FLORIDA FORECLOSURE ACTIVITY DOWN 2 PERCENT IN SEPTEMBER

Activity Up 158 Percent From September 2006; Foreclosure Rate Ranked No. 2

 

IRVINE, Calif. – Oct. 26, 2007 – Florida reported 33,354 foreclosure filings in September, the second highest total in the nation. Foreclosure activity declined 2 percent from the previous month, but was still more than 2.5 times the number reported in September 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state also posted the second highest foreclosure rate in the nation — one foreclosure filing for every 248 households — 2.3 times the national average.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“After a large increase in August, foreclosure activity in Florida backed off slightly in September, but is still way ahead of the activity level reported for the same month last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Employment is still strong in most of the state, but home sales and the median home price both continue to decline sharply, causing a stagnant market, which makes it difficult for homeowners in foreclosure to sell their way out of their predicament.

 

Although the state’s activity level remains high, it reported nearly 18,000 fewer foreclosure filings than national leader California. However, total filings for the state were more than 17,600 filings ahead of third ranked Ohio. Texas and Michigan reported the fourth and fifth highest totals in the nation respectively, each with more than 14,000 foreclosure filings for the month. Georgia came in sixth highest with almost 12,000 filings entering the foreclosure pipeline. The remaining states in the nation’s top 10 for total foreclosure filings in September were Illinois, Arizona, Colorado and Nevada.

 

Broward County dominates in foreclosure total and rate for September

Broward County posted the highest county foreclosure total and foreclosure rate for September. The county reported 6,479 foreclosure filings, a rate of one foreclosure filing for every 122 households — twice the state average and 4.6 times the national average.

 

Miami-Dade County came in second highest with a total 5,402 foreclosure filings. The county posted the state’s fifth highest foreclosure rate, one foreclosure filing for every 172 households — 1.4 times the state average and 3.2 times the national average.

 

Third highest total was reported by Palm Beach County, with 2,331 foreclosure filings, followed by Lee County, in fourth place with 2,322 foreclosure filings, and Hillsborough County, in fifth place with 1,782 foreclosure filings.

 

Lee County had the state’s second highest foreclosure rate — one foreclosure filing for every 135 households — 1.8 times the state average and 4.1 times the national average. Osceola County came in third with a rate of one foreclosure filing for every 137 households. Fourth highest rate was posted by Pasco County, one foreclosure filing for every 166 households, followed by Miami-Dade County, with one foreclosure filing for every 172 households.

 

State a major contributor to nation’s monthly total

Total filings in Florida accounted for 15 percent of the 223,538 foreclosure filings reported nationwide in September. The national total represents an 8 percent decrease from the previous month, but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 557 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                    Florida Foreclosure Market by County – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Florida

1

23

5,003

26,045

2,282

33,354

248

2.25

n/a

 

 

 

 

 

 

 

 

 

 

Alachua

0

0

29

104

1

134

781

0.71

0.32

Baker

0

0

5

6

1

12

691

0.81

0.36

Bay

0

0

22

67

10

99

907

0.61

0.27

Bradford

0

0

0

4

0

4

2,485

0.22

0.10

Brevard

0

0

160

812

51

1,023

247

2.26

1.00

Broward

0

2

1,133

4,758

586

6,479

122

4.57

2.03

Calhoun

0

0

0

3

4

7

768

0.73

0.32

Charlotte

0

1

20

181

20

222

412

1.35

0.60

Citrus

0

0

35

141

14

190

369

1.51

0.67

Clay

0

0

22

127

3

152

431

1.29

0.57

Collier

0

0

46

248

7

301

602

0.93

0.41

Columbia

0

0

1

14

6

21

1,189

0.47

0.21

De Soto

0

0

1

16

6

23

617

0.90

0.40

Dixie

0

0

0

3

1

4

1,908

0.29

0.13

Duval

0

1

151

756

63

971

378

1.47

0.66

Escambia

0

0

30

220

15

265

507

1.10

0.49

Flagler

0

0

1

76

4

81

485

1.15

0.51

Franklin

0

0

2

10

2

14

575

0.97

0.43

Gadsden

0

0

9

14

4

27

676

0.82

0.37

Gilchrist

0

0

0

6

1

7

901

0.62

0.27

Glades

0

0

0

5

0

5

1,188

0.47

0.21

Gulf

0

0

0

25

6

31

274

2.03

0.90

Hamilton

0

0

0

1

0

1

5,133

0.11

0.05

Hardee

0

0

1

4

1

6

1,700

0.33

0.15

Hendry

0

0

3

42

5

50

254

2.20

0.98

Hernando

0

1

74

313

34

422

173

3.22

1.43

Highlands

0

0

9

57

8

74

701

0.79

0.35

Hillsborough

0

0

153

1,449

180

1,782

275

2.02

0.90

Holmes

0

0

0

0

0

0

n/a 

0.00

0.00

Indian River

0

1

16

138

6

161

438

1.27

0.57

Jackson

0

0

5

14

3

22

923

0.60

0.27

Jefferson

0

0

2

2

0

4

1,397

0.40

0.18

Lafayette

0

0

0

0

0

0

n/a 

0.00

0.00

Lake

0

0

64

351

56

471

271

2.06

0.91

Lee

0

1

175

2,065

81

2,322

135

4.14

1.84

Leon

0

0

12

108

3

123

946

0.59

0.26

Levy

0

0

4

27

4

35

497

1.12

0.50

Liberty

0

0

0

1

3

4

807

0.69

0.31

Madison

0

0

0

9

6

15

540

1.03

0.46

Manatee

0

0

79

317

97

493

326

1.71

0.76

Marion

0

1

16

215

17

249

585

0.95

0.42

Martin

0

0

12

113

3

128

570

0.98

0.43

Miami-Dade

0

6

1,193

4,066

137

5,402

172

3.24

1.44

Monroe

0

0

17

58

7

82

645

0.86

0.38

Nassau

0

0

8

42

8

58

522

1.07

0.47

Okaloosa

0

0

12

96

7

115

762

0.73

0.32

Okeechobee

0

0

1

20

1

22

737

0.76

0.34

Orange

0

0

236

996

134

1,366

310

1.80

0.80

Osceola

0

0

72

650

26

748

137

4.08

1.81

Palm Beach

1

0

226

2,007

97

2,331

266

2.10

0.93

Pasco

0

0

222

850

156

1,228

166

3.36

1.49

Pinellas

0

1

206

982

166

1,355

365

1.52

0.68

Polk

0

0

126

767

20

913

281

1.98

0.88

Putnam

0

0

9

29

3

41

853

0.65

0.29

Saint Johns

0

1

12

114

7

134

559

1.00

0.44

Saint Lucie

0

4

46

544

22

616

190

2.93

1.30

Santa Rosa

0

0

5

168

10

183

310

1.80

0.80

Sarasota

0

1

136

561

94

792

264

2.11

0.94

Seminole

0

0

28

341

24

393

423

1.32

0.59

Sumter

0

0

4

27

4

35

1,022

0.54

0.24

Suwannee

0

0

0

0

1

1

16,356

0.03

0.02

Taylor

0

0

0

6

0

6

1,653

0.34

0.15

Union

0

0

0

0

0

0

n/a

0.00

0.00

Volusia

0

1

145

843

39

1,028

230

2.42

1.07

Wakulla

0

0

2

16

4

22

546

1.02

0.45

Walton

0

1

5

35

3

44

851

0.65

0.29

Washington

0

0

0

5

0

5

1,989

0.28

0.12

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, 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 homes, with more than 1.3 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 MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. 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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