The foreclosures listings for 2009 reveal a picture other than what most people would want to see. The foreclosure crisis seems to be taking to new heights as unemployment rises and the economy continues to weaken further. The recent stimulus and bail out plans pumped into the economy have not been successful in helping the economy to recover as foreclosures for the year cross the 800,000 mark.
When it comes to listings we find the big four states are still at the top with intense foreclosure activity going on. California tops the list with over 80,000 foreclosures in the first quarter of 2009. Florida is next with almost half this number followed up by Nevada at 15000 and Arizona at 18000. These are the big four states where foreclosure activity seems to be peaking.
Since the above mentioned states are industrial strongholds they will always be a good place to invest in. Even if economic activity is slow it is bound to pick up sooner or later which would lead to a massive increase in the value of the property which can be picked up for big discounts at the moment. Add to that the fact that the big four states are tourist hot spots as well so from an investment point of view they hold immense value and investors should take advantage of the current housing market low.
The foreclosures listings show Idaho to have considerably lesser amount of foreclosure homes for sale. However if you are looking for residential real estate this is one place truly worth looking. Illinois, Michigan and Georgia in comparison have been relatively harder hit by the crisis. However these states are currently facing a major unemployment crisis making it risky to invest in the region. The same goes for Ohio. Oregon on the other hand has been less severely hit with about 3000 foreclosures up for sale. Foreclosure activity has actually decreased in this region. Illinois is the only other state in the top ten list that has experienced a decrease in foreclosure activity in the first half of 2009 finding its way in many foreclosure listings.
What are they?
These are listings of foreclosures around the country or a specific region, available through online as well as real resources. They are called so, because these listings are provided absolutely free without any charge. In fact when you use these foreclosure listings, you can save a lot of money.
How to find them?
?Search online: you can do an online search for foreclosure listings available for free. There are many websites, which offer these listings without any charge. Even if you want to search for a particular state or city, there are listings available for it. With a little effort you will find many of these listings.
?Call the local lenders: Local lenders like banks can provide you with these listings for absolutely free. A simple call to these lenders will give you lots of listings. The banks will happily give you the information, as they have plenty of it and they want to unload it. These listings however will be limited to a particular area
?Ask the sheriff department: the local sheriff department keeps a foreclosure listing that it provides for free. In most states, the department organizes a Sheriff's auction for foreclosures. Hence these listings are very accurate and have lots of options.
?Check the local or state government website: since the local or the state government also forecloses homes when the owners do not pay tax, they also maintain the free foreclosures listings. The listings are easily available on their website.
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