000, which was decrease in price as compared to the same period in last year. This estimated price was based on the sales of 445 homes. Precisely, the decrease in the median price for the aforementioned period was 0.3%.

Now, it is quite evident that there was a decrease in the median price in the early quarter of 2009 but you have to take the number of sales into account to get to some conclusion. Following graph, which is also available at Trulia.com, shows the trend for the number of sales from 2005 till 2009.

Now, just by having a casual look at this graph you can understand that there is not much of a change in the number of sales from 2005 to 2009. But, the first quarter of 2009 was not really impressive in terms of number of sales. This was the time when median price was also coming down and the decrease in home sales was around 21 % as compared to the previous year.

So, before investing in Wilmington foreclosures, you must take your time to check all market trends as that’s the only way to invest your money in the right way.

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Winston Salem is the 4^th largest city in the State of North Carolina. Since living conditions are pretty good in here, as there are schools, hospitals and headquarters of multinational companies, its real estate market is in pretty good condition. But, if you are specifically interested in Winston Salem foreclosures to get a home at lower price, you will also be able to find some opportunities to reach your goal.

Before moving into the foreclosures, it is important to shed some light on home sales in this part of the world. Herein, you can find several homes for sale. In fact, the following graph will give you an idea about the increase in listings in the first quarter of 2009.

This graph, which is taken from Trulia.com, shows that the listings in the 1^st Q of 2009 were having an upward movement. In fact, the listings were around 2,050 on March 04, 2009. It implies the fact that you can get a home in Winston Salem without much ado.

Now, when it comes to foreclosures, price is the first thing to consider at the time of exploring the range of Winston Salem foreclosures. Just after searching for some time you will come to know that there are some specific areas where prices are generally higher than other areas. For instance, if you want a home in Zacharys Keep Ct with four beds and three baths, you will have to spend $199,900. This is the estimated price for a home of 2,200 square foot.

Now, it is crucial to mention that this price is just the beginning as it can go up and up in other areas. Bedford Park Dr, for instance, is the area where you will have to spend $999,999 to get a single family home. Moreover, prices in Greenbrier Rd, Stonebridge Dr and Country Club Rd are also quite high as compared to other cities in North Carolina.

Here, it is essential to mention that the basic trend of selling homes in Winston Salem is changing quickly. There was a time when people were willing to sell their homes through real estate agents to avoid foreclosure but that’s not the case right now. At present, people try to look for a homebuyer on their own and chances are high that you can get a home at discounted price in this part of the world. So, if you think that Winston Salem foreclosures are not offering any help, you can always conduct a research on your own as it is possible to find a local interested in short selling his home.

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