Charlotte Real Estate, Foreclosures, Short Sales

According to CNNMoney.com, there are currently over one million homes in foreclosure.  This is the highest record of foreclosures every recorded.  Michael Larson, real estate analyst with Weiss Research believes that foreclosures will probably not get any better until sometime next year.    "It's the same story we've been seeing for a while now - we had too much reckless lending, and buyers who got over-extended," he said. "We've had an unprecedented decline in home prices on a nationwide basis, which is public enemy number one for mortgage loans. And now you've got an overall economy that has slowed adding to this toxic stew."

This marks the sixth straight quarter in which a record percentage of loans went into foreclosure.  According to the article, the trend led to a widespread decline in home prices.   Banks and other investment vehicles are suffering losses as well.

Over 4800 Available Foreclosures or Pre-Foreclosures as of June 5, 2008

 As of June 5, 2008, there are currently over 4800 homes either in foreclosure or pre-foreclosure in Mecklenburg county, Charlotte North Carolina alone.  There are thousands of great investments waiting for first-time homebuyers, move-up buyers and investors.  Get your financing ready and be ready to submit strong offers.  We are receiving lots of interest and offers to purchase from international buyers due to the weakness of the U.S. dollar.  One Euro= 1.56 dollars.  What a steal for international buyers.  Don't get beat out.  Call us today for FREE foreclosure buying information at (704) 559-5988.