Foreclosures on the rise

Posted by: Dean Foust on August 26, 2005

A story on Inman News reports that, according to RealtyTrac, foreclosures grew for the second straight month in July, and have now jumped more than 12% in the last two months. That now works out to one foreclosure for every 1,465 households. An interesting comment from the CEO of RealtyTrac: “If the trend from the last two months continues, foreclosures may gather enough momentum to significantly impact the real estate market,” said James J. Saccacio, RealtyTrac chief executive officer. “The numbers for the next few months will let us know if that’s the case.”

Reader Comments

Marc W. Farber

September 16, 2005 10:33 AM

I would like to help people STAY in there homes if possible rather than try to buy there homes at a deep discount. If there is any interest in this concept of keeping people in there homes please email me at: farbermarc@aol.com or call 415-884-2230. Thank You.
To Success,
Marc

Tom

September 26, 2005 4:04 PM

Marc,

How do you plan on keeping people in their houses instead of buying at a deep discount?

The reality is that we Americans are so over leveraged in debt and the likelihood of a wave of foreclosures increases with every interest rate hike from the Fed.

doesitmatter

November 12, 2005 10:24 PM

Can someone tell me where a good place to find foreclosure listings is? I have some money to invest.

Miriam

March 28, 2006 11:27 AM

I have been looking to purchase pre-foreclosures but I do not want to pay for the fees that most dot com charge for monthly listings how can I find a free reliable source of delinquent accounts in NY and NJ ?


Much appreciated.


M

vincent

May 24, 2006 7:40 AM

I am living in N.Providence Rhode Island and the houses here are through the roof. Foreclosures here in Rhode Island is at a all time high. Could you tell me where in the US Real state is Affordable, and good deals. Thank you. vincent
vincent

lizziebeth

May 25, 2006 9:56 AM

Homes in the southeast are still affordable! Charlotte, Nc is a growing town of Northeasterners. Everyone from mailmen dentists, pharmacists,teachers, business men..... are selling their houses in the northeast for a killing, getting a much nicer home for half the price, paying cash and enjoying the good life. Atlanta, Raleigh, and other southeastern cities are still affordable as well. You can get a nice 4 bedroom 3000 sq foot house for $300k to a custom all the bells and whistles for $650k....... Better climate, close to beaches and mountains, better lifestyle.......

Cheryl

June 14, 2007 12:01 PM

Please tell me, how do I purchase a foreclosure. My husband and I are on a fixed income, about 1,700 a month, we just would love a little two bedroom home with a little land to grow my tomatoe plants and tropicals. I would love to live out my golden years in Florida. I am very open to different areas. I have lived in the Florida Keys, St. Petersburg, New Smyrna Beach. I have a 42 foot fifth wheel, I could park in the country and start to build. I am having no luck finding a piece of land that won't cost me an arm and a leg. I miss Florida terribly. Please tell me how I can go back home!!
Cheryl

Don

August 27, 2007 9:31 PM

What is going on in the US is only inevitable , no one twisted anyones wrist to buy and overpriced home,they did it themselves and added to the housing shortage.From what i here whatever is supposed to happen is not even here yet.Its really supposed to hit in the middle of 2008.For those that are serious about buying a home and not following the jones i would wait till the year 2010.Their will be plenty of places for sale with many more options.

peace

PS. but for now i would hold on to what you have at least its a place to stay till this is over.

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About

BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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