Foreclosures Drops to 3-Year Lows- New information released show the foreclosure crisis is easing: Foreclosure notices filed during the first three months of 2011 dropped 27% compared with the first quarter of 2010. There has been 215,046 borrowers that lost their homes, that marks a 17 percent decrease year-over-year.

However, while the improvement may be encouraging, experts warn that the decrease in foreclosure activity is likely temporary.

For Asheville Real Estate I feel the weak demand, declining home prices, and the lack of credit availability are weighing heavily on the market, which is still facing the dual threat of a looming shadow inventory of distressed properties and the probability that foreclosure activity will begin to increase again as lenders and servicers gradually work their way through the backlog of thousands of foreclosures that have been delayed due to improperly processed paperwork and this will continue to be a strong Buyers market in Asheville especially for investors.