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Archive for April, 2011
West Los Angeles Still not a foreclosure haven: Probably Will Never Be!
While there are numerous shortpay transactions taking place on the Westside of Los Angeles the below report from MSN supports the areas with the most foreclosures.
Foreclosure rates: 20 cities with highest filings and state-by-state rankings
The highest foreclosure rates are primarily in cities where the proceedings don’t move through the courts.
By Melinda Fulmer of MSN Real Estate
In the first quarter of 2011, all but one of the 20 highest foreclosure rate metros — Cape Coral-Fort Myers, Fla. — were in “nonjudicial” states where foreclosure proceedings don’t move through the courts. Foreclosures in these states are moving more rapidly.
California cities accounted for 11 of the 20 highest foreclosure rates. But Las Vegas retained its top spot in the quarter as the market where the most buyers who gambled on a home stood to lose.
Here are the cities with the highest rates, followed by state-by-state rankings:
20 cities with highest foreclosure rates, 2011 first quarter
| Rank | Metro | Total # of filings | % Housing units | 1/every # of households | % change from Q4 2010 | % change from Q1 2010 |
| 1 | Las Vegas-Paradise, NV | 26,275 | 3.21 | 31 | -11.54 | -7.74 |
| 2 | Modesto, CA | 3,809 | 2.17 | 46 | -9.52 | -25.87 |
| 3 | Stockton, CA | 4,821 | 2.11 | 47 | -7.2 | -23.8 |
| 4 | Phoenix-Mesa-Scottsdale, AZ | 36,422 | 2.1 | 48 | 14.16 | -19.42 |
| 5 | Vallejo-Fairfield, CA | 3,111 | 2.06 | 48 | -5.53 | -14.11 |
| 6 | Riverside-San Bernardino-Ontario, CA | 29,859 | 2.04 | 49 | -6.84 | -27.17 |
| 7 | Merced, CA | 1,605 | 1.91 | 52 | -11.18 | -30.43 |
| 8 | Reno-Sparks, NV | 3,369 | 1.84 | 54 | -5.66 | -10.78 |
| 9 | Bakersfield, CA | 4,729 | 1.72 | 58 | -17.35 | -25.45 |
| 10 | Fresno, CA | 4,986 | 1.61 | 62 | 5.21 | -7.51 |
| 11 | Sacramento-Arden-Arcade-Roseville, CA | 13,606 | 1.59 | 63 | -10.94 | -21.98 |
| 12 | Visalia-Porterville, CA | 2,091 | 1.5 | 67 | -7.93 | -14.69 |
| 13 | Boise City-Nampa, ID | 3,458 | 1.42 | 70 | 3.01 | -10.58 |
| 14 | Prescott, AZ | 1,456 | 1.36 | 73 | 25.41 | -9.79 |
| 15 | Atlanta-Sandy Springs-Marietta, GA | 27,250 | 1.26 | 79 | -4.13 | -6.48 |
| 16 | Salt Lake City, UT | 4,907 | 1.22 | 82 | -0.45 | -4.81 |
| 17 | Oxnard-Thousand Oaks-Ventura, CA | 3,340 | 1.22 | 82 | -9.44 | -15.06 |
| 18 | Cape Coral-Fort Myers, FL | 4,248 | 1.16 | 86 | -34.48 | -58.74 |
| 19 | Salinas, CA | 1,616 | 1.15 | 87 | 2.34 | -31.93 |
| 20 | Detroit-Warren-Livonia, MI | 21,192 | 1.12 | 90 | -9.58 | -25.31 |
Chart data provided by RealtyTrac
Foreclosure filings by state, 2011 first quarter
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