The great depression of the 21st century continues to plague the United States as foreclosures sale soars in 2009. The first quarter revealed itself to be far more intense as compared to the previous quarter with 803,489 properties filing for foreclosures. This is a 9% increase from the last quarter and when compared to this time last year we find a staggering 27% increase in foreclosure activity.
Statistics show that one in every one fifty nine homes are being filed for foreclosure in the United States. The fact that so many foreclosure properties are up for sale in the market is by itself further straining the economy. However, in the capital market its every man for himself and one mans loss becomes another mans gain.
So where should you be investing if you want to take advantage of the foreclosures sale at bay? The answer to this depends on what your intentions are. Furthermore location is not the only thing that you have to determine when looking for a profitable foreclosure deal. You also have to decide which kind of property would benefit you most from amongst pre-foreclosed homes, foreclosure homes and bank owned REOs.
Recent trends have shown an increase in demand for bank owned REOs because they seem to be offering the biggest savings. At the same time the number of bank owned REOs in the market has experienced a dramatic increase. Each month seems to be scoring a higher rate of foreclosure activity than the previous and recovery seems to be nowhere in sight.
When it comes to making a profitable investment your decision rests on your purpose. Although California, Nevada and Arizona have the highest foreclosure activity they may not be the best place to invest in if you are looking for a place to live. If you are looking to take advantage of the foreclosures sale and buy a home for residential purposes then you would want to look into other regions where activity is low. For example South Dakota and Nebraska have some of the cheapest properties to offer. Similarly Kentucky and West Virginia have big savings to offer to the masses.
Statistics show that one in every one fifty nine homes are being filed for foreclosure in the United States. The fact that so many foreclosure properties are up for sale in the market is by itself further straining the economy. However, in the capital market its every man for himself and one mans loss becomes another mans gain.
So where should you be investing if you want to take advantage of the foreclosures sale at bay? The answer to this depends on what your intentions are. Furthermore location is not the only thing that you have to determine when looking for a profitable foreclosure deal. You also have to decide which kind of property would benefit you most from amongst pre-foreclosed homes, foreclosure homes and bank owned REOs.
Recent trends have shown an increase in demand for bank owned REOs because they seem to be offering the biggest savings. At the same time the number of bank owned REOs in the market has experienced a dramatic increase. Each month seems to be scoring a higher rate of foreclosure activity than the previous and recovery seems to be nowhere in sight.
When it comes to making a profitable investment your decision rests on your purpose. Although California, Nevada and Arizona have the highest foreclosure activity they may not be the best place to invest in if you are looking for a place to live. If you are looking to take advantage of the foreclosures sale and buy a home for residential purposes then you would want to look into other regions where activity is low. For example South Dakota and Nebraska have some of the cheapest properties to offer. Similarly Kentucky and West Virginia have big savings to offer to the masses.
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