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News Article Details
Date: 01/27/2011
Title: Orlando No. 9 in 2010 foreclosure rate

Orlando had the ninth-highest foreclosure rate in 2010 among the top 206 metropolitan areas with 61,674 filings, according to RealtyTrac, which tracks default, auction and bank-owned listings across the U.S.>

Las Vegas held the top spot, with the Cape Coral-Fort Meyers area at No. 2 and Miami-Fort Lauderdale-Pompano Beach area at No. 5. Deltona-Daytona Beach-Ormond Beach came in at No. 13 on the RealtyTrac list, and Tampa-St. Petersburg-Clearwater was No. 17.

Although foreclosure filings across the U.S. were up 1.67 percent in 2010 compared to 2009 and up 23.23 percent from those filed in 2008, the report on Orlando was mixed. Foreclosures filed in 2010 were down 14.51 percent from those filed in 2009, but up 31.66 from the number filed in 2008.>

“Foreclosure floodwaters receded somewhat in 2010 in the nation’s hardest-hit housing markets,” said James J. Saccacio, chief executive officer of RealtyTrac.

However, he warned of an increase in activity because foreclosure levels remained five to 10 times higher than historic norms in most of those hard-hit markets.

Although homes sales were up nearly 20 percent in Orlando in 2010 when compared to a year earlier, the median value of the homes sold in December was $106,000, $14,000 lower than the same period a year ago.

Source: Biz Journals
To see the source article, click here.*

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