The large number of low-priced foreclosed properties in Santa Clara, California has cut down the growth of property values in the county as of January 1, 2009, based on a report released by the county this week.
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From the category archives:
Foreclosed Properties
Among the reasons given for the continued rise in number of foreclosed properties are unemployment, subprime lending, adjustable-rate lending and difficult family circumstances such as divorce or hospitalization.
Another major reason is negative equity – home value is less than loan amount. Borrowers who have negative equity, sometimes known as underwater borrowers, often decide to walk [...]
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On September 19, a foreclosed house in the Healy Block Historic District in Minneapolis was burglarized. The house is situated in the neighborhood that features Queen Anne-style houses built by Thereon Potter Healy. Most of the houses feature decorative balustrades and curved and stained glass windows.
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What is there to like about foreclosed properties? There are, in fact, many things to like about foreclosed properties. But first, let’s talk about what foreclosed properties are. Foreclosed properties are houses and properties of all kinds that have been foreclosed on by the bank or lender than financed the mortgage loan. There are various reasons that people end up with their house in foreclosure. While it is a sad thing for the homeowner, it is an opportunity for a buyer or real estate investor to save some money on the purchase of these foreclosed properties.
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