Being at the bottom of real estate lists is not something the Huntsville Real Estate Market is typically known for. However being on the bottom of a recently published Realtytrac’s list is sure enough a GOOD thing, since foreclosure rates is a list you want definitely want to rank low on.
Last week RealtyTrac announced that the Huntsville Alabama Metro Area ranked number 182 out of the 206 metropolitan areas they follow, for foreclosure filings in the third quarter of 2010. We currently have 302 foreclosure filings.; 1 out of every 566 homes, or only 0.18% of local homes being affected.
Huntsville foreclosures are down 21% over just last quarter and 30% below the same quarter last year and are thus continuing the improvement trend we first mentioned 3 months ago. Nevertheless while foreclosure purchase opportunities continue, is a foreclosure purchase right for you; Should You Consider Buying a Foreclosure? While this a personal question that only you can answer the linked to article might help you understand the pros and cons a bit better.
Realtytrac gathers their information by tracking notices of default, homes scheduled for auction and home repossessions. All of these are warning signs that can lead to a home being foreclosed upon.
In the state of Alabama, only Tuscaloosa ranked better than Huntsville, at number 203, in the larger metro areas with populations greater than 200,000. Mobile came in at number 114, Birmingham-Hoover was 138 and Montgomery was number 173.
If a foreclosure purchase is right for you please don’t hesitate to email me or give me a call directly 256-425-1659 and we will see if we can put together a short list of must see homes meeting your search and price range criteria.