Facts And Figures On Foreclosed Home Listings In California

In 2010, more than 2.8 million American homes were subjected to foreclosure

, an increase of 123 percent from 2007, especially in the states of California, Nevada, and Arizona. The data was taken from a booklet discussing issues about the housing crisis, produced in April 2011, by Senator Dianne Feinstein.

According to another source, DQ News, a San Diego-based DataQuick Real Estate News and Custom Data center, an estimated 37,481 new and resale houses and condos sold statewide in November 2012 were down 4.5 percent from 39,254 in October, and up 14.7 percent from 32,669 sales in November 2011.

Furthermore, DQ News also revealed that 16.6 percent of the properties sold in November 2012, which had been foreclosed over the previous year, were 17.1 percent below the sales of the preceding month and 32.9 percent down from a year earlier. The same report also stated that the November 2012 figure was the lowest in any months foreclosure resale and made up only 16.0 percent of the resale market in October 2007. The pronouncement on the data is affected by the financial instability in the country.

Meanwhile, despite the adverse aftermath of the great economic downturn and financial volatility, this then is the best time to purchase real estate properties, specifically properties that are contained in foreclosed home listings. Such properties can either be bought for investment or homeownership purposes. For those who have the financial capacity, this is a great time to focus and invest on real estate.

While purchasing a foreclosed property offers a tempting venture, there are still other things that would-be buyers need to do and consider in continuing with their decision. Before making any purchase, try to do the following:

Know what is being bought

Conduct a title research

Secure an insurance

Find and choose the best online real estate listings service

Fortunately, there are websites that provide foreclosed home listings containing information that are useful not only to buyers, but also to venture capitalists. The sites offer extensive, accurate, and reliable information and tips.

Presently, there are about 23,800 foreclosed properties that are listed for resale in California according to ForeclosureMagic.com, a membership service that assists users to find, locate, and invest in foreclosed and other distressed real estates. More so, ForeclosureMagic.com suggests free listings on countless affordable real estate owned properties.

To get free and up-to-date data and ensure the best deal possible, visit http://www.foreclosuremagic.com/ and create your account now!

by: Greg Andrews

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