Foreclosures leveling off - Details

This is a great article on CNN, about how analysts are seeing the number of foreclosures drop off.  But for those who think that there are better days ahead, look out. According to the article, 6 states accounted for 60% of all foreclosure filings. California was the leader follwed by Florida, Michigan, Illinois, Arizona and Texas. But Nevada recorded the highest foreclosure rate of any state with one household of every 102 getting hit. If you are a savy real estate investor, this is still a great opportunity to find that right deal. Make sure that your real estate forms or legal forms include language that ensures that you are getting the property in the best shape possible.  While there will always be money in renovations, owners who have been trying to unload property for months or years will be weary to put added investment in a property that isn’t selling.