Make us your home page
Instagram

Florida ranks second in number of foreclosures for 2010

Florida foreclosure activity dropped last year, but the state still finished 2010 with the second most filings in the country.

Nationally, a record 2.9 million properties — a 2 percent jump from 2009 — were flagged with foreclosure filings in 2010. Statewide, the numbers dropped more than 6 percent to 485,286 from 516,711 last year, according to a RealtyTrac report released today.

For just December, the filing activity dropped 22 percent in the state and nearly 34 percent in the Tampa Bay area. Still, nearly 65,000 Tampa Bay homes — almost 5 percent of all area households — received foreclosure filings in 2010.

RealtyTrac attributed the December decrease to the foreclosure moratorium that several lenders imposed on themselves temporarily in September and October, amid allegations that thousands of documents were signed improperly.

Is there a glimmer of hope in 2011? Not likely.

RealtyTrac's chief executive officer, James J. Saccacio, said the December dip wasn't good news for the new year.

"Many of the foreclosure proceedings that were stopped in late 2010 — which we estimate may be as high as a quarter million — will likely be restarted and add to the numbers in early 2011," he said.

Five states — California, Florida, Arizona, Illinois and Michigan — accounted for 51 percent of all foreclosures in 2010.

The numbers were much lower just a few years ago. In 2005, the nation recorded 885,000 foreclosure filings, about 122,000 of which were in Florida.

University of Central Florida economist Sean Snaith said it could take several more years for the housing market to fully recover. He said the monthly, quarterly and yearly foreclosure numbers will not improve until jobs are created and unemployment drops.

"Those two fates are intertwined," he said. "There's a lot of healing that needs to be done in those markets."

Thousands of foreclosure cases still clog bay area courts.

No magic wand exists to solve the foreclosure problems, said Matthew Weidner, a St. Petersburg lawyer who focuses on foreclosures. The news, he said, is the same each month, even as banks temporarily stopped foreclosures.

The problem, he stressed, will not subside until economic issues are solved.

"Nothing is on the horizon to address that," Weidner said. "We just keep kicking the can down the field."

Mark Puente can be reached at mpuente@sptimes.com or (727) 893-8459.

Locations 2010 filings December filings % change from Nov. % change from Dec. '09

Nation 2,871,891 257,747 -2% -26%

Florida 485,286 25,641 -22.15% -53.64%

Tampa Bay 64,693 3,874 -33.69% -33.15%

Hillsborough 30,014 1,425 -58.25% -43.88%

Pasco 11,369 844 +1.56% -17.34%

Pinellas 19,447 1291 -7.65% -22.93%

Hernando 4,133 314 +57% -43.93%



Better December, but bad year overall

Location2010

filings
December filings% change from Nov.% change from Dec. '09
Nation2,871,891257,747-2%-26%
Florida485,28625,641-22.15%-53.64%
Tampa Bay64,6933,874-33.69%-33.15%
Hillsborough30,0141,425-58.25%-43.88%
Pasco11,369844+1.56%-17.34%
Pinellas19,4471291-7.65%-22.93%
Hernando4,133314+57%-43.93%























































































































Location



2010

filings



December filings



% change from Nov.



% change from Dec. '09



Nation



2,871,891



257,747



-2%



-26%



Florida



485,286



25,641



-22.15%



-53.64%



Tampa Bay



64,693



3,874



-33.69%



-33.15%



Hillsborough



30,014



1,425



-58.25%



-43.88%



Pasco



11,369



844



+1.56%



-17.34%



Pinellas



19,447



1291



-7.65%



-22.93%



Hernando



4,133



314



+57%



-43.93%

Florida ranks second in number of foreclosures for 2010 01/13/11 [Last modified: Thursday, January 13, 2011 10:04pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. As Dow hits new high, Raymond James Financial reports record financial gains

    Banking

    On the same day that the Dow closed at new highs, investment firm Raymond James Financial reported record revenues and earnings for its fiscal third quarter that ended June 30.

    Raymond James Financial CEO Paul Reilly unveiled record quarterly revenues and earnings for the St. Petersburg-based investment firm. [Courtesy of Raymond James Financial]
  2. Florida GDP growth in first quarter 2017 ranks 21st among states, still outpacing U.S.

    Economic Development

    Florida's gross domestic product or GDP rose 1.4 percent in the first quarter, slightly faster than the nation's growth of 1.2 percent and placing Florida 21st among the states for growth rates, according to the U.S. Bureau of Economic Analysis.

    Not too hot. Not too cold.

    These Jackson Square Townhomes began hitting the west Hillsborough County market late last year and continued to be sold into the first quarter of 2017. The real estate sector was the biggest driver of Florida's gross domestic product, which rose 1.4 percent in the first quartrer of 2017.  [JAMES BORCHUCK   |   Times]
  3. A new app will help you find your favorite Tampa Bay food trucks

    Food & Dining

    What's new: Food tech

    Local food businesses are embracing new technologies and partnerships to bring us extra deliciousness.

    Michael Blasco of Tampa Bay Food Trucks says that everyone always asked about an app to help find their favorite food trucks. There is, available for iPhones and Droids.
  4. Another Pinellas foreclosure auction fools bidders, raises questions

    Real Estate

    For the second time in six weeks, a company connected to lawyer Roy C. Skelton stood poised to profit from a Pinellas County foreclosure auction that confused even experienced real estate investors.

    A Palm Harbor company bid  $112,300 for  this Largo townhome at a foreclosure auction July 21 not realizing the auction involved a second mortgage, connected to lawyer and  real estate investor Roy Skelton -- and that the bank could still foreclose on the  first mortgage.
[SUSAN TAYLOR MARTIN   |   Times]
  5. Clearwater-based USAmeriBank acquired by New Jersey bank in $816 million deal

    Banking

    CLEARWATER — USAmeriBancorp, Inc., based in Clearwater, is being acquired by New Jersey's Valley National Bancorp in an $816 million deal, it was announced today.

    Joe Chillura, CEO of USAmeribank, shown inside a branch in Ybor City in this file photo.
[KATHLEEN FLYNN l Times]