There continue to be an increase in foreclosure filings nationwide. The below link is from CNNMoney.com. Despite mispelling Worcester, it lists the Worchester (sic) area increasing by 122%, or one foreclosure filing for every 150 households. From the standpoint of homeowners (and government) this is horrible. And believe me, I feel for these people. From the standpoint of a real estate investor, this represents great opportunity. Many of these homes need work and offer the opportunity for undermarket purchases and forced appreciation (rehab). Looking for these opportunities? Look for more things such as the auction of Countrywide REOs some of us attended this past weekend.
Foreclosure Filings: No slowdown yet
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