May 02, 2011

Foreclosure Activity

The foreclosure activity has declined in the first quarter of 2011. According to the latest figures by RealtyTrac default notices, scheduled auctions and bank repossessions were down 15% from the 4^th quarter of 2010. The latest statistics show that the first quarter of 2011 foreclosure activity was down 27% from the first quarter of 2010. However, there were still foreclosure activity on 681,153 properties in the United States in the first quarter of 2011. This accounts for one in every 191 US homes. Nevada continued to have the highest foreclosure rate in the country, with one in every 35 housing units receiving a foreclosure filing in the first quarter of 2011. The second highest foreclosure state in first quarter 2011 was Arizona followed by California.

Here in Central Indiana we have been hit with foreclosures like the rest of the country. However, we do not have the problem as bad as many other states. The same is true about declining prices. Indiana has always been more of a constant steady growth over the long term. Most of the “harder hit states” saw a great appreciation prior to the collapse of the market.

Are you interested in what your house is worth in this market? How about what you would be able to afford? For any real estate questions related to the local great Indianapolis area give me a call/text at 317-413-5311 or email me at .

Posted by: Jeremy Page