RealtyTrac has put out foreclosure statistics for September. While the number dropped 4% from August, it is 29 % over a year ago. In my state of Arizona, one out of every 53 houses is in foreclosure. The worst in the nation is Nevada, with one in every 23 houses in foreclosure. There's a big sexy graphic representation here.
Tuesday, October 27, 2009
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4 comments:
As the bleeding continues, it provides a good opportunity for the buyer of homes from banks.
I recently purchased a 3BR/2BA home in central FL. Was built in 2007 - write-off $194K - my purchase price $90K. There is NO WAY that home could be built for that price (granite, tile, etc.).
Rented in 6 days - managed long-distance.
I've found my best investments in real estate, but it pays to take a lesson from Warren Buffett's strategy: The best time to buy is when there is bleeding in the streets.
Good luck!
amazing figures... Here in Denmark we have 600 filings each month..
Hmmmm ... Hawaii (1:185) ... May need to look into buying some tropical paradise. :)
These figures are too much. In six states more then 60% is going for foreclosure. News and reports are coming as if economy is moving up and real estate market is growing too. Graphic presentation via link in the post is brilliant.
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