Even though cities in the “big four” foreclosure states of California, Nevada, Arizona and Florida account for 19 of the leading 20 metropolitan areas for foreclosure rates, foreclosure is a wide-spread issue that is getting worse throughout the country. In fact, Realtytrac has discovered that foreclosure filings are up in 65% of the major U.S. metropolitan areas in the third quarter.
Cities that recorded the biggest increases in foreclosure filings were Seattle, Houston and Chicago. Of the 206 major metro areas reported 133 had year over year increases in foreclosure filings. Eleven of the top 20 markets saw foreclosure increases.
This means there is expanding opportunity for short sale specialists throughout the country. People who may have started advertising in areas further from their home base in order to take advantage of large numbers of foreclosures can now feel more comfortable farming in their own back yard because foreclosures are everywhere in increasing numbers.
Still, the biggest problem remains in some of the... Click here to read the rest of this article about real estate investing and buying and selling foreclosures
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