Archive for the 'cities' Category

Phoenix foreclosures reached record high in 2009 as unemployment forced about 41,000 homeowners in Maricopa County to default and lose their homes, according to the Arizona State University W.P. Carey School of Business.

Pittsburgh foreclosures climbed up in November 2009 in the region, but they did not push down home prices because their number is relatively low compared to foreclosures in other regions or cities.

San Francisco foreclosures and bankruptcies continue to rise as more homeowners lose their jobs and as financial difficulties spread into middle class enclaves, which were previously strong enough to weather the initial months of the economic meltdown.

Queens foreclosures for sale have been rising sharply in middle class enclaves as more employees in these areas lose jobs.

Stockton foreclosures became a symbol of what went wrong with the U.S. housing sector particularly for the first months of the housing meltdown, but over the past several months, foreclosed homes in the area have become opportunities for investors and for Bay Area workers looking for homes they can afford.

Tampa foreclosures in shadow inventory may further depress prices in the area in 2010 if they are actually released to the residential market which is already struggling from price decrease rates that have already exceeded 40 percent.

More foreclosed properties are expected in New York City's commercial sector as vacancy rates continue to rise and as rents continue to fall in the city.

Bank foreclosures sales have been rocking small banks in many communities in Georgia partly because they lack personnel who have the experience and expertise to find ways to resolve complex financial problems arising from the foreclosure crisis.

Every bank owned properties list in South Florida has been including an increasing number of commercial properties since 2009 as developers and property owners continue to be battered by lack of additional bank financing, lack of tenants, decline in rents and lack of property buyers.

Hialeah foreclosures may drop if the reopening of the Hialeah Park Race Track and if the planned developments adjacent to and in conjunction with the park create jobs for a lot of Hialeah residents and people moving to the city.

Fort Lauderdale foreclosures in the condo sector will be contained through bulk purchases if a new legislative bill that would revise the liability of bulk buyers and would facilitate bulk buying in Florida is approved.

Chicago foreclosures have been surging in African-American neighborhoods, according to analysts working with the Woodstock Institute in Chicago.

Charlotte foreclosures continued to put downward pressures on the construction industry in the area, based on data from the Charlotte Regional Realtor Association in North Carolina and the Associated General Contractors of America.

Dallas foreclosures have been surging in high-end communities over the past several months, according to reports from a Texas-based foreclosure tracking firm and the North Texas Realtors.

Boston foreclosures pushed home prices down and drove the city to become third in a ranking of U.S. cities with the biggest percentage of homes sold with price discounts as of the start of December, based on listings tracked by a real estate research company.