If you live in one of the “sunshine” states of Arizona, California, or Florida, you have yet another talking point for your home state– these locations have recently been given the devious distinction of having posted the highest number of foreclosures in 2008. Given that Arizona is the home base for creditinfocenter.com, we’d argue that it’s not exactly something to brag about– but will it stifle the influx of snowbirds and midwestern transplants that keep clogging our inefficient freeway system already!??

All kidding (sortof) aside, the numbers were released by online marketplace data guru RealtyTrac yesterday. The bad news overall (which should come as a surprise to no one) is that foreclosure activity in the U.S. increased 81% in 2008, compared to the previous year– and 225% over 2006.

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country. Although as a realtor I’ve questioned some of the methods they use to collect, and present their data (there are always ways to manipulate data to favor a chosen outcome), there really is no question that there is a problem in our country at current, and it is one of those dreaded f-words that is at the center of it: foreclosure.

The numbers are certainly sobering. Back into the data realm, if you talk foreclosure RATES the (not so sober) state of Nevada gets some front-page airtime. More than 7% of Nevada housing units– this equates to 1 in 14– received at least one foreclosure notice in 2008, giving it the nation’s highest state foreclosure rate for the year. A total of 77,693 Nevada properties received a foreclosure filing during the year, an increase of nearly 126% from 2007 and an increase of nearly 530% from 2006.

Continuing on the foreclosure rate thread, the sunshine state of Florida registered the nation’s second highest state foreclosure rate in 2008, with 4.52% of its housing units (one in 22) receiving at least one foreclosure filing during the year. Arizona received the distinction of  achieving the third highest state foreclosure rate, with 4.49% of its housing units (one in 22) receiving at least one foreclosure filing during the year.

The housing bubble has certainly burst, and the foreclosure fallout continues– most likely into 2009 and perhaps beyond.

Readers, is there going to be ANY good news in this new year– besides the upcoming inauguration???????

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