Rosemary,

Wow -- that's some pretty extensive information provided and pretty much beats anything I've seen posted thus far on the subject. Nice work!

Rosemary,

You've done a great job assimilating this article - lots of really good information.  Thanks for this resource, I'm going to bookmark it - I know you are in the #1 market, but look out because #4 is not that far behind!

Now Have a Blessed Day,

John Occhi, Hemet CA REALTOR®
Mission Grove Realty

Thanks John for dropping by and commenting.  This is a love hate situation because for every foreclosure there are xxxx number of people lives that it changes - maybe forever.  I'd like to see what the number of people that are still in denial are.  I bet it is almost as high.

Rosemary, Thanks for the the links to your post on forclosures. I will bookmark and read them later.

Glad to see our rank here in Atlanta dropping - still way to many on the market. Sad to see my old home town of Detroit near the top - times are very bad in Michigan.

Gita- you're welcome and I hope that I've posted some information that you can use.  If not, search under short sale and there are several other excellent posts you can use as reference.  It never hurts to have as much information as you can find - as long as it is all similar.

Tom - Georgia foreclosures did decrease on year over year basis.  However, the state is the 3rd highest nationwide.  Michigan is #4 nationwide.  It is pretty bad all over.

There were over 430,000 foreclosure fillings including default notices, auction sales notices and bank reps during the first quarter of 2007. Up to 27% from precious quarter and up 35% from 2006 1st quarter.

Great post, That's some good information. I'd say its the golden age of Foreclosures.

Very Interesting!  I'm surprised about Las Vegas... but not Detroit

Good to know!

Alan - I think you are right on it. Unfortunately, but true. Thanks for dropping by.

I just spoke with a homeowner today about listing his home. He was despondent. The notice of default had been filed and his home had been on the market for a year already.......I told him I could contact the mortgage company, get some information together and try - there was still some time left. I offered to view his home and help him get it ready for showings, but he said he didn't care anymore and what was the use......I am going to follow up with a letter and see if he will reconsider. He says he doesn't care, but I could hear the pain......

I'd still get the information, and get it to him. Sometimes people need that extra help to see what is right there. I have had short sales that failed but I did not give up and now have one that is ready to close with that 5th offer! The times are dictating the approvals and if you keep the property on the market for property history for the lender to view to see the effort, show the number of agent hits vs showings and comments made about the property, the comparable (showing the exceptions - such as other properties have upgrades or are in better shape). show the price reductions and any other information that is going on with the property it will help the lender approve. By putting the listing on all the online advertising, sending out email to brokers, doing a broker's tour (caravan) it is called here and pushing open houses, doing reverse prospecting, etc. You will get some action. Take to the owner, maybe tell him you'll have a mortgage professional talk to him to see if he fit into the plans to help, if not, aggressive listing marketing is the best solution. I wish you best of luck and if there is anything I can do, advice or whatever, please let me know... lol

Paul, thank you for your uplifting comment and I am so glad the information is valuable to help understand the short sale process.  Happy New Year.

Dana, I am looking for the updated information on how the different areas are rated today.  I think the ranked cities have changed a little probably not much.