There were 69 completed foreclosure sales recorded in Flagler County in July v. 80 completed sales a year ago. Of 789 Flagler homes currently listed for sale in MLS, 50 are lender-owned.
Palm Coast, FL – August 30, 2013 – There were 69 completed foreclosure sales recorded in Flagler County during July 2013 v. 80 completed sales a year ago.. Nationally, completed foreclosures were down 25% over the same period according to Corelogic’s National Foreclosure Report released yesterday. A foreclosure is completed when either the lender or another bidder take possession as a result of a foreclosure sale.
The national foreclosure inventory declined 32% from last July. “Foreclosures and delinquency rates continued their rapid descent in July. Every state posted a year-over-year decline in foreclosures and serious delinquencies fell to the lowest level since December 2008, says Anand Nallathambi, Corelogic’s president. “Not surprisingly, non-judicial states have come the farthest the fastest in reducing shadow inventory and lowering delinquency rates.”
Florida leads all states with the highest foreclosure inventory as a percentage of mortgaged homes at 8.1% followed by New Jersey (5.9%), New York (4.7%), Connecticut (4.0%) and Maine (4.0%). All top five are judicial foreclosure states, meaning that foreclosure proceedings are required to be under the supervision of the court.
Florida also led all states with the highest number of completed foreclosures during the past 12 months with 110,000. Florida was followed by California with 65,000, Michigan with 61.000, Texas with 45,000 and Georgia with 41,000. All but Florida are non-judicial foreclosure states.
Lender-owned properties accounted for 20.8% of all Flagler single-family home sales reported to MLS in July. This compares to 24.1% a year ago. Of 789 Flagler homes currently listed for sale in MLS, 50 are lender-owned