Florida dominates ’10 foreclosure hot spots list

Miami /
Jan.January 27, 2011 01:58 PM

The Miami-Fort Lauderdale-Pompano Beach metro area had the fifth-highest residential foreclosure rate in the country in 2010, with 171,704 homes, or one in every 14 housing units, receiving a foreclosure filing last year, according to RealtyTrac’s year-end U.S. foreclosure market report. The report tracks the total number of properties with at least one foreclosure filing recorded by RealtyTrac during the year. For the South Florida region, that number was down only slightly, by .69 percent, from the foreclosure rate for the area in 2009, and still 42.51 percent above its rate in 2008.

RealtyTrac’s ranked list, which is organized based on the metro area’s percentage of properties in foreclosure rather than the total number of foreclosure filings, pegged the greater Las Vegas market as the worst in the nation in terms of foreclosure activity. Las Vegas saw 88,198 properties with filings during 2010, roughly 10.88 percent — or one in every nine properties. But Florida cities accounted for nine of the top 20 metro areas in terms of foreclosure rates. Coral Gables-Fort Myers ranked second, with one in every 12 housing units receiving filings.

Nationwide 2.87 million, or one in every 45 properties, had a foreclosure filing during 2010. This marks a 1.67 percent climb over 2009’s levels and a 23.23 percent jump from 2008. TRD


Related Articles

arrow_forward_ios
Joseph Chetrit and The Tides South Beach (Getty, The Tides South Beach)
Chetrit’s lender scores victory in South Beach hotel foreclosure
Chetrit’s lender scores victory in South Beach hotel foreclosure
Moto Capital Group's Marcos Lima with 350 Ocean Drive (Loopnet, LinkedIn, Getty)
Toronto firm picks up Ocean Drive hotel for $39M
Toronto firm picks up Ocean Drive hotel for $39M
Metronomic's Kelly Beam with 3265 Bird Avenue (Metronomic Holdings, Google Maps)
Embattled developer’s Coconut Grove rentals head to auction
Embattled developer’s Coconut Grove rentals head to auction
8000 West Broward Boulevard, Mall
Lender pays $43M for Broward Mall in foreclosure auction
Lender pays $43M for Broward Mall in foreclosure auction
A rendering of the project + a Google street view of the building at 3034 Oak Avenue and  (L-R) Developers Nick Hamann and Jeremy Wacks, with Douglas Elliman’s Jay Parker (Google Maps)
Lender seeks foreclosure of stalled Arbor Coconut Grove project
Lender seeks foreclosure of stalled Arbor Coconut Grove project
Terreno Realty's W. Blake Baird with 8050 Northwest 90th Street (LinkedIn, Google Maps)
Lender sells foreclosed aviation maintenance site in Medley for $20M
Lender sells foreclosed aviation maintenance site in Medley for $20M
Renderings of new Miami Collective site with Gamma Real Estate’s Jonathan Kalikow (The Collective, Gamma Real Estate)
Lender takes control of The Collective’s Wynwood dev site through foreclosure auction
Lender takes control of The Collective’s Wynwood dev site through foreclosure auction
The Collective's Reza Merchant and renderings of new Miami location (The Collective, LinkedIn)
Collective undone: Lender targets planned co-living site in Wynwood
Collective undone: Lender targets planned co-living site in Wynwood
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...