So how are those Foreclosure Rates you ask?

The good news? Virginia is not one of the states with the top foreclosure rates in the country, nor is Maryland or the District of Columbia. Who is? In May 2009, the National Association of Realtors (NAR) reported that the states with the highest foreclosure rates were California, Florida, Arizona, and Nevada. While these four states only represent about 18% of the nation’s population, they account for 46% of the nation’s total number of homes in foreclosure. Why these four states? Because they suffered the largest drop in price drops when the market fell, forcing home owners that bought in the peak and are unable to make their payments into foreclosure very quickly. Interested in more market updates? Call me today at (703) 574-3478 or contact me via email at gina@ask-gina.com.