What is The Foreclosure Rate in Your State?

Have you ever wondered what the unemployment or foreclosure rate is in your or another state?

CNN has an excellent interactive map that shows these rates for each state.

Of course this is also a good way to see why home prices have declined so much in some areas, and why other areas are much more stable.

With a little common sense or research we can usually figure out why one state has a very low foreclosure rate while another has a very high rate.

We know for example that in Michigan jobs have been lost at an alarming rate since that is where so many auto companies are, Florida had a massive number of people buying vacation and homes as an investment, and of course many states had massive increases of values during the high times, while some states did not share in the large increases and therefore are not seeing the large losses in value which of course has made their market much more stable.

It is very interesting to see how states such as Florida have an 18.81% foreclosure rate, while a state such as North Dakota's is only 2.36%. Likely North Dakota did not see large increases of values and also did not see the investor and vacation home purchases during the high times as Florida did.

Are you thinking of buying a home in the Tampa area, whether a foreclosure, short sale or normal sale? Now you can search for homes just like a Realtor does with your free Listingbook account. Listingbook allows you to change your search criteria anytime and sends you one daily report with new listings or any price changes.

For any assistance or for questions feel free to contact me at 813-469-3163 or Jeff@MakeTampaYourHome.com.