MIAMI, Fla. — ForeclosureDeals.com, a leading online foreclosure listings service announces that real estate executives say the regions that saw the biggest price spikes during the bubble continue to wrestle with the most foreclosures: California, Florida, Nevada and Arizona. According to ForeclosureDeals, in the month of May, alone, California reported 92,249 properties with foreclosure filings – the highest total of any state.
In Florida, while scheduled auctions and bank repossessions were down from the previous month, the state still posted the nation’s second highest number of properties with foreclosure filings: 58,931.
Nevada documented 17,157 properties with foreclosure filings, pushing its foreclosure activity up five percent from the previous month.
Other states with totals among the 10 highest in the country were: Arizona, (16,865); Michigan (13,891); Ohio (11,360); Illinois (10,942); Georgia (10,516); Texas (9,813); and Virginia (5,385). The top 10 states account for nearly 77 percent of foreclosure filings, nationwide.
“In looking to the future, there is still too much uncertainty in the overall economy that will, without a doubt, only create more foreclosures,” Matt Bradley, lead analyst for ForeclosureDeals.com, says.
In addition, while some ARM’s have reset, according to a recent Bloomberg report where they sourced First American CoreLogic, approximately one million option adjustable-rate mortgages are estimated to reset higher in the next four years.
So, how does ForeclosureDeals.com fit in? This online foreclosure listings’ service promises to provide support, resources and guidance to people who are seeking to purchase residential properties at rock-bottom prices.
“While there are buyers in the market, they still lack the confidence,” Bradley, adds. “Our team of well-trained real estate experts helps to restore confidence through education and financial savvy.”
ForeclosureDeals works closely with financial institutions, court houses, government agencies and brokers. Clients can rest assured that ForeclosureDeals has done its homework; all listings are accurate and up-to-date.
Some benefits of using ForeclosureDeals.com include: daily updates, exclusive search filters, satellite photos, neighborhood profiles, a free foreclosure e-book, educational resources and more.
Founded in 1998, ForeclosureDeals.com provides services in all 50 states. Its foreclosure listings databank has more than 1.5 million property listings and its 65 employees are at the ready to serve 24 hours per day, seven days per week.