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Feb 18

Washington State January Foreclosures Increase 24%

The bank-man comes with a vengence: Washington ranks #12 in the nation for the number of foreclosures. 

 

Nevada,  California, Arizona  have top 10 metro rates… Florida  drops

The Los Vegas-Paradise, Nevada metro area maintained the nation’s highest  January foreclosure rate among metropolitan areas with a population of more than 200,000: one in every 82 houses receiving a foreclosure filing.

Seven California metro areas posted foreclosure rates in the top 10:

  • Modesto, #2 with one in every 111 housing units receiving a foreclosure filing;
  • Stockton, #3 with 1:114;
  • Riverside-San Bernardino-Ontario, #4 with 1:120.

Florida cities did not show up in the top 20 metro foreclosure rates in January. In contrast, in 2010 the state accounted for nine of the top 20 metro foreclosure rates.

Washington has a total of 2523 REO properties

That’s bank-lingo for bank-owned-homes that lenders have on their books, do not want to have, and will price aggressively to sell.

Source:  Realty Trac

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