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Old 07-31-2010, 09:24 AM
 
74 posts, read 116,412 times
Reputation: 39

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Thursday, July 29, 2010 - 00:01
RealtyTrac: 75% US Metro Areas Post Rising Foreclsrs 1H'10
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WASHINGTON (MNI) - The following are details from RealtyTrac's 2010 mid-year report on foreclosure activity in U.S. metropolitan areas released Thursday:

RealtyTrac (Foreclosure Real Estate Listings | RealtyTrac), the leading online marketplace for foreclosure properties, today released its Midyear 2010 Metropolitan Foreclosure Market Report, which shows 154 of the 206 U.S. metropolitan areas with a population of 200,000 or more posted year-over-year increases in foreclosure activity even while foreclosure activity decreased in nine of the 10 metros with the highest foreclosure rates.

Four states Florida, California, Nevada and Arizona accounted for all top 20 metro foreclosure rates. Florida led the way, with nine of the top 20 metro foreclosure rates, followed by California with eight, Nevada with two and Arizona with one.

source RealtyTrac: 75% US Metro Areas Post Rising Foreclsrs 1H'10 | iMarketNews.com (http://imarketnews.com/node/17214 - broken link)

Last edited by doggiebus; 07-31-2010 at 11:30 AM.. Reason: Posting full articles not allowed.
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Old 07-31-2010, 10:13 AM
 
8,289 posts, read 13,563,668 times
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Well the Miami metro may have had the most in total amounts of foreclosures but as a percentage basis it now ranks 10th. which is significantly lower than when it was in the top 5 just a few years ago.
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Old 07-31-2010, 11:32 AM
 
74 posts, read 116,412 times
Reputation: 39
Quote:
Originally Posted by MiamiRob View Post
Well the Miami metro may have had the most in total amounts of foreclosures but as a percentage basis it now ranks 10th. which is significantly lower than when it was in the top 5 just a few years ago.

That’s certainly an overly optimistic way to look at this. The placement on any given list is irrelevant to how many total units one area has over a given time.

Given the gov tax credit and record low interest rates in full effect doing this reports time line I would expect ever larger number next report when rates climb and gov Exhaust all their bogus interventions.
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Old 08-06-2010, 06:45 AM
 
Location: Hialeah, FL
55 posts, read 126,749 times
Reputation: 37
We haven't seen anything yet

I know so many people that are not paying their mortgage. This is far from over
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Old 08-06-2010, 07:41 AM
 
Location: America
6,993 posts, read 17,364,475 times
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Quote:
Originally Posted by MiamiRob View Post
Well the Miami metro may have had the most in total amounts of foreclosures but as a percentage basis it now ranks 10th. which is significantly lower than when it was in the top 5 just a few years ago.
Banks do not process foreclosures as soon as people stop paying. some people sit in their homes for years without paying. I know of a girl who's sister was living in their family home. She had not paid the mortgage in over 2 yrs and they just processed the foreclosure a month ago. This is all a shell game, the same with those optimistic house sale numbers places like the Miami Herald keeps putting out there. It would be nice to see a independent source do a analysis of those home sales. Specifically how many of them are actual people purchasing homes to live in as opposed to investors and court to bank sales (when a home goes into foreclosure the bank pays some nominal amount to the court for it and this is counted as a sale).
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