Foreclosures down in January 2010, but surge on way?

February 18, 2010

Foreclosures & Wholesales

Foreclosures down in January, but expect a surge later this year, especially after the First-Time Home Buyer Tax Credit expires in April.

Among states, Nevada posted the nation’s highest foreclosure rate, followed by Arizona, California, Florida and Utah. Rounding out the top 10 were Idaho, Michigan, Illinois, Oregon and Georgia.

The metro area with the highest foreclosure rate in January was Las Vegas, with one in every 82 homes receiving a foreclosure filing. It was followed by Phoenix and the California cities of Modesto, Stockton, and Riverside-San Bernardino-Ontario.

Click here for a complete article, expect a LOT more foreclosures.   I can’t wait!

foreclosure worst hit cities

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2 Responses to “Foreclosures down in January 2010, but surge on way?”

  1. Jonathan Smith Says:

    Foreclosure property is really the best way i can think of to buy a a property with less price. However, REOs are better because you do not need to deal with the people who are still living on the property.

    But if you really have money and can afford to buy a luxurious house, i would really recommend checking out La Jolla – just my thought on this.

    In any case, if any of you are trying to check how you can buy foreclosure property, you need to be aware of its implications and some of the hassles it comes, especially if you had bought the property by foreclosure auctions. On the other side of the coin if you have met and cleaned out all the hassles, it will be a great buy because it is relatively cheap.

  2. Angella Raisian Says:

    Jonathan, you are correct. La Jolla is a great place to buy an owner-occupied property for a long term hold. Not the place to invest, but definitely the place to live, since prices there dropped by a LOT sincethe peak.

    Angella Raisian

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