From Deseret News archives:
Foreclosures jump in Utah
Increase is 78% over year ago; state's filing rate is 18th in U.S.
The RealtyTrac report also showed that the number of foreclosures in the Beehive State increased 34 percent from the fourth quarter 2007 to the first quarter of this year.
Utah ranked 18th in the nation in the number of homes in foreclosure. One in every 274 households in Utah had received a foreclosure filing in the first quarter, compared to the national average of one in 194 households.
Nationally, Nevada topped the list, with one in every 54 households receiving foreclosure filing, followed by California at one in 78 households, and Arizona at one in 95.
"Utah had previously avoided some of the spikes in foreclosure activity that we were seeing in other areas," said Daren Blomquist, RealtyTrac marketing and communications manager. "This quarter was the quarter where Utah and the Salt Lake City are really did see a good-sized jump in foreclosure activity."
Realty Trac publishes a national database of foreclosure and bank-owned properties from approximately 2,500 counties across the nation.
Metro areas in California and Florida metro areas accounted for 13 of the top 20 metro foreclosure rates, with the California cities of Stockton and Riverside-San Bernardino taking the first and second spots, according to the report.
One in every 30 Stockton households received a foreclosure filing during the quarter, followed by Riverside-San Bernardino, with and one in every 38 households. Las Vegas was third at one in 44 households; Bakersfield, Calif. was fourth at one in 51; and Sacramento ranked fifth, at one in 55 households.
As many families struggle to pay their mortgages, a report released Monday by Hope Now, a Bush administration-organized effort to help at-risk borrowers, showed that nearly 503,000 borrowers received some form of mortgage-loan assistance during the first quarter of 2008, although most of the help was temporary. Members of Hope Now include Bank of America Corp., Citigroup Inc., Washington Mutual Inc. and Wells Fargo and Co.
Another likely residual effect of the housing crunch is an increase in the percentage of vacant homes for sale in the United States, which set a new record high in the first quarter of this year, the government said Monday.
A Census Bureau report showed that 2.9 percent of U.S. homes, excluding rental properties, were vacant and up for sale, compared with 2.8 percent in the fourth quarter of 2007. It was the highest quarterly number in records going back to 1956.
Vacancy rates in the West had the biggest rise, increasing to 7 percent in the January-March period, compared with 6.5 percent in the fourth quarter of last year.
Nationally, the vacancy rate, including new and existing homes, has been rising steadily since mid-2005. The report did not break down vacancy rates by state or city.
Contributing: Associated Press
E-mail: jlee@desnews.com
Recent comments
Hi Folks,
It is what it is.... in other words the price is...
Highly Motivated | June 13, 2008 at 3:28 p.m.
I recently sold and will sit on the sideline until simple ratios line...
Sitting on the Sideline | April 30, 2008 at 1:28 p.m.
Gas is going to go down too, right? Tell that to the 1.3 billion...
To Arrogant! | April 30, 2008 at 7:45 a.m.
- Tuesday on TV 12:13 a.m.
- 'Dancing' will fill out finale 12:13 a.m.
- I'll take doc's advice on mammogram 12:12 a.m.
- Editorial: Winning fans' hearts 12:11 a.m.
- Afterthoughts 12:11 a.m.
- Letters: Barzee case like Jeffs' 12:11 a.m.
- Letters: Trump card for believers 12:11 a.m.
- Letters: Can't erase genetics 12:11 a.m.
- Letters: Rushing to judge Palin 12:11 a.m.
- Letters: MLS not BCS 12:11 a.m.
- Real Champions
- Bronco, Kyle rubber match
- Protests against Phoenix LDS temple
- BYU's Lamb, Jorgensen reprimanded
- Plenty on line for rivalry game
- RSL wins MLS Cup on penalty kicks
- Time for big matchups in WAC, MWC
- BCS at-large bids up for grabs
- Hall, Johnson matchup key
- Fans greet returning Real Salt Lake
- Glenn Beck to enter politics?
213 - RSL wins MLS Cup on penalty kicks
195 - Palin plans tour stop in Utah
178 - Palin's book shows she's unqualified
133 - BYU records with win
132 - Bronco, Kyle rubber match
131 - Protests against Phoenix LDS temple
109 - Officer cleared in Cardall Taser case
103 - BYU cuts Women's Research Inst.
103 - Jazz finally win in San Antonio
99
Associated Press Personal Finance Writer Candice Choi offers gift-giving...
Jared Quayle is a stud. He plays like a beast every time he touches the...
No Phx is not a majority LDS city Mesa is. As far as Tom's comment about...
Lest my Utah friends think I was just going to bang on my own, I think UteFan...
You can read the official declaration online via a photo of the original....
"McFeatters states that what Palin is doing, and doing brilliantly, is being...
don't mean to pick on you but fans from both sides make it easy to despise...
Nick Paulos is a great shooter, and Connor Brady's decent. But Provo and Kyle...
Explain this to me. He claims a utah fan ran on the field and threw a CUP of...
The International Center for Religion and Diplomacy mentioned in this article...
BYU doesn't have to make the U sound anti-Mormon, it's a fact; there is a...

