Nationwide Foreclosures are up 30% in the third quarter, compared to last quarter - and up nearly 100% over this time last year, according to RealtyTrac.

At the top of the list is Nevada, with one fourclosure filing for every 61 households, up over 200% from this time last year.  California is in second place, with 1 filing for every 88 homes. 

Investors will keep a close eye on their local situation in making investment decisions, but there are some interesting national trends forming.  Notably, 45 out of 50 states experienced year-on-year increases in foreclosures.  This, along with tightening credit, increasing oil prices and declining consumer confidence have the potential to have a broad national impact.  This is "the tide that lifts/lowers all boats."  So even though we may view national headlines with a shrug, smart investors in Oklahoma and Virginia realize that what's going on in California and Nevada really does matter.