Monthly Archives: April 2014

top ten II

In honor of the recent announcement of David Letterman’s retirement we have compiled our own top ten list. (minus the humor, sound effects and celebrity appearances).

And so….without further ado……. America’s Top Ten states for Foreclosures!

(Keep in mind that Nationally:  1 in every 1,058 housing units received a foreclosure filing)

No. 10: California: 1 in every 921 housing units received a foreclosure filing.

This is probably not a shock for those of us living in California. But the realization that there are states actually worse off than us may be a little eye-opening.

No. 9: Ohio: 1 in every 885 housing units received a foreclosure filing.

No. 8: South Carolina: 1 in every 850 housing units received a foreclosure filing.

No. 7: Delaware: 1 in every 818 housing units received a foreclosure filing.

No. 6: Connecticut: 1 in every 752 housing units received a foreclosure filing.

No. 5: New Jersey: 1 in every 619 housing units received a foreclosure filing.

No. 4: Illinois: 1 in every 603 housing units received a foreclosure filing.

No. 3: Maryland 1 in every 543 housing units received a foreclosure filing.

No. 2: Nevada: 1 in every 533 housing units received a foreclosure filing.

And currently, the number one state for foreclosures………..drum roll please.

No. 1 Florida: 1 in every 346 housing units received a foreclosure filing.

Interesting to be sure. Even though we keep hearing about a mortgage turn around, foreclosures are still happening in record numbers. So what about that number 10 state, California? How about a Top Ten list for counties in California? Okay…you asked for it. So if you have recovered from the excitement of the previous top ten list, then here are the following numbers as of March 4, 2014. top ten

No. 10  Santa Clara:  1953 pending foreclosures as of 3/4/14.

No. 9  San Joaquin: 2091 pending foreclosures as of 3/4/14.

No. 8  Fresno:  2656 pending foreclosures as of 3/4/14.

No. 7  Kern:  3087 pending foreclosures as of 3/4/14.

No. 6  Orange:  5399 pending foreclosures as of 3/4/14.

No. 5  Sacramento:  5506 pending foreclosures as of 3/4/14.

No. 4  San Diego:  6149 pending foreclosures as of 3/4/14.

No. 3  San Bernardino:  9117 pending foreclosures as of 3/4/14.

No. 2  Riverside:  10,228 pending foreclosures as of 3/4/14.

And the number one county for foreclosures in California…………drum roll……..

No. 1  Los Angeles:  23,294 pending foreclosures as of 3/4/14.  Yikes !!

As of March 4, 2014, 8.56% of all homes in California were vacant!  Yikes again !!!

So what do all these numbers mean?  I don’t know. So many things affect so many other things in this industry. They call it the butterfly effect. “Does the flap of a butterfly’s wings in Brazil set off a tornado in Texas?” This is the also known as the Chaos Theory. And if anything is currently chaotic, it is the housing market.

It appears as though we still have a long way to go in the housing recovery. But it does appear as though the worst is behind us. So keep hangin’ on. Time heals all wounds. Maybe one day the word “equity” will return to our vernacular.

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