Foreclosed Condos In Las Vegas
May 28th, 2008
Foreclosed Condos In Las Vegas
The current foreclosure crisis continues unrestrained across the country. While a myriad of arguments and opinions can be put forth as to why the nation finds itself with an outrageous number of foreclosures, the fact still remains that there are a great deal of properties experiencing foreclosure filings across our nation. While this is a problem for many, it is also represents a favorable time for many real estate investors and homebuyers to obtain great deals on property. An awareness of the areas where foreclosure rates are high is one of the first courses of action when looking to invest in property.
According to Realty Trac, in the month of May 2009, the top three states contributing the most foreclosure filings were Nevada, California, and Florida. These three states alone contributed more than one half of the 321,000 foreclosure filings for the entire nation in the month of May.
In Nevada, 1 in every 64 homes faces foreclosure, making it the state with the greatest foreclosure ration in the nation. Clark and Lyon Counties are the largest contributors in Nevada including cities like Las Vegas, Henderson, Mesquite, Fernley, Yerington, Dayton, and Silver Springs.
California follows next in rank with a ratio of 1 in every 144 homes facing foreclosure. Major counties contributing to this ration comprise San Bernardino, Kern, Orange, Madera, and Merced. In these counties are cities such as San Bernardino, Ontario, Bakersfield, Ridgecrest, Santa Ana, Anaheim, Madera, and Merced.
Not lagging far behind California is Florida with a ratio of 1 in every 148 properties filing for foreclosure. Miami-Dade, Hillsborough, Duval, Collier, and Volusia Counties are main contributors holding cities like Boca Raton, Tampa, Naples, and DeLand.
A knowledge of where these areas of high foreclosure rates exist, provides a good foundation for a homebuyer or real estate investor in taking advantage of the astounding discounts that can be found when purchasing foreclosed property.
About the Author:
I live in Cache Valley Utah. Find more real estate information in Nevada, California, and Florida.
Article Source: ArticlesBase.com – What do California, Nevada, and Florida Share in Common?
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