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Residential and Condo Properties for Sale Increased in Louisiana

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By : John Cutts    99 or more times read
A total of five metro areas in Louisiana recorded increased foreclosure activities during the January-June 2010 period. These include properties that are already foreclosed, like residential and condo properties for sale, and properties that are in various stages of foreclosures.

Among these metro areas were Shreveport-Bossier, Lafayette, New Orleans and Houma-Thibodaux. Baton Rouge was also included in the list, with Baton Rouge foreclosure investing suffering from the increase mainly because of declining home prices.

Overall, Louisiana foreclosed homes for sale climbed during the six-month period, with more homeowners under various foreclosure phases, including those who have received initial default notices and those who had their homes repossessed or sold through foreclosure deals. The Louisiana cities are just five of a total of 154 metro areas all over the U.S. that recorded increased foreclosure activities during the first half of the current year. The country has a total of 206 metropolitan cities.

Home foreclosure list for the New Orleans-Metairie-Kenner region is expected to expand further in the coming months as over 4,000 households received a notice of foreclosure during the first half. This represents a 52% increase compared with the same period of 2009 and a 7.9% rise when compared with the last six months of 2009.

In Baton Rouge, total number of foreclosure notices and foreclosed residential and condo properties for sale jumped by 46.9% compared with the first six months of 2009. A total of 1,817 households received notices during the said period, which represent a 10.3% rise compared with the last six months of 2009. The area recorded a ratio of one household for every 180 receiving a notice of foreclosure.

Meanwhile, Shreveport-Bossier had 739 households receiving notices during the period in focus. This represents a 47.5% rise from the January-June 2009 period. However, it also means a 17.4% decline compared with the last six months of the previous year. Lafayette, on the other hand, had a total of 430 households receiving notices of foreclosure during the current year's first half period. This means that one household out of every 261 has received a notice or has ended up on the list of foreclosed residential or condo properties for sale.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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