FLORIDA FORECLOSURES DECREASE 11 PERCENT IN DECEMBER

State Foreclosure Activity Ranks Third in the Nation

 

IRVINE, Calif. – Jan. 15, 2007 – Foreclosure activity in Florida slowed down significantly in December, making it now the state with the third highest foreclosure total in the nation after two straight months in second place. Reporting 8,321 properties entering some stage of the foreclosure process during the month, the state total is down 11 percent from the 9,362 properties reported in November, but is still up 4 percent from the 8,050 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.

 

“Although Florida’s foreclosure activity has slowed recently, the state is still in the nation’s top three for total foreclosures,” said James J. Saccacio, chief executive officer of RealtyTrac. “Employment and tourism are up statewide, helping the economy stay afloat. But 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 high activity level.”

 

Total foreclosures in Florida were 4,300 less than second place California and nearly 5,800 less than national leader Texas for the month. The rest of the states rounding out the nation’s top 10 highest foreclosure totals include Ohio, Illinois, Michigan, Georgia, Colorado, Massachusetts and New York. Reporting one new foreclosure filing for every 878 households — 1.2 times the national average — the Sunshine state ranked 13th nationally in terms of foreclosure rate for December.

 

Four counties account for largest share of state total

Foreclosures in four counties combined accounted for 49 percent of all foreclosures in the state for December. Miami-Dade County tallied the largest single total, reporting 1,833 properties entering some stage of the foreclosure process. Broward County documented the second highest total with 819 properties in foreclosure. Hillsborough County came in third, reporting 708 properties in foreclosure. And Pinellas County documented the fourth highest total, reporting 705 properties in the foreclosure pipeline.

 

Flagler County leads state in foreclosure rate for December

Flagler County reported the state’s highest foreclosure rate for the month, with one new foreclosure filing for every 408 households — 2.2 times the state average and 2.6 times the national average. Miami-Dade County’s foreclosure rate of one new filing for every 465 households — 1.9 times the state average and 2.3 times the national average — was the state’s second highest. Polk County came in third, reporting one new filing for every 508 households — 1.7 times the state average and 2.1 times the national average.

 

Florida a significant contributor to nation’s total activity

Foreclosure activity in Florida accounted for nearly 8 percent of the 109,652 properties entering some stage of foreclosure nationwide in December. The national total represents a decrease of 9 percent from the 120,334 foreclosures reported in November. The national foreclosure rate decreased to one new foreclosure filing for every 1,055 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 – December 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

n/a

n/a

Florida

0

16

1,224

6,826

255

8,321

878

1.20

n/a

 

 

 

 

 

 

 

 

 

 

Alachua

0

0

6

15

0

21

4,529

0.23

0.19

Baker

0

0

0

1

1

2

3,796

0.28

0.23

Bay

0

0

2

30

6

38

2,064

0.51

0.43

Bradford

0

0

0

0

1

1

9,605

0.11

0.09

Brevard

0

0

27

9

0

36

6,169

0.17

0.14

Broward

0

2

122

687

8

819

905

1.17

0.97

Calhoun

0

0

0

0

0

0

n/a 

0.00

0.00

Charlotte

0

0

21

54

1

76

1,049

1.00

0.84

Citrus

0

0

5

19

2

26

2,392

0.44

0.37

Clay

0

1

12

45

9

67

802

1.31

1.09

Collier

0

0

11

67

2

80

1,807

0.58

0.49

Columbia

0

0

0

3

0

3

7,860

0.13

0.11

De Soto

0

0

1

10

1

12

1,134

0.93

0.77

Duval

0

2

81

75

5

163

2,023

0.52

0.43

Escambia

0

1

18

75

9

103

1,210

0.87

0.73

Flagler

0

0

2

52

6

60

408

2.59

2.15

Franklin

0

0

0

0

0

0

n/a 

0.00

0.00

Gadsden

0

0

0

14

4

18

984

1.07

0.89

Gilchrist

0

0

0

3

0

3

1,699

0.62

0.52

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

1

1

1

0

3

3,273

0.32

0.27

Hendry

0

0

0

6

0

6

2,049

0.51

0.43

Hernando

0

0

10

76

8

94

667

1.58

1.32

Highlands

0

0

5

22

3

30

1,628

0.65

0.54

Hillsborough

0

0

109

550

49

708

602

1.75

1.46

Holmes

0

0

0

0

0

0

n/a 

0.00

0.00

Indian River

0

0

9

38

3

50

1,158

0.91

0.76

Jackson

0

0

0

7

3

10

1,949

0.54

0.45

Jefferson

0

0

1

4

2

7

750

1.41

1.17

Lafayette

0

0

0

0

0

0

n/a 

0.00

0.00

Lake

0

0

10

130

5

145

709

1.49

1.24

Lee

0

0

20

283

9

312

787

1.34

1.12

Leon

0

1

10

47

4

62

1,677

0.63

0.52

Levy

0

0

0

1

0

1

16,570

0.06

0.05

Madison

0

0

0

0

0

0

n/a 

0.00

0.00

Manatee

0

0

20

146

2

168

822

1.28

1.07

Marion

0

0

7

67

3

77

1,593

0.66

0.55

Martin

0

0

6

51

2

59

1,110

0.95

0.79

Miami-Dade

0

2

277

1,523

31

1,833

465

2.27

1.89

Monroe

0

0

2

38

1

41

1,259

0.84

0.70

Nassau

0

0

2

20

0

22

1,178

0.90

0.75

Okaloosa

0

0

3

40

0

43

1,828

0.58

0.48

Okeechobee

0

0

0

3

2

5

3,101

0.34

0.28

Orange

0

0

46

359

3

408

905

1.16

0.97

Osceola

0

0

8

65

0

73

990

1.06

0.89

Palm Beach

0

1

70

515

8

594

937

1.13

0.94

Pasco

0

0

37

179

15

231

750

1.41

1.17

Pinellas

0

0

75

622

8

705

683

1.54

1.29

Polk

0

0

47

385

14

446

508

2.08

1.73

Putnam

0

0

3

7

3

13

2,605

0.40

0.34

Saint Johns

0

0

2

20

0

22

2,637

0.40

0.33

Saint Lucie

0

2

3

101

3

109

837

1.26

1.05

Santa Rosa

0

0

8

2

0

10

4,912

0.21

0.18

Sarasota

0

0

31

97

4

132

1,382

0.76

0.64

Seminole

0

0

40

71

9

120

1,226

0.86

0.72

Sumter

0

0

0

3

0

3

8,398

0.13

0.10

Suwannee

0

0

0

0

0

0

n/a 

0.00

0.00

Taylor

0

0

0

1

1

2

4,823

0.22

0.18

Union

0

0

0

0

0

0

n/a 

0.00

0.00

Volusia

0

2

53

168

2

225

942

1.12

0.93

Wakulla

0

0

0

10

1

11

893

1.18

0.98

Walton

0

1

1

9

2

13

2,237

0.47

0.39

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 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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