FLORIDA FORECLOSURES DECREASE 18 PERCENT IN NOVEMBER

Latest Numbers Move State Down a Notch to 3rd Place Nationally

 

IRVINE, Calif. – Dec. 11, 2006 – An 18 percent decline in foreclosure activity in November left Florida with the third highest foreclosure total in the nation after two straight months in second place. Reporting 9,362 properties entering some stage of the foreclosure process during the month, the state total is down significantly from the 11,413 properties reported in October, but is still up 6 percent from the 8,872 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 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 continued its downward trend for three straight months now since its peak back in August, when the state led the nation in total monthly activity,” said James J. Saccacio, chief executive officer of RealtyTrac. “Employment and tourism are up statewide, helping the economy stay afloat. Still, declining home sales volume and lower price appreciation, combined with large numbers of subprime and other risky adjustable loans used to purchase homes the past two years, is contributing to the state’s activity level ranking third highest in the country.”

 

Total foreclosures in Florida tallied more than 4,000 less than second place Texas and nearly 10,000 less than national leader California for the month. The rest of the states rounding out the nation’s top 10 highest foreclosure totals include Ohio, Michigan, Georgia, Illinois, New Jersey, Colorado and New York. Reporting one new foreclosure filing for every 780 households — 1.2 times the national average — the Sunshine state ranked 12th nationally in terms of foreclosure rate for November.

 

Largest share of state total found in two counties

Two counties accounted for 40 percent of all Florida foreclosures in November. Broward County led the way, reporting 2,127 properties entering some stage of the foreclosure process. Miami-Dade County  reported 1,637 properties entered the foreclosure pipeline, the state’s second highest total.

 

Flagler County leads state in foreclosure rate for November

Flagler County reported the state’s highest foreclosure rate, one new foreclosure filing for every 288 households — 2.7 times the state average and 3.3 times the national average. Saint Lucie County’s foreclosure rate of one new filing for every 292 households followed close behind. Broward County reported Florida’s third highest foreclosure rate, with one new filing for every 348 households — 2.2 times the state average and 2.8 times the national average.

 

Florida a significant contributor to nation’s total activity

Foreclosure activity in Florida accounted for nearly 8 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents an increase of 4 percent from the 115,568 foreclosures reported in October. The national foreclosure rate increased to one new foreclosure filing for every 961 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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 – November 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

Florida

0

6

1,436

7,750

170

9,362

780

1.23

n/a

 

 

 

 

 

 

 

 

 

 

Alachua

0

0

4

62

3

69

1,378

0.70

0.57

Baker

0

0

0

0

0

0

n/a 

0.00

0.00

Bay

0

0

7

63

3

73

1,074

0.89

0.73

Bradford

0

0

0

1

0

1

9,605

0.10

0.08

Brevard

0

1

23

169

1

194

1,145

0.84

0.68

Broward

0

0

311

1,809

7

2,127

348

2.76

2.24

Calhoun

0

0

0

0

0

0

n/a 

0.00

0.00

Charlotte

0

0

15

61

2

78

1,023

0.94

0.76

Citrus

0

0

5

44

3

52

1,196

0.80

0.65

Clay

0

0

12

108

5

125

430

2.23

1.82

Collier

0

0

6

103

1

110

1,314

0.73

0.59

Columbia

0

0

2

11

2

15

1,572

0.61

0.50

De Soto

0

0

0

17

0

17

800

1.20

0.98

Dixie

0

0

0

0

0

0

n/a 

0.00

0.00

Duval

0

1

79

291

14

385

857

1.12

0.91

Escambia

0

0

25

74

1

100

1,246

0.77

0.63

Flagler

0

0

0

82

3

85

288

3.34

2.71

Franklin

0

0

0

0

0

0

n/a 

0.00

0.00

Gadsden

0

0

0

0

0

0

n/a 

0.00

0.00

Gilchrist

0

0

0

2

0

2

2,548

0.38

0.31

Glades

0

0

0

0

0

0

n/a 

0.00

0.00

Gulf

0

0

0

0

0

0

n/a 

0.00

0.00

Hamilton

0

0

0

0

0

0

n/a 

0.00

0.00

Hardee

0

0

1

2

0

3

3,273

0.29

0.24

Hendry

0

0

1

2

0

3

4,098

0.23

0.19

Hernando

0

0

7

60

4

71

883

1.09

0.88

Highlands

0

0

0

9

1

10

4,885

0.20

0.16

Hillsborough

0

2

56

233

17

308

1,383

0.69

0.56

Holmes

0

0

0

5

0

5

1,600

0.60

0.49

Indian River

0

0

3

36

1

40

1,448

0.66

0.54

Jackson

0

0

0

5

2

7

2,784

0.35

0.28

Jefferson

0

0

0

0

0

0

n/a 

0.00

0.00

Lafayette

0

0

0

0

0

0

n/a 

0.00

0.00

Lake

0

0

13

78

7

98

1,049

0.92

0.74

Lee

0

0

33

250

8

291

843

1.14

0.93

Leon

0

0

14

46

3

63

1,650

0.58

0.47

Levy

0

0

1

6

4

11

1,506

0.64

0.52

Madison

0

0

0

0

0

0

n/a 

0.00

0.00

Manatee

0

0

21

58

1

80

1,727

0.56

0.45

Marion

0

0

23

127

4

154

797

1.21

0.98

Martin

0

0

7

20

0

27

2,425

0.40

0.32

Miami-Dade

0

0

289

1,337

11

1,637

521

1.85

1.50

Monroe

0

0

4

20

1

25

2,065

0.47

0.38

Nassau

0

0

0

7

1

8

3,240

0.30

0.24

Okaloosa

0

0

7

29

0

36

2,183

0.44

0.36

Okeechobee

0

0

0

2

0

2

7,752

0.12

0.10

Orange

0

0

49

274

7

330

1,119

0.86

0.70

Osceola

0

0

9

105

4

118

613

1.57

1.27

Palm Beach

0

0

110

374

10

494

1,126

0.85

0.69

Pasco

0

0

43

187

8

238

728

1.32

1.07

Pinellas

0

0

50

231

9

290

1,661

0.58

0.47

Polk

0

0

66

358

6

430

526

1.83

1.48

Putnam

0

0

4

7

1

12

2,823

0.34

0.28

Saint Johns

0

0

4

60

0

64

906

1.06

0.86

Saint Lucie

0

0

25

286

2

313

292

3.30

2.68

Santa Rosa

0

0

7

92

1

100

491

1.96

1.59

Sarasota

0

2

25

185

2

214

853

1.13

0.92

Seminole

0

0

21

173

0

194

758

1.27

1.03

Sumter

0

0

2

7

0

9

2,799

0.34

0.28

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

0

45

148

10

203

1,044

0.92

0.75

Wakulla

0

0

0

3

0

3

3,273

0.29

0.24

Walton

0

0

5

27

0

32

909

1.06

0.86

Washington

0

0

2

4

0

6

1,584

0.61

0.49

 

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 construction properties, with more than 1 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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