Real estate foreclosures, Miami foreclosures

Real Foreclosures increased 270% from 2006 to 2007 and 81% from 2007 to 2008. In spite of recent government attempts, real estate foreclosures are still at a whole time high. 2.3 millions Homes were in foreclosure last year. 1 out of 54 American homes are in the foreclosure process; it is of course a tragedy for trapped households and creates a unique opportunity for buyers. Buyers in our Miami Beach real estate market can get foreclosed properties for 20% of the official assessed value. On a quarterly basis the number of foreclosures has decreased by 4%, which is the only positive news for the Miami Beach real estate market. Nevada, Florida and Arizona had the highest foreclosure rates in the US, where vultures buyers started to grab some incredible real estate opportunities.