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Ft Lauderdale Real Estate News 10/10/13


fort lauderdale foreclosure homes down 22% according to RealtyTrac report on South Florida real estate market


Residential foreclosures declined in South Florida in September, but inched up in the third-quarter, according to RealtyTrac Inc.

While the numbers may continue fluctuating, the lengthy foreclosure crisis that crippled the region’s housing market has largely passed, said Daren Blomquist, a vice president of the foreclosure listings firm.

“It’s still a bumpy ride back to normal, but at least now the end is in sight,” he said Wednesday.

RealtyTrac’s report includes new cases, scheduled auctions and bank repossessions.

Broward County had 3,279 filings last month, a 22 percent decline from September 2012. Palm Beach County posted 1,798 filings, a 7 percent drop from a year earlier.

Statewide, September filings fell 22 percent from a year ago.

Third-quarter filings rose 4 percent in both Broward and Palm Beach counties.

A Florida law that took effect July 1 requires lenders to have paperwork in order before they file a case. That may have held down September filings.

“While there may be other factors, I think the new requirements that took effect July 1 are the biggest reason for our substantial decline in filings here,” Palm Beach County Clerk and Comptroller Sharon Bock said in a statement.

© 2013 Sun-Sentinel




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Jim Esposito

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