Government Foreclosures. Foreclosed Homes, Properties & Real Estate Auctions

Louisiana Foreclosures

New Orleans Foreclosed Homes and Houses for Sale

New Orleans: Most Unique City

New Orleans foreclosed homes and houses for sale number 800 at present. They bear the median listed price of an affordable $123,603. In striking contrast, the other homes being auctioned at market prices have the steep median listed price of $215,000. This clearly indicates the extent to which the foreclosed homes are discounted at the real estate listings auctions. Timmy Williams, Donald Randon, Cassandra Sharpe and Finis Shelnutt are a few leading property brokers of New Orleans, among the hundreds of agents working there.

New Orleans is an important port city and the largest city in Louisiana State of the US. It is the focal city of the Greater New Orleans MSA {metropolitan statistical area}. The city is among the oldest US cities, and is referred to as the Most Unique US City. New Orleans is the hometown of jazz. It is also famous for its cosmopolitan culture, architecture and cuisine. The sundry suburban cities and towns of New Orleans include Kenner, Harvey, Metairie, Jefferson, Chalmette, LaPlace, Destrehan, Luling, Estelle, Mandeville, Gretna, Woodmere, Marrero, Westwego, Meraux, River Ridge, Terrytown, Slidell, Abita Springs, Covington, Avondale, Bridge City, Belle Chasse, Harahan, Eden Isle, Jean Lafitte, Elmwood, Lacombe, Folsom, Madisonville, Hahnville, Reserve, New Sarpy, Violet, Norco, Violet, Waggaman and Pearl River.

Ongoing Spate of Government Foreclosures

New Orleans has seen a growing number of foreclosure filings, in keeping with the general trend. Market analysts have come up with the Q2 {second quarter} 2008 analysis of the real estate market. Their study reveals that government foreclosures have risen throughout the US. The number of foreclosed homes in Q2 2008 stood 14 percent higher than the Q1 figure and a drastic 121 percent higher than the analogous figure for Q1 of 2007. The state most badly affected was Nevada, where one in every 43 families got a foreclosure filing during Q2 2008. In the same period, California and Arvada were also badly hit by the government foreclosures avalanche. One in every 65 Californian homes and one in every 70 Arizona households was the unhappy recipient of a foreclosure filing during Q2.

During August 2008, the number of nationwide government foreclosures increased by 12 percent over the July figure. Nevada was the state recording the highest rate of government foreclosures, for the 20th month in a row. One in every 91 households in Nevada suffered a home foreclosure, and the state had a total of 11,707 foreclosure filings during the month. The second and third highest rates of government foreclosures were documented in California and Arizona respectively. One out of every 130 households in California, and one from every 182 homes in Arizona was subjected to the foreclosure filings. The Forbes magazine has identified the top 10 markets for buying a foreclosed home in the US as: Charlotte / NC, Raleigh / NC, Nashville / TN, Oklahoma City / OK, San Antonio / TX, Albuquerque / NM, Knoxville / TN, Seattle / WA, Indianapolis / IN and Washington-Arlington-Alexandria.

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