Foreclosure Home Housing & Foreclosure Reports Florida Foreclosure Activity Rises in January

Florida Foreclosure Activity Rises in January

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Statewide filings up 1 percent from December; Rate sixth highest

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 24,783 Florida properties in January, a 1 percent increase from December and 14 percent above the level reported for January 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Florida had the sixth highest foreclosure rate, reporting one in every 363 Florida housing units with a foreclosure filing in January.

California continues to lead the nation in terms of total properties with foreclosure filings by a large margin, reporting 51,584 properties with foreclosure filings. Florida ranked second highest. Third place was Illinois, where 14,349 properties with foreclosure filings were reported. Michigan had the fourth highest total, reporting 12,808 properties with foreclosure filings while Georgia took fifth place, tallying 12,467 properties with foreclosure filings.

The remaining states that make up the nation’s top 10 in January include Texas (9,085), Arizona (8,749), Ohio (8,325), Nevada (5,931) and Indiana (5,039). The top 10 accounted for 73 percent of the nation’s total foreclosure activity for the month.

Osceola County posts top foreclosure rate in the state for January
 One in every 195 housing units in Osceola County had a foreclosure filing in January — 3.2 times the national average and 1.9 times the state average — the highest foreclosure rate of all Florida counties for the month. Clay County had the second highest rate of one in every 206 housing units with a foreclosure filing during the month — three times the national average and 1.8 times the state average. Charlotte County had the third highest rate of one in every 242 housing units with a foreclosure filing during the month — 2.6 times the national average and 1.5 times the state average.

Miami-Dade County leads state in foreclosure activity in January
 Miami-Dade County led all counties by a large margin, reporting 3,737 properties with foreclosure filings for the month. Broward County had the second highest total, reporting 2,772 properties with foreclosure filings. Palm Beach County was third, reporting 1,982 properties with foreclosure filings. Fourth highest was Orange County, recording 1,952 properties with foreclosure filings. Hillsborough County was fifth highest, tallying 1,172 properties with foreclosure filings for the month.

State the nation’s second largest contributor to total foreclosure activity in January
 Florida accounted for 12 percent of the 210,941 properties with foreclosure filings reported nationwide in January. Total U.S. activity increased by 3 percent from December, but was still down over 19 percent from the level reported in January 2011. One in every 624 U.S. housing units received a foreclosure filing during the month.

“Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore, CEO of RealtyTrac. “Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Illinois, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.

“We expect the pattern of increasing foreclosures to continue in the coming months, especially given the finalized mortgage and foreclosure settlement reached in early February between 49 state attorneys general and five of the nation’s largest lenders,” Moore continued. “The settlement sets forth clear guidelines for lenders and servicers to follow when foreclosing, which should allow them to push through some of the delayed foreclosures from last year. Other roadblocks to foreclosure are still in place at the state level, however, including legislation altering the foreclosure process and lawsuits against lenders. We expect to see somewhat uneven trends in local and regional foreclosure numbers going forward as lenders work through these additional legislative and legal roadblocks.”

 

Florida Top Foreclosure Rates By County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

n/a

n/a

Florida

0

12,102

0

5,074

7,607

24,783

363

1.72

n/a

 

 

 

 

 

 

 

 

 

 

Osceola

0

309

0

181

167

657

195

3.20

1.86

Clay

0

190

0

132

45

367

206

3.04

1.76

Charlotte

0

122

0

115

178

415

242

2.57

1.50

Pasco

0

607

0

91

238

936

245

2.55

1.48

Orange

0

795

0

236

921

1,952

250

2.50

1.45

 Florida Top Foreclosure Totals by County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg  Dec 11

% Chg   Jan 11

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

2.89

-19.28

Florida

0

12,102

0

5,074

7,607

24,783

363

0.84

14.36

 

 

 

 

 

 

 

 

 

 

Miami-Dade

0

1,913

0

1,002

822

3,737

265

6.19

52.66

Broward

0

827

0

1,117

828

2,772

292

-13.89

11.50

Palm Beach

0

803

0

530

649

1,982

335

-23.39

-4.53

Orange

0

795

0

236

921

1,952

250

30.48

47.10

Hillsborough

0

690

0

247

235

1,172

457

-12.86

-29.86

 


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