I'm SO Glad I Don't Live in FL, CA, AZ, or NV!!
As usual, the worst offenders are the states that had the largest run-up in prices during the housing bubble of the first half of the decade. Florida, California, Arizona, and Nevada top the list for delinquent loans and foreclosures with 43% of all new foreclosures started being from one of these four states. In fact, 25% of all Florida loans were delinquent or in foreclosure as of the end of the third quarter. While the pace of delinquencies is challenging here in the Smoky Mountains at least we aren't that bad off. If you are looking to buy a Gatlinburg, Pigeon Forge, or Sevierville cabin, chalet, or residence however there are lots of opportunities. For a free list of all foreclosure and short sale properties listed by any area firm just click here. For free professional advice regarding purchasing or selling Gatlinburg area real estate please contact us!