New Hampshire Foreclosure Homes: Increasing in Number
August 21st, 2007 by 
Joseph Smith
A study conducted by Dover-based PolEcon Research showed that the New Hampshire real estate market will continue to see an increase in foreclosure filings, particularly mortgage defaults. Although the state has the 32nd highest foreclosures rate in the nation, the number of New Hampshire foreclosure homes has risen considerably over the past two years. Experts believe that the situation will peak by 2008, as more owners of bad credit mortgages default on their payments.
Majority of these bad credit housing loans were written by mortgage lenders and companies; and only 3 percent is of the mortgage market is held by banks. Because the number of mortgage defaults is expected to rise, the inventory of New Hampshire foreclosure homes is expected to grow bigger. This situation is actually alarming for banks or mortgage lenders who have ended up owning the foreclosure homes that did not survive the foreclosure auctions. As the inventory grows, so are the holding costs that include insurances and property taxes. Sellers start to get anxious and offer more discounts to reduce the number of real estate owned homes.
Although the study seem disappointing, seasoned buyers still consider this a great investment opportunity. For one thing, the state has one of the lowest foreclosures rate and home prices are not affected. In fact, home appreciation values in most cities in New Hampshire remain to be positive. Buyers of New Hampshire foreclosure homes can expect instant equity. Of course, they will have to be in the right place and time to grab the hottest foreclosure properties offering the most potential.
This is where foreclosure brokers like Foreclosure Deals come in handy. Their database of real estate foreclosures will provide buyers with the ease of choosing which among the thousands of foreclosures fit their budget and preferences.
