Foreclosures aren't nearly as bad as you'd think

A lot of people have been talking about Foreclosures in this soft market and with the national foreclosure rate up more than 78 percent in the last year; you can see why they're talking.

But what most people don't know is that the problem is REGIONAL and not affecting the OVERALL market. In fact the stats show that over 98 percent of homes in the real estate market were NOT affected. In fact, the exact amount was a mere 1.033 percent of homes that were dealing with foreclosures.

"Okay Anita, but how do I, the consumer, make sense out of ALL the foreclosure news I hear?"

Well I will break it down right here, right now.

First of all, foreclosure rates actually FELL, meaning fewer foreclosures, in 14% of the top hundred areas.

Second, the stats are never presented in context. 

And third, only 70 percent of homes are even in the running for foreclosure since the other thirty percent are owned outright (free and clear) from the bank. 

To be sure about foreclosures in your area contact a trusted Real Estate Agent or Broker, and they will be able to let you know how foreclosures are truly affecting your area.