There "Absolutely" no End in Sight!

foreclosures are gaining Speed!
 
In the month of January filings were up 57%! ????    Unbelievable 
 
That is an 8% increase from the month of December
 
Ok Active Rainers!  Which state is the winner of the highest rate of Foreclosure ..........
 
 
 
 
 
Nevada!                               
 
 
 
with
 
 
California and Florida a Very close Second and Third Respectively
 
 
Never fret Californians you had over 57,000 filing in January ( an all time record)!
 
With all this happening to our economy month in month out, Industry says there is a slow down coming around the corner. All due to last years growth of filings were at 19% and here we are with a measly 8% this year.
 
But hey the year is still relatively New.
 
 
 Here's what i want:
 
A reality check! 
 
If you work in the Pre-forclosure industry I want you to voice what's really happening in your individual state. I never trust what the "Industry" says so i'd love to hear what going on in your community, city and states.
 
GIVE ME YOUR REALITY.....                                                                                    
 

10 Comments on There "Absolutely" no End in Sight!

57,000 and that is 2nd? That is an amazing number and no wonder they are having problems with everything from sales to rentals in California. How many more does Nevada have if they are in the number 1 position?

 

02/28/2008 11:33 AM by Todd Clark (Realtor), GRI (Washington Co, Beaverton, Oregon) (Kastings & Associates, Oregon)


Hi Todd,

57K was the number of foreclosure filings in the state (the most ever for any state). The 1st place ranking deals with the highest percentage of  actual foreclosures vs filings. Filings may not result in actual foreclosures. These could be resolved by catching the mortgages up, short sales, forbearances, etc... Hope this clears that up a bit?

02/28/2008 04:32 PM by Klarque Garrison, "Mr. Short Sale" (Taylor 1 INC)


#2 here, Califorina.  The local paper reads that 31% of local listings are forclosures or short sales.  The funny thing is there really doesn't seem to be that many places on the market in Fullerton, CA (compared to last year).  The good ones that are priced right seem to move so I am really not sure!

02/29/2008 12:12 AM by Cristal Drake - Fullerton Area Realtor (Re/Max North Orange County)


Thanks Cristal for the insight. I'm sure there are areas in every state that are not as effected as others.

02/29/2008 12:30 AM by Klarque Garrison, "Mr. Short Sale" (Taylor 1 INC)


Philadelphia is in the 'middle', but sales are happening. As long as your credit is okay.

And sellers are good. As long as the house is priced right.

Probably what a lot of the country is going through. 

02/29/2008 11:27 PM by Tara Colquitt, Consumer Credit Advocate (The Credit Depot)


Florida has managed to stay in the top 5 for the last several quarters - I work almost exclusively in short sales & foreclosures using a direct mail campaign for lead generation.  My mailing costs have nearly doubled - that speaks volumes to me.

03/02/2008 05:15 PM by Wendy Smith Real Estate


I just did some research in our MLS for actives.  13754 residential properties are for sale in the greater Sacramento region, 6027 are either a short sale, REO, or foreclosure pending....roughly 44% of the market!  Crazy!

03/05/2008 04:48 PM by Jason Grams (GreatWest GMAC Real Estate)


yes your absolutely right Wendy, Our company does a lot of business in Florida! It's a nightmare in that state.

03/05/2008 07:42 PM by Klarque Garrison, "Mr. Short Sale" (Taylor 1 INC)


Crazy numbers indeed Jason. California has a serious problem on their hands

03/05/2008 07:46 PM by Klarque Garrison, "Mr. Short Sale" (Taylor 1 INC)


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