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Foreclosure Statistical Data

Have you seen this information on foreclosures?

50% of United States foreclosures in 2008 came from 35 counties in only 12 states.
20% of the United States' population lives in those 35 counties.

Eight counties in Arizona, California, Florida and Nevada were the source of 25% of foreclosures.
Existing home sales in the US rose to a seasonally adjusted annual rate of 4.7 million units in February, 2009, and only 860,000 homes were repossessed all of 2008.

If these things are correct and true, either 20% of the population controls the rest of the US, or the reporting is leading us to believe that they do.

Is the economy as bad in your town as the worst 35 counties? I know that the Texaplex is positive. Here on Cape Cod, we have thousands of jobs coming in from new development.

Heath Coker, Owner of Cape Group Real Estate
www.CapeGroup.com / capegroup@capegroup.com
508-548-8888 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup

REindex.com, The Site Engine®
508-495-1000 reindex@reindex.com
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Posted by Heath Coker, Real Estate Broker on 10/20/2009 01:47 PM

Comments (5)

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Originally posted at: Heath's Blog: Foreclosure Statistical Data

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5 Comments on Foreclosure Statistical Data

OCT

Glad to see you all are getting an influx of jobs. We're down here in Maryland so the proximity to DC has insulated us somewhat.

I'm here at ground zero...the one thing I never see in the reporting is the percentage of buyers who default that were not here legally...it's pretty high in this area

I know which county in Nevada you are talking about. It is Clark County which includes Las Vegas and Henderson. Interesting statistics.

Steve

Wish I were in your market! Unfortunately, I'm located in one of those "35 counties" overridden with foreclosures.

I am in Mesquite - in Clark County, NV, about 80 miles from Vegas. Tough economy and slow here, but: Our market is not even half as bad as the Las Vegas area, but we get calls and emails from people who think Mesquite is part of Vegas and want to buy at their low prices.

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