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831 W. Morse Blvd., Winter Park, Florida 32789

407-740-7379

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Foreclosures Rise: Florida Still No. 2 in U.S.

U.S. foreclosures increased two percent from February to March, rising after several monthly decreases according to RealtyTrac, a national real estate data-supplier.

Florida, Nevada and Illinois posted the highest foreclosure rates for the first quarter, according to RealtyTrac’s March and first quarter U.S. Foreclosure Market Report. Other figures include: 

  • There are 1,445,477 properties in U.S. in foreclosure (default, auction or bank owned) while the number of homes listed for sale on RealtyTrac is 876,006. 
  • In March, the number of properties that received a foreclosure filing in the U.S. was one percent lower than February and 23% lower than the same time in 2012. 
  • Florida had the most foreclosures of any state: one in every 104 housing units, or nearly three times the national average.
  • Florida cities accounted for 7 of the 10 highest metro foreclosure rates, with Miami leading every other metro area in the country for the first quarter. 
  • Other U.S. cities in the top 10 included Las Vegas at number four, with one in every 99 housing units filing.
  • Nevada posted the nation’s highest foreclosure rate in March, surpassing Florida, according to RealtyTrac Inc.
  • One in 306 homes in Nevada was in some stage of foreclosure last month. Florida had the highest rate for six months.

Florida Foreclosure Filings
1 in every 317 housing units received a foreclosure filing

National Foreclosure Filings
1 in every 859 units received a foreclosure filing

Average Florida Foreclosure Sale Price

  • Florida: $129,176
  • Nationally: $189,293

Broward County foreclosure filings increased 23 percent in March from a year ago, RealtyTrac said. Palm Beach County filings fell 40 percent.

The South Florida metro area, which includes Palm Beach, Broward and Miami-Dade counties, had the highest foreclosure rate in the country for the first three months of 2013.

A RealtyTrac spokesman said “although the overall national foreclosure trend continues to head lower, late-blooming foreclosures are higher in some local markets where aggressive foreclosure prevention efforts in previous years are wearing off.”

“Meanwhile, more recent foreclosure prevention efforts in other states have drastically increased the average time to foreclose, which could result in a similar outbreak of delayed foreclosures down the road in those states.”

Foreclosure is a national problem but Florida is the No. 2 state in the U.S. for foreclosures. If you’ve received a foreclosure defense suit, or are involved in a foreclosure, don’t tackle it without an attorney.  There are rules and regulations, negotiations and behaviors by the lender that you should not try to handle on your own. 

Consult with foreclosure attorney Eric Lanigan or Roddy Lanigan of Lanigan and Lanigan located at 831 W. Morse Blvd., Winter Park, Florida, 32789. 

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