FLORIDA FORECLOSURE ACTIVITY UP 77 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 106 Percent From August 2006; Foreclosure Rate Ranks Third Highest

 

IRVINE, Calif. – Sept. 21, 2007 – Florida reported 33,932 foreclosure filings in August, a 77 percent increase from the previous month and the second highest foreclosure total in the nation. The state total was also up 106 percent from August 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. With one foreclosure filing for every 243 households — 2.1 times the national average — the state’s foreclosure rate ranked third highest in the nation.

 

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.

 

“For seven straight months Florida has reported the second highest foreclosure total in the nation. In August the total was significantly higher than in any previous month so far in 2007 and double the number reported in August 2006,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the state has seen significant job growth this year, home sales volume and home prices continue to fall, making it difficult for distressed Florida homeowners to sell their way out of foreclosure.

 

California led the nation for the eighth consecutive month, reporting almost 24,000 more foreclosure filings than the Sunshine State. Third place Ohio reported more than 16,000 fewer foreclosure filings than Florida for the month. Fourth place Texas had nearly 17,000 fewer foreclosure filings, while fifth place Michigan had about 18,000 fewer filings entering some stage of the foreclosure pipeline. The remaining states in the nation’s top 10 for total foreclosure filings in August were Georgia, Arizona, Colorado, Illinois and Nevada.

 

Broward County tops in foreclosure total and rate in August

Broward County led the state in both foreclosure total and foreclosure rate for August, reporting 6,782 foreclosure filings, a rate of one foreclosure filing for every 117 households — 2.1 times the state average and 4.4 times the national average.

 

Miami-Dade County reported the second highest county total, with 5,659 foreclosure filings for the month. Third highest total was reported in Palm Beach County, with 2,499 foreclosure filings. Hillsborough County reported the state’s fourth highest foreclosure total, with 2,344 filings entering some stage of the foreclosure pipeline. In all, the top four counties accounted for 51 percent of all Florida foreclosure activity in August.

 

Flagler County posted the state’s second highest county foreclosure rate, one foreclosure filing for every 124 households — twice the state average and 4.1 times the national average. Third highest rate was reported in Pasco County, which posted one foreclosure filing for every 140 households — 1.7 times the state average and 3.7 times the national average. Osceola County had the fourth highest rate, one foreclosure filing for every 150 households, and Hernando County had the fifth highest county rate in the state, one foreclosure filing for every 160 households.

 

State a major contributor to national total

Florida accounted for 14 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Florida

0

85

5,280

26,203

2,364

33,932

243

2.10

n/a

 

 

 

 

 

 

 

 

 

 

Alachua

0

0

14

120

2

136

769

0.66

0.32

Baker

0

0

1

4

2

7

1,184

0.43

0.21

Bay

0

0

28

60

13

101

889

0.57

0.27

Bradford

0

0

0

1

0

1

9,938

0.05

0.02

Brevard

0

3

78

536

35

652

387

1.32

0.63

Broward

0

14

1,232

5,186

350

6,782

117

4.38

2.09

Calhoun

0

0

0

3

0

3

1,792

0.28

0.14

Charlotte

0

1

47

240

24

312

293

1.74

0.83

Citrus

0

0

16

156

75

247

284

1.80

0.86

Clay

0

0

19

164

12

195

336

1.52

0.72

Collier

0

0

27

328

15

370

490

1.04

0.50

Columbia

0

0

1

9

0

10

2,497

0.20

0.10

De Soto

0

0

0

10

1

11

1,290

0.40

0.19

Dixie

0

0

0

1

0

1

7,633

0.07

0.03

Duval

0

2

259

630

84

975

376

1.36

0.65

Escambia

0

2

24

142

8

176

764

0.67

0.32

Flagler

0

4

1

287

25

317

124

4.12

1.96

Franklin

0

0

1

0

0

1

8,056

0.06

0.03

Gadsden

0

0

6

17

2

25

730

0.70

0.33

Gilchrist

0

0

1

3

0

4

1,577

0.32

0.15

Glades

0

0

0

1

0

1

5,940

0.09

0.04

Gulf

0

0

1

1

0

2

4,249

0.12

0.06

Hamilton

0

0

0

0

0

0

 

0.00

0.00

Hardee

0

0

0

2

0

2

5,099

0.10

0.05

Hendry

0

0

0

29

0

29

437

1.17

0.56

Hernando

0

1

65

340

50

456

160

3.19

1.52

Highlands

0

0

8

53

3

64

811

0.63

0.30

Hillsborough

0

1

197

1,882

264

2,344

209

2.44

1.16

Holmes

0

0

0

2

0

2

4,110

0.12

0.06

Indian River

0

0

11

108

5

124

568

0.90

0.43

Jackson

0

0

0

0

0

0

 

0.00

0.00

Jefferson

0

0

1

2

0

3

1,863

0.27

0.13

Lafayette

0

0

0

2

0

2

1,388

0.37

0.18

Lake

0

1

76

362

51

490

261

1.96

0.93

Lee

0

5

167

1,350

70

1,592

196

2.60

1.24

Leon

0

0

18

74

10

102

1,141

0.45

0.21

Levy

0

0

4

6

2

12

1,449

0.35

0.17

Liberty

0

0

0

0

0

0

 

0.00

0.00

Madison

0

0

1

1

0

2

4,049

0.13

0.06

Manatee

0

4

101

395

66

566

284

1.80

0.86

Marion

0

0

40

283

24

347

420

1.22

0.58

Martin

0

0

17

83

6

106

689

0.74

0.35

Miami-Dade

0

10

1,446

3,925

278

5,659

164

3.11

1.48

Monroe

0

1

2

61

6

70

756

0.68

0.32

Nassau

0

0

15

12

1

28

1,082

0.47

0.22

Okaloosa

0

0

19

118

5

142

617

0.83

0.39

Okeechobee

0

0

4

12

1

17

953

0.54

0.26

Orange

0

6

110

927

28

1,071

396

1.29

0.62

Osceola

0

2

73

593

11

679

150

3.39

1.62

Palm Beach

0

6

212

2,181

100

2,499

248

2.06

0.98

Pasco

0

0

187

976

292

1,455

140

3.65

1.74

Pinellas

0

2

186

1,297

164

1,649

300

1.70

0.81

Polk

0

7

166

923

41

1,137

226

2.26

1.08

Putnam

0

0

3

27

5

35

1,000

0.51

0.24

Saint Johns

0

1

24

95

5

125

599

0.85

0.41

Saint Lucie

0

4

104

439

39

586

200

2.56

1.22

Santa Rosa

0

1

8

126

5

140

405

1.26

0.60

Sarasota

0

3

84

623

100

810

258

1.98

0.94

Seminole

0

1

65

484

39

589

282

1.81

0.86

Sumter

0

0

4

42

4

50

716

0.71

0.34

Suwannee

0

0

0

2

0

2

8,178

0.06

0.03

Taylor

0

0

0

0

0

0

 

0.00

0.00

Volusia

0

3

98

441

37

579

409

1.25

0.59

Wakulla

0

0

0

12

3

15

800

0.64

0.30

Walton

0

0

5

12

1

18

2,079

0.25

0.12

Washington

0

0

3

2

0

5

1,989

0.26

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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