The number of residential properties falling into foreclosure auctions declined in Massachusetts during March 2011 compared with year-ago levels. According to housing industry experts, the drop was due to slower processing of foreclosure actions by lenders and the improving national economy. Both foreclosure-related petitions and number of deeds fell in the state in March year-over-year.

Foreclosure listings in Boston and in most key areas of the state dipped during the month as statewide petitions declined by 60% in March of this year compared with the same 2010 month. A total of 1,048 petitions or properties entering foreclosure for the first time were recorded statewide during the month. Meanwhile, foreclosure deeds, also known as the last stage of foreclosure, totaled 552 in March, representing a drop of 60.3% compared with last year.

Analysts asserted that the number of properties going under a Massachusetts home foreclosure list declined during the month mainly because of the state law which extended the time of 90 days to 150 days before banks can initiate foreclosure proceedings. They also asserted that the improving economy of the state also helped cut down the number of residential properties entering foreclosures. However, most of them agree that the decline is just temporary and distressed property levels will increase again in the latter part of the year.

They stated that delaying the entry of homes into foreclosure auctions by extending the waiting period for lenders will only provide a temporary lull and that majority of these homes will still end up in foreclosure. Despite these assertions, analysts also expressed optimism over the coming months as the state's unemployment rate declines to 8% during the month of March, down from the 8.7% recorded in March of last year.

They are also hoping that the increased number of lenders willing to modify loans will help lower the level of foreclosure listing nationwide. In Massachusetts, realtors reported that most troubled homeowners are finding it hard to save their properties, mainly because of reduced income or outright unemployment. They added that an improvement in the job market will greatly help the housing market not only in Massachusetts, but in the rest of the country.

Analysts expect more homes to be offered at foreclosure auctions in the coming months. They claimed that a big number of distressed properties are still caught in the pipeline and these stalled cases will soon enter the Massachusetts housing market, most likely in a couple of months or so.

The number of foreclosure-related filings and properties under foreclosure auction listings declined in Alabama last month. The figure includes notices of default, properties scheduled for auctions and homes repossessed by banks. The same decline was seen nationwide on a month-over-month basis.

Birmingham foreclosure listings and Mobile foreclosure filings are just some of the statistics that improved in January 2011 when compared with December of 2010. In Mobile County, a total of 214 properties received a filing for the month. The local market in the county with the highest filings total for January was Mobile City, with 139. Meanwhile, Baldwin County recorded 258 new foreclosure-related notices last month, with Foley posting the highest number in the county at 113.

Statewide figures also dropped, with foreclosure lists in Alabama and new filings dipping by 16% when compared with December 2010. The whole state recorded a total of 1,642 new filings for foreclosure during the month. It also had a statewide foreclosure sales total of 95 properties. For January 2011, the average selling price of houses in Alabama was pegged at $190,606.

For the adjacent Jackson County, foreclosure auction listings also recorded a decline. There were 31 new filings for foreclosures in the area in the previous month, with the highest found at Ocean Springs, which posted 14 new filings. Neighboring Harrison County also did well, with only 26 new foreclosure-related filings for the month in focus. Eleven of these filings were filed in the area of Gulfport.

Home foreclosure listings declined in majority of U.S. states and metro areas last month when compared with December of last year. According to nationwide housing market data, overall foreclosure-related filings figures for the whole U.S. fell by 1% from December 2010 to January 2011. Over 260,000 filings were posted in the whole country, representing a 17% drop when compared with January 2010. This gives the U.S. a ratio of one household out of every 497 under some form of foreclosure in January.

Although filings and foreclosure auction listings dropped in Alabama and the whole country, market experts remain cautions over the true condition of the residential property market. They stated that numbers are likely to climb again in the coming months and that a recovery will be unlikely to happen this year.

Search foreclosure lists in Alabama cities:

• Montgomery Foreclosure Listings
• Huntsville Foreclosure Listings
• Tuscaloosa Foreclosure Listings
• Foley Foreclosure Listings
• Daphne Foreclosure Listings

The prices of dwellings in Portland, Oregon, including those under list of homes at auction, have declined to their lowest rates in four years. Based on the latest housing market data, prices for October were at their lowest since the foreclosure crisis started in 2006. Portland was not the only city that hit an almost record low, with several other U.S. metro areas also experiencing considerable drops in housing prices in October.

Prices of properties under Portland foreclosure listings declined in October to their lowest levels in four years, along with five other metro areas that include Tampa, Charlotte, Miami, Atlanta and Seattle. The data was based on S&P/Case-Shiller Home Price Indices, with data from the National Association of Realtors (NAR) showing similar declines in the same areas for the month.

The Association also reported that sales of new houses and properties under Oregon foreclosure lists also dipped in November compared with year-ago levels, along with median prices. However, analysts confirmed that the picture is not as bleak as it appears since 2009 price and sales figures were artificially inflated by the U.S. federal government's tax credit initiative. Data from NAR also showed that nationwide November housing sales declined by almost 28% when compared with 2009 peak levels.

For the Case-Shiller data, the 20 metro areas tracked under its index showed a decline of 0.8% in October 2010 compared with the same 2009 month. Meanwhile, its 10-city composite index recorded a 0.2% improvement compared with year-ago period. When compared with September 2010, prices of properties under list of homes at auction recorded a decline for both indices. According to analysts, the record price declines posted in six of the cities showed that a double-dip seemed to be in the works for the country's housing market.

Analysts also stated that prices of dwellings in foreclosure listings and newly built residences declined in almost all parts of the U.S., with the month of October not showing much of a positive sign. October statistics also showed that almost all of the economic indicators related to the housing market performed poorly during the month.

October also saw housing starts plummeting to an almost 30-year record low, while inventories of unsold houses and dwellings not included in the list of homes at auction surged by almost 50% compared with 2009 levels.

Search foreclosure lists in Oregon cities:

• Beaverton Foreclosure Listings
• Medford Foreclosure Listings
• Gresham Foreclosure Listings
• Hillsboro Foreclosure Listings
• Klamath Falls Foreclosure Listings

House foreclosure auctions take place across the country and cater mostly to foreclosure investors out for a good deal. But even first time buyers can strike gold in these auctions with a little basic education.

Foreclosure Auctions 101

As in buying any other high ticket item, homes sold at house foreclosure auctions need to be carefully studied. The entire process of the auction is quite simple but first time buyers would be better off reading up about it first.

If home auctions are your target then you must know that cash is usually the mode of payment for these properties. Your search will start with a list of scheduled foreclosure auctions in the place you prefer. The most comprehensive and accurate listings of auction homes can be found in the Internet at online foreclosure listings sites. They can also be spotted at the county records office, through newspapers, lending companies and real estate firms. Your bank may have a list and so may your real estate agent. You just have to be sure the information you have gathered is accurate and up to date. This is the type of information that can change really fast and so it may be prudent to make a small investment on an online resource.

When you have seen the home you like there are some other tasks you need to undertake, and these are the title search, the home inspection and the comparative value analysis. Details on how these tasks may be carried out are also in that online resource you will use. If you feel confident you have armed yourself with the best information and knowledge then you can begin showing up at house foreclosure auctions.

You must have a ceiling for how much you are willing to bid for the property. Do not get carried away by the emotionally charged atmosphere of an auction and overbid. Set a budget and stick to it no matter what. Make sure you have the date, time and venue of the auction right. Arrive early for the registration and come prepared with an amount equivalent to 10 percent of the opening bid as this may be required in order to participate in the auction. It may be a good idea to string three or four auctions to participate in so that you have a number of fall-back if the first auction is unsuccessful. It may also be a good idea to set a lead time of about a month before your first auction. This will give you time for your research and time to watch two or three auctions first to get a feel of what it is like.

Communities in the southern part of Boston, Massachusetts have recorded higher number of properties being sold at foreclosed home auctions in 2010. According to foreclosure counseling agencies, an increased number of homeowners have also sought their services during the past 10 months.

Along with the increase in the number of homes falling under Boston foreclosure listings, foreclosure agencies such as Neighborhood Housing Services have also reported an increase in the number of clients during the year. According to the federally-funded group, their counselors have entertained around 1,000 homeowners in 2010 compared with only 400 in 2009.

Meanwhile, Massachusetts home foreclosures recorded higher levels in areas like Brockton and Quincy in the past six months. From May to the end of October, foreclosures in Brockton rose to 558 from a total of 188 recorded during the same six-month period of 2009. In Quincy, 168 foreclosure-related petitions were recorded during May-October 2010 from 43 a year ago.

Weymouth, on the other hand, had 157 foreclosure filings and properties sold at foreclosed home auctions during the covered period in comparison with 49 in 2009. With these huge increases, foreclosure counselors have stated that it will benefit homeowners if they sought the help of federally-supported foreclosure advisers and try to work out a plan to prevent having their properties seized by lenders.

According to the counselors, it is best for homeowners to seek help early on. They stated that homeowners should not wait until their properties are already included in listings of property foreclosures before they seek advice and must come to counseling the moment they feel that they will have trouble paying their loans.

Agencies like Neighborhood Housing Services offer counseling to troubled homeowners and also provide help in facilitating a negotiation between lenders and borrowers. Other services offered by such counseling agencies are rehabilitation loans that can be used in making home repairs, particularly by homeowners who have poor credit ratings. Working out a payment schedule that will be affordable to the homeowner is also part of the agencies' services.

Housing market analysts have reported that a big percentage of residential properties being sold at foreclosed home auctions are owned by homeowners with conventional loan mortgages, demonstrating the fact that foreclosures are not just affecting subprime mortgage holders anymore.

Search home foreclosures in Massachusetts cities:

• Lowell Foreclosure Listings
• Plymouth Foreclosure Listings
• Lynn Foreclosure Listings
• Fall River Foreclosure Listings
• Fitchburg Foreclosure Listings

The law recently signed by New York Governor David Paterson will strengthen the legal rights of homeowners in the state and will have some effect on the foreclosure condition of the area, housing market analysts have said. They added that the regulation might help lower the number of houses falling under foreclosed property auction listings in New York.

According to real estate experts, the law might help ease the problem caused by the expanding foreclosure listings in Bronx and in other key areas of New York. The regulation is said to be designed to provide a fairer ground for all parties involved in foreclosure cases.

The Access to Justice in Lending Act, analysts explain, provides homeowners with a legal right to recover lawyers' fees in lawsuits that involve New York home foreclosures. Analysts asserted that this law will put borrowers at an even footing with mortgage servicing firms.

They also added that the regulation comes at a good time since the issues of faulty foreclosure documentation and lender negligence have resulted in questions of whether borrowers' rights are being ignored in the foreclosure process. Proponents of the new law stated that this might help the state lower the levels of residences ending in foreclosed property auction listings.

Prior to the implementation of the law, lenders have the right to get back lawyer fees from the borrower if they were able to successfully bring or find home foreclosures actions against a borrower. Under the new regulation, homeowners or borrowers now also have similar rights. According to proponents of the regulation, this will make a lot of difference for troubled homeowners' causes.

They asserted that homeowners who have valid reasons to fight a foreclosure can now hire lawyers whose services they previously cannot afford. Supporters of the law also asserted that the law means that lenders will be forced to be more careful in processing foreclosures since most homeowners will now have the means to challenge them in courts.

Several nonprofit organizations in New York have supported the new regulation. They stated that this law will help lower the number of homes in foreclosed property auction listings since more homeowners will be encouraged to take their cases to court.

Search home foreclosures in New York cities:

• Foreclosure Listings in Jamaica
• Foreclosure Listings in Bay Shore
• Foreclosure Listings in Central Islip
• Foreclosure Listings in Saint Albans
• Foreclosure Listings in Far Rockaway

Auction foreclosures have their own way for charming prospective buyers. They are probably the lowest priced foreclosures in the market, they offer instant equity plus they are transferred quickly to the new buyer. But these homes are sold as is and some of your costs will definitely go to repairs and renovation. Also, there may be hidden taxes or encumbrances still attached to the title. So it is best to approach this matter with caution.

Auctions are Frequent and Easy to Find

Auction foreclosures are quite easy to spot. The weekend editions of newspapers dedicate entire sections for foreclosures, particularly auction foreclosures. They are likewise online in various foreclosure listing sites.

Easy Ownership

Purchasing auction foreclosures are way easier than other types of foreclosures because they are cash sales. Winning bidders instantly become home owners. Auction rules vary in different states but they are all pretty much similar to each other. If you hit a roadblock in terms of the auction rules, you can always consult a lawyer or a local real estate broker and remove the snags along the way.

The Benefits of Auctions

Homes sold in auction foreclosures represent savings for buyers. The beginning bids are very low and sometimes the turnout is not that great so there is a good chance that you can go home with the property, which you purchased at a very low price. The savings you realized could go to improving the home and increasing your equity.

A thing to keep in mind is to not be carried away by the bidding wars. You have to set a limit on just how high you are willing to go and stick to it. If you are doing it for the first time, it may be wise to attend some auctions without bidding to get a feel of the atmosphere and keep your emotions in check when you finally join one.

The city of Sacramento, California represents one of the worst foreclosure scenarios, with list of foreclosure auction in the city in worse condition than other metro areas. However, local market analysts have stated that even within the city, the effect of the crisis varies from one spot to another.

Sacramento foreclosure lists are some of the most extensive in the whole U.S., but looking at local areas like Davis, people will not feel the impact of the housing market problem. Compared with the southern part of the city, Davis seemed to have been spared from the foreclosure problem.

According to local housing market analysts, areas like Davis only felt the tremor of foreclosures, while the southern part of the city took the blunt of the crisis. The southern area of the region account for a large percentage of properties that are under foreclosure lists in California, analysts have reported.

An average of 150 houses fall under foreclosure property listings every month in the southern Sacramento area since the start of the industry crisis. In comparison, Davis did not even reach 150 in five years. According to realtors in Davis, their market is mainly high-end and supplies of homes are somewhat limited.

Analysts have reported that in Sacramento, majority of areas with the most extensive list of foreclosure auction are also the areas suffering from high poverty levels. They stated that this is because poor homeowners find it more difficult to pay their mortgages, hence the tendency to take out a bad loan and consequently, the more chances of defaulting and falling into foreclosure.

In the southern part of the city, subprime lending has thrived during the housing boom, which inevitably led to higher foreclosure rates during the crisis period. The area has recorded around 9,000 foreclosures since 2005. This translates to a ratio of one foreclosure for every six households. Values of properties have also declined by around 64% in the area.

In comparison, Davis has only had 130 foreclosed properties during the period of 2005-2010. This represents a ratio of one home under list of foreclosure auction for every 125 within an almost five-year period. Values of residential properties in Davis have declined by an average of 18% since their peak, analysts have reported.

Search foreclosure lists in California cities:

• San Diego Foreclosure Lists
• Oakland Foreclosure Lists
• San Jose Foreclosure Lists
• Riverside Foreclosure Lists
• Modesto Foreclosure Lists

The condition of unemployment and foreclosure auction listings and rates of bankruptcy remain practically the same in July compared with June, causing the economic stress levels of most states to remain unchanged. However, the level of economic distress varies from one local community to another.

Although Omaha home foreclosures remain a problem, data from the Associated Press for July 2010 showed Nebraska being among the healthiest states in terms of economic stress scores. The state that ranked highest according to lowest economic stress score is North Dakota, which recorded a July score of 4.24.

Nebraska home foreclosures remain almost the same in July as in the previous month, with unemployment and bankruptcy rates also maintaining the same range. The state came in third among regions with the lowest level of economic stress for the month with a score of 5.92.

Only two states scored lower in the economic distress department than Nebraska; first placed North Dakota and second placed South Dakota, the latter posting a 5.05 score. Unemployment and house foreclosure lists conditions in these areas are relatively better when compared with other states that made the top five list of areas with the highest level of stress.

Huge number of properties under foreclosure auction listings put Nevada on top once more, with the state posting a 22.1 economic stress score. According to July statistics, one out of 4.5 residents in Nevada was either facing foreclosure, unemployed or was facing bankruptcy in July. Nevada was joined in the top five by Michigan, California, Florida and Arizona in that particular order.

The AP reported that stress levels eased a bit in some counties and local areas that rely heavily on mining, finance, wholesale trade and agriculture. Meanwhile, local areas with majority of its residents working in retail or real estate recorded high levels of stress during the month of July. The average economic stress score for counties in July is at 10.5, the same score recorded in June.

Based on the AP index, a county or state that earned a score above 11 is considered economically stressed. The scores are derived based on several factors that include unemployment, bankruptcy rates and the number of properties under foreclosure auction listings, including properties in all phases of foreclosures.

The number of foreclosed dwellings falling under Arizona house auction listings creates further problems for homeowners in the state. With foreclosures resulting in the continuous increase of abandoned homes in the state, most homeowners associations (HOA) reportedly try to recoup unpaid dues from these abandoned properties by increasing fees for the rest of the members.

The state's foreclosure rates remain at very high levels particularly in key cities, with Phoenix home foreclosures as some of the examples. According to state housing market statistics, around 10% of HOA members in Arizona have walked away from their residential properties in the past one year and a half.

With the number of home foreclosures in Arizona continuing to rise, fees collected by HOAs continue to decline in turn. This has forced most of the associations to increase the amount of dues paid for by existing members, cut down on services and target homeowners who are late in paying their monthly HOA fees.

Because of this, those homeowners who have so far avoided losing their homes to listings of house foreclosures are forced to shoulder the additional financial responsibilities and make up for the slack created by homeowners who have abandoned their dwellings.

Most HOAs operating in areas with the highest number of foreclosed properties under house auction listings are reportedly under bankruptcy threat. These areas include Maricopa, Hunt Highway and Buckeye. The possibility of an HOA bankruptcy can create further problems for the state's housing market, with buyers facing possible problems of obtaining title insurance which could then lead to homes becoming impossible to purchase or sell.

According to local real estate analysts, HOAs are likely to continue to face such problems in the coming years. They stated that HOAs do not have the means to cope with delinquency rates of 20 to 38%, particularly with no help to expect from cities and towns that are also suffering from financial problems. They added that a 5% delinquency rate is all an HOA can take, particularly in such market conditions.

Analysts stated that the only recourse left for HOAs to recover some of the fees lost to thousands of homes that have fallen under foreclosure house auction listings is to pursue homeowner members who have been delinquent in paying their monthly dues.

Search home foreclosures in Arizona cities:

• Tucson Home Foreclosures
• Mesa Home Foreclosures
• Glendale Home Foreclosures
• Scottsdale Home Foreclosures
• Gilbert Home Foreclosures