Good News about Foreclosures in North Carolina

By: Joseph Smith

Despite some bad numbers the last few months, foreclosures in North Carolina have been dropping fairly quickly which could be good news for the state’s real estate market.

North Carolina has always been one of those proud states along the Atlantic Coast that attracts tourists and residents from everywhere else in the world thanks to its friendly people and beautiful setting. However, foreclosures in North Carolina have largely been a depressing reminder of how poorly the rest of the country has been doing. Even though the state ranked 29th in terms of the number of foreclosures, those numbers still mean thousands of new notices are being sent out every single month.

The good news, however, is there are positive signs for the state’s real estate market. According to trends in real estate, announced that the number of foreclosures in North Carolina in October 2008 dropped 20% from the figures for October 2007. That’s good news for the state and could mean the real estate market has hit the bottom. Of course, on the flip side of the good news is another dark cloud. Despite the reduction in foreclosures in North Carolina, the numbers for October 2008 are still higher than for September 2008.

However, most experts on real estate view the next six to twelve months as a good time for investors to benefit from foreclosures in North Carolina because prices will drop and make some great real estate very affordable for all types of buyers and investors with money to spare.

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Joseph Smith has been educating buyers on the finer points of North Carolina Foreclosure Homes purchase at for over nine years. Click here to visit and read more advice on finding Foreclosed Homes.

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