The home foreclosure market is still going strong making up a good portion of the US home sales market. Foreclosed properties have risen again in number and foreclosure notices jumped up 18% above July’s levels for those receiving first time notices of foreclosure. Total foreclosure filings, including default notices, scheduled auctions and repossessions were sent to 228,098 homes, rose 7% from July’s totals. Nevada, California, Florida, Ohio, Michigan, and Arizona have the highest foreclosure rates and levels of foreclosed properties.
The US government now owns almost 250,000 repossessed homes and is desperately trying to find a way to unload them. That volume spells a bargain for home hunters. If you’re a realtor, you may be wise to try and cash in on the foreclosure market since a good volume of home buyers are searching the foreclosure market for a bargain. The foreclosure market is a pain for you however you can reach foreclosure buyers online. Its just another avenue to generate leads.
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