FLORIDA FORECLOSURE ACTIVITY UP 7 PERCENT IN DECEMBER

Increase 275 Percent From December 2006; Foreclosure Rate Ranked No. 3

 

IRVINE, Calif. – Jan. 25, 2008 – As it has for most of the year, Florida ended 2007 with the second highest foreclosure total in the nation, reporting 31,219 foreclosure filings in December. Up 7 percent from the previous month, the state’s activity level more than tripled from December 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 264 households ranked 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.

 

“After three months of steady decline, foreclosure activity in Florida picked up again in December to give the state a foreclosure rate that is more than twice as high as the national average,” said James J. Saccacio, chief executive officer of RealtyTrac. “Factors contributing to this gain in foreclosure activity include a rise in unemployment, a large decline in home sales and depreciating home prices.

 

The activity level in the Sunshine State is second only to California, which reported more than 53,000 foreclosure filings in December. Third highest level of activity was reported in Texas with more than 12,000 foreclosure filings for the month. Close behind in fourth place was Ohio. Michigan came in fifth place with about 11,600 filings. The remaining states in the nation’s top 10 for total foreclosure filings in December were Nevada, Illinois, Georgia, Arizona and Colorado.

 

Top five counties account for bulk of state’s foreclosures in December

The top five counties in Florida accounted for 55 percent of all foreclosure activity in the state during December. Miami-Dade County led the way once again, reporting 5,435 foreclosure filings for the month. Broward County reported the second highest total in the state, with 4,327 foreclosure filings. Third highest was Lee County, reporting 3,257 filings, followed by fourth place Palm Beach County, with 2,063 foreclosure filings. Fifth highest total was reported in Hillsborough County, with 1,986 filings entering some stage of the foreclosure pipeline.

 

Lee County posts state’s highest foreclosure rate for December

Lee County led the state in terms of foreclosure rate in December, with one foreclosure filing for every 96 households — 2.8 times the state average and six times the national average. Saint Lucie County had the second highest rate in the state, one foreclosure filing for every 166 households — 1.6 times the state average and 3.5 times the national average. Third highest rate was reported in Miami-Dade, one foreclosure filing for every 171 households — 1.6 times the state average and 3.4 times the national average. Rounding out the state’s top five county foreclosure rates were Hernando County, with a rate of one foreclosure filing for every 177 households, and Broward County, with one foreclosure filing for every 183 households.

 

State a major contributor to nation’s foreclosure total for the month

Total filings in Florida accounted for nearly 15 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 577 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 – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

Florida

0

111

4,819

23,747

2,542

31,219

264

2.18

n/a

 

 

 

 

 

 

 

 

 

 

Alachua

0

0

27

99

39

165

634

0.91

0.42

Baker

0

0

0

1

1

2

4,144

0.14

0.06

Bay

0

0

36

107

16

159

565

1.02

0.47

Bradford

0

0

0

8

2

10

994

0.58

0.27

Brevard

0

4

103

661

21

789

320

1.81

0.83

Broward

0

11

904

3,027

385

4,327

183

3.16

1.45

Calhoun

0

0

0

1

0

1

5,376

0.11

0.05

Charlotte

0

1

51

358

26

436

210

2.75

1.26

Citrus

0

0

25

131

41

197

356

1.62

0.74

Clay

0

0

16

122

9

147

446

1.29

0.59

Collier

0

8

26

496

32

562

323

1.79

0.82

Columbia

0

0

4

8

4

16

1,561

0.37

0.17

De Soto

0

0

0

15

3

18

789

0.73

0.34

Dixie

0

0

0

1

0

1

7,633

0.08

0.03

Duval

0

0

140

673

88

901

407

1.42

0.65

Escambia

0

0

43

274

23

340

396

1.46

0.67

Flagler

0

3

5

143

31

182

216

2.67

1.22

Franklin

0

0

0

6

3

9

895

0.64

0.30

Gadsden

0

1

2

7

8

18

1,014

0.57

0.26

Gilchrist

0

0

0

5

1

6

1,051

0.55

0.25

Glades

0

0

0

6

1

7

849

0.68

0.31

Gulf

0

0

0

10

2

12

708

0.82

0.37

Hamilton

0

0

0

0

0

0

n/a

0.00

0.00

Hardee

0

0

0

8

0

8

1,275

0.45

0.21

Hendry

0

1

2

28

3

34

373

1.55

0.71

Hernando

0

1

56

307

49

413

177

3.27

1.50

Highlands

0

0

16

84

15

115

451

1.28

0.59

Hillsborough

0

4

196

1,600

186

1,986

247

2.34

1.07

Holmes

0

0

0

2

1

3

2,740

0.21

0.10

Indian River

0

0

13

123

11

147

480

1.20

0.55

Jackson

0

0

2

6

5

13

1,562

0.37

0.17

Jefferson

0

0

1

3

0

4

1,397

0.41

0.19

Lafayette

0

0

0

1

0

1

2,776

0.21

0.10

Lake

0

2

43

246

28

319

400

1.44

0.66

Lee

0

24

409

2,679

145

3,257

96

6.01

2.75

Leon

0

0

21

92

6

119

978

0.59

0.27

Levy

0

1

0

9

1

11

1,580

0.37

0.17

Liberty

0

0

0

0

0

0

 n/a

0.00

0.00

Madison

0

0

0

1

1

2

4,049

0.14

0.07

Manatee

0

4

116

438

67

625

257

2.24

1.03

Marion

0

1

48

270

134

453

322

1.79

0.82

Martin

0

0

10

96

6

112

652

0.89

0.41

Miami-Dade

0

2

985

4,074

374

5,435

171

3.38

1.55

Monroe

0

0

9

71

6

86

615

0.94

0.43

Nassau

0

0

1

8

1

10

3,029

0.19

0.09

Okaloosa

0

0

13

100

14

127

690

0.84

0.38

Okeechobee

0

0

5

18

3

26

623

0.93

0.42

Orange

0

4

196

1,008

107

1,315

322

1.79

0.82

Osceola

0

0

106

370

49

525

195

2.97

1.36

Palm Beach

0

11

347

1,586

119

2,063

300

1.92

0.88

Pasco

0

4

99

513

45

661

308

1.88

0.86

Pinellas

0

2

187

775

157

1,121

442

1.31

0.60

Polk

0

7

133

629

54

823

312

1.85

0.85

Putnam

0

0

4

24

10

38

921

0.63

0.29

Saint Johns

0

1

11

49

1

62

1,207

0.48

0.22

Saint Lucie

0

9

79

569

48

705

166

3.48

1.59

Santa Rosa

0

0

9

53

3

65

873

0.66

0.30

Sarasota

0

2

123

673

75

873

239

2.41

1.10

Seminole

0

0

68

338

52

458

363

1.59

0.73

Sumter

0

0

3

28

1

32

1,118

0.52

0.24

Suwannee

0

0

0

0

0

0

 n/a

0.00

0.00

Taylor

0

0

0

0

0

0

 n/a

0.00

0.00

Union

0

0

0

0

0

0

 n/a

0.00

0.00

Volusia

0

3

120

659

19

801

296

1.95

0.89

Wakulla

0

0

0

16

2

18

667

0.87

0.40

Walton

0

0

6

29

7

42

891

0.65

0.30

Washington

0

0

0

5

1

6

1,658

0.35

0.16

 

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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