As with all areas of the North East, this area is rich in history. It has been steeped in the revolutionary war and has seen its share of good times and bad. The people that live here love it for its proximity to the nation’s capitol and Atlantic City’s entertainment and the ease of getting the Big Apple of New York City.

The area has felt the countries current foreclosure problems and has its share of foreclosed properties. But as a whole, the unemployment rate has stayed low and as a result people have been able to maintain mortgage payments, at least for now, and keep the property they own from falling prey to the foreclosure crisis that is gripping the nation.

The most recent numbers show Delaware at 0.110 percent foreclosure rate in the month of December, which is in the lower portion of the middle of the pack. While this is not the best news in the world it certainly gives the area a better out look than other parts of the country; which are in or fast approaching triple digit foreclosure rates for the year.

There is no reason to believe that the foreclosure rate is going to accelerate drastically in Delaware, though an increase is expected, it is predicted to remain at a lower percentile than a lot of the country. This is certainly good news for the people living in this state.

Delaware foreclosures will continue to creep up along with the rest of the country as we endure the worst real estate crash in recent memory. There are properties there in foreclosure and there will continue ot be more but it is not expected to hit the epidemic proportions that have been forecast to engulf the rest of the United States before the market snaps back.

foreclosures. The national foreclosure rate in that month sat at 0.240 percentage points. The state of New Mexico actually faired considerably better than that average with a total of 366 new properties hitting the foreclosed property listing leaving them at a fairly respectable 0.043 percent, about one sixth lower than the average for the country.

Granted, this is still a lot higher than the same number in years before. But it is good considering neighboring Arizona suffered nearly sixteen thousand new properties entering foreclosure in the same month.

By and large the state of New Mexico is largely unindustrialized and a lot of the business there is tourist related and most businesses in the smaller towns have been there for many years and are fairly secure so the majority of problems in foreclosure acme from the larger cities where people in mass retail were having trouble making it as the economy began to slide and once the bottom dropped out, there was truly no saving the lives and the property of some of these folks.

The New Mexico foreclosures here have been steadily increasing over the last few months and for the most part, it is expected that the numbers will continue to increase fairly steadily as the crisis continues. The experts predict that there will be spikes here and there when businesses fold and go bankrupt but by and large the numbers will simply gradually increase here.

Most of the foreclosed property in the state of New Mexico, in fact well over ninety percent of it as listed today appear to be very recent if not new construction and the majority of it is going for a rather low price in comparison with comps around the country.