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Florida foreclosure rates take double-digit dip
South Florida Business Journal
Date: Thursday, February 11, 2010, 12:00am EST - Last Modified: Thursday, February 11, 2010, 12:01am ESTForeclosure rates in the Sunshine State fell 15 percent in January from the previous month, but were up 15.45 percent from a year earlier, according to RealtyTrac .
The Irvine, Calif.-based online marketplace for foreclosures found that one in every 187 housing units in Florida received a foreclosure notice in January. Only Nevada, Arizona and California had more.
Utah rounded up the top five. California, Florida and Arizona, which posted the three highest state totals, accounted for more than 44 percent of the nation's foreclosures.
"January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a 10 percent jump in January," RealtyTrac CEO James J. Saccacio said in a news release. "If history repeats itself, we will se a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives works."
In Miami-Dade County, foreclosure filings fell 11.9 percent to 4,628 in January, from 5,253 filings a year earlier. And, filings were down 38.1 percent from December, when there were 7,474 foreclosures filed. In Miami-Dade, one in every 212 homes went into default in January.
It was a different story in Broward County, which was No. 1 in the state in foreclosure filings, with on in every 105 homes in default. There were 7,677 foreclosures filed in January, up 12.95 percent from December, when there were 6,797 flings, and up 74.36 percent from January 2009, when 4,403 foreclosures were filed.
Palm Beach County saw one in every 232 homes fall into default in January. It recorded 2,762 foreclosure filings, up 4.15 percent from December, when there were 2,652 filings, and up 58.37 percent from January 2009, when there were 1,744 filings.
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