"If you get a lot of foreclosures in one neighborhood, it may adversely affect values, meaning homeowners might not be able to refinance as well," Steele said.

Misconceptions

Some people think they can pick up inexpensive property at sheriff sales.

For better or for worse, they're wrong.

Residents rarely buy homes at a sheriff sale, Snyder County Sheriff Joseph Reigle said.

"Ninety to 95 percent of all purchases at sheriff's sales are by banks," he said.

Banks have a vested financial interest in cutting their losses. And when it comes to foreclosures, that means buying back the property and reintroducing it to the market.

"They don't really want to buy it at a sheriff's sale," Reigle said. "They want somebody else to buy it. They just want their money back."

In other words, don't expect to bid $10,000 on a $100,000 home and get the house.

"If your bid is too low, banks will outbid you," Reigle said. "People see these things on TV that you can buy foreclosed properties, but it just doesn't happen. That's not the real world. The mortgage lenders are going to do what they need to do to protect their investment."

Another misconception people have about foreclosures is that families burrow into the home until law enforcement digs them out.

That just isn't true, Reigle said.

In his more than 15 years with the county, Reigle said he's had to physically remove someone from a foreclosed home only twice.

"Most people are pretty cooperative with these things," he said. "They understand. They didn't pay, so they can't stay there."

n E-mail comments to dgessel@dailyitem.com.