| Florida State has been continuously inside the top | | | | activity was the highest, all metros except |
| ten States, hard-hit by foreclosure crisis and May | | | | Vallejo-Fairfield, California, have shown a |
| 2010 is no exception. According to the latest | | | | downward trend in foreclosure activity, on a |
| foreclosure activity report released by Realtytrac, | | | | year-over-year basis. The break up is - No.1 Las |
| Florida is getting third rank - behind only Nevada | | | | Vegas, Nevada showed a downward trend by |
| and Arizona - in recording huge foreclosure filings | | | | nearly 18 percent; No.2 Merced, California - down |
| for the month of May. As many as 50,685 | | | | by 7 percent; No.3 Modesto, California - down by |
| properties in Florida, including Naples-Marco Island | | | | almost 28 percent; No.5 Cape Coral-Fort Myers, |
| Metropolitan area, have been reported to have | | | | the only metro in Florida to be caught into the list |
| new foreclosure filings. | | | | showed a downward foreclosure activity by |
| While the statistics for foreclosure rate in Florida | | | | nearly 19 percent. |
| State are one in 174 housing units, that of | | | | Naples-Marco Island metropolitan area is |
| Naples-Marco Island is one in 157 households, | | | | fortunately not in this top 10 metro list. The other |
| receiving at least one foreclosure filings during the | | | | metros which have shown lesser foreclosure |
| month. | | | | activity by percentage are - No.6 - Stockton, |
| The month of May saw totally 1,237 properties | | | | California 33 percent; No.7 Riverside-San |
| from Naples-Marco Island fell into foreclosure trap | | | | Bernardino-Ontario, California 29 percent; No.8 |
| - default notices; auctions and repossessions. This | | | | Bakersfield, California down by 19 percent; No.9 |
| is an increase by nearly 10 percent from April and | | | | Reno-Sparks, Nevada was down by 18 percent |
| compared to May 2009, the new foreclosure | | | | and No.10 Phoenix, Arizona down by nearly 9 |
| filings were up by more than 2 percent. For the | | | | percent compared to May 2009. |
| foreclosure rate, Naples-Marco Island metro stood | | | | In the case of Vallejo-Fairfield, California also, the |
| as No.16 in the rankings of all metropolitan areas in | | | | increase in foreclosure activity in the month of |
| the nation. | | | | May is not much - just 1 percent than May 2009. |
| Overall in the country there is good news that the | | | | Incidentally, the bad news is Bank repossession of |
| foreclosure activity is down by 3 percent in the | | | | properties after foreclosure sale public auction hit |
| month of May, compared to April 2010, although | | | | a record high for the second successive month in |
| nationally the foreclosure activity figure of | | | | May 2010. There is no State escaping from the |
| 322,920 US properties is slightly up from last | | | | growth of Bank repo properties, including Florida |
| year, by less than 1 percent from May 2009. | | | | where Naples-Marco Island metro is situated. |
| During last month, one in every 400 US | | | | Totally 93,777 properties from all the 50 States |
| households received at least one foreclosure | | | | of US are caught in this segment, showing 1 |
| filings. | | | | percent increase from April and a staggering 44 |
| Also it is good news that out of the top 10 | | | | percent increase from May 2009. |
| metropolitan cities of US, where the foreclosure | | | | |