FLORIDA FORECLOSURES DECREASE 9 PERCENT IN JULY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 78 Percent From July 2006; Foreclosure Rate in Top 10

 

IRVINE, Calif. – Aug. 24, 2007 – Florida reported 19,179 foreclosure filings in July, making it the state with the second most foreclosures in the nation for the sixth consecutive month. Overall, activity in the state was down 9 percent from the previous month, but still 78 percent above the activity level reported for July 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate of one new filing for every 431 households — 1.6 times the national average — ranked seventh 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.

 

“Even with this latest monthly decline in activity, Florida has consistently reported the second highest level of foreclosure activity in the nation since February 2007,” said James J. Saccacio, chief executive officer of RealtyTrac. “Total foreclosures are still up significantly over this time last year, as unemployment continues to inch higher and home sales and prices remain depressed in many parts of the state.”

 

Although ranked second among the 50 states, activity in the Sunshine State was half the 39,013 filings reported by national leader California. Reporting 5,200 fewer filings than Florida, Michigan had the third highest foreclosure total for the month. Fourth-ranked Ohio had 600 fewer filings than Michigan, while fifth-ranked Georgia reported approximately 6,500 fewer filings entering some part of the foreclosure pipeline than Florida. The remaining states in the nation’s top 10 for total foreclosure filings in July were Texas, Colorado, Arizona, Illinois and Nevada.

 

Four counties account for more than half of state activity

Total foreclosure filings in four Florida counties accounted for 54 percent of the state’s activity in July. Miami-Dade County led the way once again, reporting 4,423 foreclosure filings for the month. Broward County reported the state’s second highest total, with 3,334 filings for the month. Third highest total was tallied in Palm Beach County, reporting 1,557 foreclosure filings. Hillsborough County had the fourth highest county total, with 1,009 filings entering some part of the foreclosure pipeline.

 

Miami-Dade posts highest foreclosure rate

In addition to the highest foreclosure total for the month, Miami-Dade County also posted the highest county foreclosure rate in the state, one foreclosure filing for every 210 households — 2.1 times the state average and 3.3 times the national average. Second highest rate was reported in Broward County with one new filing for every 237 households — 1.8 times the state average and 2.9 times the national average. Third highest rate was in Osceola County, which reported one new filing for every 262 households — 1.6 times the state average and 2.7 times the national average. Pasco County came in fourth with a foreclosure rate of one new filing for every 276 households. Hernando County was fifth with a rate of one new filing for every 277 households in July.

 

State a major contributor to nation’s monthly total

Total foreclosure filings in Florida accounted for 11 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate was one foreclosure filing for every 693 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 – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Florida

9

87

3,449

14,828

806

19,179

431

1.61

n/a

 

 

 

 

 

 

 

 

 

 

Alachua

0

0

7

54

0

61

1,715

0.40

0.25

Baker

0

0

0

3

1

4

2,072

0.33

0.21

Bay

0

2

15

38

2

57

1,575

0.44

0.27

Bradford

0

0

0

6

0

6

1,656

0.42

0.26

Brevard

0

3

97

439

18

557

453

1.53

0.95

Broward

0

9

636

2,547

142

3,334

237

2.92

1.82

Calhoun

0

0

0

1

0

1

5,376

0.13

0.08

Charlotte

0

4

20

98

1

123

744

0.93

0.58

Citrus

0

0

21

72

28

121

580

1.20

0.74

Clay

0

0

19

94

5

118

556

1.25

0.77

Collier

0

1

18

115

2

136

1,333

0.52

0.32

Columbia

0

0

3

0

0

3

8,325

0.08

0.05

De Soto

0

0

0

10

0

10

1,419

0.49

0.30

Dixie

0

0

1

4

0

5

1,527

0.45

0.28

Duval

2

7

177

444

26

656

559

1.24

0.77

Escambia

0

1

18

102

7

128

1,051

0.66

0.41

Flagler

0

1

8

64

7

80

491

1.41

0.88

Franklin

0

0

2

1

0

3

2,685

0.26

0.16

Gadsden

0

0

18

9

7

34

537

1.29

0.80

Gilchrist

0

0

0

4

0

4

1,577

0.44

0.27

Glades

0

0

0

0

0

0

n/a

0.00

0.00

Gulf

0

0

1

0

0

1

8,498

0.08

0.05

Hamilton

0

0

0

0

0

0

 n/a

0.00

0.00

Hardee

0

0

0

4

0

4

2,550

0.27

0.17

Hendry

0

0

6

6

2

14

906

0.77

0.48

Hernando

0

1

52

173

37

263

277

2.50

1.55

Highlands

0

0

5

30

2

37

1,403

0.49

0.31

Hillsborough

0

4

114

793

98

1,009

486

1.43

0.89

Holmes

0

0

0

0

0

0

 n/a

0.00

0.00

Indian River

0

1

3

62

0

66

1,068

0.65

0.40

Jackson

0

0

3

4

0

7

2,900

0.24

0.15

Jefferson

0

0

1

1

0

2

2,795

0.25

0.15

Lafayette

0

0

0

0

0

0

 n/a

0.00

0.00

Lake

0

0

45

201

12

258

495

1.40

0.87

Lee

1

7

120

567

1

696

449

1.54

0.96

Leon

0

0

11

40

1

52

2,238

0.31

0.19

Levy

0

0

6

8

1

15

1,159

0.60

0.37

Liberty

0

0

0

0

0

0

 n/a

0.00

0.00

Madison

0

0

0

0

0

0

 n/a

0.00

0.00

Manatee

0

2

35

204

23

264

609

1.14

0.71

Marion

0

1

31

184

21

237

615

1.13

0.70

Martin

0

2

5

60

3

70

1,043

0.66

0.41

Miami-Dade

0

4

954

3,370

95

4,423

210

3.30

2.05

Monroe

0

0

1

24

1

26

2,035

0.34

0.21

Nassau

0

0

3

18

1

22

1,377

0.50

0.31

Okaloosa

0

0

8

40

2

50

1,753

0.40

0.25

Okeechobee

0

0

7

10

1

18

901

0.77

0.48

Orange

1

5

66

419

13

504

841

0.82

0.51

Osceola

1

4

54

325

6

390

262

2.65

1.64

Palm Beach

2

8

102

1,426

19

1,557

398

1.74

1.08

Pasco

0

3

187

493

54

737

276

2.51

1.56

Pinellas

0

2

112

671

77

862

574

1.21

0.75

Polk

1

0

131

410

32

574

447

1.55

0.96

Putnam

0

0

6

14

3

23

1,521

0.46

0.28

Saint Johns

0

1

6

33

4

44

1,701

0.41

0.25

Saint Lucie

0

6

66

219

5

296

395

1.75

1.09

Santa Rosa

0

3

10

1

0

14

4,054

0.17

0.11

Sarasota

0

2

71

288

22

383

546

1.27

0.79

Seminole

1

0

51

171

7

230

722

0.96

0.60

Sumter

0

0

3

11

1

15

2,386

0.29

0.18

Suwannee

0

0

0

1

0

1

16,356

0.04

0.03

Taylor

0

0

0

1

2

3

3,306

0.21

0.13

Union

0

0

0

0

0

0

 n/a

0.00

0.00

Volusia

0

3

106

433

9

551

430

1.61

1.00

Wakulla

0

0

0

3

4

7

1,715

0.40

0.25

Walton

0

0

7

5

1

13

2,879

0.24

0.15

Washington

0

0

0

0

0

0

 n/a

0.00

0.00

 

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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