FLORIDA FORECLOSURES JUMP 25 PERCENT IN JULY

State Has Second Highest Activity Level in Nation; Foreclosure Rate in Top 10

 

IRVINE, Calif. – August 11, 2006 – By a narrow margin, Florida surpassed California in foreclosure activity for August, reporting 10,757 properties entering some stage of the foreclosure process, the second highest level of activity in the country. The state’s total represents a 25 percent increase from the 8,605 properties reported in June, but is still 14 percent below the 12,471 properties reported for the same month last year, according to the RealtyTrac™ July 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“Foreclosure activity in Florida heated up again in July after taking a short respite in June when the state had the third highest foreclosure total in the nation,” said James J. Saccacio, chief executive officer of RealtyTrac. “Higher interest rates and a softening housing market — with inventory continuing to accumulate and fewer sales — are playing a significant factor in the rise in foreclosures we are currently witnessing.”

 

Florida activity overtook California for second place by little more than 700 foreclosures for the month, but is still more than 3,000 foreclosures behind national leader Texas. The state also had the sixth highest foreclosure rate in the nation, reporting one new foreclosure filing for every 679 households — 1.8 times the national average.

 

Four counties responsible for more than half of state total

Total foreclosure activity in four counties combined accounted for almost 52 percent of all foreclosure in Florida for July. Miami-Dade County had the most activity, reporting 1,883 properties in some stage of the process in July. Broward County had the second highest total, reporting 1,628 properties in some stage of the foreclosure process. Other counties with notable activity for the month included Hillsborough County reporting 1,050 properties entering some stage of the foreclosure process and Duval County reporting 1,009 properties in the foreclosure pipeline.

 

Duval County posts highest foreclosure rate in the state

Reporting one new foreclosure filing for every 327 households — 2.1 times the state average and 2.7 times the national average — Duval County had the highest foreclosure rate in Florida during July.  Hillsborough County had the second highest rate for the month, reporting one new foreclosure filing for every 406 households — 1.7 times the state average and 3.1 times the national average. Reporting one new foreclosure filing for every 447 households, Pasco County barely came in third ahead of Clay County which reported one new foreclosure filing for every 448 households — both at 1.5 times the state average and 2.8 times the national average. Miami-Dade County rounded out the top five with one new foreclosure filing for every 453 households — 1.5 times the state average and 2.7 times the national average.

 

Florida makes significant contribution to monthly national total

Florida foreclosures accounted for nearly 12 percent of the 92,845 properties entering some stage of foreclosure nationwide in July. The national total represents a 5 percent increase from June when a total 88,194 foreclosures were reported. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,245 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

                           Florida Foreclosure Market by County – July 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,202

38,173

4,795

13,295

16,380

92,845

1,245

Florida

0

0

1,218

9,168

371

10,757

679

1.83

 

 

 

 

 

 

 

 

 

 

Alachua

0

0

6

60

2

68

1399

0.89

0.49

Baker

0

0

0

0

0

0

0.00

0.00

Bay

0

0

8

46

2

56

1401

0.89

0.48

Bradford

0

0

0

0

0

0

0.00

0.00

Brevard

0

0

10

356

11

377

589

2.11

1.15

Broward

0

0

67

1,559

2

1,628

455

2.74

1.49

Calhoun

0

0

0

0

0

0

0.00

0.00

Charlotte

0

0

3

24

13

40

1994

0.62

0.34

Citrus

0

0

3

32

19

54

1152

1.08

0.59

Clay

0

0

16

95

9

120

448

2.78

1.52

Collier

0

0

16

67

0

83

1741

0.72

0.39

Columbia

0

0

2

12

0

14

1684

0.74

0.40

De Soto

0

0

0

2

0

2

6804

0.18

0.10

Dixie

0

0

0

0

0

0

0.00

0.00

Duval

0

0

233

703

73

1,009

327

3.81

2.08

Escambia

0

0

21

84

20

125

997

1.25

0.68

Flagler

0

0

0

32

8

40

611

2.04

1.11

Franklin

0

0

0

1

0

1

7180

0.17

0.09

Gadsden

0

0

0

0

0

0

0.00

0.00

Gilchrist

0

0

0

2

0

2

2548

0.49

0.27

Glades

0

0

0

1

0

1

5790

0.22

0.12

Gulf

0

0

0

0

0

0

0.00

0.00

Hamilton

0

0

0

1

0

1

4966

0.25

0.14

Hardee

0

0

0

1

0

1

9820

0.13

0.07

Hendry

0

0

0

3

0

3

4098

0.30

0.17

Hernando

0

0

16

78

6

100

627

1.99

1.08

Highlands

0

0

3

17

14

34

1437

0.87

0.47

Hillsborough

0

0

73

952

25

1,050

406

3.07

1.67

Holmes

0

0

0

2

0

2

3999

0.31

0.17

Indian River

0

0

9

113

1

123

471

2.65

1.44

Jackson

0

0

1

11

2

14

1392

0.89

0.49

Jefferson

0

0

1

1

0

2

2626

0.47

0.26

Lafayette

0

0

0

0

0

0

0.00

0.00

Lake

0

0

4

118

2

124

829

1.50

0.82

Lee

0

0

15

255

29

299

821

1.52

0.83

Leon

0

0

22

95

9

126

825

1.51

0.82

Levy

0

0

1

0

0

1

16570

0.08

0.04

Liberty

0

0

0

1

0

1

3156

0.39

0.22

Madison

0

0

0

0

0

0

0.00

0.00

Manatee

0

0

29

136

7

172

803

1.55

0.85

Marion

0

0

18

2

0

20

6133

0.20

0.11

Martin

0

0

3

33

1

37

1769

0.70

0.38

Miami-Dade

0

0

318

1,550

15

1,883

453

2.75

1.50

Monroe

0

0

0

14

0

14

3687

0.34

0.18

Nassau

0

0

22

10

4

36

720

1.73

0.94

Okaloosa

0

0

9

35

2

46

1709

0.73

0.40

Okeechobee

0

0

0

3

2

5

3101

0.40

0.22

Orange

0

0

29

429

17

475

778

1.60

0.87

Osceola

0

0

1

57

0

58

1246

1.00

0.54

Palm Beach

0

0

35

481

13

529

1052

1.18

0.65

Pasco

0

0

43

335

9

387

447

2.78

1.52

Pinellas

0

0

67

576

11

654

736

1.69

0.92

Polk

0

0

48

159

9

216

1048

1.19

0.65

Putnam

0

0

5

29

6

40

847

1.47

0.80

Saint Johns

0

0

4

13

3

20

2900

0.43

0.23

Saint Lucie

0

0

0

90

2

92

992

1.26

0.68

Santa Rosa

0

0

4

72

6

82

599

2.08

1.13

Sarasota

0

0

5

140

2

147

1241

1.00

0.55

Seminole

0

0

26

145

6

177

831

1.50

0.82

Sumter

0

0

2

4

2

8

3149

0.40

0.22

Suwannee

0

0

0

0

0

0

0.00

0.00

Taylor

0

0

0

0

0

0

0.00

0.00

Union

0

0

0

0

0

0

0.00

0.00

Volusia

0

0

19

117

7

143

1482

0.84

0.46

Wakulla

0

0

0

3

0

3

3273

0.38

0.21

Walton

0

0

1

8

0

9

3231

0.39

0.21

Washington

0

0

0

3

0

3

3168

0.39

0.21

 

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value. Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.

 

###

 

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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