 |
U.S. Real Estate Foreclosures Increase Nationwide
Author: Real Estate Advisor  | Posted: 27-01-2007 | Comments: 0 | Views: 126 | Rating: (53)  (?) 
Foreclosures continue to rise across America. According to the latest annual report of http://Foreclosures.com, the number of foreclosures filed nationwide in 2006 had increased by 51 percent from the previous year, with foreclosure filings nearly topping one million. When compared to 641,000 foreclosure filings made in 2005 nationwide, almost 971,000 foreclosure filings were reported last year.
Among the States, California reported the highest number of foreclosure filings in 2006 with 157,417 foreclosures filed, which is an increase by 94 percent from the year before. California is followed by Florida with 120,989 foreclosure filings. Nevada struggled with the largest percentage increase in foreclosures in 2006 of 175 percent.
The Northeast region reported 96,101 foreclosures in 2006, an increase of 64.6 percent from 58,394 foreclosures filed in 2005. Still, a few states in the region, such as Maryland and Delaware, saw a decrease in foreclosure filings.
Foreclosure filings in the Midwest region of the nation went up beyond 70 percent with many states including Illinois, Michigan, Missouri and Nebraska facing increases of 80 to 96 percent. Industrial layoffs and a tough economy have spurted the number of foreclosure filings in this region, with foreclosure figures in states such as Iowa and Kansas increasing beyond 100 percent.
The Southwest region was the most affected with one out of every 2.2 foreclosures in the country taking place there. The region closed the books for 2006 with an increase of 37 percent from 162,259 foreclosures in 2005 to 220,189 foreclosures. Foreclosure filings in Colorado increased by 55.4 percent, while foreclosures in Texas increased by 35.2 percent. Although the region struggled with the high foreclosure rates, the figures are not all bleak for the region with a few states showing a decrease in foreclosure filings. Louisiana, New Mexico, Oklahoma and Oregon reported fewer foreclosure filings in 2006 when compared to 2005. These states have particularly reported a drop in foreclosure filings in the last quarter of 2006.
Although the foreclosure reports are not very cheerful, Alexis McGee, president of http://Foreclosures.com anticipates the housing market to improve soon. Overextended homeowners, who have been struggling to keep up with heavy debt loads, rising interest rates and property taxes, can soon look forward to some relief as home inventories come down and the market start looking up again. McGee also adds that the current housing market may be the best opportunity for home buyers in the next six years.
Rate this Article:
Current: 0 / 5 stars - 0 vote(s).
Article Source: http://www.articlesbase.com/real-estate-articles/us-real-estate-foreclosures-increase-nationwide-97445.html
|
Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free! |
|
Related Articles
Americans Relocating To Western And Southeastern States
By: Real Estate Advisor | 27/01/2007 | Real Estate
In one of the latest analysis of relocation trends of the people in the United States, it has been found that Americans continue to move towards western and southeast states.
According to migration trend analysis by United Van Lines, America's largest mover, Americans continue to gravitate toward the West and Southeast...
Top 5 Trends In Home Design And Upgrades
By: Real Estate Advisor | 15/12/2006 | Real Estate
Home design trends keep changing from time to time. Trends that were in vogue yesterday are quickly replaced by new ones. If you are interested in updating your home or condo, check out these top 5 latest design trends.
A recent survey, conducted among 923 real estate agents, managing brokers and...
Pricing A Home To Sell Quickly
By: Real Estate Advisor | 30/12/2006 | Real Estate
As the market shifts in some regions to favor homebuyers over home sellers, now more than ever it's important to properly price a home so that it sells in a timely manner. Listed below are some issues that home sellers should consider when pricing their home for sale.
1. An overpriced...
Women Drive Real Estate Purchases
By: Real Estate Advisor | 01/02/2007 | Real Estate
Women are working more, earning more and buying more than they ever did. Consequently, they have a significant influence on the American economy in general, and the real estate industry in particular.
The collective buying power of US women accounts for about 85 % of all consumer purchases. When it comes...
Top Retirement Cities For Seniors
By: Real Estate Advisor | 20/03/2007 | Real Estate
If you fancy moving to a top-notch location to retire, this article is a must-read. In its recent report, Bizjournals.com identified the top cities across the U.S. favored by the senior residents. The website analyzed the cities that had the fastest growing senior populations and came up with the most...
Do You Need A Real Estate Appraiser When Buying A Home Or Condo?
By: Real Estate Advisor | 15/12/2006 | Real Estate
If you are considering purchasing or selling a home, condo or any other type of real estate, you will most likely need the services of a real estate appraiser. An appraiser performs an assessment of properties and other types of real estate to help establish its value. While there are...
What Are Real Estate Short Sales?
By: Real Estate Advisor | 30/12/2006 | Real Estate
In many parts of the country, home prices doubled during the period from 2000 to 2005. During this same time, creative financing programs (e.g. zero down payment, adjustable rate loans, interest only loans, option ARMs loans, negative amortization loans, etc.) gained popularity and helped some people buy homes who would...
Cutting Edge Home
By: Real Estate Advisor | 10/02/2007 | Real Estate
Want to discover 2007's hottest home design trends? Now that the New Year is here, it is time to learn what is hot and what is not in home design and decoration. The shifting nature of home design trends is once more evident this year as revealed by the results...
Latest Real Estate Articles
Motivated Real Estate Seller Negotiation
By: Mark Walters | 21/08/2008
When it comes to being successful at real estate investing the term "motivated seller" is the key to the bank.
When you see the words 'motivated seller' next to a name on your list, it can seem like you've just been given a gift from the gods. Sellers who come...
One of the Suitable Places for Real Estate Investment: Faridabad
By: Matinez | 21/08/2008
Some of the renowned developers from Delhi and its neighboring cities, such as Eldeco Group, Ansals, Omaxe, Parsvnath Developers and so on are reaching Faridabad to start new high end projects that include integrated townships, shopping malls cum multiplexes, residential dwellings, group housing projects, IT parks and modern office spaces.
Jacuzzi Types and Styles
By: Ed Terran | 21/08/2008
You have decided to buy a Jacuzzi for your home. Have you done your homework to see what style you are going to purchase? If not, you may want to learn a few things about these oversized bathtubs before you actually purchase one.
There are bathtub, portable, steam room, hot tub,...
Some Support Talat and Some Do Not
By: Linda Cartwright | 21/08/2008
Efforts to solve the Cyprus issue are being evaluated in different ways in Turkey. While the Turkish Government supports the Turkish Government supports the Turkish Cypriot President Talat's efforts, the main opposition party (CHP) has criticized Talat after a long period.
Orders to the ambassadors from Babacan
Turkey's Minister of foreign Affairs...
Different Types Of Ceramic Tiles For Bathroom, Kitchen.
By: Ed Terran | 21/08/2008
Everyone has gotten into the craze of ceramic tiles lately. This is what they want on their floors, walls, and especially the bathroom area. When it comes to shopping for the type that you want installed, prepare yourself to be overwhelmed. The different types and manufacturers will astound you.
These tiles...
Bathtub Sizes, Types, And Styles
By: Ed Terran | 21/08/2008
Your bathroom can often be one the simple luxuries you enjoy every day at an affordable price. In fact, a well styled bathroom can add value to your house. A well selected bathroom is central to the utility and ambience of your bathroom, so think carefully before you buy one.
When...
New Range of UK Style Mortgages to be Expanded
By: Mark Smalls | 21/08/2008
The range of UK - style mortgages being offered to British and Irish citizens interested in buying property in North Cyprus is set to be expanded.
British company Lewis Finance says the scheme, which is already receiving a lot of interest from expats and people looking to buy holiday homes on...
Chennai's Expanding Real Estate Market
By: George Gonigal | 21/08/2008
Chennai is experiencing an extensive real estate growth in past one year. Chennai real estate developers are having a good business deal happening during this period of time.
More from Real Estate Advisor
Top 5 Yard Upgrades To Increase Home Value?
By: Real Estate Advisor | 05/11/2007 | Real Estate
There are plenty of research on the influence of city trees and open spaces on property values especially in residential settings. With proper landscape improvements, the economic value of a home can be increased immensely. This article focuses on the hedonic valuation of city trees which would not only benefit...
Top 20 Real Estate Foreclosure Markets, Mid-Year 2007
By: Real Estate Advisor | 20/10/2007 | Real Estate
Stockton, California reported the highest foreclosure rate among the nation's 100 largest metro areas from Jan to Jun 2007, according to RealtyTrac, an online marketplace for foreclosure sales. Detroit and Las Vegas documented the next highest foreclosure rates. RealtyTrac's 2007 Midyear Metropolitan Foreclosure Market Report showed the foreclosure activity in...
Are Beachfront Homes For You?
By: Real Estate Advisor | 28/09/2007 | Real Estate
Waterfront homes and seafront homes offer all the charms and attractions of a romantic idyllic living beside blue waters and are perhaps second to none. If you are someone looking to invest on a home with water views, near a beach, a lake or a bay, then it is good...
2007: Home Features That Buyers Want
By: Real Estate Advisor | 25/09/2007 | Real Estate
Extra garage space emerged among the top home feature preferences of home buyers in the latest home buyer preference survey conducted by National Association of Realtors (NAR).
The survey titled "2007 Profile of Buyers' Home Feature Preferences" brings to the forefront the changes that have taken place in home buyers' preferences...
Top 15 U.s. Cities With Likely Home Price Reductions
By: Real Estate Advisor | 20/07/2007 | Real Estate
There has been a shift in the risk of home price reductions in the U.S. towards Florida and California and some areas of the southwest, according to the PMI Mortgage Insurance Co.'s Summer 2007 U.S. Market Risk Index. The index ranks the 50 largest metropolitan statistical areas in the U.S....
Top 15 Cities With High Cost Of Living
By: Real Estate Advisor | 16/07/2007 | Real Estate
Moscow, the Russian capital, is the most expensive city in the world for cost of living followed by London, UK and Seoul, South Korea in the second and third position. The findings are based on the annual Cost of Living Survey conducted by Mercer Human Resource Consulting. Moscow tops the...
Want To Live A Long Life? Top 10 States For Longevity!
By: Real Estate Advisor | 12/07/2007 | Health
Top 10 and Bottom 10 U.S. States Where People Live the Longest
If you are looking to live to a ripe old age, then check out these top U.S. states where people are not only living longer but also better. Eons Inc. in its 2007 State of Longevity Report lists the...
Which U.S. Cities Are Most Green?
By: Real Estate Advisor | 09/07/2007 | Real Estate
The buzzword that is going around these days is 'green' - green homes, green building, green living etc. Here is the latest addition to the green world - the top 25 greenest cities in the U.S. These are cities that are more energy efficient and offer a living environment that...
|
|
Finance 
