Archives for April 2008

Some Quick Foreclosure Statistics

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Here are some quick foreclosure stats I came across recently:

  • Every three months, 250,000 new families go into foreclosure.
  • Foreclosure filings were reported on 234,685 properties nationwide during March, a 57% increase from March 2007.
  • One in every 538 U.S. households received a foreclosure filing during March.
  • One out of every 200 homes will be foreclosed upon. For a city like Washington, that translates to 3,000 Washingtonians losing their homes to foreclosure each year.
  • One child in every classroom in America is at risk of losing his/her home because their parents are unable to pay their mortgage.
  • More than 6 in 10 homeowners delinquent in their mortgage payments are not aware of services that mortgage lenders can offer to individuals having trouble with their mortgage.
  • Foreclosure filings were reported on 64,711 California properties in March, the most of any state for the 15th consecutive month.
  • California foreclosure activity increased nearly 21 percent from the previous month and almost 106 percent from March 2007.
  • One in every 204 California households received a foreclosure filing in March – 2.6 times the national average.
  • According to Realtytrac.com, a source for foreclosure listings:
    • There are currently 2,934,626 US foreclosure listings.
    • The top 5 foreclosure States are:
      • California leading with 303,777 listings.
      • Florida – 191,706 foreclosure listings.
      • Ohio – 105,880 foreclosure listings.
      • Texas – 79,683 foreclosure listings.
      • Georgia – 52,210 foreclosure listings.

Investing In Real Estate In A Recession

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Investing in Real Estate In A RecessionIt can be scary to invest in anything during a recession. We all carry visions of the great depression and bread lines and people selling apples. The idea of putting your money into anything other than your mattress can be frightening for some. However, real estate should never be looked upon as an ordinary investment.

Real estate is one of the few investments that we actually use and need. Everyone needs a place to live and call home. And real estate has systematically and quantifiably proven to have risen in value over the decades. [Read more…]

Money Tight, But Good Time to Buy

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With falling prices and rising inventories, investors are finding themselves in the best buying position in almost a decade.

A recent polls by Reuters/Zogby tells us that it’s a good time to buy. And another poll by Associated Press and AOL also reveals that it’s a good time to buy but 60% of those polled won't buy any real estate within the next two years.

The disparity is probably due to economic fears which are causing consumers to tighten their purse strings. The Reuters/Zogby poll said that nearly 75% of American’s believe the economy is in a recession right now, and almost 50% rated their personal financial situation as negative.

The AP/AOL poll said that nearly 14% of mortgage holders fear they will miss a mortgage payment soon. And 30% said they are concerned their home’s value will decrease within the next two years.

The important thing to remember is that you should stay focused on your local neighborhood and those of your real estate investments. Remember that real estate is primarily driven by local economic factors such as jobs, housing inventory, and supply and demand.

3 Things Every Real Estate Investor Should Know

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3 Things Every Real Estate Investor Should KnowReal estate investment isn't like any other kind of investment. Yes, at the core of all investments there's money and risk involved. But the major difference is that in real estate investing, you are responsible for the work required to make a return on your investment.

If you want to be successful in real estate investing, there are some key pieces of information you need to know. This information holds true no matter what area of investing you get involved with. [Read more…]

America's Worst-Selling Housing Markets

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America's Worst-Selling Housing MarketsForbes recently released their list of the ten worst selling housing markets with very few surprises.  Topping the list was Miami, Florida where the glut of inventory continues to linger.

Of the 40 largest metropolitan markets analysed, not one market showed any sign of price appreciation.  With slow sales and dropping prices the aggressive investor may be able to pick off some very good deals in these markets.  Research, patience and a sharpened sense for value can land you a great real estate investment.

Here are the ten worst markets according for Forbes: [Read more…]