Border Lines

According to research released today by ForeclosureListings.com, during the last two years, the housing market has been suffering due to increasing numbers of foreclosure properties flooding the real estate market.

While this has been bad for homeowners who are losing their, investors have benefited greatly from this trend. Housing values have gone down dramatically making many affordable for investors who can convert them into profitable rental properties and other investments. Recent statistics, however, suggest investors interested in taking advantage of this option may need to act fast. The housing market may be improving.

ForeclosureListings.com compiles and tracks data about foreclosures throughout the United States. According to their results, many cities and states have seen a decrease in the number of foreclosures between April and May 2009. These cities include Las Vegas (8.33%), Phoenix (2.28%), Atlanta (2.03%), Detroit (1.02%), Miami (6.10%), and Denver (7.56%). California, Georgia, Texas, Nevada, and Colorado have all seen their statewide numbers of foreclosures decrease by 5% or less. While that may not seem significant, most of these states have seen gains in foreclosures every month for at least a year.

Despite the positive results listed above, ForeclosureListings.com also noticed some hot spot cities on the horizon for potential investors. These are cities that have seen tremendous jumps in the number of reported foreclosures. According to ForeclosureListings.com:
– Chicago increased by nearly 13%
– Minneapolis increased by almost 10%
– North Las Vegas saw an increase of over 6%
– Memphis jumped by over 31%.

Both Illinois and Nevada saw statewide increases: 6.62% and 4.65%, respectively. Florida, Ohio, and Michigan all saw increases statewide of around 1%. While these state increases may seem small, these states have already seen large numbers of property foreclosures and the situation does not seem to be drawing to a close if these most recent figures are any indication.

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