US Foreclosures a Mixed Blessing in Q2
As the most recently collected data reported today in RealtyTrac's Q2 2006 U.S. Foreclosure Market Report suggests, there is both an upside and a downside to the latest numbers.
On the positive side, foreclosure activity nationwide during Q2 2006 rose 25 percent over the same quarter last year to 272,109 properties . This is good news for real estate investors, agents and home buyers looking for a piece of the American Dream at a potentially more affordable price.
On the flip side, however, foreclosure activity nationwide decreased 16 percent between the first and second quarters of the year, meaning there are less properties to invest in, thus making the search for properties that will pencil out as a "good deal" even harder to find.
With the highest foreclosure rates in the nation, Colorado, Georgia and Texas continue to be the most likely places to begin searching for potential foreclosure properties. Meanwhile, the number of properties entering some stage of foreclosure in California and Florida continued to decline during the quarter (7 percent and 13 percent respectively).