Foreclosures Blog - Foreclosure Listings Nationwide

Despite being one of the leaders of the pack, the high Florida foreclosures rate will be benefiting a group of people immensely. These are the foreclosure investors. Believe it or not, foreclosure investing is all about knowing when the time is right to buy. Right now the large inventory of Florida foreclosed homes are creating a buzz among seasoned investors who are hoping to grab the best deals for foreclosure properties located in real estate hot spots.

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Last year, more than one million Americans lost their homes to foreclosures. Most of these foreclosures stemmed from the subprime loans which defaulted under the increasing interest rates and sluggish housing market. But as the number of Idaho repossessed homes rise, so is the number of owners who have become victims of foreclosure fraud.

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Since last year, Illinois has suffered the same fate as the rest of the nation with regard to increasing foreclosures rate. But the situation is definitely improving. As of last May, the state has the 13th highest foreclosures rate, down four places or at least an 18 percent decrease from April. The reason for the improvement can be attributed to the mandatory counseling program that owners and borrowers have to complete to avoid Illinois foreclosures.

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As of April, Arkansas is one of the states with the highest foreclosures rate. In fact, the state ranks number 14, with one filing out of 930 homes. The 150 percent increase from March this year has alarmed both local officials and especially home owners, who are mostly victims of predatory lenders. If you are one of these home owners worried about facing Arkansas foreclosures, you should arm yourself with information regarding foreclosure laws implemented in this state, to avoid having your home on a Arkansas foreclosure listings.

Last month, the nation celebrated the slight dip in foreclosures rate. Finally, the foreclosures condition seems to be improving. Sadly for May, it was not the case. As the figures came in, it showed that nationwide foreclosures rate increased by 19.25 percent. Many states were not fortunate enough to escape the trend. The number of Missouri foreclosure listings also went up by 20.87 percent, almost double the same rate last year.

When the figure for the May came in, almost everyone was shocked. Across the nation, foreclosures rate increased by almost 20 percent compared to last month’s data. There were 176,137 filings, majority of which were Notices of Default. This could only mean that many home owners still have trouble keeping up with their mortgage payments. Luckily for some states, this was not the scenario. Utah foreclosure listings rate has decreased by almost 2 percent from April and 29 percent from last year.

During the end of 2006, the large inventory of New Jersey foreclosure listings resulted to lower prices as the market tries to correct itself and buyer activity surge. For the past three months, robust sales activity fueled by low mortgage interest rates as well as a surprisingly strong employment market, was enjoyed. But now, the New Jersey housing recovery seems to be slowing down.

When the number of New York foreclosure listings was recorded during April of this year, the state posted a 3 percent decrease in foreclosures rate from the same month last year. But compared to last month, the state recorded a 10.46 increase. Still, the overall forecast for New York foreclosures activity is considerably better than the other states, thanks to a resilient real estate market, owner-friendly laws as well as sufficient foreclosure knowledge gained by most homeowners.

Market conditions seem to be improving in the beautiful state of Texas. For the month of April, Texas foreclosures rate has dropped by a considerable 10 percent with only 11,424 filings. Comparing the state’s foreclosure filings in April 2006, the rate has decreased by 17 percent. The “Lone Star” now occupies the fourth place among the states with the highest foreclosures rate, relinquishing its third spot to Ohio. In summary, the number of homes in Texas foreclosure listings represented almost 8 percent of the nation’s total.

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.