Jim Esposito Agent Shot

Jim Esposito

Intercoastal Realty

(954) 336-3776

housing market updates

search florida homes for sale

fort lauderdale real estate news


Like This Blog? Click Here to Share with Your Friends and Colleagues


Help Me CRUSH My Competition

Ft Lauderdale Real Estate News 02/15/14

florida foreclosure activity increases in January but declines 13% year to year

Florida’s January foreclosure activity (all homes in some stage of the foreclosure process) increased 19 percent month-to-month but fell 13 percent year-to-year. According to RealtyTrac, it was the state’s sixth consecutive month for an annual decrease in foreclosure activity.

RealtyTrac credits the higher number of foreclosure auctions to passage of fast track legislation that became effective last summer. However, despite the downward year-to-year trend in foreclosure activity, Florida maintained its rank as No. 1 nationally for foreclosure rates. In Florida, one in every 346 housing units had a foreclosure filing.

Florida foreclosure starts – where a homeowner receives a first notice – jumped 43 percent from December to January, but starts were down 33 percent year-to-year. Scheduled foreclosure auctions increased 28 percent from December and rose 28 percent year-to-year, for their highest monthly level since October 2010 – a 39-month high.

Other states with a high number of foreclosures include Nevada (one in every 533 housing units with a foreclosure filing), Maryland (one in every 543 housing units), Illinois (one in every 603 housing units), New Jersey (one in every 619 housing units), Connecticut (one in every 752 housing units), Delaware (one in every 818 housing units), South Carolina (one in every 850 housing units), Ohio (one in every 885 housing units), and California (one in every 921 housing units).

Metro foreclosure rates

Florida cities also held eight of the top 10 foreclosure rates in January (metropolitan statistical areas with a population of 200,000 or more), led by Port St. Lucie where one in every 211 housing units had a foreclosure filing – more than five times the national average.

Florida metros in the nation’s top 10 include No. 2 Miami (one in every 239 housing units with a foreclosure filing); No. 3 Palm Bay-Melbourne-Titusville (one in every 279 housing units); No. 4 Lakeland (one in every 294 housing units); No. 5 Ocala (one in every 330 housing units); No. 6 Orlando (one in every 358 housing units); No. 7 Tampa (one in every 389 housing units); and No. 9 Jacksonville (one in every 410 housing units).

Orlando and Tampa were the only two top 10 Florida metros where foreclosure activity did not increase from December to January.

National numbers

RealtyTrac says foreclosure activity increased 8 percent in January month-to-month and fell 18 percent year-to-year. Overall, one in every 1,058 U.S. housing units had a foreclosure filing during the month.

January marked the 40th consecutive month where U.S. foreclosure activity declined on an annual basis, but the annual decline of 18 percent was the smallest annual decline since September 2012, and the 8 percent monthly increase was the biggest month-over-month increase since May 2012.

“The monthly increase in January foreclosure activity was somewhat expected after a holiday lull, but the sharp annual increases in some states shows that many states are not completely out of the woods when it comes to cleaning up the wreckage of the housing bust,” says Daren Blomquist, vice president at RealtyTrac.

“The foreclosure rebound pattern is not only showing up in judicial states like New Jersey, where foreclosure activity reached a 40-month high in January, but also some non-judicial states like California, where foreclosure starts jumped 57 percent from a year ago, following 17 consecutive months of annual decreases,” he says.

© 2014 Florida Realtors®


Don't get your hopes up. Lately we have noticed an uptick in foreclosure properties hitting the market, but the long term trend is still heading down.

Perhaps more importantly the foreclosures we have seen coming onto the market are priced higher than comparable properties a couple years ago. Single family homes that might've been priced at $240,000 last year are now around $280,000.

On top of that, we still have a lot of Buyers going after these Foreclosures, so anything decent will draw a lot of interest.

Remember, these foreclosures still trace back to the toxic mortgages issued through that Amok Time of 2003-2005. After the real estate market collapsed and the banks hit the skids lending requirements tightened, so there are a finite number of these distressed properties out there, and we are now starting to see the end at the light of the tunnel.

Click on Image to View
The Metro Home Prices Report
from the National Association of Realtors

foreclosure single family east of Intracoastal

To see the 2012 year end housing data reports
for statewide residential real estate activity
click on the links below:

Single Family 2013

Condos 2013

To see stats in indvidual markets:

Market Sales Activity

To see more great real estate investments go to

Investor Central


Find out more at:


If you are not on the phone to me right now
you are costing yourself money

a high rating realtor I specialize in the location
of the best deal on luxury and waterfront real estate
in ft lauderdale, boca raton and south florida

Jim Esposito

Intercoastal Realty

the best ft lauderdale realtor

(954) 785-8558 Office
(954) 336-3776 Mobile


Great Deals    

Property Search    

Selling Your Home    


Free Lists    

Downtown Ft. Laud    



Income Property    

Investor Central    


Real Estate Blogs    



Client Log In    







The Best
In Town


Click Here!


Accept No Substitutes!



Like My Site?


Click Here


Help Me


My Competition


Updated Weekly!

Click Here!


South Florida
Property Values




snp case-shiller oct hpi a


Click Here!


A Comprehensive and
Intelligent Consideration
of What's Ahead
For The Local
Real Estate Market




Keen Insights
& Analysis
from a
Professional Expert
in the
Local Market


Click Here!


12 Things
You've Got
To Know
Before Buying

Click Here!

Read Our Exclusive
& Informative Guide


How To Buy


1500 East Las Olas Boulevard
Fort Lauderdale, Florida 33301

Jim Esposito

fort lauderdale homes for sale

(954) 785-8558 Office
(954) 336-3776 Mobile


Home  ♦  Selling Your Home  ♦  Property Search  ♦  Great Deals  ♦  Foreclosures  ♦  Income Property  ♦  Investor Central  ♦  R.E. Blogs  ♦  Webcams  ♦  Links  ♦  Contact  ♦  Sitemap