Foreclosures With Sun Exposure

Since most of the cities with an abundance of foreclosed homes for sale are located in California, Nevada or Florida, you can probably find one you like in the sun belt. According to recent reports, foreclosure rates in the sunniest states remained among the highest in the nation. Inland California is a first-time home buyers’ dreamland, as Merced, Modesto, Stockton, and Sacramento (The Golden State’s capitol city) have some of the highest numbers of foreclosure homes in the US.

Las Vegas, Nevada has also seen their homes in foreclosure skyrocket. Since “Sin City” was among several major areas that experienced tremendous-though-inflated home value increases during the real estate boom, there is now a large inventory of foreclosed houses in and around Vegas, baby! In June of 2009, a record 4,702 homes were sold in southern Nevada; 74% of which were foreclosures.

The Sunshine State itself, Florida, has also a surge of foreclosure property. Many snowbirds who purchased second homes in better economic times have realized they can’t afford their winter digs. One in five US homes entering the bank foreclosure in 2007 were located in Florida, making it the state facing the highest rate of housing distress. According to data for 2008, Fort Lauderdale, Orlando, Miami, Sarasota, Tampa, Palm Beach, and Jacksonville were among the top 25 foreclosed cities in the US.