Southern California Foreclosures Down, while Las Vegas Continues to Increase
Mt. Pleasant, PA (PRWEB) December 30, 2009
Default Research Inc. (http://www.defaultresearch.com), a premier provider of pre foreclosure listings and Notices of Default, is reporting that pre foreclosures in their major metro areas, Southern California, South Florida, Chicago, and Last Vegas, showed a mix of solid improvement and steady decline in November 2009. For more detailed regional area foreclosure statistics listed by county, please visit http://market.defaultresearch.com.
Better in the West
One of the hardest hit states in the country through the foreclosure crisis has been California. California Pre Foreclosures have been consistently high in Los Angeles County, which has 3.08 percent of its households in foreclosure; Orange County has 3.42 percent of families in foreclosure, followed by San Diego at 4.26, San Bernardino with 7.31, and Riverside is still first with 9.27 percent of families in foreclosure. With Los Angeles Pre Foreclosure statistics down, the outlook for the region is positive, as the area has seen foreclosure rates decline on average 25 percent from the November 2008 to November 2009. Still, the cities with the highest numbers of Notice of Default and Notice of Trustee Sales are Los Angeles (1120), San Diego (1067), Riverside (717), and Corona (505).
Foreclosures Cool in Florida
South Florida lis pendens recordings continue to fall from November 2008. Broward, Miami-Dade and Palm Beach each had 1,588, 1,849, and 1398 lis pendens respectively. The five hardest hit cities in these regions included Miami (1048), Palm Beach (585), West Palm Beach (148), Fort Lauderdale (142), and Miramar (139).
Cook County No. 1 by a Ton
Chicago's Cook County, the nation's second largest county with a population exceeding 5,000,000 people, saw over 4,000 properties enter into foreclosure in November 2009. Default Research tracks Chicago Pre Foreclosure properties and in that area, the five hardest hit cities in Cook County were: Chicago (2152), Cicero (76), Berwyn (69), Des Plaines (68), and Calumet City (65).
Vegas a Good Bet for a Good Deal
Las Vegas Pre Foreclosures, including Notice of Default and Notice of Trustee Sales, exceeded 5,000 in November 2009. Clark County, the state's largest county and home to Las Vegas, had approximately 10.29 percent of homes entering into foreclosure in the past 12 months. The five hardest hit cities in Clark County included Las Vegas (3371), Henderson (751), North Las Vegas (734), Spring Valley (184), and Enterprise (180).
Data collection methodology
Default Research Inc's Metro Market Report™ is an accurate breakout of the number of unique pre foreclosure filings per county. Individual properties are counted only once during the prior twelve month period, thus making the statistics more precise as opposed to counting each property every month. The report contains aggregations of notice of default, lis pendens, and notice of trustee recordings from seven of the ten largest counties in the nation.
More about Default Research
Since 2004, Default Research Inc has been providing the freshest and most accurate pre foreclosure listings and statistics to real estate professionals and investors. Default Research Inc's proven data collection and most efficient distribution methods result in pre foreclosure lists being available two to three weeks ahead of the competition.
Default Research Inc currently abstracts and reports data in these six critical states highest in foreclosures: Arizona, California, Florida, Illinois, Michigan, and Nevada. Default Research Inc reports pre foreclosure documents days after being recorded. More information about Default Research Inc can be found at its Web site: http://www.defaultresearch.com.