Its good to know that the number of foreclosures in Virginia are under the national average. In fact, Virginia has one of the lowest national averages. Yeah!! We are so lucky, truly. I realize this does not help those that are underwater. Thats a whole different issue. Yet, think of it this way. The shadow inventory is part of the reason prices are being kept as low as they are today. Once the shadow inventory is eliminated, this clears the way for price increases!
The states that are above the national average in foreclosures are as follows:
Nevada, South Carolina, Florida, Hawaii, Maine, New York, Illinois, Indiana, Ohio, Connecticut, and New Jersey.
The KCM blog has a nice map showing the country and the rate in each state. For more information please visit their site:http://www.kcmblog.com/2012/02/24/foreclosures-in-process-by-state/
If you'd like to make the most of your real estate experience call me today. I am here for you and will treat your transaction as if it were my own!