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15:44:00 Today Bank Foreclosures Sale Reports Fewer Foreclosures in January


Bank Foreclosures Sale Reports Fewer Foreclosures in January

MIAMI, March 1, 2010 /PRNewswire via COMTEX/ -- New statistics from Bank
Foreclosures Sale, a leading online provider of foreclosure listings and
information, reveal that foreclosure rates in states across the nation were down
significantly during January. Nationally, the number of foreclosures for sale
fell by 10% from December to January, with a total of 315,710 foreclosure homes
reported. While these figures do indicate that the new year seems to be getting
off on the right foot for buyers and investors, experts point to the fact that
this month's total may be down, but is still 15% higher than it was in January of
2009.

However, there are plenty of positive signs out there, especially when you narrow
in on the statistics for regional markets. For example, the top 6 states for
foreclosure rates, Nevada, Arizona, California, Florida, Texas and Illinois,
accounted for 60% of the national foreclosure property total. However, these
states are not seeing anywhere near the foreclosure growth rates that they have
previously. Texas and California saw their foreclosures drop by roughly 11%,
while Florida experienced a 14.9% decrease in foreclosure homes.

Similarly, Phoenix, AZ was the only metropolitan area in the Top 10 for
foreclosures to see an increase in January, and it was only a 4% gain. Other
cities, such as Orlando, FL; San Bernardino, CA; and Cape Coral, FL all saw
significant decreases.

"These are some of the biggest foreclosure inventories in the nation, so this
should be a signal to buyers," remarked Simon Campbell, a Business Analyst for
Bank Foreclosures Sale. "Less foreclosures means climbing home values, and with
sale prices for foreclosed homes already looking up in many areas, this could be
the beginning of a great year for buyers."

Other areas with notable decreases in foreclosure homes during January were New
Jersey, down 39.3%; North Carolina, which fell 11.3%; Ohio, down 5.5%; and
Alabama, where foreclosures dropped by 28.4%.

Some states did see hikes in foreclosures during January, but interestingly these
are not areas usually associated with high foreclosures. Experts believe that
Nebraska, up 68.4%; Oregon, increasing by 13.5%; and Delaware, rising 78.9%,
could be experiencing the effects of unemployment and the economic recession
rather than the flooded market and inflated mortgages driving high foreclosures
in the Sun Belt states.

To stay informed about the latest foreclosure news and information or to search
foreclosure listings in your area, visit BankForeclosuresSale.com.

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This release was issued on behalf of the above organization by Send2Press(R), a
unit of Neotrope(R). http://www.Send2Press.com

SOURCE Bank Foreclosures Sale

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