Monday, 20 April 2015

Russ Whitney promotes-Foreclosure Activity in Florida Set in March

The activity in South Florida mirrors a national trend in foreclosure increases.It was because of a jump in bank repossessions of homes.The firm found 6,329 foreclosure filings in area, up from 4,577 filings in February. A filing counts as a new foreclosure lawsuit, a judgment or a repossession.

The March increase is continued cleanup of distress still lingering from the previous housing crisis.Some of most stubborn foreclosure cases are finally being flushed out of the foreclosure pipeline, and we would expect to see more noise in the numbers over the next few months as national foreclosure activity makes its way back to more stable patterns by the end of this year.

This is as healthy a market as we have seen since the boom. We wrote $400 million in real estate contracts during the quarter, which was the second strongest March in our 89-year history with only March 2005 beating these numbers.

3,169 foreclosure filings in March, up 58 percent from February and up 68 percent from March 2014.
1,872 foreclosure filings in March, up 29 percent from February but down 49 percent from March 2014.
1,288 foreclosure filings in March, up 16 percent from February but down 21 percent from March 2014.

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