Orlando sees big drop off in foreclosures
Feb
10
2011
10
2011
By Anjali Fluker - Orlando Business Journal
The Orlando area saw a significant decline in foreclosures last month when compared with the year and month prior, said a new report for RealtyTrac Inc.
Metro Orlando - which includes Lake, Orange, Osceola and Seminole counties - posted 2,289 foreclosures in January, or one in every 396 households, reported the Irvine, Calif.-based online research firm. That was a 63.6 percent decline when compared with the 6,282 foreclosure filings in January 2011 and a 30 percent decline from the 3,272 filings reported in December.
Foreclosure filings include default notices, auction notices and bank repossessions.
The Orlando area had the 48th highest foreclosure among the nation's largest metro areas, down from No. 30 in December.
Among the counties, Seminole had the largest decline in foreclosure filings when compared to the prior year at 76 percent - from 1,201 filings in January 2010 to 286 last month.
However, Florida still ranked No. 2 in the nation for foreclosure activity, with 21,671 properties receiving a filing last month, despite hitting a 42-month low.
Nationwide, foreclosure activity was up 1 percent last month when compared with December 2010.
Listing Courtesy of Real Estate Options, LLC
