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Delaware Foreclosure Buyers Guide and How to Save Your Home from Foreclosure.

Foreclosure Buying Information

Regardless of the county of the state of Delaware or "The First State" just one of its many nicknames, the state is made up of only three counties and none of the three have been immune to the travesty of foreclosures that have ravaged the state. Delaware is the second smallest state in the United States. The only state with less land mass is Rhode Island.

This is important because small populations are generally more vulnerable to upsets in the local economy and Real Estate is the very definition of "local economy". New Castle, Kent and Sussex, the three counties that make up the entire state of Delaware have all seen a dramatic increase in the number of foreclosures. This rise in foreclosures is that much more surprising as the unemployment in Delaware is remarkably low compared to the national average.

From Dover to Newark, Seaford to Willington, unemployment in Delaware is 8.4% compared to the national average of 9.7% while household incomes are ranked nationally as the 12th highest with the average worker receiving a weekly check of $937 which gives personal income the ranking of 7th nationally.

Particularly hot foreclosure markets in Delaware are Greenville, Henlopen Acres, South Bethany, Dewey Beach, Fenwick Island, Bethany Beach and Rehoboth Beach as these cities have large population pools and are considered very desirable by the citizens of the state.

Delaware relies on a small number of very large establishments for it $49 Billion annual GDP. Namely Du Pont, Purdue Farms, a collection of banking and healthcare institutions and the USAF stationed at Dover Air Force Base which is the single largest Air Force Base in the country.

The total population of Delaware is fewer than a million people yet the population density ranks 6th highest nationally. What can be gleaned from these statistics is that Delaware is remarkably stable and growing more so as the population increases by a steady 1% per year. The industries that support Delaware are known for nothing if not bedrocks to the nation's economy and therefore investments in real estate or foreclosure real estate more specifically is more secure than in nearly any other state even though Delaware is such as small state geographically. This lack of size and scope should in fact work to the advantage of the real estate purchaser as the ease of physically getting from one foreclosure to the next is made all the easier as there is less space between each holding.

Over 50% of all US publicly traded companies are incorporated in Delaware and 60% of all fortune 500 companies are the state which makes Delaware the highest ranked tax haven in the world. All the numbers and statistics lead to one conclusion, for real estate purchases and buying foreclosures Delaware is a safe and secure state to invest ones money. In fact it may be the best bet of all the states in America.

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