It certainly looks like the foreclosure situation in the USA is continuing it's downward spiral. Some people that have money are snapping up some great bargains in areas of the country were they believe are at or near the bottom of the real estate market. Florida in one state that is claiming to be at the bottom right now. Oregon on the other hand is worried that it has not found their bottom market and still has a way to go.
Many large cities that were founded on money and real estate prices are having a hard time rebounding. Las Vegas was really hard hit by the down turn. Here is more information about the Las Vegas Foreclosures.
Buying a foreclosed property is not all fun and roses. You need to do some homework on the property you are thinking about buying. If the house was foreclosed because of a second mortgage then you must be aware that the first mortgage on the property is still in force and will have to be paid.
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