According to housing market analysts, the mediation effort has not been able to cut down the number of foreclosure homes in Fort Lauderdale, in Miami and in other key markets of the state mainly because it is merely a voluntary program. This means that both lenders and borrowers are not required by law to enter mediation so anyone can ignore it and no solution for troubled homeowners are developed that can replace foreclosure.

The program was supposedly put in place last year to help owners of foreclosure homes in Florida and to also cut down the state's backlog of foreclosure cases which, at the start of 2010, was around 462,000. Local analysts reported that the program was able to reduce the backlog of cases by at least a third, but it failed to meet its original purpose; that of helping state homeowners avoid foreclosure.

Data presented by the Office of the State Courts Administrator revealed that almost 58,000 cases were referred to the program within the six months following its March 2010 inception. These cases include delinquent borrowers, properties listed for sheriff sales and other foreclosure-related cases. However, out of this total, only 2,162 cases as of May 1, 2011 have produced an agreement between borrower and lender which translates to around 4% of all pending cases.

Those markets where one can find foreclosed homes owners to have benefitted from the program by a larger number were under the jurisdiction of the 12th Judicial Circuit. These areas include DeSoto, Manatee and Sarasota counties which had a combined success rate of around 4.2%. Out of the 1,691 cases in these areas, 71 were reportedly able to secure a settlement. Most court officials expressed their dissatisfaction over the failure of the program to meet its original targets.

According to them, a big number of homeowners who are in danger of losing their properties to foreclosure sheriff sales do not bother to show up; with majority of them not even aware that such a program exists. Administrators have reported that in 60% of the cases, they were unable to get in touch with the borrower to let them know about the mediation initiative.

The number of existing houses sold during January 2011, including non-foreclosed and foreclosed homes in Kansas City, was up by 1.3% compared with January 2010. The rise was not as high compared with other metro regions and the nationwide average, but it still provided good news to realtors and home sellers. At the national level, the January increase marked the third month in a row that home sales have risen in the country.

Housing analysts stated that the increased number of foreclosed homes in Missouri and other types of existing residences that were sold all around the U.S. during the month showed a growing confidence among homebuyers and investors, especially since January is traditionally a slow month for selling houses.

The National Association of Realtors reported that existing dwellings as well as those offered at sheriff home sales rose by 2.7% compared with December of last year. Year-over-year increase, on the other hand, was pegged at 5.3% nationwide. It also marked the first time that sales recorded a year-over-year growth in a span of seven months.

However, the effects of difficult lending conditions were evident in January sales figures as cash transactions involving purchase of foreclosure property for sale and non-foreclosed houses rose considerably when compared with past periods. According to housing market analysts, more buyers would have entered the market if not for the restrictions in the credit industry. The financing difficulties also resulted in more cash transactions during the month.

Around 23% of total existing dwellings and sheriff home sales were accounted for by investor purchases, while all cash purchases accounted for 32% of total housing unit sales. Analysts stated that both trends showed that buyers are having difficulties securing financing for their purchases. They also stated that when credit is tight, investors are more likely to take advantage of undervalued residential properties.

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Aside from increases in Salt Lake City foreclosures and distressed properties in various areas of the state, Utah also experienced escalating bankruptcies in 2010 with total filings reaching almost 18,000 as of December. The number is 24% higher than the 2009 total of 14,481 according to the U.S. Bankruptcy Court District of Utah. Statistics also showed that each month of 2010 recorded year-by-year increases, with the rise ranging between 10 and 36% when compared with 2009.

Utah foreclosures and bankruptcies posed serious problems for the state's economy in 2010. But it was not alone when it comes to recording huge totals in both areas. For December 2010 alone, Associated Press data showed that 113,000 filings for bankruptcies were recorded in the whole country. The good thing about the country-wide single month statistics though, is that it represents a decline of 3% compared with December 2009.

Sheriff real estate sales and distressed property numbers all over the U.S. continue to increase in 2010. In terms of bankruptcy filings, the nation posted a total of 1.55 million for the year, representing an 8% rise compared with year-ago levels. Despite the increase, 2010 can be considered a very good period in terms of bankruptcies given that 2009 numbers represented a 32% increase from the previous year, while the year before saw a 33% surge.

Much like 2010 data for foreclosures, bankruptcy figures vary from region to region. Among the 50 states, 13 posted a drop in bankruptcies during the period, with majority of them coming from the South. West Virginia was top in terms of percentage decline at 10%.

Record numbers of bankruptcies were last recorded in 2005 when filers reportedly tried to rush claims before the U.S. Congress can implement changes in bankruptcy law. For 2011, economists are expecting bankruptcies to remain much the same as the previous year just like foreclosed Sheriff real estate sales are expected to remain flat.

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The number of foreclosed homes sold during the month, including Bakersfield foreclosed homes, dropped considerably in most areas of the state. According to a report from MDA, house sales for the month declined by 24% compared with October 2009 in areas like Orange County, San Bernardino, San Diego, Riverside and Los Angeles. The areas had an accumulated total home sale of 16,744 for the month.

The decline is reportedly the lowest October home sales record for the Southern area of the state since 2007. California foreclosed homes for sale account for 35% of the region's home sales in October, representing a 40% decline when compared with the same month of 2009. MDA also reported that the median price of houses in October was $283,000, representing a 1.1% rise compared with last year, but down by 4.2% when compared with September 2010.

According to housing market analysts, home builders are unable to construct residences that can be priced at the same level as foreclosed homes being sold at a Sheriff auction or through short sales. The lack of lending options for more expensive properties also meant that sale of higher end houses also declined during the month.

Among the local counties in Southern California, Ventura posted the most significant sales decline at 30% when compared with October 2009 figures which include foreclosure for sale and new homes. The price of houses in Ventura also dropped by 2.7% with average home price pegged at $355,000.

In terms of home price increases, Riverside posted the highest increase at 4.2%, with average home price posted at $198,000. According to housing data for Southern California, the region has experienced a gain every month starting December 2009. House prices have bottomed in April 2009 at $247,000.

MDA DataQuick has also revealed that the average number of home sales for the region every October, including those offered at a Sheriff auction is 24,123. The current year's October home sales are about 31% below this average.

According to real estate reports, before the surge of foreclosure numbers in the area, including foreclosed homes in Fayetteville, investors were made to lose money by certain people who promised quick profits to investors who will invest in undeveloped pieces of land. The scheme was reportedly developed by mortgage broker Mark Dain.

Before the issue of North Carolina foreclosure listings became a problem, Dain reportedly lured investors to purchase beach-front undeveloped lands with no down payment required. The pieces of real estate are then flipped and quick profits are provided to the purchasers. Dain was reportedly able to convince his old high school football coach, several schoolteachers and others to invest in the lands.

Local authorities have declared the scheme as the biggest real estate fraudulent action in the state, even worse than the more common fake rescue companies that offer help to owners of houses from foreclosure listings. The value of the lands sold by Dain eventually plummeted, with some going down from $400,000 to as low as $20,000.

While Sheriff home sales and foreclosure problems grab the real estate sector's attention, lawsuits filed by the investors against Dain and his associates are continuing to increase in number as most of these investors have already gone bankrupt, according to local reports. Around 500 people are said to be currently in possession of worthless pieces of land sold by Dain.

A total of 285 buyers are currently acting as plaintiffs in a case that is attempting to go after banks that were allegedly involved in issuing loans to people who cannot afford them in the first place. The banks' actions, the plaintiffs have argued, have resulted in massive foreclosures on properties that have been valued beyond their real worth.

According to them, such operations precipitated the foreclosure crisis and the deluge of properties sold at Sheriff home sales in North Carolina. Lawyers for the plaintiffs have also argued that the banks that issued the loans without even considering the credit status and financial conditions of the borrowers should also be held responsible.

With all areas and most sectors of the state suffering from foreclosures, including Charleston foreclosure investing, residents will be looking forward to the latest effort from the Obama administration. According to the federal government, the latest effort will provide financial assistance to support initiatives recommended by the Housing Finance Agencies of several states.

With the number of South Carolina foreclosure homes for sale continuing to rise in number, the state will be one of a handful of regions that will be part of the program aimed at helping an estimated total of 50,000 households. Other states included in the initiative are Ohio, North Carolina, Rhode Island and Oregon.

Under the program, South Carolina will get $138 million. The money will be used to help homeowners who are at risk of losing their homes to foreclosures or having them sold off as Sheriff Sale properties. An estimated 12,000 households in the state are expected to benefit from the effort.

According to local analysts, the program came at a good time, as the number of foreclosed properties is increasing again and not a lot of people are interested in how to buy foreclosure properties. However, they also stated that it is critical that the funds be distributed as quickly as possible to save homeowners before their properties are lost to foreclosures.

The program has a total budget amount of $2.1 billion, with the money coming from the $75 billion mortgage assistance effort introduced in March 2009. Aside from the $138 million that will be given to South Carolina, the program will also provide $159 million to North Carolina, $172 million to Ohio, $88 million to Oregon and $43 million to Rhode Island. All funds will be used to assist homeowners from these states who are in danger of losing their homes to foreclosures or have them sold off as Sheriff Sale properties.

The story is the same all throughout the state, with New York City and other major areas all experiencing fluctuating numbers. In NYC, foreclosure rates rose by three percent when year-over-year statistics are used as basis. However, when compared with the last six months of 2009, the first half of 2010 showed New York City recording a 24% decline in foreclosure rates.

Meanwhile, statewide numbers showed that homes sold under New York foreclosure auctions and dwellings in various phases of foreclosures have increased during the first half of 2010 by 1.22% when compared with the same period of 2009. When compared with the last six months of 2009, the state recorded an almost 20% drop.

Home sales remain few in number despite the fact that bank repossessions continue to increase, particularly during the second quarter of the current year. Repossession recorded a 47% increase all over the state when year-over-year statistics are considered.

Sheriff foreclosure sales and other home-selling activities remain practically the same. One development that analysts are considering as good news is that the foreclosure rate of the whole state is the 10th lowest in the whole United States at 0.31%. National foreclosure rate is pegged at 1.28% during the first half of the year. Meanwhile, New York City foreclosure rate is even better during the same period at 0.29%.

Despite the low foreclosure rate at the first half of the year, certain areas of the state are recording rates that are higher than national averages. As an example, homes under Staten Island foreclosure auctions continue to be a problem, with the area registering a 1.49% increase in foreclosure when compared with country-wide numbers. South Jamaica, Lower Manhattan and Queens are also experiencing higher than usual foreclosure rates.

All in all, analysts reveal that Sheriff foreclosure sales and other home selling activities are still not enough to offset the number of foreclosures in the whole New York state. However, real estate experts are seeing some hope for a recovery if the state's first six months of 2010 performance is to be considered.

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Although sales from Fort Worth foreclosure auctions have struggled, at least one sector of the area’s real estate market is showing a comeback. Realtors are optimistic that the condominium and town house market is on its way to making a recovery as evident in the continuous sale of units at some condo buildings, including the Ritz-Carlton where more than $20 million in sales have been made since the start of 2010.

The recession has lessened the number of people buying into home auctions in Texas since 2009, with the condo sector also suffering the same fate during the previous year period. According to real estate analysts, the economic downturn has put a stop on condominium buying in 2009.

However, the first half of 2010 showed a 24% increase in townhouse and condo sales compared with the previous year. Although sales are still not as high as in 2008, realtors still see the increase as a positive sign, particularly when other property sales like Sheriff sales and home auctions were unable to record any significant increase during the same period.

More people in the Dallas-Fort Worth area seems to be favoring condo units and townhouses over buying foreclosure homes for sale. However, this does not mean that people’s tastes have become more luxurious amid the ongoing recession. Local realtors have reported that the increased sale in condos did not come from high-rise luxury buildings but from affordable structures.

Realtors believe that most residents who took advantage of the tax credit decided to use the incentive in purchasing regular-priced townhouses and condo units rather than purchase homes from Sheriff sales or foreclosure auctions. For now, condos seem to have the upper hand over regular family dwellings.

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This could be a development worthy of the interest of people and businesses involved in Fort Worth foreclosure investing. The total worth of commercial structures that will be available for foreclosure auction in April is said to be higher than the combined total of recent months’ foreclosures, market analysts have reported.

More than 300 commercial properties from the Forth Worth-Dallas area will be auctioned in April. This is considered a big jump compared with the last few months when foreclosure auctions in Texas average by around 250.

Some of the most notable commercial structures that will be auctioned include the Element Hotel in Irving and the Firewheel Distribution Center in Garland. The owners of Element Hotel and Firewheel are said to be nursing over $13 million of debts for each property.

Other big property names that will be available for foreclosure auctions in Texas are the Star Creek development in Allen and the biggest of all listed properties, the Four Seasons Resort and Club at Las Colinas. The Four Seasons is said to be sitting on a $183 million debt, while the Star Creek project is facing a $15 million debt.

Although Four Seasons owner BentleyForbes is able to reach a standstill agreement with its lenders and a better deal is being expected in the future, the property was still posted for foreclosure while both parties are still continuing negotiations.

Despite the fact that there are still a lot of available properties for people who search foreclosed homes for sale, the amount of commercial foreclosures in the Dallas-Forth Worth area has somewhat overshadowed the residential property foreclosure market.

As the number of distressed homes for sale, Sheriff Sales and other residential property foreclosures in Texas continue to rise, local real estate market observers’ attention is caught by the huge amount of office buildings and commercial development projects that would be available for auction in April.

According to a report presented by First American CoreLogic, the Dallas-Forth Worth area leads the whole country in terms of mortgage maturities for commercial properties in February of the current year. The research firm has revealed that over $4 billion of the total $20 billion of property loans for the commercial real estate market of the U.S. are accounted for by the Dallas-Fort Worth area.

Another Texas city, Houston, comes in at second place, with close to $3 billion worth of commercial mortgages that matured in February. According to real estate market analysts, these big numbers are due to the difficulties faced by borrowers in convincing lenders to refinance or extend their commercial loans.

Although Sheriff Sales and other residential foreclosure auctions are still posting high numbers, commercial property foreclosures have stolen the headlines in Texas, primarily because of their big worth in terms of dollars.

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Cities and counties which previously delayed actions against delinquent real estate taxpayers are now being forced to sell tax liens to private firms so they can close gaps in their budgets and continue to provide basic services such as education, police and fire protection services to their communities.

In Detroit, tax-foreclosed parcels have been contributing to the high number of foreclosures in the city, which have surpassed 50,000 units.

In Shelby County, Tennessee, Debra Gates of the trustee?s office said that the office has been selling about four to six tax foreclosures a year. She added that tax foreclosures are being sold through foreclosure auctions.

In Lancaster County, Pennsylvania, five tax-foreclosed properties were sold so far this year. According to Deb Dochat, head of Lancaster?s tax claim bureau, residents are experiencing financial difficulties, but she does not see a sharp rise in tax delinquencies this year.

In Cuyahoga County, Ohio, property taxpayers are concerned about the correctness of their tax appraisals in the past few years after their auditor Frank Russo and his subordinates have been implicated in a bribery case involving private appraisal firm V.A.S. Enterprises.

Meanwhile, Amsterdam in New York has decided to handle its tax foreclosures after selling its tax liens to a private lien investor for two years.

Sheriff sales, foreclosed houses for sale and foreclosure auctions from mortgage foreclosures are also still increasing in many counties and cities.

In Ingham, Michigan, the number of sheriff sales in September increased compared to the previous month, but when compared to September 2008, the September sales marked a decrease. There were 98 units sold in September, down from the 136 units sold by the sheriff?s office in September 2008.

According to Eric Schertzing, treasurer of Ingham County, he is seeing an improvement in mortgage foreclosures in his county.

Meanwhile, in Lancaster County, 234 houses have already been sold during the first 4 of 7 scheduled sheriff sales, foreclosed houses for sale in 2009. According to the sheriff's office, if the current pace of defaults and foreclosures continue, over 400 houses will be sold this year, a sharp increase from the 312 foreclosed units sold by the sheriff?s office in 2008.

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