Default Research News Article

MT. PLEASANT, Pa., April 30 /PRNewswire/ -- The number of foreclosures throughout Westmoreland County, PA is up 10 percent from this time last year, according to Default Research, the local, rapidly growing real estate research company for foreclosure properties.

"We have seen skyrocketing foreclosure increases in 'hot spots' around the country with over a 50 percent rise in foreclosure activity in California and Nevada," said Serdar Bankaci, president and chief executive officer of Default Research, Inc. "However, locally we see that an increase of 10% is a fairly low number."

While the majority of the country's median income families have experienced rising interest rates and extreme strains on their wallet, such as fuel costs, it seems western Pennsylvania has avoided the crunch.

"This part of Pennsylvania has a low cost of living and a stable real estate market -- that is the primary reason that foreclosure activity here is low," said Bankaci, whose company provides foreclosure data that arrive two to three weeks ahead of the competition.

Bankaci actually used market research data from Default Research when choosing where to open his business. Which explains why the well-traveled, Greensburg-born entrepreneur chose to come back home.

"Yes, of course, having my family here and knowing the area were the main reasons to move back to this area," Bankaci said from his new office on Church Street in Mt. Pleasant. "Another factor was the reasonable cost of living in Pittsburgh and, very simply, the land is cheap."

With Bankaci's foreclosure leads you can also purchase land at a cheaper rate. That is the advantage of the foreclosure market and the information Default Research offers to its clients.

"With our leads you will be the first to approach the homeowners in distress," said Bankaci. "These properties can provide an excellent opportunity for real estate deals with a possibility for great returns."

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