Wyoming is, alphabetically speaking, the last state in the United States of America. It is a great state with lots of open spaces, ranges and the Grand Teton Mountains and of course, Yellowstone National Park.
While the other states around Wyoming are at 4, 5 and 6 percent unemployment and some of them are running as high as 0.260 percent foreclosure rates – which are above the national average. The state of Wyoming has managed to be at 3.2 percent unemployment, which is lower than any neighboring state and only 0.033 percent foreclosure rate.
There are not a lot of people here and there are not a lot of super large cities either, so while a good amount of what foreclosures you find will be around those cities, there is plenty of property in the less populated areas of the state.
While the foreclosure rate has increased in the last two years and went up starting in late summer, it is again on the decline and has overall held fairly steady regardless of the current foreclosure issues facing the country.
The economists agree that the state will most likely go down a little in the beginning of the year 2009 and then come back up. Basically the same trend it has had for the last year so they really do not expect any significant change in the foreclosure patterns here in the future.
The foreclosure market here is presenting a fairly diverse cross section of property in type of property, location of property and price of property. And the overall costs of the foreclosures and the taxation rates on the real estate will, for the most part, make Wyoming a great place to consider purchasing since there is so much and so wide a grouping of property and the resale probability is good here.
