Wednesday 10 September 2008

US Foreclosures The New 'Big Thing'

They don't do anything by halves in the US, therefore the following shouldn't come as any great surprise in all honesty. The biggest trend in the US property market these days? Why foreclosure hunting of course - what else would you do in the midst of a full-blown recession and the worst economic crisis since the great depression. 

Business Week reports that foreclosures are up 53% on last year (report is from July but we doubt it's changed much in the past couple of months). US foreclosure website,, is among the most visited sites on searching for the word 'foreclosure', it is visited by 14% of all surfers looking for the topic, and there are lots of them.

It's not all fun and games, however, because any foreclosed property obviously belonged to someone who couldn't afford to pay debts on it beforehand. It is reported that many of those searching for the term 'foreclosure' are desperate homeowners searching for ways in which to avoid having the bank sell their homes. There are some good hints and tips on if this is your unfortunate plight. 

The Irish though, have no qualms about searching for cheap foreclosed property in the US. It is, in fact, becoming a national hobby. Irish investors are trawling the internet for bargains in what has always been one of its favourite marketplaces - the good old US of A. 

For a selection of property in the USA click here.

For a list of agents selling property in the USA click here.

For independent articles on overseas property click here.

For advice on purchasing in the US click here.

For news on the US property market click here.

For new releases and product updates from US agents click here.

For a selection of property exhibitions featuring US property click here.

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