After news that the IMF is proclaiming a global slowdown in the economy and a recession in the US in part due to the sub-prime mortgage crisis, we saw it fitting to provide a resources to track foreclosures in your area which can be helpful for investors and a warning for those looking to sell or who are in trouble.
One of our favorite business sites, Techcrunch, profiled a real estate site called HotPads that tracks foreclosures by a color coded map. This is a Google map mashup using data from RealtyTrac with red (hot) indicating a higher rate per capita of foreclosures and blue being lower. There are maps available by county and state.
What is helpful is being able to track the trends of foreclosure rates in different markets by comparing historical data among multiple areas. These maps should provide a great indicator of where your neighborhood is headed and how bad or good your market situation is when planning on selling your home.
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