Default Research News Article

The '7' in 2007 has proven to be lucky for some states, while others still believe their fortunes from last year's foreclosures statistics have not changed. Michigan, for example, had an eight percent decrease in foreclosures while it has been a very hard beginning to the New Year for Washington State, which recorded a 15 percent foreclosure increase, according to Default Research (www.defaultresearch.com), the rapidly growing real estate research company for foreclosure properties.

"There are no sure bets now when it comes to which states experience an increase or decrease in foreclosure activity," explained Serdar Bankaci, president and chief executive officer of Default Research, Inc.

Bankaci pointed out that two states hit hard last year by foreclosures were Florida and California. This year the two states are polar opposites. In fact, Florida, one of the country's most volatile states, had foreclosure rates continue to go up more than20 percent. California, on the other hand, only had a minor increase of four percent, mainly in the northern bay area.

"Just last year, most areas of the country were suffering with foreclosure activity," said Bankaci, whose company provides foreclosure data that arrive two to three weeks ahead of the competition. "Now, unfortunately, the country is in a national housing slump, which produces decreased home sales and reductions in home prices."

According to Bankaci, this recent dip in home sales combined with a leveling off and stabilizing of interest rates, provides an excellent opportunity to make money in the housing market now. Bankaci knows better than anybody in the business that it is a buyers' market, especially in the pre-foreclosure market.

"Frankly, with Default Research's pre-foreclosure information, investors can find a home for below market value and they can really profit," said Bankaci. "At the same time, these Investors with good credit and financing can help people get out of debt and avoid a distressing, life-altering situation."

Default Research is the national leader in real estate research: www.defaultresearch.com.

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