Top 10 Cities With Highest Foreclosure Rates in 3rd Quarter, 2007 : The Real Estate Bloggers

Top 10 Cities With Highest Foreclosure Rates in 3rd Quarter, 2007

November 17th, 2007 • Related • Filed Under

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The top 10 cities with the highest foreclosure rate should be singing California Dreamin’ by the Beach Boys, except these cities are far from the beach and the dreams that make midwesterners think about California. 5 of the top 10 worst cities for foreclosure in the country are in California and the numbers are truly ugly.

Stockton leads even depressed Detroit with 1 home in 31 in foreclosure, while for the first time all of the top 10 homes in foreclosure are have at least 1 percent of their housing inventory in foreclosure.

Top 10 Cities With Highest Foreclosure Rates in 3rd Quarter, 2007

  1. STOCKTON, CA 7,116  31
  2. DETROIT/LIVONIA/DEARBORN, MI  25,708  33
  3. RIVERSIDE/SAN BERNARDINO, CA 31,661 43
  4. FORT LAUDERDALE, FL 16,595 48
  5. LAS VEGAS/PARADISE, NV 14,948 48
  6. SACRAMENTO, CA 15,479 48
  7. CLEVELAND/LORAIN/ELYRIA /MENTOR, OH 16,332 57
  8. MIAMI, FL 15,484 60
  9. BAKERSFIELD, CA 3,947 64
  10. OAKLAND, CA 13,245  71

via RealtyTrac

Click here to for a Free Foreclosure search in your area if you are still interested in getting into the foreclosure game to find properties near your home.

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There Are 8 Responses So Far. »

  1. Comment by Cynthia Holt on 17 November 2007:

    As a real estate agent in the San Fernando Valley these numbers have many Southern Californians confused. While prices are going down in the out lying counties, in the valley prices have actually risen 2% since January. We only started to see price reductions in October and I don’t expect them to last long. Foreclosures are regional, not universal, and happen in less stable markets. San Bernadino and Riverside are the first to go down in value and will be the last to rise. In the valley we are the last to fall and the first to rise.

  2. Comment by Pittsburgh Real Estate on 18 November 2007:

    According to the RealtyTrac Foreclosure Activity Chart, Pittsburgh, PA has seen a decrease in foreclosures since Q3 2006. Pittsburgh was rated America’s Most Livable City this year by “Places Rated Almanac” based on housing, jobs, education, crime, and health care.

    http://www.placesrated.com/

    Andrew S. MacIntyre, Realtor - Achieve Realty
    MovePittsburgh.net : Pittsburgh Real Estate

  3. Comment by Justin Smith - Tomato Coach on 19 November 2007:

    Wow… CA makes the list 5 times?! Denver (my home town) isn’t even on the list and it led the nation in the first quarter

  4. Comment by Sebastian on 20 November 2007:

    It’s been made abundantly clear over the last six months that the foreclosure rates in America are increasing. I am curious however if this is slowly evolving into a global epidemic. I keep hearing that Central America’s real estate is on the rise and by the looks of websites like http://www.buysafecostarica.com and http://www.planetpads.com this seems to be accurate. Any suggestions on where to find stats on foreign real estate foreclosures?

  5. Comment by Eric Rojas on 20 November 2007:

    Chicago’s 60621 area code was hit really hard. Even the investors have slowed down on scooping them up with units sold very flat.

  6. Comment by Terri on 27 November 2007:

    The rate of forecloures sucks for the people going through it but for people like myself, who wil be purchasing a home within the next 5 months, it’s great!

  7. Comment by Xeelee on 23 January 2008:

    This is good news for those of us ready to purchase another home.

  8. Comment by Penny Trupiano on 1 February 2008:

    We tried to sell our home in a township sandwiched between Livonia to the West Dearborn heights to the South and Detroit to the East. In the first year we listed comments were good and complimentary but showings died down and because of too much personal business with sick relatives we took it off the market for 6 months. Listed again for another six months we had three people look at it and not a single good comment. We rented out the house to someone who loves the community and are happy to be there. Because we didn’t want to dump our house for less than it was worth we are quite happy that we rented it out to recovery some of our lost “profit.” It is a blessing to the pelople there now.

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