There are presently a total of 1,060 foreclosed homes for sale at the Greensboro real estate listings auctions. Their average listed price is $99,000. Greensboro is a city in North Carolina State, in the US. It is largest city of Guilford County, and the focal city for the Greensboro-High Point MSA {metropolitan statistical area}. As per the US Census Bureau, the Greensboro-Winston-Salem-High Point CSA {combined statistical area}, commonly called the Piedmont Triad, is the 30th largest CSA in the US. Among its suburbs, Greensboro counts the following cities and towns: Jamestown, High Point, Pleasant Garden, Oak Ridge, Sedalia, Stokesdale, Whitsett, Summerfield, Colfax, Gibsonville and Browns Summit.
Government Foreclosures Continue to Grow
Greensboro government foreclosures have been on the upsurge, as elsewhere in the US. From barely 1 million in 2006, the foreclosures had crossed the 1.5-2 million mark in 2007. This year, over 1 million foreclosure filings have already occurred in the first nine months itself. The real estate market is witnessing a hectic home-purchasing spree, as prices slump more. While the analyst may rue the plight of the millions of dispossessed owners, this period is ripe for prospective homebuyers to grab their dream homes at unimaginably low prices.
Greensboro partakes of the national trend in real estate, as revealed by the latest reports. These state that houses with at least a bedroom and a bathroom can be had for the asking at the fantastically low prices of $1,500-$3,000 in such remote cities as Jackson, Detroit, Cleveland, Detroit, Mississippi and Michigan. According to the National Auctioneers Association, residential properties valued at over $14.2 billion had been sold through property auctions in 2005, and that this sector has been growing annually by about 10 percent, suggesting the analogous 2008 figure to near $20 billion.
The latest market reports observe that foreclosure filings have risen by 14 percent in the Q2 or second quarter of 2008 over the previous quarter, and by 121 percent over Q1 of 2007. The states most badly affected were Nevada, California and Arvada. One household in every 43 Nevada households, one home in every 65 Californian homes, and one house in every 70 houses in Arizona was the recipient of a foreclosure notice during Q2. As a prospective homebuyer, it will help you to remain abreast of the most recent market developments. The Forbes magazine has recently cited the top ten markets for buying a foreclosed home in the US as follows: Charlotte, NC, Raleigh, NC, Nashville, TN, Oklahoma City, OK, San Antonio, TX, Albuquerque, NM, Knoxville, TN, Seattle, WA, Indianapolis, IN and Washington-Arlington-Alexandria.
Real Estate Agents Prove Vital
Greensboro real estate transactions are considerably facilitated by its local property brokers, such as Wiley A. Sykes, Kim Shelton, Shelia Siler and Charles Brande. A veteran agent can rid you of all your blues regarding the real estate listings auctions, by sharing his experience and insights with you. It would not be at all advisable for first-timers to foray at the foreclosure auctions unaided by a seasoned real estate agent. Choose your agent with grave care as she will eventually determine the bonanza that you reap from your investment at the foreclosure auctions.
