Philadelphia Foreclosures Manage to Stay Below National Average

The foreclosure properties in Philadelphia metropolitan area have climbed to 1,534 in the 2nd quarter of the year. This is a 27% increase from the previous quarter, with one foreclosure being listed for every 1,021 households. This statistic is much below the national average, putting Philadelphia metro area fourth on the top 5 largest metro areas foreclosure list. Furthermore, the latest RealtyTrac® U.S. Foreclosure Market Report suggests that Philadelphia foreclosures are higher than those in New York but lower than in Los Angles, Chicago, and Dallas.

The two things that go in favor of Philadelphia are the below-average rate of unemployment and a slow and steady appreciation in residential property prices. This also means that Philadelphia foreclosures have stayed in control and despite some erratic movements, the city’s foreclosures percentage is still well below the nation’s average and considerably lower in comparison to that in other larger metropolitan regions. This also means that the people of Philadelphia have more money and are able to pay off their monthly mortgages without having to miss any payment. The decline in foreclosure filings is an encouraging sign and the positive effects of this trend can be witnessed in other countries in the state of Pennsylvania as well.

The majority of the foreclosure activity reported in Philadelphia comes from the county itself. The Philadelphia country reported 1,122 foreclosure filings for the 2nd quarter, which is the most count for any county in the metropolitan area and a striking 14% hike from the previous quarter. However, good news is that the remaining counties in the metro area have recorded below national average foreclosure rates. Such as Bucks County that reported only 95 foreclosure filings and one per every 2,374 households. While Chester country has only 67 foreclosure filings and one per every 2,444 households, to Montgomery Country’s 64 filings and one per 4,647 households.

The Pennsylvania foreclosures are down by 18%. Though the state reported as many as 2,893 foreclosures, this has amounted to only 21% increase from the previous quarter and a 26% rise from the same time previous year. The state is currently ranked #29 among all the US states for foreclosure and is happy being below the nation’s average at one foreclosure filing per 1,8115 households.

Philadelphia foreclosures are showing a healthy trend of decline offering people more opportunities to invest in new developments while enjoying the fruits of their labor in a country that is increasingly facing foreclosure crisis.

The Most Livable City: Pittsburgh Foreclosure Listings

It is true, the growing city of Pittsburgh, Pennsylvania is quickly becoming a popular place to live and Pittsburgh foreclosure listings make it even more so! Pittsburgh which is the second biggest city in Pennsylvania was built on the land around the junction of the Monongahela and Allegheny rivers. This city is famous for its amazing structures which include approximately 151 skyscrapers and around 446 bridges. Because of the low cost of living in Pittsburgh; economic opportunities, education, and transportation; Pittsburgh is consistently ranked high in livability surveys. For these reasons alone, shopping for a home in the Pittsburgh foreclosure listings becomes even more enticing. Buying a Pittsburgh foreclosed home can be your gateway to this fascinating city and a prime investment.

Pittsburgh foreclosure homes are perfect for low to moderate income families. The cost of living is low and this makes the price of Pittsburgh foreclosure listings even lower. Pittsburgh home foreclosures sell from 40-60% less than their market value and with real estate cost being low these Pittsburgh foreclosure listings are a steal for anyone and waiting to be snatched up. However, finding Pittsburgh foreclosure listings can be difficult if one does not know where to look for them and cannot afford to hire a professional. That's where E-foreclosuresearch.com comes in. E-Foreclosuresearch.com knows right where to look for Pittsburgh foreclosure listings and does all the hard work for you. Imagine making your home purchase without all of the hassle of dealing directly with a real estate agent, not to mention the tiring journey of searching for the "right" home for you on your own. If you use E-Foreclosuresearch.com then you do know right where to look for Pittsburgh foreclosure listings!

Pennsylvania Bank Foreclosures for sale

Pennsylvania is a great place to live, and work and here you can enjoy the richness of life. Pennsylvania foreclosure homes make it possible to live the American dream.

Real Estate market in Pennsylvania

Pennsylvania not only offers some of the best job opportunities but also some great communities and a variety of recreational activities. All this comes with some of the best foreclosure homes in Pennsylvania and a low cost of living. Pennsylvania not only offers a low cost of living but even the property taxes and insurance premiums are less, which can help you save a lot of money. Let’s look at a comparison chart for cost of living and real estate prices.


From the above, you can make out how much difference there is between some of Pennsylvania, New York and Chicago. Last year, Pennsylvania’s mortgage foreclosure rates were ranked as the 19th highest in the Country. This was on the basis of a report taken out by the congressional Joint Economic Committee in Washington, D.C. Pennsylvania has recorded a filing rate of one in 137 households as compared to the national rate of one in 92 households. This resulted in people losing their home to Pennsylvania home foreclosures.

Pittsburgh, PA came out with the 50th highest foreclosure rate in the country recording one foreclosure per 92 households, which is same as the national average in 2006. Philadelphia saw a decrease in foreclosure filings in 2006 with 22%, and this was the third straight month in a row. In the April of last year, Philadelphia County reported 896 properties entering foreclosure, which is a 19% decrease from the previous month. The foreclosure rate in Philadelphia was one foreclosure filing for every 739 households, which is still 1.7 times the national average. This has opened up the market for buying Pennsylvania foreclosed homes and more and more investors and individuals have actually bid at the auctions.

Finding home in Pennsylvania

Finding a nice home in Pennsylvania is not a problem but finding the right one may be. After all, a home is for keeps! Hence it is important that you search through Pennsylvania foreclosures listings thoroughly to find the home that will suit your needs. These lists are normal available with most lenders, banks and financial institutions and are also available with different real estate auction websites. Bank foreclosures in Pennsylvania are sold at a public auction and the best bidder always wins.

Due to a sudden decrease in foreclosed home rates this year in places like Bucks County (58% decrease), you might not find the best Pennsylvania bank foreclosures but you can always check out some of the old ones from last years inventory. Normally the listings mention all important details of each Pennsylvania foreclosure homes but it is always better to check these homes physically because they are all sold as seen. It is always better to purchase those Pennsylvania bank foreclosures, which don’t need much or any repair.

Find Orland Park foreclosures for sale at low prices

What Do People Like About Orland Park?

There are lots of things to like about Orland Park, and one of the things that tops the list are the Orland Park foreclosure listings. It is a family-friendly community that is welcoming to new residents and new businesses alike. Orland Park residents are truly committed to making sure that the future is bright for this little city. Do you want to know how to buy foreclosure homes in Orland Park? Then we will be overjoyed to show you the unbelievably easy steps you need to take.

Meet Your New Neighbors

Orland Park has homes in many great spots. Not to mention the fact that many of them are Orland Park bank foreclosures. They are an alternative that not everyone considers when looking at properties, and we know that you want to know about houses, condos and other properties that you can get a good rate, lower closing costs and overall lower mortgage payments on by purchasing one of these. Find a place to live in one of the rapidly growing areas of the great state of Illinois. Our listings are complete, and filled with all the details you need to assess each repo home against your list of needs and wants.

Service That Will Make You Happy

Our services are head and shoulders above the rest, and we want the chance to prove it to you. We really do care about finding the most current listings in Orland Park and all over the nation.

Investing In Pennsylvania Foreclosures Can Be A Wise Move!

Pennsylvania is one of the few states in the country which has managed to defy the national trend of constantly rising foreclosures. Pennsylvania has seen a downfall in the number of homes being foreclosed ever since 2005. The main reason why Pennsylvania ranks low when it comes to states with the highest number of foreclosures is that lenders in the state have adhered to cautious but safe lending practices.

The state has one of the lowest numbers of sub prime loans, which have been the major cause of the foreclosure flood sweeping the country. Since most banks and lenders have doled out only prime loans to people who had the capacity to pay them back in full, homeowners in Pennsylvania are not in a situation where the danger of losing their properties to foreclosure is as high as that in other states.

It is because of this reason that the state of Pennsylvania ranks number 33 in the list of states with the highest rate of foreclosures. However, this does not mean that the state has been totally immune to foreclosures either, and foreclosed properties are available for sale in almost all counties across the state. Sub prime loans, adjustable loan mortgages and a high incidence of unemployment in the Pennsylvania have caused a large number of homeowners to lose their homes to foreclosure proceedings.

Buyers and investors interested in buying Pennsylvania foreclosures will be able to find the best deals in the counties of Philadelphia, Allegheny, York, Montgomery and Dauphin, since thousands of foreclosed properties are on the block in these areas. These five counties make up for the majority of filed Pennsylvania foreclosures and therefore, it will not be difficult to buy real estate property at a discount of 20% to 30%.

Apart from these counties, many investors are eyeing suburban properties in Erie, York, Pittsburg and Harrisburg because of their potentially high resale value whenever the market picks up. Foreclosure properties are available all over the state, but the discounts might not be very high because of the low inventory of foreclosed properties in some areas.

Pennsylvania Witnesses 20% Spike In Foreclosure Activity for March 2008

The State of Pennsylvania has reported 2,900 foreclosure filings for March 2008, a 20% spike from Feb’08, and a decrease of 1% from the same time last year. According to a report published by RealtyTrac U.S. Foreclosure Market Report, foreclosed homes Pennsylvania are increasing as the unemployment rate in the state has risen quite a bit through the past year.


For foreclosures by state, Pennsylvania ranks # 21 nationwide and has reported one foreclosure for every 1,880 PA households. Currently the foreclosure rate for Pennsylvania is ranked at 33rd rank amongst the 50 states in the U.S. of A. The bulk of Pennsylvanian’s foreclosure activity can be attributed to the top five counties including Philadelphia, Allegheny, York, Dauphin, and Montgomery Counties. These 5 counties account for 69% of foreclosure homes in the state for March 2008.

Philadelphia County notched the top position for the highest foreclosure rate with 719 filings; following closely is Allegheny County with 682 properties; while York County and Dauphin County reported 241 and 197 foreclosure filings respectively. Montgomery County, which is ranked fifth, with 174 foreclosure filings, rounds off the top 5 counties in the State for foreclosure.

Dauphin County showed the highest foreclosure rate for March 2008. One foreclosure per 588 Dauphin County households was 3.2 times more than the state’s average for foreclosure filings for March 2008. Behind Dauphin County was York County with one per 712 households, and Allegheny County with one per 866 households. Pennsylvania accounts for a total of 1% of the national total foreclosure rate for March.
Whether it were tax foreclosure homes, or bank foreclosure homes, Pennsylvania had 234, 685 property owners filing for foreclosure in March alone.

Protecting Vulnerable Homeowners From Effects Of Foreclosures in PA

According to the report released by the Department of Banking, ‘Losing the American Dream: A Report on Residential Mortgage Foreclosures and Abusive Lending Practices in Pennsylvania’ recently, the state of Pennsylvania is experiencing a high rate of foreclosure. The report highlights the subprime practices as the main reason why majority of homeowners state and nationwide have their homes in foreclosure.


Furthermore the report takes initiative to outline a series of methods that can help protect the vulnerable homeowners who are getting affected by the subprime and unemployment situations. PA foreclosure homes (and across the nation) are the reflection of increasingly predatory lending practices where lenders offered loans to homeowners who had bad credit histories and didn’t qualify for ‘prime’ or main loans.

Though the nation’s witnessing a surge in the number of homes in foreclosures by state, foreclosures in Pennsylvania State have seen a dramatic fall since the end of 2006, defying the national trend. New data suggests that the foreclosure situation in the state is beginning to right itself, as the number of new Pennsylvania foreclosure homes has fallen steadily since August. There was some more good news in store for Pennsylvania residents, as the foreclosure filings for 4th quarter of 2007 dipped by 20% compared to October number for 2006. This was a unique occurrence as most other states witness doubling of their inventory for the same period. Pennsylvania State appears to have found an effective way to insulate itself from the subprime tsunami and many experts attribute this to the traditional lending practices followed in the state.

The Pennsylvania lenders exercised precaution and authorized ‘subprime’ loans in lower numbers than in the other states of the nation, invariably reducing the high incidence of bank foreclosures connected to such type of loans.