× Home

Top Authors Top Articles Why Submit Articles? FAQ

Login Register Forgot password?

2006: Most Active Real Estate Foreclosure Markets

By:   |   Jul 08, 2018   |   Views: 7   |   Comments: 0

The foreclosure market is an attractive option for buyers wanting to invest in real estate. A foreclosed property is a mortgaged property that has been taken over by the lender due to non-payment of the mortgage. The lender then sells the property in order to recover the money, often at below market prices. Foreclosed homes, condos and other properties can for make excellent investments and is a popular choice for those entering the real estate market.

The October 2006 issue of Business 2.0 Magazine ranks the top 10 foreclosure markets in the United States. Greeley in Colorado tops the list followed by Detroit in Michigan, Miami in Florida, Indianapolis in Indiana, Ft. Lauderdale in Florida, Denver in Colorado, Dayton in Ohio, Dallas and Fort Worth in Texas, and Atlanta in Georgia.

Greeley, CO, has the largest number of foreclosure households in the country, with 0.59% of homes falling in the category, an increase by 14.7% since January 2006. The report holds aggressive residential development, risky underwriting practices and stagnant wages as the main causes.

Detroit, MI, stands next with 0.51% of the households in foreclosure. The badly performing auto industry and the resulting impact to autoworkers' incomes has contributed to number of homes in foreclosure in this city.

Third on the list is Miami, FL, where 0.37% of the households are in foreclosure, a staggering 91% increase since January 2006. The report states a weakening economy, higher property insurance premiums, and rising energy and interest rates, as the reasons for this rapid increase.

The fourth among the top ten foreclosure markets is Indianapolis, IN. Although the foreclosure rates are slightly lower from last year, still the portion of households in foreclosure stands at 0.35%. Setbacks and layoffs in the city's auto industry together with falling home prices have contributed to foreclosure rates in this city.

Fort Lauderdale, FL, stands fifth with 0.34% of households entering foreclosure, which is up by a whopping 118.5% since January 2006.

Denver (with 0.33% of households in foreclosure), Dayton (with 0.33% of households in foreclosure), Dallas (with 0.31% of households in foreclosures), Fort Worth (with 0.31% of households in foreclosure) and Atlanta (with 0.31% of households in foreclosures) round out the top 10 foreclosure markets.

If you are looking to invest in the foreclosure market, consult a real estate agent who can help you clinch the best deal on the foreclosure property of your choice.

Was this helpful?
Thank you!

More from Ernest Taylor

The Benefits of Midlife

In our youth-obsessed culture, a lot is written about the danger and negative ef...

By: Ernest Taylorl Uncategorizedl Jul 08, 2018 lViews: 38 lComments: 0

Sytropin - Best HGH Spray Wonderful Health Benefits

With the outstanding health benefits human growth hormones can provide to the bo...

By: Ernest Taylorl Uncategorizedl Jul 08, 2018 lViews: 43 lComments: 0

Surgical Skin Tightening May Be A Risky Proposition

Surgical skin tightening procedures include the rhytidectomy or face lift, the b...

By: Ernest Taylorl Uncategorizedl Jul 08, 2018 lViews: 36 lComments: 0
Add new Comment

* Required fields