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Foreclosures Have Increased More Than 67% In The United States

(EMAILWIRE.COM, December 11, 2007 ) St. Augustine, FL—For some in the real estate industry, cities earning high ratings on national analysts Housing Cycle Barometers is a clear indication of a growing housing bubble.

Of the most populous U.S. metropolitan 84% are priced beyond their local market. In the northwestern part of the United States, many states are experiencing mortgage rates affordability levels 18% or higher than the early 1980’s. Regions with historical affordability levels are below or equal to their markets are in the single digits. Home builder positioned in current and projected sales has suffered a lack of confidence in response to well warranted sensitive and increasing consumer concerns. The tangible uncertainty for the market of new single family homes is telling according to industry data from the August 2007 Wells Fargo/NAHB Housing Market Index. Two major factors that are affecting professional home builder’s perception of the current market: rising sales cancellations and substantial growth in inventories of both new and existing homes. Analysis is confirmed by government statistics February, 2007 was the seventh consecutive month in which builder confidence, as measured by the CPI index has fallen. The NAHB/Wells Fargo HMI gauges builder perceptions of current single family homes and sales expectations for the next six months and then calculates a seasonally adjusted index where any number over 50 indicates that more builders view sales conditions as good than poor. The West saw a 10 point decline to 42. Around the nation, foreclosures have increased more than 67 %. Non professionals have claimed that the use of less than creative mortgage products proved financially fatal to some homeowners particularly in California. Defaults also rose in the recently attractive markets of Las Vegas and Phoenix where more than 25% of new home sales were going to out of state investors who had no intention of ever occupying the homes they purchased. Foreclosure activity had placed Denver Colorado into the top metropolitan areas with the nation’s highest foreclosure rates. In real numbers as recent as August, more than 11,000 properties were placed in Colorado. The reality is that there are solutions that will profit the home owner facing foreclosure and distress property situations. With a clear understanding of the simple pre-foreclosure rules, a well schooled investor can profit as well aid the homeowner in distress. That’s why it pays to understand fundamental pre-foreclosure profit opportunities.

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Contact Information:
Paramount Promotions LLC (The Countries Leading Short Sale Trainer)

Mary Geronimo
303-B Anastasia Blvd. #148
St. Augustine, FL 32080
Email Address:

Paramount Promotions LLC
Mary Geronimo

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