FLORIDA FORECLOSURE ACTIVITY UP 37 PERCENT IN APRIL

Activity Level Up 75 Percent From April 2008; Second Highest Rate in Nation

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 64,588 Florida properties in April, a 37 percent increase from the previous month and 75 percent above the level reported for April 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 135 Florida housing units received a foreclosure filing during the month, the second highest state foreclosure rate in the nation.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 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 increased again in April and was significantly above the level reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s economy continues to be plagued by recessionary forces, a failing real estate market and an unemployment rate teetering around 10 percent.”

 

The Sunshine State ranked second in the nation, far behind national leader California which reported 96,560 properties with foreclosure filings in April. Florida was well ahead Nevada, which narrowly beat out Arizona for third place, reporting 16,266 properties with foreclosure filings. Arizona was fourth highest, reporting 16,245 properties with foreclosure filings. Illinois came in fifth highest, tallying 13,647 properties with foreclosure filings. Ohio, Georgia, Texas, Michigan and Virginia completed the nation’s top 10 for total properties with foreclosure filings in April.

 

Miami-Dade County leads state in foreclosure activity in April

Miami-Dade County led the state in foreclosure activity for April, reporting 11,299 properties with foreclosure filings for the month. Broward County reported 10,305 properties with foreclosure filings, the state’s second highest county total. Lee County came in third highest, reporting 6,272 properties with foreclosure filings. Orange County came in fourth, documenting 4,562 properties with foreclosure filings, while the fifth highest total was in Hillsborough County, where 3,249 properties with foreclosure filings were reported for the month.

 

Osceola County post state’s top foreclosure rate for April

With one in every 57 housing units receiving a foreclosure filing — 2.4 times the state average and 6.6 times the national average — Osceola County posted the highest county foreclosure rate in the state for April. Lee County had the second highest rate, with one in every 57 housing units receiving a foreclosure filing — 2.4 times the state average and 6.5 times the national average. Third highest rate was documented in Broward County, where one in every 78 housing units received a foreclosure filing during the month — 1.7 times the state average and 4.8 times the national average.

 

State the second largest contributor to nation’s foreclosure total in April

Florida accounted for 19 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

             Florida Foreclosure Market Data by County – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Florida

0

41,674

0

16,800

6,114

64,588

135

37.04

75.41

 

 

 

 

 

 

 

 

 

 

Alachua

0

131

0

45

14

190

571

-52.26

128.92

Baker

0

14

0

3

2

19

460

46.15

137.50

Bay

0

252

0

113

23

388

252

14.79

162.16

Bradford

0

4

0

0

2

6

1,687

-50.00

-50.00

Brevard

0

1,026

0

254

104

1,384

192

23.24

80.92

Broward

0

6,797

0

2,845

663

10,305

78

124.07

90.62

Calhoun

0

1

0

0

0

1

5,448

-66.67

0.00

Charlotte

0

505

0

161

94

760

132

50.20

37.43

Citrus

0

84

0

25

10

119

634

-43.33

-29.59

Clay

0

351

0

190

35

576

125

81.13

158.30

Collier

0

806

0

405

171

1,382

139

-24.65

24.28

Columbia

0

38

0

16

3

57

454

0.00

 

De Soto

0

25

0

4

2

31

467

-20.51

-24.39

Dixie

0

8

0

0

0

8

982

-11.11

60.00

Duval

0

1,396

0

684

388

2,468

158

34.86

120.36

Escambia

0

241

0

101

39

381

363

-4.75

6.42

Flagler

0

206

0

24

12

242

200

-4.72

-0.82

Franklin

0

25

0

0

2

27

314

28.57

92.86

Gadsden

0

28

0

19

5

52

363

23.81

147.62

Gilchrist

0

2

0

3

0

5

1,292

-58.33

-50.00

Glades

0

1

0

1

0

2

3,034

-66.67

-60.00

Gulf

0

35

0

1

1

37

236

-7.50

117.65

Hamilton

0

7

0

2

2

11

472

10.00

 

Hardee

0

8

0

2

4

14

749

-36.36

40.00

Hendry

0

64

0

23

2

89

150

11.25

34.85

Hernando

0

347

0

120

54

521

154

-2.25

-18.08

Highlands

0

140

0

36

27

203

268

2.53

1094.12

Hillsborough

0

2,407

0

614

228

3,249

159

10.93

61.48

Holmes

0

3

0

1

0

4

2,083

-63.64

33.33

Indian River

0

117

0

154

35

306

252

-16.85

98.70

Jackson

0

18

0

6

2

26

791

13.04

85.71

Jefferson

0

9

0

5

0

14

413

366.67

1300.00

Lafayette

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lake

0

584

0

259

252

1,095

128

6.62

148.86

Lee

0

2,623

0

2,110

1,539

6,272

57

30.59

83.45

Leon

0

139

0

51

9

199

608

9.94

82.57

Levy

0

27

0

7

1

35

513

-14.63

66.67

Liberty

0

2

0

0

0

2

1,625

-50.00

 n/a

Madison

0

6

0

2

0

8

1,028

0.00

-11.11

Manatee

0

794

0

207

57

1,058

160

61.53

86.27

Marion

0

556

0

293

170

1,019

156

31.99

225.56

Martin

0

126

0

79

14

219

346

-16.41

68.46

Miami-Dade

0

8,161

0

2,420

718

11,299

86

111.16

89.58

Monroe

0

144

0

49

9

202

266

-5.61

85.32

Nassau

0

127

0

11

6

144

228

41.18

220.00

Okaloosa

0

161

0

65

11

237

392

-37.96

44.51

Okeechobee

0

68

0

23

7

98

168

22.50

4800.00

Orange

0

2,544

0

1,875

143

4,562

99

21.75

125.51

Osceola

0

1,422

0

549

104

2,075

57

32.59

82.82

Palm Beach

0

2,538

0

153

155

2,846

224

88.60

44.47

Pasco

0

709

0

143

205

1,057

206

-4.26

31.63

Pinellas

0

1,166

0

342

154

1,662

301

-29.58

59.50

Polk

0

959

0

649

69

1,677

166

67.70

84.08

Putnam

0

49

0

17

9

75

473

15.38

120.59

Saint Johns

0

369

0

104

59

532

156

16.16

224.39

Saint Lucie

0

507

0

716

205

1,428

91

-5.12

-13.51

Santa Rosa

0

175

0

60

36

271

217

-8.14

26.64

Sarasota

0

1,131

0

105

47

1,283

172

30.12

38.70

Seminole

0

548

0

270

56

874

197

-7.61

63.36

Sumter

0

17

0

6

2

25

1,760

-58.33

78.57

Suwannee

0

16

0

3

5

24

698

-29.41

50.00

Taylor

0

2

0

0

0

2

5,025

-33.33

-66.67

Union

0

2

0

0

0

2

1,990

 n/a

 n/a

Volusia

0

795

0

346

139

1,280

193

15.94

65.37

Wakulla

0

34

0

2

2

38

346

46.15

90.00

Walton

0

73

0

26

6

105

392

-52.91

61.54

Washington

0

4

0

1

1

6

1,675

-66.67

200.00

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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