City Officials Getting Serious about Lowering Charlotte Foreclosed Homes

City leaders are getting serious about reducing the number of Charlotte Foreclosed Homes currently on the market that are driving down property values and leading to more defaults across the city. A group of city officials toured some of the hardest hit areas on Tuesday and pledged to start doing more to help citizens in danger of default.

Charlotte Foreclosed Homes have risen steadily over the past seven years by roughly 250%, the rate of foreclosures increasing especially in the past few years as the subprime mortgage epidemic began to spread. As home values fell in the city, homeowners could no longer sell off their property for anywhere near what they paid for it, and the end result was their homes becoming listed as Charlotte foreclosure listings.

Year over year,North Carolina foreclosure homes increased marginally between March of 2007 and 2008, inching up by only 2%, but Charlotte saw much higher rises in its urban areas, where foreclosed homes for sale tend to appear most.

Charlotte Foreclosed Homes have unique value for investors, as Charlotte is an up and coming city with booming business and a growing population, and therefore, good potential for investment value. Watch to see how the city deals with the issue, but keep an eye on the potential for investing now. More properties on the market means better prices for buyers at auction.

Related Links:

• Charlote Foreclosed Homes
• Durham Foreclosed Homes
• North Carolina Foreclosed Homes
• Foreclosures for Sale

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