Experts Expect a Second Wave of Local Foreclosure

Foreclosures in the country make up a huge portion of our local real estate market; as well it has been a big problem inside the cities.


They anticipate it to occur in the first six months of this 2011, and even with that frustrating news they say there are signs that the market is recoiling, taking in consideration the fact that an increasing number of outside buyers are looking the market as a good investment.

Approximately 35 % of homes on this market  are foreclosures. In 2010, 10,000 homes were foreclosed on in theismarket and this year we'll hit that number and most likely exceed that amount experts say.

A severe wave of foreclosures is going to hit in the first six months of this year, continued by stabilization in the other half of 2011.