BluegrassForeclosure.com

Info and Tips about Ky Master Commissioner Sales

Covington to receive $5 million to help with abandoned and foreclosed property

The KyPost.com is reporting that Covington will receive $5 million to help it combat abandoned and foreclosed property.  I think that there are tremendous values to be had from foreclosed property and hope that you are interested in purchasing these diamonds in the rough.  However, there is a real need to make sure neighborhoods do not fall into disrepair.  That doesn’t help anyone.

This money is part of the federal Neighborhood Stabilization Program.  Read the rest of the story here.

As you purchase properties, we must make sure we protect our overall investment and I think this is a good start.

Knott County Sheriff Sets Delinquent Tax Sale

The Knott County Sheriff will be selling delinquent taxes on May 20, 2009 at 10:00 am.   For a full listing of delinquent taxes in this county for sale, click here.

Home prices decline in Northern Kentucky

www.Cincinnati.com is also reporting that the median home price has declined 25% in the Northern Kentucky area from March, 2008.  That marks a decline in the Northern Kentucky market for 28 consecutive months.

If anyone doubts that we are in a market correction and that home values were over inflated, I invite you to comment on a 28 consecutive month decline in prices.

The market shows signs of thawing though, FINALLY!

There was an increase of 21% from the market in February to March, 2009.

Why is this encouraging for the foreclosure investors?  A robust market helps everyone involved.  But most importantly, according to www.Cincinnati.com, the increase in home sales was fueled by first time buyers and the selling of “distressed” (i.e. foreclosed property) by banks and other lending institutions.

In other words, BANKS ARE WILLING TO DEAL.

If you ever thought you should be buying foreclosed property, there is no better time.

First Time Home Buyers Increasing

In a positive sign, www.Cincinnati.com, is reporting that first time home buyers are entering the market.  Apparently this is a direct correlation to the Feds tax credit for first time buyers.

While the foreclosure investment market has never been better, it is certainly encouraging to see signs of new life in the housing market.

Tax Lien Sales

If you are thinking of purchasing a tax lien at auction, they are a good investment. The return is 12% a year, in most cases. You just have to be willing to put up the cash for potentially a long period of time.

Top 5 Foreclosure Counties

The Top 5 Counties in Kentucky with Foreclosures Filed, according to RealtyTrac:

Jefferson 428
Fayette 70
Kenton 70
Hardin 13
Pendleton 12

Another Spike in the Foreclosure Rate

RealtyTrac is reporting an increase in the foreclosure filings for March, 2009. A total of 341,180 foreclosures were filed nationwide. That was up 17% from February and 46% increase from March, 2008.

Many mortgage holders proceeded with filing the foreclosures due to a moratorium running out. The filings came, even as government programs and other efforts are still being explored to help keep people in their homes.

Nevada and Arizona led the nation again in foreclosure filings. Kentucky certainly has its share, with an increase in filings seen.

Fayette County Delinquent Tax Sale Set

Sheriff’s Tax Lien Sale for Delinquent Taxes set for April 23, 2009 at 10:00 a.m. in the Fayette District Courthouse, 150 N Limestone Ave.

For a listing of this year delinquent tax bills being sold, click here.

Who wants to be a Billionaire?

Quit fooling around with a plain old millionaire and go for the big “B”, as in Billionaire.  There are several great articles that have the common characteristics of well known Billionaires here and here.

Real estate continues to remain one of the best ways to build and keep wealth in the United States.  Once you own real estate, you can see it, feel it, do many different things with it depending on your municipality’s codes and ordinances, improve it, build on it, sell it, and many, many other possibilities.

This real estate market definitely favors anyone who is interested in buying up foreclosed properties.

Franklin County Sales

Master Commissioner Foreclosure Sales for 4/6 and 4/20 posted on the Franklin Co. Page.