BluegrassForeclosure.com

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.

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.

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.

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.

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.

See the Kentucky Office of Employment and Training’s unemployment figures here.

Nationally, the U.S. Department of Labor reports that the unemployment rate has risen to 8.5%, with a total of 663,000 jobs being lost.  More layoffs are not only possible, but continue to be likely.

How safe is your job, let us know, leave us a comment.

The AP is reporting that unemployment figures rose in every single county in Kentucky. The highest unemployment rate at 18.9% is Menifee County. The county with the lowest unemployment rate at still a healthy 7.4% was Fayette County.

The average statewide rate was 9.2%. This is the highest statewide average in over 2 years. This is also higher than the national average.

This of course, indicates that the statewide foreclosure rate will hold steady for awhile.

Hello, thanks for checking us out. We are working on bringing you the latest news on foreclosures in the Bluegrass State. We are also working on setting up notices of upcoming master commissioner sales in all 120 counties. Finally, we hope to have an e-book for sale soon that goes over the nuts and bolts of master commissioner sales for the beginner. Let us know what you think.