Need help sorting through this in my mind
I am tossing around questions in my mind about why foreclosures tend to be lumped together in certain areas of town. I guess these areas could be considered "hot spots" for foreclosure. Of course there are some simple explanations for this having to do with areas that first time buyers aspire to move to and they stretch themselves to get there. But it seems to go further than that. In my experience, even within certain hot spot towns, there are hot spot streets.
Anyone have any theories as to why these hot spots show up? I don't chase preforeclosures because the competition is too high right now, but some passive marketing in these hot spot areas could turn up something worthwhile.