STRATEGY
FORECLOSURES
CountiesWithMost Abundant Foreclosure- Buying Opportunities
TOP 10 COUNTIES WITH HIGHEST NUMBER OF COMPLETED FORECLOSURES
2018 COMPLETED FORECLOSURES
PCT CHANGE FROM 2017
8,000
30%
7,246
7,000
20%
6,000
10%
by ATTOM Data Solutions
5,000
0%
here were a total of 624,753 U.S. properties that received a foreclosure filing in 2018, and of those, 230,305 properties were repos- sessed by a lender, according to the ATTOM Data Solutions 2018 Year-End Foreclosure Activity Report. While bank repossessions (REOs) decreased 21 percent from 2017 and were down 78 percent from a peak of 1,050,500 in 2010 to the lowest level as far back as data is available — 2006, some coun- ties are still ripe for the picking. T
Counties that stick out amongst the weeds are those with the highest number of completed foreclosures (REOs) in the nation. For instance, while Cook County, Illinois, in the Chicago metropolitan area has slowly decreased each year in REOs, the actual number of REOs is the highest in the nation, with 7,246 homes being repos- sessed in 2018. Following this trend are counties like Cuyahoga County, Ohio (2,684 REOs); Wayne County,
Michigan (2,508 REOs); Los Angeles County, California (2,486 REOs); and Miami-Dade County, Florida (2,459 REOs). However, there are some counties in the Top 10, who saw an annual uptick in foreclosures. FORECLOSURE STARTS AT NEWRECORD LOW NATIONWIDE, INCREASE IN 18 STATES On the other end of the foreclosure
3,924
4,000
3,592
-10%
3,000
2,684
2,508
2,486
2,459
2,445
2,220
-20%
1,986
2,000
-30%
1,000
0
-40%
Cook Co., IL
Maricopa Co., AZ
Harris Co., TX
Cuyahoga Co., OH
Wayne Co., MI
Los Angeles Co., CA
Miami- Dade Co., FL
Clark Co., NV
Broward Co., FL
Suffolk Co., NY
60 | think realty magazine :: march / april 2019
thinkrealty . com | 61
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