The number of foreclosures rose 50 percent between February and March this year, and this seems to be the current trend that is continuing to grow this year. With the flood of houses on the market, prices are falling- especially foreclosures.
The foreclosure market is increasing more than it ever has, and buyers are, studies show the only ones gaining anything. These houses can be bought at just cents on the dollar, and with a little bit of work, can be the perfect home. Low interest rates and the rapid depreciation in many area are also reasons why more foreclosures are available than ever. There are several reasons why foreclosures are happening more often, the main reason of course being sub prime lending and ARM loans. Foreclosures are available all across the nation, from California to Carolina. foreclosures in Philadelphia have risen exponentially. While most states are seeing a rise in foreclosures Virginia, Maryland and Washington D. In 2000, the Philadelphia sheriff said he dealt with 300 to 400 foreclosures a month, but within the last few years the number has grown to over 1, 000 a month.
D have low foreclosure rates as most homeowners still manage to sell before they are foreclosed on. As mentioned above, these houses can often be bought for just a fraction of what they are worth. Foreclosures, when readily available as they are now, can be a great investment. Not only does this save the buyer money, but when it comes time to resell, the investment really pays off. You can speak to a Realtor about the houses available in your area. There are several ways to learn more about foreclosures. However, one of the great things about foreclosures is the amount of information about them available online.
CurrentForeclosures. com has a list of foreclosures updated every day so that you can stay updated on all the available homes in your area. WWW. For those looking for a house for their family or for those looking to find a fixer- upper and sell quickly,
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