Foreclosures Down in US, But not in Florida

Published by Lance Mohr | Filed under Foreclosures

On the average, nationwide foreclosures are down 10% in the month of January; not a bad start for the realty business.  Though it is a positive sign, foreclosure is still a bad word in Florida.  Replacing Arizona as third on the worst list, Florida’s 40,000+ foreclosures may create a large increase in home vacancies across the state, a -19.76% difference from 12/08 (information provided by RealtyTrac).  This may be a sign of things to come for the “Sunshine State.”  It is predicted the number will increase before steadying, but the light at the end of the tunnel may be closer than expected.  This year will prove to be one of impact, either restoring faith in an ailing system or plummet even lower before a solution is found.  Let us hope for the former.  Meanwhile, banks and homeowners alike, struggle to find a solution to the issue at hand.

If you have any questions about Tampa foreclosures and bank owned homes please do not hesitate to give us a call.

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