Foreclosure rates increasing in many U.S. housing markets

Foreclosure rates increasing in many U.S. housing markets

Foreclosure listing services are reporting increased foreclosed numbers. And again, the wise foreclosure investor will be ready to monetize on this opportunity. I've quoted a little of the article here but suggest reading the entire article found in the source section below.

"RealtyTrac, a California-based firm that tracks the state of the national housing market, says default notices to bank ownership, i.e., foreclosures, rose 45 percent in January from the same period a year earlier. There was one new foreclosure for every 1,117 U.S. homes."

The report goes on to say...

"RealtyTrac said, although the number of foreclosures is low from a historical perspective, it has been rising steadily in the past year. With the rate of appreciation dropping and interest rates rising, a number of economists and industry observers expect the pace of foreclosures to speed up this year.

The highest foreclosure rates, according to MSN Real Estate, on a per capita basis are Georgia, Nevada and Colorado. In Georgia, the rate leaped 88 percent in January from the previous year. The publication also reported Georgia was No. 5 for the total number of foreclosures."
source: http://www.rockrivertimes.com/index.pl?cmd=viewstory&cat=2&id=12746

filed under: foreclosure investing