Foreclosure Activity is Increasing

Lately it seems Hampton Roads investors have had tough luck finding suitable foreclosures at reasonable prices.

I was intrigued to read the following blurp from the December 2014 issue of RISMedia Real Estate Magazine:

According to Realty Trac’s October U.S. Foreclosure Market Report, a total of 59,869 U.S. properties were scheduled for foreclosure action during the month of October, up 24 percent from the previous month and up 7 percent from a year ago to the highest level since May 2013.  Scheduled foreclosure actions in judicial foreclosure states, where foreclosures are processed through the court system, increased 21 percent from the previous month and were up 3 percent from a year ago.  Scheduled foreclosure auctions in non-judicial states increased 27 percent from the previous month and were up 14 percent from a year ago.

Sounds like 2015 will be bringing belated holiday gifts for our local investors!

Hampton Roads Real-e-statement is written by Alyssa Godwin, a Realtor with Liz Moore and Associates. For questions regarding buying or selling contact Alyssa at 757-329-6161 or alyssagodwin@lizmoore.com. You can also find Alyssa on Facebook or on the web at www.lizmoore.com/alyssagodwin.