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Foreclosure flood spreads beyond hardest hit markets - www.4Malibu.com

By
Real Estate Broker/Owner with 4 Malibu Real Estate Lic# 01457517

Metro areas with the 10 highest foreclosure rates saw filings decrease in 2010, but for nearly everywhere else activity was on the rise, according to RealtyTrac, which tracked activity in 206 cities across the country.

For the year, more than 2.8 million properties in the U.S. received at least one foreclosure filing from notice of default to repossession. While the hardest hit areas - 19 of the top 20 in California, Florida, Nevada and Arizona - saw filings drop, 149 of the metro areas studied saw activity actually increase from 2009.

RealtyTrac CEO James Saccacio said widespread unemployment has pushed foreclosures in areas previously insulated from the "initial foreclosure tsunami."

Las Vegas continues to hold the nation's highest foreclosure rate. In 2010, one in every nine housing units received a foreclosure filing, nearly five times the national average.

Bryan Cerny
Rose & Womble Realty - Chesapeake, VA

When Las Vegas and some of these hard hit areas of foreclosures finally turn, the national sentiment will change.  It is good you are specific...we hear too much about foreclosures as if the whole country is drowning in them.  Good work

Jan 27, 2011 09:59 AM
Bobby LehmKuhl
4 Malibu Real Estate - Malibu, CA
Exceeding Every Clients Expectations. Every Time.

Bryan, thank you for the comment. You are so right when we hear about foreclosures. There are still areas that are strong and gaining value...

Jan 27, 2011 10:13 AM