Mobile Foreclosures – Headlines and News
Mobile, Alabama is one of the state’s most prominent cities. The city is located in south-western Alabama and it is the seat of Mobile County. It serves as a port of entry way on Mobile Bay just at the opening of the Mobile, Alabama River. The river is the only seaport in the area and one of the busiest in the US. There is plenty of opportunity here for those looking to move to the area. The Mobile foreclosures list is the place to look.
Living in Mobile, Alabama gives people that French flavour with that old Southern style of living. The area is well known for its old houses and gardens, which are richly decorated with amazing wrought-iron works. The Spring Hill College built in 1830 still exists and there is a Technical College and the University of Mobile here, which was built in 1961.
There is also the University of South Alabama, which was built in 1963 and a community college. The tourist attractions are at Fort Condè, the Romanesque Cathedral, the Museum, and so forth. The USS Alabama an old battleship is anchored in the harbour. The Mardi Gras and Azalea Trail Festivities take place here. What a great place to look for Mobile foreclosures for sale.
Mobile has lots of foreclosed property. The census reported that in 2000 over 4,447,100 people lived in the area and that number has increased since. Globally, foreclosure filings including default notices, auction sales notices, bank repossession lists escalated to over 274 thousand this past month. This is a 10% decrease from last month, but it is still 18% more.
According to the online Business Journal, home sales are up to 5.1 percent. The increase occurred in February and more than 40% of sales were foreclosed property. Some of the properties were in default, which were sold below the mortgage balance owed on the property.
According to the Journal, home sales increased to 1% to 1.04 in February. Yet, the Journal says this was lower than it was one year ago. The national sales mostly were at the lower price ladder, since expensive homes were selling too. Thus, median prices are continuing to drop in Mobile foreclosures. The total number of Mobile foreclosures recorded in the first quarter of 2009 is 69 and the median sales price during this period is $132,000. This is one of the reasons why is a Mobile foreclosures great investment.