Statistics based on data gathered from different states show that over one million homeowners have entered pre-foreclosure during the year of 2008. Even though not all these properties have been foreclosed, the numbers are still high enough to cause distress. Pre foreclosures have increased and it goes without saying that the worldwide financial crisis had something to do with it.

In some states, pre foreclosures have inflated with even 100% compared to the last year. These statistics do not sound too optimistic but it seems that there is some good news to be associated with this sector of the real estate market. Taking a good look at pre foreclosures by state, specialists have discovered that there are certain states where filings have decreased. This is valid for both pre foreclosures and foreclosures, showing one of the first promising signs that homeowners will be able to move past the economic crisis.

Analyzing the months of October and September, there has been noticed an increase in October. However, when the pre foreclosures filings for each month have been compared with the national average, the numbers did not seem so high anymore. In fact, considering pre foreclosures by state, one can acknowledge important differences between various states. At national level, the number of pre foreclosures has decreased with a few percents. And most importantly, as it was already mentioned, not every property that has entered the pre foreclosure stage will be repossessed.

California has traveled in front of the list for pre-foreclosure filings, followed tight by Florida and Arizona. Considering pre foreclosures by state, the list continues with Michigan, Maryland and New York. There are several states where pre foreclosures have doubled and even tripled in the last part of 2008, with most of the properties being worth more than one million dollars. Given various economic problems, homeowners have found themselves in the situation of not being able to pay their mortgage payments. It is obvious that this difficulty to pay was even more serious for the owners of highly valuable properties.

Ten of every 1000 housing units have entered the pre foreclosure process already. A record was also established in the month of August, with more than twelve states being affected by such trends. Washington, North Carolina and New Jersey ranked top high as well. It seems that southern states have been hit harder, with foreclosures numbers being almost four times than in northern parts. These statistics might seem hard to predict but the truth is that all it takes is a careful analysis of pre foreclosures by state.

If one wants to establish the latest foreclosures trends, then the best place to start is by taking a look at existing pre foreclosures. The Internet is a very useful resource when it comes to discovering statistics and filings reports, by state or by city. California still occupies the number one spot for pre-foreclosures and it seems that 2009 won't look too good for Californian homeowners. Other states present concerning reports but specialists consider that long term one has reasons to be optimistic.