Foreclosures increase substantially in state and Richmond area
Written by SellHouseFast on May 5, 2008 – 6:23 pmVirginia had the 15th highest foreclosure rate among the 50 states and the District of Columbia in the first quarter, according to figures released yesterday by RealtyTrac, an online resource of foreclosed properties.
One in every 246 households in Virginia — or a total of 13,151 — received notices of default, auction sales and bank repossessions from January through March, up 526 percent from the same period a year ago.
The report showed that the Richmond region had the 24th lowest foreclosure rate among 100 cities. Yet, the number of notices here rose 1,341 percent from a year ago to one in every 425 households, or a total 1,182, properties in some phase of foreclosure.
Source: InRich.com
Posted in Virginia Market, foreclosure |
