Foreclosures

Foreclosure-related filings topped 300,000 last month, bringing the 12-month total to somewhere near 1.4 million nationwide. Some states, of course, are more foreclosure-heavy than others. According to RealtyTrac, the state of Nevada keeps its title as Foreclosure Central with a foreclosure rate 4 times the national average. Arizona, California and Florida aren't far behind.

Clearly, some states are more foreclosure-heavy than others. And always have been.

As reported by RealtyTrac.com, the Buckeye State is the only state among the Top 10 in 2009 Foreclosure Activity to post fewer filings versus 2008. It's a nice boost for a state that's been beaten down by high unemployment and the New York Jets. Foreclosures are slowing statewide, helping both home values and homeowner morale.

Foreclosure activity in most the nation's largest states dropped last month, buoying the national average lower despite 30 states faring worse than the national average. Total foreclosure activity nationwide slipped for the 4th straight month. Versus October, activity is down 8 percent. A reduction in foreclosure activity is big news for housing, but the big-ger news is buried in the stats.

Overall, this month's foreclosure report is another positive signal in the housing market. Recovery is underway.

For homebuyers looking at foreclosed homes, though, the window for "a deal" may be closing. Since foreclosures became "big business" toward the end of 2008, real estate firms found ways to make buying a foreclosed home faster and cheaper.

It's no surprise that distressed properties now account for nearly 1/3 of home resales.

The severity of the "Foreclosure Crisis" depends on where you live, it seems. According to the RealtyTrac.com Q3 foreclosure report, Foreclosures Per Household skews heavy towards just a few states. Nevada leads the nation with 1 foreclosure per 23 households. Its rate is six times the national average of 1 foreclosure per 136 households. Arizona, California, and Florida are a distant 2, 3 and 4, respectively.

According to the August RealtyTrac.com foreclosure report, the severity of the "Foreclosure Crisis" depends on where you live. Foreclosures Per Household are highly skewed towards just a few states. The data is so lop-sided, in fact, that 41 states fall below the national average. For shoppers of foreclosed homes, the RealtyTrac data is a true buyer's guide to Where To Find Distressed Homes.

According to RealtyTrac, for the manyth consecutive month, foreclosures are concentrating across just a few states. The data is skewed so badly that 44 states fall below the national average. That's saying something.

Setting aside the personal pain foreclosures can cause, the massive mortgage default numbers have a silver lining. Both first-time home buyers and opportunistic real estate investors can now buy foreclosed homes at relatively low prices and finance them at attractive mortgage rates. Meanwhile, Foreclosure search engines are rarely free but often come with "trial periods".

According to data from its May 2009 foreclosure trends report, foreclosure-tracker RealtyTrac showed that more than 50 percent of the country's foreclosure last month were concentrated across just 3 states: California, Florida, Nevada. On a population basis, these 3 states represent 19 percent of...

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