Top 10 List Means Great News for Investors

Realtor Magazine has released the list of the Top 10 Foreclosure States during 2011, and although there are only a couple of surprises, perhaps the most interesting take on the list was from the blog SeattlePi.

I’m quoting here, “Nationwide, the numbers are actually encouraging. U.S. foreclosure filings dropped from 2.23 percent in 2010 to 1.4 percent in 2011.

I’m not really sure I’d call that news ‘encouraging’. 1.4 percent of the American public is over four million people. That’s a lot of people looking for places to rent.

For those who have already been educated in the proper methods of U.S. real estate acquisition the path continues. Buy, rent, and hold. That’s what we’re doing.

And where are most of these foreclosures? I’m glad you asked. Here’s the list:

Nevada: 6 percent (1 in 16 housing units received at least one foreclosure filing in 2011)

  1. Arizona 4.14 percent (or 1 in 24)
  2. California: 3.19 percent (or 1 in 31)
  3. Georgia 2.71 percent (or 1 in 37)
  4. Utah 2.32 percent (or 1 in 43)
  5. Michigan 2.21 percent
  6. Florida 2.06 percent
  7. Illinois 1.95 percent
  8. Colorado 1.78 percent
  9. Idaho 1.77 percent
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