CITIES HIT HARDEST BY FORECLOSURE

By
Real Estate Agent with Howard Hanna Real Estate Services

RealtyTrac's 2009 foreclosure stats are in and cities in California, Nevada, Arizona and Florida account for the top 20 foreclosure rates in the U.S.

CITIES HIT HARDEST BY FORECLOSURE

The worst hit city is Las Vegas with one in every twelve households being foreclosed upon last year. Cape Coral, Florida is in a very close second place position. The catalyst for most of the foreclosures was lender products such as toxic ARMS. RealtyTrac adds, however, that foreclosure filings actually decreased in these top 20-cities in the last three months of 2009.

The bad news is that the foreclosure epidemic is now spreading to places other than Sun Belt states such as Rockford, Illinois, Provo, Utah, Fayettville, Arkansas and numerous other venues ... and the culprit here is not so much questionable mortgage products as it is unemployment.

For more on this story: http://www.cnbc.com/id/35055884

FIND A HOME: http://markostrovsky.com

Posted by

Mark & Elly Ostrovsky

Howard Hanna Smythe Cramer

Cellular: 216.577.1156

EMail: EllyandMark@GMail.Com

Website: http://MarkOstrovsky.Com

 

Mark is a licensed attorney in Ohio & in Massachusetts and works with his wife Elly in residential real estate representing buyers and sellers in Cleveland, Ohio's Eastern suburbs. You can search for homes on their website:

FIND A HOME: http://markostrovsky.com/

 

 

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Rainer
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Mark L. Ostrovsky
Howard Hanna Real Estate Services - Beachwood, OH
Howard Hanna Real Estate Services

Sean, this is most definitely the new reality with which we agents and, sadly, with which many homeowners are confronted. The only thing we can do as Realtors is adapt and help our clients get out from under. Stay well.

Jan 28, 2010 09:18 AM #2
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Rainer
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Mark L. Ostrovsky

Howard Hanna Real Estate Services
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