FLORIDA FORECLOSURES INCREASE LESS THAN 1 PERCENT IN APRIL

Activity Up 71 Percent From a Year Ago; Foreclosure Rate in Nation’s Top 10

 

IRVINE, Calif. – May 18, 2007 – Florida reported 14,318 foreclosure filings in April, an increase of less than 1 percent from the previous month, but still a 71 percent increase from April 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state’s foreclosure rate of one new foreclosure filing for every 510 households was the nation’s seventh highest.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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.

 

“Although the state total this month was only a slight uptick from March, overall Florida continues the trend started last year, remaining among the  nation’s top three states for foreclosure activity,” said James J. Saccacio, chief executive officer of RealtyTrac. “Due to excessive use of risky adjustable rate mortgages, combined with increased property taxes, rising insurance premiums and rising interest rates many Florida homeowners are in peril of losing their homes to foreclosure.”

 

Five counties combine for more than half of state total

The combined total foreclosure filings for five counties accounted for 56 percent of all Florida foreclosure activity in April. Miami-Dade County led all counties with 3,120 foreclosure filings for the month. Broward County registered the second highest total, reporting 2,690 foreclosure filings. Palm Beach County reported the third highest total with 774 foreclosure filings. Lee County posted the fourth highest total with 749 foreclosure filings. Hillsborough County reported the fifth highest county total with 736 filings in the foreclosure pipeline during the month.

 

Osceola County reports highest foreclosure rate in state

Osceola County tallied the state’s highest foreclosure rate for April, documenting one foreclosure filing for every 187 households — 2.7 times the state average and 4.2 times the national average. Miami-Dade County had the second highest rate with one new foreclosure filing for every 273 households — 1.9 times the state average and 2.9 times the national average. Broward County came in third, reporting a rate of one foreclosure filing for every 275 households — 1.9 times the state average and 2.8 times the national average. Flagler County reported the fourth highest rate — one new foreclosure filing for every 313 households — 1.6 times the state average and 2.5 times the national average. Lee County had the fifth highest rate with one foreclosure filing for every 328 households — 1.6 times the state average and 2.4 times the national average.

 

State makes significant contribution to national total

Total new foreclosure filings in Florida accounted for 10 percent of the 147,708 filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Florida

0

31

2,424

11,207

656

14,318

510

1.53

n/a

 

 

 

 

 

 

 

 

 

 

Alachua

0

0

18

42

6

66

1,441

0.54

0.35

Baker

0

0

0

2

0

2

3,796

0.21

0.13

Bay

0

2

2

31

4

39

2,011

0.39

0.25

Bradford

0

0

0

2

1

3

3,202

0.24

0.16

Brevard

0

1

101

266

10

378

587

1.33

0.87

Broward

0

2

361

2,139

188

2,690

275

2.84

1.85

Calhoun

0

0

0

0

0

0

n/a 

0.00

0.00

Charlotte

0

1

17

98

9

125

638

1.23

0.80

Citrus

0

0

11

22

2

35

1,777

0.44

0.29

Clay

0

0

7

69

7

83

648

1.21

0.79

Collier

0

0

12

100

4

116

1,246

0.63

0.41

Columbia

0

0

1

2

1

4

5,895

0.13

0.09

De Soto

0

0

0

11

0

11

1,237

0.63

0.41

Dixie

0

0

0

0

0

0

n/a 

0.00

0.00

Duval

0

1

219

414

47

681

484

1.62

1.05

Escambia

0

1

21

70

12

104

1,199

0.65

0.43

Flagler

0

0

4

61

13

78

313

2.50

1.63

Franklin

0

0

0

4

0

4

1,795

0.44

0.28

Gadsden

0

0

1

10

5

16

1,106

0.71

0.46

Gilchrist

0

0

1

1

0

2

2,548

0.31

0.20

Glades

0

0

0

0

0

0

n/a 

0.00

0.00

Gulf

0

0

0

0

2

2

3,794

0.21

0.13

Hamilton

0

0

0

0

0

0

n/a 

0.00

0.00

Hardee

0

0

2

3

0

5

1,964

0.40

0.26

Hendry

0

0

1

11

6

18

683

1.15

0.75

Hernando

0

0

33

134

5

172

365

2.15

1.40

Highlands

0

0

2

14

1

17

2,873

0.27

0.18

Hillsborough

0

2

78

630

26

736

579

1.35

0.88

Holmes

0

0

0

1

0

1

7,998

0.10

0.06

Indian River

0

0

0

46

1

47

1,232

0.64

0.41

Jackson

0

0

5

7

2

14

1,392

0.56

0.37

Jefferson

0

0

1

0

0

1

5,251

0.15

0.10

Lafayette

0

0

0

0

0

0

n/a 

0.00

0.00

Lake

0

0

16

101

6

123

836

0.94

0.61

Lee

0

2

90

625

32

749

328

2.39

1.56

Leon

0

0

6

31

6

43

2,418

0.32

0.21

Levy

0

0

1

0

1

2

8,285

0.09

0.06

Liberty

0

0

0

1

1

2

1,578

0.50

0.32

Madison

0

0

0

1

1

2

3,918

0.20

0.13

Manatee

0

0

49

162

11

222

622

1.26

0.82

Marion

0

1

20

114

7

142

864

0.91

0.59

Martin

0

0

9

33

2

44

1,488

0.53

0.34

Miami-Dade

0

3

657

2,393

67

3,120

273

2.87

1.87

Monroe

0

0

1

22

0

23

2,244

0.35

0.23

Nassau

0

0

14

16

1

31

836

0.94

0.61

Okaloosa

0

0

9

49

2

60

1,310

0.60

0.39

Okeechobee

0

0

0

1

0

1

15,504

0.05

0.03

Orange

0

2

53

535

21

611

591

1.32

0.86

Osceola

0

0

104

278

4

386

187

4.18

2.72

Palm Beach

0

0

55

703

16

774

719

1.09

0.71

Pasco

0

3

57

288

28

376

462

1.69

1.10

Pinellas

0

3

113

474

17

607

793

0.99

0.64

Polk

0

1

54

338

21

414

547

1.43

0.93

Putnam

0

0

8

12

2

22

1,540

0.51

0.33

Saint Johns

0

0

15

57

2

74

784

1.00

0.65

Saint Lucie

0

3

24

135

12

174

524

1.49

0.97

Santa Rosa

0

0

7

78

12

97

506

1.55

1.01

Sarasota

0

1

56

235

15

307

594

1.32

0.86

Seminole

0

0

43

97

8

148

994

0.79

0.51

Sumter

0

0

2

6

0

8

3,149

0.25

0.16

Suwannee

0

0

0

1

0

1

15,679

0.05

0.03

Taylor

0

0

0

1

0

1

9,646

0.08

0.05

Union

0

0

0

0

0

0

n/a 

0.00

0.00

Volusia

0

0

58

206

6

270

785

1.00

0.65

Wakulla

0

0

2

10

1

13

755

1.04

0.68

Walton

0

2

2

8

1

13

2,237

0.35

0.23

Washington

0

0

1

6

1

8

1,188

0.66

0.43

 

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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