Foreclosure Activity Down 15% In Q1 2011 Nashville Real Estate

RealtyTrac is reporting in their latest report that foreclosure filings were down 15% over Q4 2010 and down 27% over Q1 2010.  In Tennessee, foreclosure filings include notices of default, foreclosure auctions and bank possessions.   The report also shows that 1 in every 191 homes received a foreclosure filing during the first quarter. 

An interesting trend to note is that bank prepossessions were down in all states except those with non-judicial foreclosures processes  where they increased 9%.  The usual suspects, California, Arizona and Nevada, continue to post the highest foreclosure rates.  Rounding out the top ten were Utah, Georgia, Michigan, Florida, Colorado and Illinois.  California accounted for 25% of all foreclosure activity in the first quarter.

Isn't it great to be alive and to be in Nashville, TN!

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