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More Foreclosures in 2006?

August 7, 2006


A recent article in the Sarasota Herald Tribune stated that there were 272,109 real estate properties in foreclosure during the second quarter of 2006. That number constitutes an increase of 25 percent over that of the second quarter of 2005. Although Florida actually posted foreclosures rates among 9 other states that made up the top 10, it’s rate of foreclosures were actually down by 16 percent from the previous year. One factor contributing to foreclosure rates nation wide are the prevalence of high-risk adjustable financing among investor owned properties. As the market continues to evolve there are certain to be opportunities for investment in foreclosed properties. If you are interested in taking advantage of such opportunities contact me at perrycorneau@remax.net.

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