Top 10 states for foreclosures

10 States Still Battling High Foreclosure Rates

DAILY REAL ESTATE NEWS | MONDAY, AUGUST 13, 2012

Several states continue to be plagued with high foreclosure rates. RealtyTrac reported last week that foreclosure starts rose 6 percent year-over-year, which is the third consecutive month for increases following what had been more than a year of declines. 

California has the highest foreclosure rate in the country, according to RealtyTrac, with one in every 325 housing units receiving a foreclosure filing in July (more than twice the national average). California had the highest foreclosure rate in the country despite an 11 percent decline month-over-month and a 25 percent drop year-over-year, according to RealtyTrac.  

The states with the highest foreclosure rates in JulyRealtyTrac’s most recent data--are:

1. California: 1 in every 325 housing units
2. Arizona: 1 in every 346 housing units
3. Florida: 1 in every 352 housing units 
4. Georgia: 1 in every 376 housing units
5. Illinois: 1 in every 385 housing units
6. Nevada: 1 in every 415 housing units
7. Michigan: 1 in every 518 housing units
8. Ohio: 1 in every 528 housing units
9. South Carolina: 1 in every 536 housing units
10. Indiana: 1 in every 665 housing units

Which Way Are Homes Prices Headed?

Once and For All, Which Way Are Home Prices Headed?

by THE KCM CREW on AUGUST 14, 2012 ·

One could get dizzy looking at the daily headlines pertaining to home prices. One report says prices are heading up and the next day, another says they are still falling. Here are two recent examples:

National Association of Realtors Chief Economist Lawrence Yun addressed the issue at the National Association of Real Estate Editors conference in Denver:

“This time next year, there could be a 10% price appreciation. I would not be surprised to see that.”

At the same time, Gary Schilling, president of A. Gary Shilling & Co., has been very outspoken about his belief that prices will continue to fall:

“Excess inventories are the mortal enemy of prices…I’m looking for another 20% decline and that is what it would take to bring them back to the long-term averages.”

The vast difference in what two experts believe causes confusion for both buyers and sellers. This uncertainty can create doubt as to whether or not they should act now. It is the real estate professional’s job to create clarity when it comes to future home prices. But how?

You must take into consideration three things in order to help determine where prices are headed:

1. The months’ supply of visible inventory (homes currently on the market

2. The months’ supply of shadow inventory (distressed properties about to enter the market)

3. What the majority of housing experts project for home prices going forward

And each market is different.