Foreclosures in the Charlottesville Area, First Quarter 2010 - Up 72% Over Q1 2009

*Update at bottom.
That's an attention-getting headline, but it's also the way the Virginia Association of Realtors is charting foreclosures.  See Figure 1.

Not only has foreclosure activity increased, but because sales remain low, the number wipes out any progress in lowering area inventory.  The Cville Area had 306 foreclosures in Q1.  There were 436 sales during Q1 2010.  The foreclosure