Understanding Davenport Foreclosures

Davenport is the third largest city in the Iowa state and is the county seat of Scott County, Iowa. The year started well for Iowa foreclosures but in Davenport, the scene is a little different. In the month of June, Iowa foreclosure activity had gone down by 6 percent with the state reporting 425 foreclosed properties. On a year on year basis, this figure was down 7 percent from 2007. Scott County recorded 54 foreclosure filings and ranked second amongst the counties with the highest foreclosure rate in Iowa. Polk County led with 93 filings.

The Iowa foreclosure figures for July 2008 were up 17.18 percent when compared to those of July and down 19.81 percent when compared to July last year. This has placed the state of Iowa at 42nd rank among all US States. The rate of foreclosures in Iowa ranged from 1 in every 798 household to 1 in every 13, 619 household. The median home price in Iowa has been $138,448.

In July, Scott County reported 60 foreclosures in July with Davenport foreclosures contributing the highest number of foreclosure filings – 50. Therefore, the Davenport foreclosure figures helped Scott County stay in the top range of foreclosures which was 1 in every 798 household.

Davenport foreclosures have allowed many prospective home buyers to become homeowners. You can find various foreclosure listings of Davenport houses on the Internet as well. You can research the trends, market and even read reviews from buyers in order to make an informed decision. However, before making a final decision be sure to read the fine print and of course going through a reliable agent and working with a reputed lawyer always helps!