High foreclosure rates are not necessarily a bad statistic especially if your in the market to buy a house. All economic bubbles burst and eventually rebound. In real estate location and timing are everything. If you are in the market to buy a house or business property read on to discover how foreclosure rates can influence your decision to buy or wait to invest in property ownership.
Key Takeaways:
- While foreclosure rates at the national level are seeing better figures, some areas do not seem to be going along this trend. Indeed, some are even moving in the opposite direction and are actually rising up.
- According to recent statistics, the city of Stockton, Calif., reported the highest foreclosure rates of any city in the United States.
- This figure is up from 20 percent from the previous month of October and nine percent from Nov. 2010.
“Banks from around the country seem to follow the ones from Stockton. They are moving foreclosed homes back into the market through auctions at such large numbers.”
Source: http://www.realestateproarticles.com/Art/45233/265/The-Highest-Foreclosure-Rates-in-the-U-S.html
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