From the monthly archives:
As of the first quarter of 2007, the foreclosure activity in Tennessee is slightly slowing down compared to 2006’s activity. The first three months of this year showed 10.878 homes in some stage of foreclosure, a 7 percent decrease from last year. With thousands of Tennessee foreclosure listings in the market, many buyers have already enjoyed the advantages of choosing these homes over brand new homes.
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Although there were 11,510 homes that entered some stage of foreclosure during the first three months of 2007, the foreclosure activity in Indiana shows signs of slowing down. Experts have observed a significant 25 percent drop in foreclosures rate from a year ago. Among the thousands of foreclosed homes, Indiana foreclosure listings offer the most promising return potential.
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Colorado foreclosure listings rate remains at the number two spot among the states with highest foreclosures rate. With 1 foreclosure out of every 345 households in April, it is still undetermined when the increasing trend would finally slow down or stop. The foreclosure activity creates the opportunity for buyers to take advantage of the great investment opportunities that these homes offer. Among them, Colorado pre-foreclosures are considered to have the most bargain potential.
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In the first quarter of 2007, Nevada posted the highest foreclosures rate with a quarterly rate of 1 out of 75 homes entering some stage of foreclosure. This April, the state continues to lead with a monthly foreclosure rate of 1 foreclosure out of 278 households. Real estate experts are worried that the trend will continue until the end of the year as many more subprime loans are expected to reset, further adding to the large inventory of Nevada foreclosure listings.
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When the first quarter of 2007 ended, Ohio had the 8th highest foreclosures rate. But as more owners defaulted on their mortgages, the state now ranks 7th for the month of April. In Ohio, there was 1 out of every 640 homes in some stage of foreclosure. Buyers are definitely looking into the great investment opportunities offered by these Ohio foreclosure listings.
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The number of California homes in some stage of foreclosure continues to rise. The state recorded a total of 80,595 foreclosure homes for the first quarter of 2007. The high foreclosures rate is still being blamed to increasing interest rates as well as predatory lending practices by aggressive lenders. With the thousands of California foreclosure listings for sale, it is nor surprising that many consider these homes as great investment opportunities.
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The state of Michigan reported 29,467 homes entering some stage of foreclosure, for the first quarter of 2007. With a ratio of 1 out of every 143 homes, the state has the 4th highest foreclosure rate in the nation. Since there are thousands of Michigan foreclosure listings, homeowners are worried of its effect on the current housing prices.
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In Georgia, there were 22,391 homes in some stage of foreclosure recorded from January to March of this year. With a rate of 1 out of 138 homes, Georgia has the third highest foreclosures rate in the nation. Interested buyers can search for these properties by utilizing reliable Georgia foreclosure listings.
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When the nation’s foreclosures rate started to rise, Connecticut was among the states that experienced a staggering increase. After one year, the state’s current foreclosures rate has already soared by 70.87 percent. With 1 out of 324 homes in some stage of foreclosure, local residents are worried that the worsening trend would soon affect the housing prices. For now, the number of Connecticut foreclosure listings is considered as the 16th highest.
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For the first two months of 2007, Arizona recorded 4,476 foreclosure filings in March compared to February’s 3,116. This brings the total number of Arizona foreclosure listings to 11,757 for the current year. The state is still struggling with the increasing number of homes entering some stage of foreclosure. With 1 out of 186 homes in mortgage default, Arizona foreclosures rate is among the nations’ highest.
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