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OCTOBER 22, 2008

Hillsborough County among foreclosure leaders

Florida had the nation’s second highest foreclosure rate in September, a ignominious record achieved by beating out depressed housing markets in California and Arizona, according to the firm RealtyTrac.

Foreclosure filings last month afflicted 47,956 Florida properties, or 1 in every 178 households. Only Nevada, with 1 in 82 properties facing foreclosure, came off worse.

Hillsborough County showed the biggest monthly increase in the Tampa Bay area, with 4,663 properties falling into foreclosure. The county ranked third worst in the state with 1 or every 108 households facing foreclosure in September.

Pinellas County had 1,813 foreclosure cases, while Pasco and Hernando counties had 1,175 and 374 cases respectively. Foreclosures ebbed in Pinellas and Hernando from August to September but increased in Pasco.

Not every foreclosure case recorded by RealtyTrac will result in a home’s confiscation by the bank. In most cases the filings are initial complaints against homeowners a couple months behind on their payments.

Here's a breakdown of Florida counties for those of you with Microsoft Excel: Download realtytractsept08.xls 

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Housing market news is the focus of the (Un)Real Estate blog. It offers an inside look at the Florida housing market and real estate news, with a focus on Tampa Bay. Its goal? Simple: To help you keep a roof over your head without losing your shirt.

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