APRIL 29, 2013 by ge.admin
FLORIDA FORECLOSURE HIGHEST IN NATION
In the first quarter of 2013, nationwide foreclosure rates continue to drop. Florida however, announced a 7% increase from the previous quarter and was up 17 percent from the first quarter of 2012. Florida has the highest foreclosure rate at three times the national average. Among U.S. cities and regions, seven of ten areas with the highest foreclosure rates were in Florida, with Brevard County at the number eight position according to RealtyTrac.
Q1’13 NATIONAL TOP TEN METRO FORECLOSURE RATES
- Miami, FL – 1 out of 79 housing units
- Orlando, FL – 1 out of 86 housing units
- Ocala, FL – 1 out of 92 housing units
- Las Vegas, NV – 1 out of 99 housing units
- Tampa, FL – 1 out of 100 housing units
- Rockford, IL – 1 out of 102 housing units
- Jacksonville, FL – 1 out of 105 housing units
- Palm Bay-Melbourne-Titusville, FL – 1 out of 109 housing units
- Chicago, IL – 1 out of 116 housing units
- Lakeland, FL – 1 out of 128 housing units
This trend has been holding strong for the past three months. Statewide layoffs have certainly taken a toll on the market, though it has begun to turn around for the better. So what does this mean for those interested in Florida real estate? Many investment properties are on the market, giving investors and snowbirds a great opportunity to expand their horizons. These numbers are also promising for those looking to move to Brevard County.
Shoppers who are willing to look at foreclosed homes understand that they have the potential to purchase property at deep discounts. With such great tools as Ellingson Properties’ Brevard MLS foreclosure tool, finding foreclosed properties is easier than ever. As foreclosure rates stay high in Brevard County, now is a great time to buy.