Florida Cities’ Foreclosed Homes List on the Rise

by Elizabeth Rush

The top 25 metropolitan areas with the highest foreclosed homes list in the country are dominated by cities from California and Florida from January to June of this year.

The highest foreclosure saturation is found in Las Vegas-Paradise area where one out of 13 houses is in danger of foreclosed homes list. The Cape Coral-Fort Myers area is the foreclosure capital of Florida and ranked second in the whole country with one out of 14 houses in foreclosure.

Second in Florida’s foreclosure ranking is the Orlando-Kissimmee area with one out of 23 homes or 4.28 percent is in danger of repossession. The area, which experienced an increase of 76 percent in foreclosure activity, is in the 10th position inf the country’s highest foreclosed homes list.

In Tampa Bay area, the highest foreclosure growth was posted in Lakeland with one out of 37 homeowners or 7,407 properties receiving a foreclosure filing. Lakeland earned the 21st position in the country’s highest foreclosure rate ranking, followed by Sarasota-Bradenton-Venice with one out of 38 houses facing foreclosure.

The Tampa-St. Petersburg-Clearwater area ranked number 23 in the country, with one out of 39 or 33,906 properties at risk of foreclosures.

All metropolitan areas in Florida experienced high foreclosure rates this year compared with the first half of 2008. The highest foreclosure rate gains were reported in Gainesville with 92 percent, finishing 68 in the ranking.

Meanwhile, the Orlando area posted foreclosure filings on 37,801 properties in the first half of this year, earning it the eighth position in the highest foreclosure rate ranking among the country’s 203 metropolitan areas.

On the other hand, the area of Daytona Beach ranked 19th on the foreclosure rate list, with one out of 37 properties or 2.7 percent in danger of foreclosure. For the first half of this year, Daytona posted foreclosure filings on 6,635 properties.

Posting the best foreclosure rate in Florida is Tallahassee with one out of 114 properties at risk of foreclosures, earning the area the number 84 overall position.

Some cities that have been spared from the foreclosure crisis in previous years are starting to climb the ranking, particularly those areas with high unemployment rate. Leading the growth in foreclosed homes list is Seattle, Washington with one out of 107 homes receiving foreclosure filings in the first half of this year.

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