By Joseph Smith
 Indiana is the top 14th US state in terms of high volume of foreclosed homes as of October 2008, based on data released by RealtyTrac. The number has been rising for quite some time or since the housing industry slump started in 2007. It is not surprising that the volume of Indiana foreclosure homes has been on the upward trend. Not unique to the state, foreclosed home transactions are directly influenced by the rising number of unemployment.
When it comes to employment, the state still is not hitting the negative side. But it is quite apparent that many people are losing jobs, especially these days when there is an economic slowdown in the US. Particularly, Indiana is affected by the weakening of General Motors, the large US car manufacturer. In record, the company has been the state's biggest employer. There were up to 40,000 employees under the payroll of GM in the state before the economic crisis. As of October 2008, GM only employs just about 5,600 workers, mostly in Fort Wayne, Bedford, Marion and Indianapolis. Now that GM is facing risks and |
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By Kyle Edginton
 You might be rightly afraid to deal in real estate in the present scenario since you would not know whether the price of the property that you have just purchased might fall even further before you have a chance to flip it. In this case you should consider short sale real estate investing.
Essentially, a short sale means that you buy a house whose owner is unable to make mortgage payments and is on the verge of losing his home, while at the same time convincing his bank to accept a payment, which is less than the mortgage amount. This move could work since the homeowner can now be free of making future mortgage payments on the house, which he is not in a position to do anyway. The bank would rather dispose off the property than repossess it and put it up for auction through foreclosure, which could be a time-consuming and costly process.
Once you have identified the property that you like, then the next thing to do is to meet the owner. You will need to be sensitive |
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By Joseph Smith
 The volume of houses included in New Jersey foreclosure listings seemed to defy gravity in October. That is because the number shrank despite a drastic 75% jump in total number of foreclosures. Analysts believe the current measures implemented by the state government to help homeowners keep their homes are starting to work.
The number of foreclosure filings in New Jersey in October rose to a record 8,473 homes, most of them in the counties of Bergen, Essex and Salem, according to data compiled by real estate tracker RealtyTrac. However, not all those homes are automatically put up for sale. Due process will take some time before the repossessions are turned in to sellers or are included in New Jersey foreclosure listings.
In comparison, available or up-for-sale foreclosed homes in the state dropped almost 14% in October, compared to data in September. Those that are currently available were foreclosed last year. It is expected that in the state, foreclosed homes in October will be sold to the market next year. It does not take a market analyst to infer that by that |
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