Make us your home page

Tampa Bay, state foreclosure rates not as grim as predicted

Real estate experts for several months predicted that foreclosures in Tampa Bay would rise as lenders cleared a backlog of filings containing improper signatures.

So far, that hasn't happened.

Initial foreclosure notices in the Tampa Bay area decreased nearly 22 percent in May, according to a RealtyTrac report released today. Lenders delivered new notices to 2,110 homeowners around Tampa Bay.

Filings have dropped in six of the past seven months.

"It's not that surprising," said Scott Brown, chief economist with Raymond James in St. Petersburg. "The worst is behind us, but it's going to be a long way for a full recovery in the housing market."

Many Florida regions also recorded fewer foreclosure filings last month. Ocala was down 26 percent; Orlando, 14 percent; and Cape Coral-Fort Myers, 5 percent. Filings statewide fell 62 percent from May 2010, with Tampa Bay down 66 percent in the same period. One of every 461 homes in Florida received a notice last month.

Several Florida regions recorded increases. Sarasota-Bradenton and Miami-Fort Lauderdale both rose just above 2 percent. But compared with May 2010, those areas are down 47.84 percent and 61.73 percent.

Nationally, initial filings fell nearly 2 percent.

James J. Saccacio, chief executive officer of RealtyTrac, said the foreclosure situation is still being masked by the processing delays. He said lenders are somewhat unevenly pushing batches of bad loans through foreclosure as they overhaul their paperwork and documentation procedures.

The mixed foreclosure filings show that some markets, he said, can better absorb an increase of bank-owned properties.

Mark Puente can be reached at or (727) 893-8459. Follow him on Twitter at

LocationMay filings% change from April% change from May 2010
Nation214,927– 1.98– 33.44
Florida19,192– 2.33– 62.13
Tampa Bay2,110– 21.88– 66.47
Hillsborough1,013– 12.67– 59-40
Pasco296– 32.57– 79.42
Pinellas612– 33.55– 67.15
Hernando189+4.42– 61.90

Tampa Bay, state foreclosure rates not as grim as predicted 06/16/11 [Last modified: Thursday, June 16, 2011 2:02pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Toys 'R' Us files for bankruptcy but keeps stores open (w/video)


    NEW YORK — Toys 'R' Us, the big box toy retailer struggling with $5 billion in debt and intense online competition, has filed for bankruptcy protection ahead of the key holiday shopping season — and says its stores will remain open for business as usual.

    Shoppers shop in a Toys R Us store on Black Friday in Miami in 2016. Toys R Us, the pioneering big box toy retailer, announced late Monday, Sept. 18, 2017 it has filed for Chapter 11 bankruptcy protection while continuing with normal business operations. [Associated Press]
  2. Trigaux: Waiting for your next pay raise? Keep dreaming, employers hint

    Working Life

    The economy's bouncing back. The stock market keeps hitting new records. And the jobless rate in Florida may soon drop below 4 percent. Surely, these are robust indicators — key signs that an annual raise is just around the corner. Right?

    Who doesn't want a pay raise? Demonstrators have rallied for years in a number of states for a $15 minimum wage. But many workers across a broad pay range are unlikely to see much if any raises this year, a new survey says. [AP Photo/Seth Wenig]
  3. Florida Guard scales down troop strength; Navy sails away from the Keys

    State Roundup

    The Florida National Guard on Monday drew down its activated statewide forces to about 1,200 on-duty troops, mostly in operations focused on relief distribution in the Florida Keys — and the last of a mini-armada of U.S. Navy ships off Key West set sail for home.

    Soldiers from the Florida National Guard's Delta Company, 1st Battallion, 124th Infantry, 53rd Infantry Brigade Combat Team on Sept. 14. The Federal Emergency Managment Agency has reported that 25-percent of all homes in the Florida Keys were destroyed and 65-percent sustained major damage when they took a direct hit from Hurricane Irma.  [Chip Somodevilla | Getty Images]
  4. LOCALE Market hosting St. Pete job fair for hospitality positions


    ST. PETERSBURG — Locale Market / FarmTable Kitchen is hosting a hospitality job fair Tuesday in St. Petersburg. The event will run from 10 a.m. to 2 p.m. at the LOCALE Market at 179 2nd Ave. North, St. Petersburg. Organizers said they hope to hire about 20 workers with a focus on displaced workers from Hurricane …

    Locale Market is hosting job fair on Tues., Feb. 19. [LARA CERRI | Times] 

  5. So far, 335,000 Irma claims totalling $1.95 billion filed in Florida


    Times Staff Writer

    As of Sunday afternoon, insurers had received a total of 335,347 claims statewide for insured damage totalling $1.95 billion caused by Hurricane Irma, the Florida Office of Insurance Regulation reported Monday based on preliminary figures.

    This shows a damaged mobile home inside Clover Leaf Farms RV Park in Brooksville. So far, insurers have received a total of 335,347 claims statewide for insured damage totalling $1.95 billion caused by Hurricane Irma.
[MEGAN REEVES   |   Times]