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Bakersfield foreclosure rate climbs higher

The Bakersfield Californian | Tuesday, Aug 14 2007 7:19 AM

Last Updated: Tuesday, Aug 14 2007 7:19 AM

With one foreclosure filing for every 47 households, Bakersfield ranks among the country’s most beleaguered metropolitan real estate markets, according to data released Tuesday.

The city ranked eighth among the nation’s 100 biggest cities for foreclosure activity during the first six months of the year, according to RealtyTrac, an Irvine-based firm that tracks foreclosure statistics.

“The overall trend is toward escalating foreclosure rates, with 82 of the top 100 metro areas reporting year-over-year increases in the number of homes affected by foreclosures,” said RealtyTrac CEO James Saccacio.

The numbers may come as little surprise: Kern County clocked in eighth worst after the first three months of 2007.

Today’s report confirms continued trouble in California, with Stockton, Sacramento and the combined Riverside and San Bernardino region also making the top 10 list.

RealtyTrac uses county records, including notices of default, lis pendens, notices of trustee’s sales and real estate owned properties to calculate its reports.

Stockton topped RealtyTrac’s list, with one foreclosure for every 27 households. Las Vegas, Detroit, Denver, Miami, Memphis, Tenn. and Cleveland filled out the top 10.

Richmond, Va. had the country’s least foreclosure activity.