Thousands of foreclosed homes have reportedly remained unlisted in Florida bank and HUD homes listings. According to housing market analysts, the state has the highest number of unlisted foreclosures or shadow inventory in the U.S. Analysts refer to foreclosed properties, repossessed homes and delinquent mortgages not yet listed as for-sale or have yet to enter the market as shadow inventory.

According to data presented by the National Association of Realtors, more than 440,000 homes are in the state's shadow inventory, ranking Florida number one nationwide. These residential properties can enter Miami foreclosure listings and distressed listings in various key markets of the state in the coming months which could pull housing prices down even lower.

Analysts also stated that if these unlisted homes enter foreclosure listings for Florida in droves, the values of properties will plummet and the recovery of the state's housing industry, already fragile to begin with, will take a much longer time than initially expected. California came second in the Realtors' report, with the region having almost 228,000 unlisted foreclosures. Housing experts have stated that the issue of shadow inventory will be hanging over Florida's housing market in the coming months, with realtors and home sellers wondering when they will come in and how many of them will be released at a given time.

Meanwhile, housing market experts have stated that the number of unlisted properties in bank foreclosure listings and HUD homes listings in Florida was higher than other regions of the U.S. mainly because property speculation was rampant in the state during the real estate market boom. They also asserted that the judicial system for foreclosures that is in place in Florida plays a role in expanding the region's shadow inventory.

According to them, the fact that every single foreclosure action is required to go through Florida courts has created a huge backlog of cases in courts, with the number of pending cases estimated to be at more than 322,000. When nationwide foreclosures started rising, analysts explained that Florida was caught with too few judges and too many properties with too few buyers. The robo-signing controversy last year also did not help the state keep up with the workload, analysts further stated.

Despite the seemingly grim news, some housing experts have asserted that the problem of unlisted properties in bank foreclosure and HUD homes listings is not as big as it appears. They believe that not all of them will end up as foreclosures, given that the economy has started to improve.

Some U.S. areas are considered better places for homebuyers than others. Although housing industry analysts stated that most of the country's residential markets offer a lot of bargain properties, including those under a HUD foreclosure list, there are others that offer more choices and where buyers can renegotiate a deal for an even lower price.

According to realtors, foreclosure listings in Minneapolis offer some of the best bargains in the nation. They stated that median prices of houses in the city and other nearby metro areas have declined to around $120,000, which means that a buyer with a relatively good job can afford to buy a house in the region. They also stated that buyers can often negotiate for a price that is even lower than the listing price of the property.

Real estate market observers stated that it is not only in foreclosure listings for Minnesota where homebuyers can find great bargains. Some of the areas highly recommended by realtors are Miami, Sarasota and Orlando in Florida and Chicago, Illinois; and, of course, Las Vegas, Nevada. According to realtors, in these markets, a house is often sold at around $10,000 to $15,000 less than its listing price.

They revealed that prices of residential properties as well as those found in the HUD foreclosure list of Minneapolis are affected by the circumstances of the seller and by the condition of the neighborhood where the property is located. A seller eager to unload his property will be more than willing to lower his asking price.

They also stated that an area with a high number of short sales and properties under foreclosure listings often offer the best bargains for homebuyers. Realtors explain that a house being sold will experience a decline in value if one of the properties in the block where it is located gets foreclosed. If another foreclosure in the same area happens, the value of the for-sale property drops another notch.

Despite these great bargains, housing market observers stated that majority of potential homebuyers are still waiting on the sidelines. They stated that this is so because most of them believe that the housing industry has not yet hit bottom and the number of foreclosures, such as those available in a HUD foreclosure list, will continue to rise and prices will drop further.

Search foreclosure listings for Minnesota cities:

• Foreclosure Listings in Burnsville
• Foreclosure Listings in Andover
• Foreclosure Listings in Duluth
• Foreclosure Listings in Elk River
• Foreclosure Listings in Lakeville

Single family dwelling sales for both non-foreclosures and those under bank and HUD foreclosure homes list declined in Houston, Texas in November 2010. However, although sales declined, prices of residential properties rose in the city for the same month.

The number of single family housing units sold for the month, including both Houston foreclosures for sale and regular residences, dropped by 22% in November 2010 compared with the same 2009 month. In terms of year-over-year figures, sales for the current year decreased by 5.6% compared with 2009. According to city housing data, sales activities remained strong in the lowest and highest priced segments of the market, with middle-priced dwellings recording the biggest decline.

Single family properties in non-foreclosure and Texas home foreclosures list with prices ranging from $80,000 to $500,000 were mostly ignored by homebuyers and investors. The sales decline in this price range dragged the whole monthly sales figure down compared with previous year's levels. However, both median and average prices of homes improved during the month.

According to housing industry reports for November, the higher than usual sales in the luxury residential properties segment helped pull the prices of houses up. For the month, the average price of single family houses sold, including non-foreclosures and those under bank and HUD foreclosure homes list, was at $219,560. This represents a jump of 11.8% compared with November of last year.

Meanwhile, median prices of non-foreclosure single family residences and houses in listings of foreclosed properties edged up to $152,500, representing an increase of 1.7% from November 2009. When it comes to sales of all types of properties, November posted a decline of 22.2% compared with the same month in 2009. Total property sales for November of this year reached 4,200. In terms of total U.S. dollar amount, properties sold in November 2010 reached $906 million, translating to an 11.6% decline compared with last year's $1 billion total.

According to housing market analysts, the current figures show that the housing industry of Houston is taking some time to recover following the end of the federal tax credit which resulted in high sales of properties under bank and HUD foreclosure homes list during the first half of 2010.

Search home foreclosures in Texas cities:

• Dallas Foreclosures for Sale
• Arlington Foreclosures for Sale
• Austin Foreclosures for Sale
• Katy Foreclosures for Sale
• Grand Prairie Foreclosures for Sale

Although Michigan is still suffering from considerable supplies of bank foreclosures and properties under list of HUD homes, most residents believe that the state is on its way towards a more stable economy, particularly as the unemployment rate in the area recorded further declines for the month of October 2010.

Although the number of properties falling under Grand Rapids foreclosure listings and under distressed property listings in various housing markets of the state continues to rise, Michigan can look forward to a better economic environment as unemployment rate declined to 12.8% in October. This marks the first time that the jobless rate has gone below 13% in the state since March of 2009.

The decline has far reaching implications, not least of which is the increase in the number of potential buyers of properties under Michigan foreclosed home listings. The October rate also represents a decline when compared with the same month of last year when unemployment was at 14.4%.

Michigan is also doing much better than the whole country in terms of unemployment, with the state even recording a decline of 11.6% during the year compared with the 4.9% drop recorded nationwide. Although bank foreclosures and list of HUD homes remain a problem in Michigan, the continuous decline in its unemployment rate can only mean good news to its residents.

With Michigan's unemployment rate declining at a faster rate than the national average, local realtors are hopeful that more people will be searching foreclosure listings and more buyers will consider taking advantage of cheap property prices to get back on the homeownership track. In addition, businesses have started coming into the state to start new projects as evident in the number of tax break requests received by the local government.

The region has added around 9,000 jobs in the manufacturing industry and around 7,000 in business services so far in the current year. The education and health sectors have also added around 6,000 jobs each. With more jobs coming, housing industry analysts are predicting that the state's population will expand and more people will be seeking rental properties or will consider purchasing houses, including foreclosed properties and those under the list of HUD homes.

Search home foreclosures in Michigan cities:

• Waterford Foreclosure Listings
• Flint Foreclosure Listings
• Lansing Foreclosure Listings
• Sterling Heights Foreclosure Listings
• Ypsilanti Foreclosure Listings

Some housing market analysts have asserted that the big number of properties under bank, government and HUD foreclosure listings in Albuquerque, New Mexico has affected home buyers' confidence in the market, resulting in lower sales for the 2010 third quarter.

According to the latest housing data, Albuquerque home foreclosures list continued to scare off buyers, with home sales recording a 23% drop in the third quarter of the current year. For the month of September, the decline is over 27% and pending home sales are 29% lower than previous periods.

Housing experts have also stated that higher sales recorded in the first two quarters of 2010 have a lot to do with the federal tax credit program that helped thousands of home buyers make purchases, even with the huge supplies of properties in New Mexico foreclosure listings. The April 30 deadline however, has also ended the interest of buyers towards home purchasing, they further added.

In addition to the issue of bank and HUD foreclosure listings, home buyers are also worried by the unemployment rate of the state. Consumer confidence has also declined considerably in the area, analysts have added, with potential buyers reluctant to let go of any money they have for fear of losing their jobs and losing a big chunk of their household income.

Meanwhile, housing data also find foreclosure list and existing housing lists in the Albuquerque metro dropping for the third quarter compared with the same 2009 period. However, sales prices for the quarter in focus did increase when compared with the 2009 third quarter. Sales activities in certain areas of Albuquerque, Bernalillo, North Valley and Placitas also exhibited improvements.

However, housing data showed that these increases in selling activities are isolated and can be found only in some pockets of certain counties. Housing industry observers have attributed the isolated cases of increased sales activities to the lower interest rates being offered to consumers.

In terms of dollar equivalents, houses sold during the third quarter are valued at $104.3 million, representing a 25% drop when compared with the 2009 third quarter. Industry observers are expecting sales for both regular dwellings and properties under bank and HUD foreclosure listings to remain low until the first half of 2011.

Search home foreclosures in New Mexico cities:

• Rio Rancho Home Foreclosures
• Las Cruces Home Foreclosures
• Belen Home Foreclosures
• Alamogordo Home Foreclosures
• Clovis Home Foreclosures

The number of homes under bank foreclosure listings and listings of HUD foreclosures declined in Nevada for the month of August 2010. However, the number of borrowers who are behind in their mortgage loan payments is still rising and the state is still ranked top among states in the U.S. in terms of foreclosure activity.

Foreclosure listings in Las Vegas and in other metro areas of the state have shown some improvements, with statewide foreclosure filings dropping by 25% for August 2010 when compared with the same month of 2009. This marks the 11th successive month that the state has recorded a decrease in filings compared with previous year's totals.

When compared with July 2010, foreclosure listings in Nevada showed a decline of 2.5%. According to analysts, the decline can be partly attributed to the rising number of lenders working with borrowers to come up with solutions to prevent foreclosures, including short sales. Nevada has been number one among the 50 U.S. states in terms of foreclosure since January 2007.

Despite the decline in the number of homes under bank foreclosure listings and listings of HUD foreclosures, the state is still facing huge housing problems. Latest industry data showed that one household out of every 84 has received a filing in August. This ratio is 4.5 times higher than the nationwide average and is considerably higher than second placed Florida, which has a ratio of one household out of every 155.

In terms of metro areas with at least 200,000 residents, Las Vegas remains the number one city in all of the U.S. for foreclosure filings and property numbers under real estate foreclosure listings. The city has a foreclosure ratio of one out of 73 for the month of August. The metro's total filings for the month posted a decline of 25% when compared with August 2009.

Meanwhile, default notices for the whole state remained flat between July and August 2010, with only three notices marking the difference between the two months. When it comes to foreclosure filings and the number of properties under listings of HUD foreclosures and bank listings, the decline is attributed by analysts to fewer bank repossessions for August compared with July.

Search foreclosure listings in Nevada cities:

• Foreclosure Listings in North Las Vegas
• Foreclosure Listings in Sun Valley
• Foreclosure Listings in Fernley
• Foreclosure Listings in Carson City
• Foreclosure Listings in Incline Village

August saw the housing market of Charlotte, North Carolina recording significant declines, with properties under HUD home listings and all types of residential properties posting poor sales numbers. The August numbers for pending sales and actual sales are the lowest for over a year, analysts have reported.

Around 1,700 dwellings, condos, townhomes and Charlotte home foreclosures were sold in the city in August, representing a 23% drop from the same month a year ago. The data was presented by the Charlotte Regional Realtor Association which also reported that closings declined by 13% in August 2010 when compared with July 2010.

In terms of pending sales or those contracts that have already been signed but are not yet closed, the decline was about 28% when compared with August 2009. The total number of pending North Carolina home foreclosures, existing houses and newly built dwelling sales totaled 1,740 in August, representing the biggest decline since March of 2009.

Realtors in the city have expressed optimism that the market will eventually attain stability, although they did admit that the huge number of properties under foreclosure home listings is causing buyers to stay away from the market. One good thing realtors are focusing on is the rise of home prices in August.

Although most properties under HUD home listings and foreclosed houses remain below market average, prices of regular dwellings are able to keep a balance within the market, with average home prices rising by over 7% to a little over $225,000. Average listing rate of homes are also up when compared with 2009 figures by 8.4%.

Real estate observers have stated that the decline in home sales is mainly due to the federal tax credit deadline. Sales of houses jumped during the beginning of 2010 due to the tax credit, but have returned to dismal levels since the deadline. Another factor cited by analysts for the sales decline is difficulty in acquiring mortgage due to tighter regulations.

Meanwhile, some realtors have reported some improvement in terms of buyer interest during August, particularly for cheaper dwellings like those under HUD home listings and properties within the $200,000-300,000 price range. Although not a lot of move has been made, realtors are optimistic that questions about availability are good signs, particularly in the current state of the market.

Recent research reports show that thousands of residents in California, as well as in other areas of the U.S., lose their homes to bank, government and HUD foreclosure lists because they decided to stop paying their mortgages. Most of them continue to live in their houses and are just waiting until lenders take over their properties.

According to reports, some owners of properties under foreclosures in various areas of the state, including those under foreclosure listings in San Francisco, have stopped exerting efforts to find ways to pay their loans and are just holding out until help comes or until they get evicted by banks.

Local real estate market observers have stated that some property owners who are about to lose their homes to California foreclosure lists are victims of the economic downturn, while others are just opportunists who believe that it is not worth it to pay mortgages that are worth more than the value of their homes. The latter types are those who look at their situations as a rent-free opportunity. That is, until they are thrown out by their lenders.

As the number of houses under bank and HUD foreclosure lists reaches record numbers in various states of the U.S. including California, real estate experts claim that the decision not to make any move to save properties has become quite common. Experts have also stated that this phenomenon is vastly different from past housing market crises and is the result of huge numbers of foreclosures.

Analysts have stated that before, banks move swiftly to take over properties under foreclosed house listings. Now, with the number of foreclosures reaching record levels, banks and lenders find it difficult to keep up, while others are just reluctant to add more properties to an already weak market holding millions of foreclosed houses in its books.

This situation, experts have revealed, makes the condition of the housing market worse as banks try to work through their backlogs and homeowners live in uncertainty, with most of them just waiting for the axe to fall, sometimes for months and even years. Market analysts have added that high unemployment rates are also not helping lessen the problem of foreclosed properties under bank and HUD foreclosure lists.

List of HUD foreclosures and listings of other types of foreclosed properties contain varied property types and different profiles of homeowners. In Trenton, New Jersey, Mayor Tony Mack is facing the possibility of losing his home as it was added to one of the area's foreclosure listings.

Trenton foreclosure listings recently had to make room for Mack's Berkeley Avenue property as the County Sheriff posted the sale. So far, the Mayor has yet to reveal how much he owed and how long has he been delayed in paying his mortgage. According to County Sheriff Kevin C. Larkin, the sale aims to raise over $319,000 to cover the judgment. Additional costs are needed to also cover interest and other fees.

The case of Mayor Mack is just one of the many stories of properties falling under foreclosure listings in New Jersey. This case though, shows that not even prominent politicians or government officials are spared from the housing market crisis. Mack reportedly owed a further $753 for water and additional penalty.

The city has hundreds of properties under list of HUD foreclosures and bank foreclosures and like the owners of these properties, the Mayor also faces the problem of unpaid monthly mortgage. According to some local reports, $319,000 is the amount of balance on Mack's loan and the bank has called the mortgage due.

According to local market analysts, to free Mack's home from the foreclosed house listings, he needs to form an agreement with his mortgage lender. The Mayor needs to either make his loan current or set up a program of payment that will allow him to make the loan current at a specific period of time. Analysts have speculated that Mack was probably four months late in his payment since the bank has sued for the loan balance and not for the amount that he failed to pay.

The case of Trenton Mayor Tony Mack's home being put under foreclosure is, according to real estate market observers, a prime example that not even politicians and public officials are immune to problems related to the long list of HUD foreclosures and bank foreclosures happening in the city.

There are more opportunities to find affordable Marietta homes in the HUD foreclosure list as more distressed housing units in Cobb County entered foreclosure in May. Marietta is the county seat of Cobb.

For the July public foreclosure auctions, the number of homes posted increased. A total of 1,367 units were listed for the July public auction, up from the 1,354 units posted for the July 2009 auction. Notices for distressed properties in Georgia are required to be published for 4 consecutive weeks prior to the public auction.

Not all of these published homes eventually enter listings of bank owned homes, as a number of homeowners are able to restore their mortgage accounts to current status or are able to negotiate a deal with their lenders before the public auction date.

Since February this year, there were already 7,607 foreclosure sale notices published, up by 17.45 percent from 6,477 during the same 5-month period last year. Since not all distressed homeowners could not rescue their properties, a significant percentage enter listings of Marietta bank owned homes and the HUD foreclosure list.

The number of HUD homes has been rising throughout the country because the percentage of FHA home loans taken out and the percentage of FHA defaults have been climbing up. In the first quarter, the FHA has backed home purchase loans worth $52.5 billion. In 2008, FHA, Fannie and Freddie backed over 90 percent of all home loans after banks refused to provide loans on their own.

In April, the mortgage default rate in the Atlanta-Marietta metro area increased year-over-year to 3.06 percent, up from 2.1 percent in April last year.

During the same month, the number of bank owned properties in Georgia fell from 5,351 units in March to 4,770, but the number made a resurgence in May and rose to 5,299 units. Of the 23,676 units that became REO homes, a substantial number entered the HUD foreclosure list.

Search bank owned homes in Georgia cities:

• Decatur bank owned homes
• Atlanta bank owned homes
• Lawrenceville bank owned homes
• Douglasville bank owned homes
• Lithonia bank owned homes