FLORIDA FORECLOSURES INCREASE 41 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 13 Percent From a Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – Feb. 25, 2007 – Florida reported 11,709 new foreclosure filings in January, the nation’s third highest foreclosure total and a 41 percent increase from the previous month., according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state reported one new foreclosure filing for every 624 households, the eighth highest foreclosure rate in the nation.

 

RealtyTrac publishes the largest and most comprehensive national database of of pre-foreclosure and foreclosure properties, with over 850,000 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.

 

Florida is starting 2007 where it left off in 2006, among the top three states in terms of new foreclosure filings,” said James J. Saccacio, chief executive officer of RealtyTrac. “Delinquencies were up for subprime mortgages in Florida last year, which is not surprising given that interest rates have already begun to reset on those risky loans that many homeowners in the state utilized to purchase their homes.”

 

Although third highest in the nation, the Sunshine State’s foreclosure total was far behind first place Texas, which documented 14,728 new foreclosure filings. Florida made it to third place by a narrow margin, reporting approximately 150 more filings than fourth place Michigan.

 

Five counties account for more than half of state total

New foreclosure filings in five counties combined accounted for 53 percent of all Florida foreclosure activity in January. Broward County documented the highest total with 2,211 new foreclosure filings for the month. Miami-Dade County documented the second highest total, 1,791 new foreclosure filings. The third highest total was in Brevard County, which reported 825 new foreclosure filings. Hillsborough County documented the fourth highest total, 727 new foreclosure filings, and Palm Beach County rounded out the state’s top five with 680 new filings in the foreclosure pipeline during the month.

 

Brevard County leads state in foreclosure rate

Brevard County tallied Florida’s highest foreclosure rate, one new foreclosure filing for every 269 households — 2.3 times the state average and 3.3 times the national average. Flagler County came in second highest, reporting a rate of one new foreclosure filing for every 275 households — 2.3 times the state average and 3.2 times the national average. Broward County reported the third highest rate, one new foreclosure filing for every 335 households — 1.9 times the state average and 2.6 times the national average. Saint Lucie County reported the state’s fourth highest foreclosure rate, one new foreclosure filing for every 387 households— 1.6 times the state average and 2.3 times the national average.

 

State makes significant contribution to national total

Florida accounted for 9 percent of the 130,511 new foreclosure filings nationwide in January. The national total was up 19 percent from the previous month and up 25 percent from January 2006. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 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: 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

Florida

107

15

1,801

9,362

424

11,709

624

1.42

n/a

 

 

 

 

 

 

 

 

 

 

Alachua

0

0

16

88

3

107

889

1.00

0.70

Baker

0

0

2

2

0

4

1,898

0.47

0.33

Bay

2

0

10

60

4

76

1,032

0.86

0.60

Bradford

0

0

0

5

3

8

1,201

0.74

0.52

Brevard

7

1

97

680

40

825

269

3.29

2.32

Broward

8

3

249

1,942

9

2,211

335

2.64

1.86

Calhoun

0

0

0

3

0

3

1,750

0.51

0.36

Charlotte

3

0

21

65

2

91

876

1.01

0.71

Citrus

1

1

8

84

12

106

587

1.51

1.06

Clay

0

0

5

106

5

116

463

1.91

1.35

Collier

2

0

13

248

1

264

547

1.62

1.14

Columbia

0

1

2

6

1

10

2,358

0.38

0.26

De Soto

0

0

1

10

0

11

1,237

0.72

0.50

Duval

3

1

81

479

66

630

523

1.69

1.19

Escambia

2

0

40

92

8

142

878

1.01

0.71

Flagler

2

0

1

84

2

89

275

3.22

2.27

Franklin

0

0

1

2

0

3

2,393

0.37

0.26

Gadsden

0

0

0

3

0

3

5,901

0.15

0.11

Gilchrist

0

0

0

4

0

4

1,274

0.70

0.49

Glades

0

0

0

1

0

1

5,790

0.15

0.11

Gulf

0

0

0

0

0

0

n/a 

0.00

0.00

Hamilton

0

0

0

1

0

1

4,966

0.18

0.13

Hardee

0

0

0

4

0

4

2,455

0.36

0.25

Hendry

0

0

0

2

0

2

6,147

0.14

0.10

Hernando

0

1

5

121

4

131

479

1.85

1.30

Highlands

0

0

5

17

1

23

2,124

0.42

0.29

Hillsborough

5

0

164

481

77

727

586

1.51

1.07

Holmes

0

0

0

0

0

0

n/a 

0.00

0.00

Indian River

3

0

10

32

1

46

1,259

0.70

0.50

Jackson

0

0

0

8

0

8

2,436

0.36

0.26

Jefferson

0

0

0

4

1

5

1,050

0.84

0.59

Lafayette

0

0

0

0

1

1

2,660

0.33

0.23

Lake

0

0

12

96

9

117

879

1.01

0.71

Lee

4

0

16

191

7

218

1,126

0.79

0.55

Leon

0

0

18

50

4

72

1,444

0.61

0.43

Levy

0

0

0

9

0

9

1,841

0.48

0.34

Liberty

0

0

0

0

1

1

3,156

0.28

0.20

Madison

0

0

0

0

0

0

n/a 

0.00

0.00

Manatee

0

2

19

96

6

123

1,123

0.79

0.56

Marion

2

0

4

85

10

101

1,214

0.73

0.51

Martin

0

0

7

39

2

48

1,364

0.65

0.46

Miami-Dade

13

2

371

1,376

29

1,791

476

1.86

1.31

Monroe

2

0

0

25

1

28

1,843

0.48

0.34

Nassau

0

0

0

14

2

16

1,620

0.55

0.39

Okaloosa

2

1

12

22

5

42

1,871

0.47

0.33

Okeechobee

0

0

0

2

3

5

3,101

0.29

0.20

Orange

5

1

66

342

9

423

873

1.01

0.71

Osceola

4

0

14

95

5

118

613

1.45

1.02

Palm Beach

9

1

45

613

12

680

818

1.08

0.76

Pasco

6

0

39

203

17

265

653

1.36

0.95

Pinellas

5

0

108

274

17

404

1,192

0.74

0.52

Polk

4

0

86

192

10

292

775

1.14

0.80

Putnam

1

0

7

7

3

18

1,882

0.47

0.33

Saint Johns

0

0

3

52

1

56

1,036

0.86

0.60

Saint Lucie

5

0

17

213

1

236

387

2.29

1.61

Santa Rosa

1

0

20

94

4

119

413

2.15

1.51

Sarasota

0

0

57

215

8

280

652

1.36

0.96

Seminole

1

0

59

193

10

263

559

1.58

1.12

Sumter

0

0

4

9

0

13

1938

0.46

0.32

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

3

0

81

189

5

278

762

1.16

0.82

Wakulla

0

0

0

11

0

11

893

0.99

0.70

Walton

2

0

2

17

1

22

1,322

0.67

0.47

Washington

0

0

3

4

1

8

1,188

0.75

0.53

 

 

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 1.3 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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