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Foreclosure activity increases 81 percent in 2008 according to RealtyTrac

 What’s the difference between Florida and other housing markets?  The Tampa Bay area is still a desirable retirement and second home destination. Therefore, we are expecting our market to increase in sales and reducing the amount of foreclosures in our housing market, sooner than other parts of the country.

Hillsborough River, Tampa Florida

Hillsborough River, Tampa Florida

Nevada, Florida, Arizona posted top states for foreclosure rates in 2008.  More than 7 percent of Nevada housing units (one in 14) received at least one foreclosure notice in 2008, giving it the nation’s highest state foreclosure rate for the year. A total of 77,693 Nevada properties received a foreclosure filing during the year, an increase of nearly 126 percent from 2007 and an increase of nearly 530 percent from 2006.

Florida registered the nation’s second highest state foreclosure rate in 2008, with 4.52 percent of its housing units (one in 22) receiving at least one foreclosure filing during the year, and Arizona registered the nation’s third highest state foreclosure rate, with 4.49 percent of its housing units (one in 22) receiving at least one foreclosure filing during the year.  

I know we’ve all heard NOW IS THE TIME TO BUY, however, the facts are the facts and we have to go by the statistics provided to us by industry experts. ……………This is a quote from Peter Lynch, a well known Real Estate Investor

“Ive found that when the market’s going down and you buy wisely, at some point in the future you will be happy.  You won’t get there by reading “now is the time to buy” Peter Lynch

 If you are interested in finding out more about bank owned and foreclosed properties in the Tampa Bay Area, including the Beaches please call Rae at 813-784-7744

or emailto: [email protected]

Search our Tampa Real Estate Website for homes for sale.

The Tampa Real Estate Insider, your source for the Tampa Housing Market

Written by Rae Catanese, Realtor

Licensed Realtor since 2002, Tampa Bay’s own Rae Catanese regularly gives expert advice and insider tips about the Tampa Bay real estate market via her blog, The Tampa Real Estate Insider. If you are thinking of buying or selling a home in the Tampa, St. Petersburg or Clearwater areas-then this blog is for you. I typically post articles once a week. To make sure you don’t miss my newest posts, you can subscribe here! Have a real estate question? Email me here!

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