Flagler County Foreclosures Lower Than RealtyTrac Report on Florida
I’ve said it before; real estate markets are local. State and national numbers are interesting but not accurate at the local level.
Palm Coast, FL – March 11, 2010 – As I’ve often said, real estate markets are local. While state and national trends make interesting reading and spark cocktail conversations, they seldom reflect what’s really going on in the local real estate marketplace. For example, California-based RealtyTrac is often cited as the source for reports of foreclosure activity. One report today on RealtyTrac’s latest findings says, "Foreclosure activity in the Sunshine State rose by nearly 15 percent in February, over the previous month, and was up more than 16 percent from the prior-year period." These statistics will probably be repeated in other publications.
That report does not reflect the Flagler County foreclosure picture. Flagler County’s February foreclosure filings were down 7% from the previous month and up 6.4% from the prior year period. Flagler had 2,595 foreclosure filings in 2009 and 2.775 in 2008. There are month-to-month fluctuations, but the trend line is pretty stable. The next time someone uses national or statewide statistics to make a point, remind them that all real estate markets are local.
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