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The Buzz of Foreclosures in The Beehive State

Posted By admin || 27-Apr-2012

The Buzz of Foreclosures in The Beehive State

The Beehive State of Utah still remains one of the top states experiencing many foreclosures within the Unites States, according to recent reports. The Midyear 2011 Foreclosure Market Report from Realty Trac places Utah as the fourth highest rate of filings in the Nation. The first three include Nevada, California, and Arizona.

For the first six months of the year, the filing rate was at 1.65, meaning that for every 61 households, one received either a default notice, bank repossession or had a scheduled auction. On that same note, this rate is 13.11 percent lower versus the same time last year. The details of the report also stated that almost 16,000 properties in the state of Utah recorded a filing of a foreclosure within that period.

For every 1 out of 21, about 5 percent, of housing units within Nevada have received a filing during the first half of the year. This is the highest throughout the nation with a total of over 53,000 properties that have filed. Although a 17 percent decrease in comparison to the previous six months and in comparison to the same time last year, these figures are still significant.

Within Arizona, which is the second highest state to endure an overload of foreclosures, the statistic is 1 out of every 36 homes received a filing foreclosure. This is 2.82 percent in higher versus California with a current statistics of 1.96 percent. In California, 1 out of every 51 homes filed for foreclosure within the last six months of the year.

Other states that can be seem amongst the highest ten include Illinois at 1.15 percent, Colorado at 1.19 percent and Florida at 1.28 percent. Michigan also makes the top ten with 1.34 percent, Idaho at 1.49 percent, and lastly, the state of Georgia at 1.50 percent.

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