Foreclosures poised to hit three million this year

By: Associated Press
By: Associated Press

Wednesday, December 8, 2010

SAN FRANCISCO (AP) -- RealtyTrac says the U.S. is still on pace to see more than 3 million households receive some sort of foreclosure notice this year. That would set yet another record from last year's all-time high of 2.8 million.

Spokesman Rick Sharga says unemployment remains stubbornly high and there's likely to be one new foreclosure action for every 6 to 10 jobs that are lost.

That said, realtor Carol Greco of Long & Foster Realtors in the greater Washington area, says there are some tremendous opportunities out there for prospective home buyers.

She also foresees little movement in home values in either direction.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

Have information or an opinion about this story? Click here to contact the newsroom.

Copyright WRDW-TV News 12. All rights reserved. This material may not be republished without express written permission.

Mailing Address: P.O. Box 1212 Augusta, GA 30903 Main Telephone: (803) 278-1212 Newsroom: (803) 278-3111 Fax: (803) 442-4561
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 111526534 -
Gray Television, Inc.