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Old 05-27-2012, 10:00 AM   #1
Barefootsies
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:2cents Cities with the most homes in foreclosure

Miami and Vegas I knew about. Kind of surprised on some of the others. I thought for sure L.A. would be on there. However, the did not crack the top five apparently.

Quote:
1. Riverside-San Bernardino-Ontario, Calif.
2. Las Vegas-Paradise, Nev.
3. Miami-Ft. Lauderdale-Pompano Beach, Fla.
4. Sacramento-Arden-Arcade-Roseville, Calif.
5. Atlanta-Sandy Springs-Marietta, Ga.
FULL STORY
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Old 05-27-2012, 10:11 AM   #2
shake
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Probably good places to invest, maybe a few more years before bottom his hit though.
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Old 05-27-2012, 10:15 AM   #3
NaughtyRob
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I just moved from
1. Riverside-San Bernardino-Ontario, Calif.
to
2. Las Vegas-Paradise, Nev.

haha
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Old 05-27-2012, 10:44 AM   #4
lazycash
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Originally Posted by shake View Post
Probably good places to invest, maybe a few more years before bottom his hit though.
Nah, bottom is now if you're thinking of investing.
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Old 05-27-2012, 11:03 AM   #5
baddog
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Nah, bottom is now if you're thinking of investing.
Why do you think that? I want to believe, but . . . .
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Old 05-27-2012, 11:06 AM   #6
baddog
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Well, Rochard told us over a year ago that Roseville was in the tank. As far as the Inland Empire, they did a lot of new construction and sold to people that could not really afford it. That one was pretty predictable.
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Old 05-27-2012, 11:06 AM   #7
epitome
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Nah, bottom is now if you're thinking of investing.
Two words: shadow inventory
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Old 05-27-2012, 12:55 PM   #8
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Just because something is cheap doesn't mean it's a good deal. Instead of assuming that now is the time to buy property in the Sacramento-Arden-Arcade-Roseville, ask yourself whether or not you feel that the area will be more desirable to more people in 5+ years.

NYC, at least Manhattan, always has a low foreclosure rate b/c coops make up a high percentage of the inventory and the approval process for even many of the condo boards is more difficult than the approval process to get a loan.
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Old 05-27-2012, 02:03 PM   #9
DaLord
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Some of my friends here in Denmark bought houses in Miami. Very very cheap and excellent houses.
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Old 05-27-2012, 04:52 PM   #10
Rochard
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Roseville California is the next town over. I didn't know it was that bad there.

We had a huge problem here. Exactly half of the houses on my street were empty. Now only one is empty, and it's for rent.
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