There Are 15 Responses So Far. »

1. 

   Comment by TC on 23 July 2007:

   I have reviewed the list above and it isn’t surprising. Especially Atlanta. I have lived in Atlanta years and I have seen the flux of contractors desend on 30310 (West END area) About 8 years ago you couldn’t drive through the West End area of Atlanta without running into a home flipper. There are several reasons why the forclouser rate is high: Purchasing homes for more then what they are worth and appraisers giving erroneous quotes for the price of the home. Example: Homes worth 120,000.00 , appraised for 285,000.00. Bank believes appraiser and approve the loan. First payment becomes due and the person who applied for the loan is no where to be found.
   Another reason: Contractors buy a house and only fix up the front of the house and not the inside. Take pictures send it to the insurance company and that are insured. Earlier this year a mortgage business was closed because they were doing fradulent loans in this area. Everyone was arrested from the Realestate agent to the loan officer. The lady said the home was worth more then what it was and the person who was doing the loan was suppose to get 35,000.00 at closing. The lawyer called the FBI and lets just say there was no closing.
   Last but not least banks and mortgage companies that are approached about a loan in the West end area requires 2 apprasils before the loan can be approved. One from the mortgage company and the buyer.
   This area has a RED flag alover it. Buyers beware.
2. 

   Comment by foreclosurefish on 26 July 2007:

   It’s really not a surprising list at all, Detroit’s houses are selling for less than used cars. California has been feeling the pain for a while now, too, along with the Las Vegas area. The rest of the info isn’t surprising, either, although very interesting.
3. 

   Comment by Ricardo Cobos on 9 August 2007:

   With exceptions given to Ohio & Michigan where job losses in the manufacturing sector has hit those area the hardest, the cities noted experienced the biggest booms in the history of the US housing markets in 2003, 2004 & 2005.

   With every boom comes a bust just as big as the boom was! Sadly, with every boom, comes deviants who want to create short cuts to making money, this hiwever exists in the human condition; greed. It is not exclusive to the real estate or mortgage industries.

   I have seen a used car salesman in my day that had a penchant for lying.

4. Pingback by BlogBurst Interview with Tom from The Real Estate Bloggers — The Real Estate Bloggers on 10 August 2007:

   [...] of my posts, Top Ten Worst Hit Zip Codes by Foreclosure, had about 5 million headline impressions on USA Today with 11,000 reads of the article and nearly [...]
5. 

   Comment by Stan Mikhalsky on 13 August 2007:

   Well, I pleased that not even 1 Miami area zip code in that list. However, considering how many foreclosures we have, this list is even more frightening.
6. 

   Comment by PARAM TOOR on 28 September 2007:

   like to see the stats Bllingham WA
7. 

   Comment by PARAM TOOR on 28 September 2007:

   like to see the stats Bllingham WA. for Fore clousers in Recriation Properties

8. Pingback by Blogburst - is it worth getting listed with them? - Bloggeries Blog Forum on 29 September 2007:

   [...] pick-up by Fox News, Reuters, Internet Broadcast Systems, Biospace and Cox-owned newspapers in OhioThe Real Estate Bloggers — more than 11,000 readers checked out the worst foreclosures by zip code postMichael Vick [...]
9. 

   Comment by fliprent on 29 February 2008:

   The subprime mess IMO is the biggest problem right now. I wrote an article about it here.

   I had first hand experience when a guy that purchased one of my houses was foreclosed on in less than a year.

10. Pingback by Housing Bubble and Income « MANSIZEDTARGET.COM on 2 April 2008:

    [...] they didn’t. And, in fact, income/housing price disparity is one of the great predictors of high foreclosure rates: If you are looking at the worst zip codes in the country for foreclosures, they all tend to share [...]
11. 

    Comment by Nick on 5 April 2008:

    Right now, foreclosures or no, it’s a GREAT time to b investing in real estate!

    Nick Cifonie
    Host: REI-TV
12. 

    Comment by harvey l melton on 3 May 2008:

    just curouis about the stats on ft.smith-ar.
13. 

    Comment by JerryB on 19 October 2008:

    This should be really no surprise to anyone. Should have seen it coming. IMHO – I would imagine the best fix would be to fire every politician in Washington and start fresh. But like all good things it would only last for awhile until they became corrupt as well. You can bet your last dollar that is where it all started….
14. 

    Comment by Short Sale on 24 November 2008:

    I am not surprised that Detroit is in the top 10, but I am surprised that multiple zip codes dominate the top 10. I would have to guess that Florida is really up high on that list as of 11/2008.
15. 

    Comment by Las Vegas Real Estate Agent on 2 April 2009:

    Interesting information and speculation concerning the median incomes for the zip code and their relationship.

    However.. for Las Vegas Real Estate and the zip code 89031, some of the hardest hit zip codes for Las Vegas are in areas of new construction where the new home builders pushed prices to the max… all while selling the notion that prices go up with each phase.

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