FLORIDA FORECLOSURE ACTIVITY UP 9 PERCENT IN SEPTEMBER

Filings Statewide Increase 44 Percent From September 2007; Rate Ranks No. 2

 

IRVINE, Calif. – Oct. 27, 2008 – Florida reported 47,956 properties with foreclosure filings in September, the second highest total in the nation for the 20th consecutive month. Foreclosure activity in the state increased 9 percent from the previous month and was 44 percent above the total reported in September 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 178 Florida households 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 levels in Florida reached a new monthly high for the year in September,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although home sales seem to be making some positive movement, home prices are still down by double-digit levels on a yearly basis. That combined with unemployment, which is up two percent so far this year, are contributing factors to the rise in foreclosures we are seeing in Florida.

 

The Sunshine State stood solidly in second place for the month, well behind national leader California, which reported 69,548 properties with foreclosure filings, and far ahead of the 13,022 properties with foreclosure filings reported by third place Nevada. Arizona dropped down one notch to fourth highest, documenting 12,982 properties with foreclosure filings. Ohio ranked fifth, reporting 11,470 properties with foreclosure filings. The remaining states in the nation’s top 10 for total properties with foreclosure filings in September were Michigan, Illinois, Georgia, Texas and New Jersey.

 

Broward County reports highest foreclosure activity for September

Broward County led Florida in foreclosure activity in September, reporting 6,403 properties with foreclosure filings. Lee County posted the second highest total, where 4,764 properties with foreclosure filings were reported. Hillsborough County came in a close third, reporting 4,663 properties with foreclosure filings for the month. Fourth highest was in Miami-Dade County, where 3,967 properties with foreclosure filings were reported. Orange County reported 3,265 properties with foreclosure filings, the fifth highest total in the state for the month.

 

Osceola County posts highest foreclosure rate in September

Osceola County posted the highest county foreclosure rate in Florida for September, with one in every 68 households receiving a foreclosure filing — 2.6 times the state average and seven times the national average. Lee County registered the second highest rate, where one in every 72 households received a foreclosure filing — 2.5 times the state average and 6.6 times the national average. Hillsborough County recorded the third highest rate, with one in every 108 households receiving a foreclosure filing during the month.

 

State a major contributor to nation’s foreclosure total in September

Florida accounted for 18 percent of the 265,968 properties with foreclosure filings reported nationwide in September. The national total represents a decrease of more than 12 percent from the previous month but is still 21 percent ahead of the total reported for September 2007. The nation’s foreclosure rate decreased to one in every 475 U.S. households receiving 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 – September 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

39,828

58,606

61,442

24,780

81,312

265,968

475

n/a

n/a

Florida

0

31,680

50

10,850

5,376

47,956

178

2.67

n/a

 

 

 

 

 

 

 

 

 

 

Alachua

0

81

0

29

47

157

680

0.70

0.26

Baker

0

11

0

3

1

15

570

0.83

0.31

Bay

0

136

0

42

22

200

476

1.00

0.37

Bradford

0

6

0

0

2

8

1,255

0.38

0.14

Brevard

0

1,285

2

272

181

1,740

150

3.17

1.19

Broward

0

3,896

3

1,707

797

6,403

124

3.82

1.43

Calhoun

0

5

0

0

0

5

1,086

0.44

0.16

Charlotte

0

434

0

91

51

576

167

2.85

1.07

Citrus

0

141

1

80

49

271

272

1.75

0.66

Clay

0

183

0

52

22

257

271

1.76

0.66

Collier

0

774

3

406

127

1,310

143

3.32

1.24

Columbia

0

35

0

20

2

57

448

1.06

0.40

De Soto

0

27

0

2

5

34

422

1.13

0.42

Dixie

0

2

0

0

1

3

2,603

0.18

0.07

Duval

0

996

0

394

129

1,519

250

1.90

0.71

Escambia

0

209

0

102

41

352

389

1.22

0.46

Flagler

0

211

1

12

13

237

197

2.41

0.90

Franklin

0

9

0

0

0

9

922

0.52

0.19

Gadsden

0

24

0

9

3

36

514

0.92

0.35

Gilchrist

0

15

0

1

0

16

400

1.19

0.44

Glades

0

4

0

0

0

4

1,506

0.32

0.12

Gulf

0

20

0

2

0

22

388

1.23

0.46

Hamilton

0

11

0

2

0

13

398

1.19

0.45

Hardee

0

11

0

2

0

13

793

0.60

0.22

Hendry

0

50

0

0

7

57

229

2.07

0.78

Hernando

0

282

1

57

34

374

207

2.29

0.86

Highlands

0

164

0

25

18

207

257

1.85

0.69

Hillsborough

0

3,280

1

1,130

252

4,663

108

4.38

1.64

Holmes

0

3

0

1

3

7

1,181

0.40

0.15

Indian River

0

448

0

38

17

503

147

3.22

1.21

Jackson

0

13

0

11

3

27

758

0.63

0.23

Jefferson

0

1

0

0

0

1

5,705

0.08

0.03

Lafayette

0

1

0

0

0

1

2,803

0.17

0.06

Lake

0

373

0

38

89

500

268

1.77

0.66

Lee

0

2,941

3

1,068

752

4,764

72

6.63

2.48

Leon

0

152

0

31

7

190

629

0.76

0.28

Levy

0

13

0

6

1

20

888

0.53

0.20

Liberty

0

3

0

0

0

3

1,081

0.44

0.16

Madison

0

6

0

1

2

9

907

0.52

0.20

Manatee

0

543

2

220

139

904

184

2.58

0.97

Marion

0

501

1

55

87

644

237

2.00

0.75

Martin

0

168

0

77

15

260

288

1.65

0.62

Miami-Dade

0

1,992

13

1,127

835

3,967

240

1.98

0.74

Monroe

0

67

0

21

10

98

545

0.87

0.33

Nassau

0

41

0

11

6

58

547

0.87

0.33

Okaloosa

0

147

0

15

21

183

499

0.95

0.36

Okeechobee

0

37

0

5

1

43

381

1.25

0.47

Orange

0

2,272

3

743

247

3,265

135

3.52

1.32

Osceola

0

985

4

468

152

1,609

68

6.95

2.61

Palm Beach

0

1,960

5

504

187

2,656

238

2.00

0.75

Pasco

0

901

0

224

50

1,175

181

2.62

0.98

Pinellas

0

1,286

2

340

245

1,873

266

1.78

0.67

Polk

0

977

2

360

233

1,572

171

2.77

1.04

Putnam

0

46

0

11

2

59

598

0.79

0.30

Saint Johns

0

217

0

72

10

299

269

1.77

0.66

Saint Lucie

0

707

0

332

57

1,096

115

4.15

1.55

Santa Rosa

0

96

0

17

18

131

443

1.07

0.40

Sarasota

0

948

1

329

159

1,437

151

3.15

1.18

Seminole

0

645

0

81

41

767

222

2.14

0.80

Sumter

0

24

0

6

5

35

1,162

0.41

0.15

Suwannee

0

12

0

1

0

13

1,274

0.37

0.14

Taylor

0

5

0

1

1

7

1,431

0.33

0.12

Union

0

0

0

0

0

0

n/a

0.00

0.00

Volusia

0

704

0

158

169

1,031

236

2.01

0.75

Wakulla

0

34

0

1

3

38

333

1.43

0.53

Walton

0

101

2

36

3

142

282

1.68

0.63

Washington

0

8

0

1

2

11

906

0.52

0.20

 

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

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved