Welcome to Real Estate Foreclosure Guide
Real Estate Foreclosure Sales In Florida 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 Foreclosure Sales In Florida News
Rapid-fire house flipping brings in big bucks for a few players - Tampabay.com
 Tampabay.com | Rapid-fire house flipping brings in big bucks for a few players Tampabay.com On March 14, West Florida bought the house for $39500. That same day, West Florida resold the house for $69000. The Times asked how West Florida Wholesale Properties can flip so many homes so quickly. Lee Kearney, a real estate agent and husband of ... |
South Florida's real estate market looks hot again - MiamiHerald.com
 MiamiHerald.com | South Florida's real estate market looks hot again MiamiHerald.com The battle for South Florida's residential real estate is back on even though there may still be many more foreclosures to come. Fort Lauderdale Realtor Michael Elliott puts a SOLD sign on the shingle outside a home in Wilton Manors. Florida Median Home Price Increases in April as Inventory is Greatly Reduced Existing-home sales and home prices ticked up in April |
Paul Vencatasawmy, Fake Real Estate Agent, Scams Buyers Out Of $250000 With ... - Huffington Post
Paul Vencatasawmy, Fake Real Estate Agent, Scams Buyers Out Of $250000 With ... Huffington Post One real estate scammer in Florida seems to have taken the term “open house” a little too literally. Paul Vencatasawmy allegedly raised $250000 by posing as a real estate agent and collecting down payments for houses he didn't have the right to sell, ... |
This Bogus Real Estate Agent Duped Florida Home Buyers Out Of $250000 - Business Insider
 Business Insider | This Bogus Real Estate Agent Duped Florida Home Buyers Out Of $250000 Business Insider Investigators say Vencatasawmy duped potential homebuyers in central Florida out of $250000. What they thought were homes for sale were actually foreclosed or vacant at the time. Vencatasawmy's scheme mirrors tactics used by phony foreclosure rescue ... |
Orlando new-home sales, home construction are up - Orlando Sentinel
Orlando new-home sales, home construction are up Orlando Sentinel "People who thought three years ago that they would never be able to buy a home again are now finding out that they can," said Brad Hunter, chief economist for the real-estate-research firm Metrostudy Inc. "Buyers who did a short sale three years ago ... |
South Florida's Real Estate Market Looks Hot Again - LoanSafe
South Florida's Real Estate Market Looks Hot Again LoanSafe Across South Florida, higher demand is leading to multiple bids and, in turn, elevating prices — as the real estate market keeps turning around. “We have a very limited amount of inventory at this point and there are a lot less foreclosures on the ... |
Report: Fewer US homes foreclosed upon in April - San Jose Mercury News
 ABC News | Report: Fewer US homes foreclosed upon in April San Jose Mercury News By ALEX VEIGA AP Real Estate Writer LOS ANGELES—National foreclosure trends took a positive turn in April, as the number of homes seized by banks declined and fewer properties entered into the foreclosure process. But state-level data point to ... Foreclosures Plunge to Five-Year Low in US: Mortgages |
Foreclosures Plunge to Five-Year Low in U.S. Recovery: Mortgages - Bloomberg
 Bloomberg | Foreclosures Plunge to Five-Year Low in U.S. Recovery: Mortgages Bloomberg Short sales have been the preferred means for lenders to dispose of distressed real estate in California, where they totaled 11397 in January, compared with 8821 foreclosure deals in that state, according to RealtyTrac. The tally in Arizona was 3217 ... Foreclosures fall again, for now, survey finds Foreclosures reach lowest level since 2007 Orlando foreclosure activity down from March to April |