Foreclosure statistics: 4 month decline
December 23rd, 2009 categories: Buyer Strategies, Mortgage & Finance
We saw a foreclosure peak in July 2009 and since that time the national foreclosure activity has dropped through 4 consecutive months.
In November we saw another 8% drop.
On a national basis, foreclosure stats are still heavily tilted by a small number of states.
As reported by RealtyTrac.com, more than half of November’s foreclosure-related activity came from just 4 states:
- California
- Florida
- Illinois
- Michigan
Rounding out the top ten list are Arizona, Texas, Ohio, Georgia, Nevada and New Jersey.
At least for right now, I am seeing the bargins are a bit harder to come by. But there are still good deals out there.
And remember too that you need to go into the foreclosure situation with eyes wide open. This route is not for everyone. Work with knowledgeable pros so you know what you are getting into. Remember, you are buying “as is” and the administrative process can be stressful and unpredictable.
But for some folks it can be the way to go. Just get the reality view form those who know what is involved.
Some say the great deals won’t be around much longer. I hope they are right, but all I see and hear tells me there are a lot of foreclosures coming down the pike..
At this time as an overall average, “Distressed home” sales now account for 30 percent of home resale activity.
It you want to see what is available in the Chantilly area by way of foreclosures, or elsewhere in Northern Virginia, let me know. I will get you whatever is current.
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