Baton Rouge Real Estate foreclosures

I blog about this quite frequently. It appears we are starting to feel the pinches of the recession in housing market.

According to the Baton rouge Business Report, “Louisiana still ranks low for foreclosures, even though percentage of homes facing seizure went up by nearly 79% in April, when compared to the year before. According to RealtyTrac, one out of every 1,653 homes in Louisiana is foreclosed, compared with the national average of one out of every 374 houses. That put the state 38th in foreclosures during April. The number of foreclosures nationally went up by 32% in April, when compared with April 2008. Nevada once again had the highest foreclosure rate, with one out of every 68 houses facing bank seizure. Vermont was once again ranked last; there were two foreclosures in the whole state during April. RealtyTrac says April had the highest number of foreclosures since it started keeping an eye on the numbers three years ago.”

While searching for properties this morning I noticed quite a few short sales (pre-foreclosures) just in general listings. What is NOT helping is just how dang hard it is to get a mortgage to help eliminate some of this inventory. Stay posted for more updates on Baton Rouge Real Estate foreclosures!

Have a GREAT day!

Tim Houk