Thursday, December 14, 2017
Business

Florida still 2013's foreclosure king, but new filings have plunged

BY DREW HARWELL

Florida ended 2013 once again as America's reigning foreclosure king, though amid the housing recovery new cases plunged, RealtyTrac data released Thursday shows.

About 107,000 new foreclosures began last year in Florida, a 31 percent drop from 2012, as banks continued to tussle with homeowners in the aftermath of the housing bust.

In total, Florida had 260,000 foreclosures pending in court by December, about half as many as were filed or reopened in the Great Recession days of 2009, state court data shows.

One in 33 Florida housing units last year faced foreclosure and was sent a notice of default, auction or repossession, according to RealtyTrac.

Tampa Bay, which had more than 43,000 pending foreclosures, posted the sixth-highest foreclosure rate in the country, alongside many Sunshine State neighbors: Miami (No. 1), Jacksonville (No. 2), Orlando (No. 3), Palm Bay (No. 4), Port St. Lucie (No. 5), Ocala (No. 7) and Sarasota (No. 10).

Those cases have created a long-term clog in the courts. Foreclosures in Florida, RealtyTrac data shows, took a staggering 944 days to complete, longer than every state but New York and New Jersey.

Fervor from investors to buy up distressed fixer-uppers has led foreclosure prices to rise. The 6,200 foreclosed Tampa Bay homes realtors sold last year were priced at $85,000, up from $79,000 in 2012.

About 1.3 million American homes received foreclosure filings last year, 26 percent fewer than 2012 and half as many as 2010. About 5.6 million homes nationwide have been repossessed by lenders since the housing bubble burst.

Contact Drew Harwell at [email protected] or (727) 893-8252.

Comments
Florida hospitals call for more funding in effort to address looming doctor shortage

Florida hospitals call for more funding in effort to address looming doctor shortage

The number of doctors practicing in Florida has not kept up with the state’s surging population growth, and more money is needed to recruit and keep them here, hospital leaders said Wednesday.The shortage is particularly acute in four speciality area...
Updated: 7 hours ago
Allegiant Air mechanics ask to be represented by Teamsters

Allegiant Air mechanics ask to be represented by Teamsters

Allegiant Air mechanics filed with the federal government Wednesday to be represented by the International Brotherhood of Teamsters. If the petition is passed, the union would negotiate on behalf of the mechanics and related technicians on issues suc...
Updated: 8 hours ago
Federal Reserve boosts key interest rate for third time this year

Federal Reserve boosts key interest rate for third time this year

WASHINGTON — The Federal Reserve is raising its benchmark interest rate for the third time this year, signaling its confidence that the U.S. economy remains on solid footing 8˝ years after the end of the Great Recession. The Fed is lifting its short-...
Updated: 12 hours ago
Pasco Business Digest for Dec. 15

Pasco Business Digest for Dec. 15

Business digestWho’s newsHOSPITAL APPOINTS ASSISTANT CHIEF NURSING OFFICER: Registered nurse Courtney Stephenson, board certified nurse executive advanced, was recently appointed assistant chief nursing officer at Medical Center of Trinity. Stephenso...
Published: 12/13/17

Hernando Vendors for Dec. 15

Vendors are needed for the following nonprofit events:• Vendors and volunteers are being sought for a National Homeless Persons’ Memorial Day event from 8 a.m. to 3 p.m. Dec. 21 at Crescent Community Clinic, 5244 Commercial Way, Spring Hill. During t...
Published: 12/13/17
Tampa airport ranks No. 4 for most affordable parking rates

Tampa airport ranks No. 4 for most affordable parking rates

TAMPA — Holiday flight prices may be high, but parking rates at Tampa International Airport are a little more manageable. TIA has the fourth-cheapest parking rates in the country, a study by travel and expense app company TravelBank said. TIA, the st...
Published: 12/13/17

Hernando Business Digest for Dec. 15

EventsDISCOUNT OFFERED TO THOSE WHO DONATE TO HELP HOMELESS: In advance of National Homeless Persons’ Memorial Day, BonWorth clothing store, 12987 Cortez Blvd., Spring Hill, will offer a 10 percent discount on purchases to those who donate unwanted c...
Published: 12/13/17
Target aims to boost same-day delivery by acquiring Shipt

Target aims to boost same-day delivery by acquiring Shipt

NEW YORK — Target plans to boost its same-day delivery capability by paying $550 million for Shipt, its latest move to try to catch up with Amazon. Shipt delivers groceries to its members, who pay $99 a year. Target says it will add more products to...
Published: 12/13/17
Spirit Airlines names new president, CEO for 2019

Spirit Airlines names new president, CEO for 2019

Spirit Airlines, the South Florida-based budget airline, is gearing up for new leadership. Bob Fornaro, president and CEO since January 2016, will step down from his position in early 2019. He will be succeeded by Ted Christie, the airline’s current ...
Published: 12/13/17
Three things to watch for at the Federal Reserve meeting today

Three things to watch for at the Federal Reserve meeting today

WASHINGTON — On the day when Janet Yellen will hold her final news conference as Federal Reserve chair, the Fed has left little doubt what it plans to do Wednesday: Raise its benchmark interest rate for the third time this year. The increase would be...
Published: 12/13/17