FLORIDA FORECLOSURE ACTIVITY DOWN 3 PERCENT IN JANUARY

Activity Up 158 Percent From January 2007; Foreclosure Rate Ranks No. 3

 

IRVINE, Calif. – Feb. 26, 2008 – Florida had the second highest foreclosure total in the nation for January, reporting 30,178 foreclosure filings, down 3 percent from the previous month, but still 158 percent ahead of January 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 274 households was twice the national average, ranking it third highest among the 50 states.

 

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.

 

“Foreclosure activity in Florida has remained at an excessively high level since August of 2007, so this small monthly decline does not portend a turnaround in the market there,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment is up while home sales and prices have taken big hits, making it exceedingly tough for distressed homeowners to sell their way out of foreclosure.

 

As it was for almost all of 2007, the Sunshine State was second to only California which reported 57,158 foreclosure filings in January. Texas remained a distant third with 14,698 foreclosure filings, followed by Ohio in fourth place with 12,785 foreclosure filings for the month. Michigan and Georgia ran neck and neck with 10,746 foreclosure filings in Michigan and 10,665 foreclosure filings in Georgia. The remaining states in the nation’s top 10 for total foreclosure filings in January were Arizona, Massachusetts, Illinois and Colorado.

 

Three counties top state in foreclosure filings for the month

Three Florida counties accounted for 37 percent of all foreclosure activity in the state for January. Miami-Dade County led the state once again, reporting 4,021 foreclosure filings for the month. Lee County came in second reporting 3,639 foreclosure filings followed closely by Broward County with 3,426 foreclosure filings for the month. Fourth highest activity level was reported in Orange County with 1,917 foreclosure filings. Hillsborough County rounded out the state’s top five reporting 1,866 filings entering some stage of the foreclosure pipeline.

 

Lee County posts state’s highest foreclosure rate in January

Lee County posted the highest foreclosure rate in the state for January, one foreclosure filing for every 86 households — 3.2 times the state average and 6.2 times the national average. Saint Lucie County had the second highest foreclosure rate, one foreclosure filing for every 122 households — 2.2 times the state average and 4.4 times the national average. Reporting one foreclosure filing for every 142 households — 1.9 times the state average and 3.8 times the national average, Osceola County registered the third highest rate in the state. Fourth highest rate was reported in Flagler County, one foreclosure filing for every 145 households, followed by Hernando County in fifth place with a rate of one foreclosure filing for every 198 households.

 

State a major contributor to nation’s total in January

Total foreclosure filings in Florida accounted for nearly 13 percent of the 223,001 foreclosure filings reported nationwide in January. The national total represents an 8 percent increase from the previous month, and is 57 percent above the total reported for January 2007. The nation’s foreclosure rate increased to one foreclosure filing for every 534 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 – January 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

52,321

60,101

19,662

55,590

45,327

233,001

534

n/a

n/a

Florida

0

1

3,568

23,710

2,899

30,178

274

1.95

n/a

 

 

 

 

 

 

 

 

 

 

Alachua

0

0

8

96

34

138

758

0.71

0.36

Baker

0

0

0

4

0

4

2,072

0.26

0.13

Bay

0

0

38

159

9

206

436

1.23

0.63

Bradford

0

0

0

8

0

8

1,242

0.43

0.22

Brevard

0

0

82

626

62

770

328

1.63

0.84

Broward

0

0

583

2,582

261

3,426

231

2.32

1.19

Calhoun

0

0

1

1

0

2

2,688

0.20

0.10

Charlotte

0

0

42

347

23

412

222

2.41

1.23

Citrus

0

0

8

139

45

192

365

1.46

0.75

Clay

0

0

16

216

12

244

269

1.99

1.02

Collier

0

0

25

331

8

364

498

1.07

0.55

Columbia

0

0

1

7

2

10

2,497

0.21

0.11

De Soto

0

0

0

14

5

19

747

0.72

0.37

Dixie

0

0

0

3

0

3

2,544

0.21

0.11

Duval

0

0

139

1,106

70

1,315

279

1.92

0.98

Escambia

0

0

29

105

37

171

786

0.68

0.35

Flagler

0

0

11

221

39

271

145

3.68

1.89

Franklin

0

0

0

12

5

17

474

1.13

0.58

Gadsden

0

0

4

20

2

26

702

0.76

0.39

Gilchrist

0

0

2

3

0

5

1,261

0.42

0.22

Glades

0

0

0

1

1

2

2,970

0.18

0.09

Gulf

0

0

0

12

1

13

654

0.82

0.42

Hamilton

0

0

0

7

0

7

733

0.73

0.37

Hardee

0

0

0

9

0

9

1,133

0.47

0.24

Hendry

0

0

0

18

3

21

604

0.89

0.45

Hernando

0

0

8

274

87

369

198

2.70

1.38

Highlands

0

0

3

38

4

45

1,153

0.46

0.24

Hillsborough

0

0

150

1,499

217

1,866

263

2.03

1.04

Holmes

0

0

0

3

0

3

2,740

0.20

0.10

Indian River

0

0

14

147

10

171

412

1.30

0.66

Jackson

0

0

0

10

6

16

1,269

0.42

0.22

Jefferson

0

0

0

4

0

4

1,397

0.38

0.20

Lafayette

0

0

0

0

0

0

 n/a

0.00

0.00

Lake

0

0

30

235

14

279

458

1.17

0.60

Lee

0

0

286

3,030

323

3,639

86

6.22

3.18

Leon

0

0

13

65

3

81

1,437

0.37

0.19

Levy

0

0

1

14

1

16

1,087

0.49

0.25

Liberty

0

0

0

0

0

0

  n/a

0.00

0.00

Madison

0

0

0

2

0

2

4,049

0.13

0.07

Manatee

0

0

64

372

107

543

296

1.80

0.92

Marion

0

0

15

384

57

456

320

1.67

0.86

Martin

0

0

15

116

10

141

518

1.03

0.53

Miami-Dade

0

0

1,007

2,570

444

4,021

231

2.31

1.18

Monroe

0

0

9

64

3

76

696

0.77

0.39

Nassau

0

0

3

47

8

58

522

1.02

0.52

Okaloosa

0

0

37

107

11

155

566

0.94

0.48

Okeechobee

0

0

2

23

6

31

523

1.02

0.52

Orange

0

0

109

1,569

239

1,917

221

2.42

1.24

Osceola

0

0

41

648

33

722

142

3.78

1.93

Palm Beach

0

0

60

1,561

92

1,713

362

1.48

0.76

Pasco

0

0

57

483

25

565

360

1.48

0.76

Pinellas

0

0

215

1,038

157

1,410

351

1.52

0.78

Polk

0

0

64

671

73

808

318

1.68

0.86

Putnam

0

0

4

20

3

27

1,296

0.41

0.21

Saint Johns

0

0

26

114

7

147

509

1.05

0.54

Saint Lucie

0

0

120

762

74

956

122

4.37

2.24

Santa Rosa

0

0

27

94

10

131

433

1.23

0.63

Sarasota

0

0

74

676

168

918

228

2.35

1.20

Seminole

0

0

12

429

39

480

346

1.54

0.79

Sumter

0

0

6

7

2

15

2,386

0.22

0.11

Suwannee

0

0

3

19

11

33

496

1.08

0.55

Taylor

0

0

1

5

0

6

1,653

0.32

0.17

Union

0

0

0

0

0

0

  n/a

0.00

0.00

Volusia

0

1

98

514

31

644

368

1.45

0.74

Wakulla

0

0

0

15

0

15

800

0.67

0.34

Walton

0

0

5

31

4

40

936

0.57

0.29

Washington

0

0

0

3

1

4

2,486

0.21

0.11

 

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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