Florida One of Top 4 States in Foreclosure Filings

Florida, California, Nevada and Arizona continued to lead the nation in the most residential foreclosures from January through June of this year.

According to RealtyTrac, the leading statistical source for foreclosure data, 154 of the 206 U.S. metropolitan areas with a population of 200,000 or more posted year-over-year increases in foreclosure activity, even while foreclosure activity decreased in nine of the 10 metros with the highest foreclosure rates.

Florida, California, Nevada and Arizona accounted for all top 20 metro foreclosure rates. Florida led the way, with nine of the top 20 metro foreclosure rates, followed by California with eight, Nevada with two and Arizona with one.

James J. Saccacio, chief executive officer of RealtyTrac, said, "If unemployment remains persistently high and foreclosure prevention efforts only delay the inevitable, then we could continue to see increased foreclosure activity and a corresponding weakness in home prices in many metro areas."

The good news is that the Daytona-Ormond Beach area was not in the top tier. The bad news is the Orlando-Kissimmee market was #8.

There are always two sides to bad news. This is great for buyers, who are finally discovering the low prices and bargains available in Ormond Beach for waterfront and canalfront homes.

Contact me for some ideas on how you can take advantage of this market.

Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
www.daytonabeachscene.com