somebody's got to buy these properties...
this is the RE market you don't hear about as investors quietly amass fortunes!
It's a bad market to buy a house just to live in. Banks don't want to hold on to non-performing assets (repo'd houses), so if you have $$$ to deal or a market to sell to things are just heating up!!!
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More Americans are losing their homes
By Melinda Fulmer
Risky borrowing is catching up with a number of homeowners across the U.S. Foreclosures rose 45% in January compared to a year ago, and experts only expect the pace to accelerate. The number of homes entering some stage of foreclosure -- from notice of default to bank ownership -- increased 45% in January from the same period a year earlier, according to Irvine, Calif.-based RealtyTrac. That was one new foreclosure for every 1,117 U.S. households.
The number of foreclosures is still low on a historical basis, but it has been rising steadily over the past year, RealtyTrac reported. Job losses in some regions were to blame, but so, too, were risky borrowing practices that left homeowners little wiggle room on their mortgage payments. And with the pace of appreciation stalling and interest rates rising, many economists and industry observers expect the pace of foreclosures to accelerate this year.
Georgia leads the pack
The areas of the country with the highest foreclosure rates on a per capita basis were Georgia, Nevada and Colorado.
* One out of every 422 households was in some stage of foreclosure in Georgia in January -- an 88% jump from the previous year. Georgia also came in at No. 5 for the highest total number of foreclosures.
* Nevada was second, with 1,795 properties entering foreclosure; 2 1/2 times the number reported the year before and one for every 483 households.
* Colorado came in at No. 3, with a 36% rise to 3,747 properties, or one in every 488 households.
Economists speculated that lost jobs in and around the Atlanta and Denver areas were the main culprits. Realtors say the hardest-hit areas appear to be houses in lower-income urban neighborhoods.
“There are definitely more foreclosures out there,” said Duane Duffy of Metro Brokers Duffy & Associates in Littleton, Colo. Indeed, when Duffy recently took a client looking at homes in southwest Denver, “one out of every four homes we were looking at seemed to be a foreclosure.” But, foreclosures, he said, are becoming much more commonplace across Denver County.
The states with the largest total number of foreclosures were Texas, with 14,669 foreclosures; Florida, with 10,334; and California, with 9,354.
In many cases, the high number was a factor of the large population, and not an indicator of a greater percentage of people getting in over their heads. In California, for example, where the number of properties entering some stage of foreclosure reached
9,354 in January, the rate at which homeowners were defaulting was still below the national average.
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National Foreclosures Decrease 13 Percent in March According to RealtyTrac(TM) U.S. Foreclosure Market Report
Foreclosures Up 63 Percent From March 2005
Colorado, Georgia, Indiana Post Highest Foreclosure Rates
IRVINE, Calif., April 18 /PRNewswire/ - RealtyTrac(TM)
(
http://www.realtytrac.com), the leading online marketplace for foreclosure
properties, today released its March 2006 U.S. Foreclosure Market Report,
which shows 101,597 properties nationwide entered some stage of foreclosure
in March, a 13 percent decrease from the previous month but a 63 percent
increase from March 2005. The report shows a March national foreclosure
rate of one new foreclosure for every 1,138 U.S. households.
If you only knew! 
. I tell ya, this holiday season is gonna be a really sad one for equity locusts and RE hot heads.
.... BWHAHAHAHAHAHAHAHAHAHAH 
