The Gate Arty Blog - October 2009 Archive

High-Water Mark for Foreclosures

Friday, October 16, 2009 - By Gate Arty

Foreclosures are at an ALL-TIME HIGH. In the 3rd quarter of this year 937,84 homes received a foreclosure letter. How do you put this in perspective? Well, that means that 1 in every 136 homes were in foreclosure. That’s a 5% increase from the 2nd quarter. It’s also a whopping 24% leap from this point in 2008! These numbers represent the worst 3 month stretch in terms of foreclosures ever. The foreclosure toll this year is reported to be 623,852 & climbing. Perhaps with these numbers on the rise, banks will begin being more cooperative with short-sales? Wouldn't that be rational? Either way, the real estate investors will be back in full-force to pick up REO properties & pre-foreclosures that are indeed priced to sell. Check out investing opportunities at MidFloridaREO.com.

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High-End Mortgage Foreclosures

Tuesday, October 13, 2009 - By Gate Arty

Recent statistics have shown that the trend of foreclosures is now hitting the top-tier of mortgages. In June 30% of foreclosures involved homes that were in the top 1/3 of local residential values. When the foreclosure crisis began 3 years ago, this figure was around 16%.  On the opposite end of the spectrum, the bottom 1/3 of the residential market only accounts for 35% of foreclosures now. This figure is way down from 55% in 2006.

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