KANSAS CITY, Mo.-Homeowners facing foreclosures are not the only ones taking a hit.
The economy and neighbors are also feeling the pain.
According to Realty Trac, foreclosures in the metro are at an all-time high.
Kansas City in Jackson County is at the top of the list of the five metro cities with the most foreclosures.
Kansas City in Jackson County has 3,255 foreclosed homes.
Kansas City, Kansas is next with 2,690, followed by Independence with 729 and Olathe with 635 foreclosed homes.
Rounding-out the top five is Lee's Summit with 435 homes in foreclosure.
Chris Dowell, an agent with RE/MAX BEST in Overland Park, Kansas, said that some of the foreclosures could be avoided.
"In our market, in our area, we're finding about 40 percent of the people that we list their homes as a foreclosure have never tried to attempt to sell their homes before foreclosure," said Dowell.
Dowell suggests that people on the verge of foreclosure find out from a real estate agent if they can get a short sale, a forebearance or a loan modificatoin.
Qualifying homeowners will still loose their homes; but they will escape the credit-killing label of foreclosure.
Investors and homebuyers stand to gain with foreclosed homes.
Craig Summy, RE/MAX BEST agent in Overland Park, explains that banks set the price of foreclosed properties based on needed repairs.
"So homeowners who see a foreclosed home needing high-priced repairs should not expect the bank to lower the list price dramatically because the price already allows for necessary repairs," said Summy.
To find homes in foreclosure visit,
www.KansasCityEHomes.com.
For more information on foreclosures contact Chris Dowell and Craig Summy at RE/MAX BEST,
www.DowellTaggart.com.
