Foreclosure Rise Drastically During 1st Quarter
Now that the first quarter of 2008 is officially over, experts have begun to analyze foreclosure data to determine some of the trends in the first part of the year. The first reports are indicating that in several major metropolitan areas, foreclosures have risen drastically.
Foreclosure Have Devastating Effect on Home Prices
New reports are being issued showing that home prices across the nation are continuing to fall drastically as a result of the rising trend in foreclosure. The national median price of a single family home fell by nearly 9% from February of 2007 to February of 2008, with some of the areas with the lowest median home values also laying claim to some of the highest rates of foreclosure.
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Gulf Coast Citizens Becoming Victims Once Again
As the foreclosure epidemic sweeps through the gulf regions of states like Alabama, Mississippi and Louisiana, victims of Hurricane Katrina are losing their homes once again, but not to any force of nature. More and more homes are going to auction along the Gulf Coast, and as foreclosures increase, families who have just gotten their lives back together are once again going to have to start over. But fortunately, many investors have been able to assist homeowners in this region by buying their properties from them before they are foreclosed, allowing them to avoid a credit ruining foreclosure and pay off their debt, while the investor gets a great deal.
Houston Foreclosed Homes Inventory Low, But Expected to Increase in 2008
The market for Houston Foreclosed Homes appears to not be rising as rapidly as the rest of the country, but it is still a market worth watching and investing in.
Los Angeles Foreclosed Homes Rising Steadily in 2008
The Los Angeles foreclosed homes market continues to grow in 2008, as new statistics are indicating that first quarter foreclosures were up 130% over the first quarter of 2007.
