California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

Irvine-based RealtyTrac released a quarterly report on foreclosure activity
across the nation and found that 26 U.S. cities with the worst foreclosure
problems are concentrated in four states -- California, Florida, Arizona and
Nevada. 
The top ten highest for foreclosure rates:

1. Las Vegas
2. Merced
3. Cape Coral-Fort Myers
4. Stockton
5. Riverside
6. Modesto
7. Bakersfield
8. Vallejo-Fairfield
9. Phoenix
10. Port St. Lucie.

Thirteen of the top 26 metro foreclosure rates were in California, nine were
in Florida, and Nevada and Arizona each added two metro areas. One in every
159 U.S. households with mortgages got a foreclosure filing in the first
quarter of this year, according to the report. Merced which ranked second in
the nation had- one out of every 24 housing units in some stage of foreclosure.
Stockton ranks fourth in the nation had - one for every 27 homes, however, it
was a decrease from last year.  The Modesto metro area, which includes all of
Stanislaus County, ranks sixth in the nation had one for every 29 homes.
Bakersfield ranks seventh had one out of every 37 homes in foreclosure.  The
Sacramento metro area (ranked 11th) had one out of every 47 houses in foreclosure,
up significantly from last year. Salinas ranked 15th with one out of every 53
homes in foreclosure. Fresno ranked 16th had one out of 55 homes in foreclosure
also up significantly from last year. Visalia-Porterville ranked 17th had one
in 58 homes. The San Diego market is ranked 18th with one in every 63 homes. 
Thousand Oaks- Oxnard is ranked 19th with one in every 69 and the Los Angeles
Basin is ranked 20th with one in every 74 homes in foreclosure

I am Tim Johnson and this has been the California Business Minute.

To see the full list, go to:
http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=6203&accnt=64847