Florida Foreclosure Latest Figures!

According to ForeclosureListings.com rates were down again in many states in November compared with the previous month, suprisingly foreclosure prices were up.

Comparing rates and sale price figures from  offers a good economic snapshot of the current housing market.

Here are results for Florida  to demonstrate the change from October to November. Florida, rates were down 8.94%.

Lets Now Look At  The Recorded Florida Foreclosure Sale Prices...

 From October to November average prices in  Florida,  went from $228,602.00 to $232,249.00, a 1.6% increase. In Miami, prices went from $114,258.00 to $125,015.00, a 9.41% increase.

Lets us help you find a HOT deal with Florida foreclosure

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 Foreclosure Activity Decreases Across USA In May

Despite a decrease of 6% in May foreclosure rates across the US, Florida foreclosure rates still rank as one of the top for foreclosure across the country. In fact Florida posted the third highest state foreclosure rate in May, with one in every 148 housing units receiving a foreclosure filing during the month, according to RealtyTrac

Florida cities accounted for three of the top 10 spots:

• Cape Coral-Fort Myers at No. 6 (one in 82 housing units)
• Orlando-Kissimmee at No. 8 (one in 101)
• Miami-Fort Lauderdale-Pompano Beach at No. 10 (one in 105)

Troy Bohlke, CEO of Niche Focus Group, an Advertising firm specializing in creating Real Estate investment packages for Real Estate Funds' predicts Sunbelt States Most Likely to Rebound First In Real Estate Downturn.

Saccacio of RealtyTrac says

"Sales activity appears to be increasing in some of the hardest hit markets as home prices have fallen to levels that are attractive to first-time homebuyers and investors.

45% of the transactions were distressed sales, foreclosures and short sales, which lead to the decline in the median price. However, these price drops lead to the largest gain in sales volume for the fourth quarter particularly in the Sunbelt states; Nevada, up 133.7 percent, followed by California, rose 84.7 percent, Arizona, up 42.6 percent and Florida with a 12.5 percent increase. "

How Do They Get Their Figures?
The Report provides a count of the total number of properties with at least one foreclosure filing reported during the month -- broken out by type of filing at:

• state 
• national level
• Data is also available at the individual county level.

1. Default -- Notice of Default (NOD)
2. Lis Pendens (LIS)
3. Auction -- Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS)
4. Real Estate Owned, or REO properties ( been foreclosed on and repurchased by a bank).

 If more than one foreclosure document is filed against a property during the month or quarter, only the most recent filing is counted in the report.

The report also checks if the same type of document was filed against a property in a previous month or quarter. If so, and if that previous filing occurred within the estimated foreclosure time frame for the state the property is in, the report does not count the property in the current month.

               U.S. Foreclosure Market Data by State - May 2009

                                    Properties with Foreclosure Filings
  Rate  State
  Rank  Name                   NOD      LIS      NTS      NFS      REO
   --  U.S.                   55,442   67,687  100,578   32,756   65,017
       ----
  30  Alabama                      1        0    1,567        0      399
  35  Alaska                       6        0      132        0       53
   4  Arizona                      9        0   12,103        0    4,753
  22  Arkansas                   126        0    1,169        0      376
   2  California              43,294        0   35,900        0   13,055
   8  Colorado                     4        0    3,708        0    1,164
  33  Connecticut                  0      778        0       91      237
  28  Delaware                     0        0        0      328       58
      District of Columbia        77        0      187        0       35
   3  Florida                      0   39,523        0   13,363    6,045
   7  Georgia                      1        0    6,883        0    3,632
  15  Hawaii                     279        0      476        0       61
   9  Idaho                      886        0      496        0       62
  11  Illinois                     0    3,139        0    4,827    2,976
  13  Indiana                      0    1,784        0    2,033    1,141
  41  Iowa                         0        0      237        0      398
  34  Kansas                       0      177        0      399      323
  38  Kentucky                     0      295        0      579      204
  40  Louisiana                    0        4        0      748      189
  42  Maine                        0       65        0      231       29
  17  Maryland                     0    2,737        0      314      488
  20  Massachusetts                0    2,278        0      755      588
   6  Michigan                     0        0    7,645        0    6,246
  23  Minnesota                    6        0    1,857        0    1,086
  43  Mississippi                  0        0      409        0       25
  26  Missouri                     1        0    1,835        0      960
  48  Montana                      0        0        1        0       36
  45  Nebraska                     0      146        0        2       21
   1  Nevada                   8,876        0    5,230        0    3,051
  25  New Hampshire                0        0      613        0      114
  24  New Jersey                   0    2,793        0    1,095      520
  29  New Mexico                   0      497        0      207       92
  37  New York                     0    3,523        0      764      538
  36  North Carolina             463        0    1,078        0    1,046
  49  North Dakota                 0        1        0       10       12
  10  Ohio                         0    4,289        0    4,009    3,062
  39  Oklahoma                   190        0      509        0      178
  12  Oregon                      78        0    2,276        0      713
  32  Pennsylvania                 0    1,844        0    1,633      899
  31  Rhode Island                 0        0      230        0      169
  16  South Carolina               0    1,962        0      341      789
  47  South Dakota                 0        0        0       32        6
  21  Tennessee                    0        0    2,091        0    1,478
  27  Texas                       24        0    6,041        0    3,748
   5  Utah                     1,117        0    1,014        0      796
  50  Vermont                      0        0        1        0        5
  14  Virginia                     3        0    4,221        0    1,161
  18  Washington                   0        0    2,531        0    1,302
  46  West Virginia                0        0       80        0       21
  19  Wisconsin                    0    1,852        0      995      655
  44  Wyoming                      1        0       58        0       22


                                    Properties with Foreclosure Filings
                                              1/every  %Change  %Change
  Rate  State                                   X HU    from      from
  Rank  Name                       Total       (rate)  Apr 09    May 08
   -- U.S.                        321,480        398    -6.01     17.76
      ----
  30 Alabama                        1,967      1,086   -14.77   292.61*
  35 Alaska                           191      1,478   -19.07     11.70
   4 Arizona                       16,865        158     3.82     31.04
  22 Arkansas                       1,671        770   -10.35     25.92
   2 California                    92,249        144    -4.46     22.81
   8 Colorado                       4,876        436   -11.26    -14.98
  33 Connecticut                    1,106      1,301   -49.13    -32.15
  28 Delaware                         386      1,007   107.53     45.66
     District of Columbia             299        951   -24.87    -23.53
   3 Florida                       58,931        148    -8.76     50.40
   7 Georgia                       10,516        377    -8.72     -1.27
  15 Hawaii                           816        621    19.30    397.56
   9 Idaho                          1,444        437   -41.73     72.32
  11 Illinois                      10,942        479   -19.82      9.50
  13 Indiana                        4,958        560    -1.22     -0.04
  41 Iowa                             635      2,094     0.63     42.70
  34 Kansas                           899      1,356    14.23     31.24
  38 Kentucky                       1,078      1,768    20.99    43.73*
  40 Louisiana                        941      1,976   -16.36     34.24
  42 Maine                            325      2,143    31.05     34.30
  17 Maryland                       3,539        655    -2.05     50.92
  20 Massachusetts                  3,621        752   -31.09    -45.48
   6 Michigan                      13,891        326    28.26     -4.72
  23 Minnesota                      2,949        781   -16.86     22.47
  43 Mississippi                      434      2,891    29.55    134.59
  26 Missouri                       2,796        947     3.63   -43.96+
  48 Montana                           37     11,771   -39.34    -73.19
  45 Nebraska                         169      4,620    43.22    -48.79
   1 Nevada                        17,157         64     5.48     82.70
  25 New Hampshire                    727        817   -29.76      6.44
  24 New Jersey                     4,408        794   -12.44    -41.44
  29 New Mexico                       796      1,083    11.64    75.33*
  37 New York                       4,825      1,646   -13.70     -8.65
  36 North Carolina                 2,587      1,595   -16.06    -34.98
  49 North Dakota                      23     13,502   -37.84      9.52
  10 Ohio                          11,360        446    -7.82    -12.57
  39 Oklahoma                         877      1,851   -25.49    -28.99
  12 Oregon                         3,067        525   -20.07     89.79
  32 Pennsylvania                   4,376      1,252   -13.33    34.98*
  31 Rhode Island                     399      1,130   -28.24    -26.65
  16 South Carolina                 3,092        654    33.91   121.17*
  47 South Dakota                      38      9,401   123.53     26.67
  21 Tennessee                      3,569        763     2.85  -23.16++
  27 Texas                          9,813        961   -13.27     -5.65
   5 Utah                           2,927        316    -1.41    115.06
  50 Vermont                            6     51,906   200.00    100.00
  14 Virginia                       5,385        608   -13.90     2.26+
  18 Washington                     3,833        716    14.11     48.28
  46 West Virginia                    101      8,739   -30.34    140.48
  19 Wisconsin                      3,502        731    -9.30    74.14*
  44 Wyoming                           81      2,992   -14.74     32.79

  *Actual increase may not be as high due to data collection changes or
  improvements

  + Collection of some records previously classified as NOD in this state
  was discontinued starting in January 2009

  ++ Collection of some records previously classified as NOD in this state
  was discontinued starting in September 2008

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Help  Available To Avoid The Pitfalls

Of Foreclosure And Loan Modification!

The past 2 years have developed a  meltdown in real estate values and sales. This has generated confusing options for property owners fearful of losing their homes as they fall behind in mortgage payments.

There is  growing "fashion" of mortgage modifications: the simple-sounding but complex process of working with lending institutions to decrease mortgage principals or interest rates, or extend the time for mortgage loan repayment, all of which decrease the financial burden on homeowners. This can be a good solution for some, at worst, it is a scam that can plunge desperate homeowners  into even deeper mortgage debt.

The fact it can be a scam is highlighted by the recent suing by the Florida Attorney General. That case involves a Company Targeting Hispanic Community with Foreclosure Rescue Fraud. A copy of the lawsuit is available here.

Bona Fide Assistance!

One well-known Tampa Bay law firm, www.YesnerBoss.com, which specializes in helping clients avoid Florida foreclosure and stay in their homes, has recognized the growing trend of mortgage modifications and the threat of consumers falling prey to fraud!

Shawn Yesner, managing partner in the firm says,

"Our goal for our clients is to make it possible for them to keep their homes with an affordable modification, or at least to reduce or eliminate their liability under their loans. We don't want to add to their financial burdens, so we keep our rates low, much lower than fees demanded by 'foreclosure-rescue' scammers. Our work always includes legal services provided by a Florida-licensed attorney who specializes in foreclosure issues."

 Meanwhile Chase officially opens its new face-to-face home ownership centers in South Florida to help families struggling with their mortgage payments. Chase will have loan counselors in five centers in Florida to help borrowers who have a home loan serviced by Chase, Washington Mutual or EMC – all now part of JPMorgan Chase. Chase now has a total of 24 centers around the country. These clinics are on, 9 to 11 a.m. Tuesday, March 24, 2009. Chase Homeownership Center, 20803 Biscayne Blvd, Aventura, 33180.

How To Spot A Fraudster

• Any time a company guarantees results, it should raise a huge red flag!
• Florida law requires that homeowners be given certain disclosure documents. If they aren't provided, that should be a huge red flag.

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