Unless you've been sleeping under a rock, you know that foreclosures are at their all time high since the turn of the century. If you live in one of the top 10 foreclosure states (as I do), there is a chance you might be able to find a great deal on a house to live in or an investment property. According to an Associate Press article today, here are the top 10 states for foreclosures:
1. Nevada
2. California
3. Florida
4. Arizona (my home state)
5. Colorado
6. Massachusetts
7. Georgia
8. Connecticut
9. Ohio
10. Michigan
Here are two takeaways from this list:
1. If you are looking to buy or invest and live in once of these states - now is a good time to make your move. The market will definitely come back, and those who are able to take advantage now will do well.
2. If you are looking to move, you may want to consider one of these places if you want to start over a pick up a good deal on a home, which will likely be your largest investment.
A great resource for finding foreclosures is http://www.freeforeclosurelistingsonline.com/.
Stay tuned for my next posting on the mechanics of how to buy foreclosures. You can subscribe to the blog by using the form in the upper right column and entering your email address. You will receive my next blog post in your email.
Until next time,
Anthony
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