Archive for the 'States' Category

There are at least five reasons why foreign investors prefer Florida foreclosures. A study conducted by a national realtor organization found that about 4 percent of total home resales in 2009 involved non-resident foreign investors and that nearly one-fourth of all foreign property purchases in the U.S. in 2008 and in 2009 involved properties in Florida.

Housing overvaluation and overbuilding are two of the major reasons for record numbers of foreclosed homes in Florida.

Bank foreclosures in Florida's condo sector are being enforced by homeowner associations through a process called reverse foreclosure to force lenders to pay association dues and maintenance fees.

A recent report, released by First American CoreLogic, showed that Florida ranks third when it comes to underwater mortgages. This could easily mean that the number of foreclosures for sale will soon put the state on top of the list.

Bank houses foreclosures in South Florida slowed in January, based on data compiled by a Florida-based real estate firm. Analysts, however, could not say if the decline was the start of a trend or just a result of post-holiday mood.

Purchase bank foreclosures in Southern Nevada as home prices continue to fall in the region, based on sales data from the Greater Las Vegas Association of Realtors.

Illinois foreclosures pushed down the median home sales price statewide by 14.6 percent in 2009, based on data from the Illinois Association of Realtors.

Record Michigan foreclosures in 2009 reflected the dire unemployment situation in the state. In December, Michigan again posted the highest state unemployment rate - 14.6 percent - far above the jobless rate of the second-ranking state, which is Nevada with 13 percent, and the nationwide rate of 10 percent.

The pace of Texas foreclosures slowed in 2009, but may rise this year because of unemployment, according to the first issue of the Texas Quarterly Housing Report published by the Texas A&M University Real Estate Center.

The still record pace of California foreclosures in 2009 was largely driven by increased foreclosure activities in nine metro areas in the state.

Record numbers of Florida foreclosures put the state second in number of filings and third in foreclosure pace among all states in 2009, based on data from a California real estate information provider.

Bank foreclosure has not been avoided by many distressed homeowners in Texas who filed for bankruptcy protection primarily to save their homes from foreclosure.

Foreclosures for sale meant great deals for buyers in the Sun cities of Arizona in December last year as prices dropped from their price levels in 2008, based on data from the Arizona State University W.P. Carey School of Business.

Banks foreclosures in Winston-Salem and in other parts of Forsyth County, North Carolina are being saved by a partnership of private and public leaders in the area.

The number of bank homes for sale in Florida and in Georgia in 2009 was cut down by two major regional banks operating in these two states.