Reporting on the most-recent numbers released by RealtyTrac, the Reno Gazette-Journal reports that Nevada has now returned to the top spot in foreclosure-related activity across the nation. Nearly a year has passed since Nevada held the top spot. See the RGJ story here: Nevada returns to foreclosure top spot
What are the top five states for foreclosure-related activity?
- Nevada 1 in every 306 homes
- Florida 1 in every 317 homes
- Illinois 1 in every 441 homes
- Ohio 1 in every 477 homes
- Maryland 1 in every 630 homes
source: RealtyTrac
source: RealtyTrac
Sully
Great timing. When you scroll down a bit and see the new state brand and the map with Nevada standing out in dark blue – really points out the ‘new brand’ 🙂
Chris
Guy, I’m not sure what to make of foreclosure stats here. I’m used to seeing 3/4 of the inventory listed for Reno on sites as pending short sales which is different than I see in CA where they don’t even hit the MLS but are bought at auction or “back-door” purchases with the banks’ REO inventory for cash.
What I hope for by 2014 is a rise in interest rates, for major investment groups to start looking elsewhere to dump cash, and for the release of more inventory. Some signs point to being near the top of this “mini-bubble” and I think the banks know this and will begin unloading more properties in earnest. If prices keep rising, eventually organic sales will also begin to come back which also might force them to start dumping.
What is hard to find is multi-unit (3-4) properties at a decent price. The competition for rentals is fierce. Eventually I think I can find a SFH for cash that is affordable, but the timing is all wrong right now.