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Tampa Foreclosed Homes for Sale Still High, Home Sales Up

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By : John Cutts    99 or more times read
Tampa foreclosed homes for sale dropped in number in October as sales of single-family homes and condo units soared in October and in the previous month of September, based on data from the Florida Association of Realtors and a real estate firm that tracks foreclosures nationwide.

A total of 6,216 foreclosure actions were filed in Tampa Bay in October, equivalent to one in every 211 residential units in foreclosure. The number of filings marked a drop of almost 18 percent from filings in October last year and a drop of around 8 percent from September, but the number is still high.

Meanwhile, sales of previously-owned single-family homes rose by 20 percent in the July to September quarter, with nearly 7,800 units sold, marking an increase from 6,502 units sold during the same three-month period last year.

The Sarasota-Bradenton area reached the highest sales level in the bay region, posting over 2,300 units in homes sold, an increase of 32 percent from 1,758 units sold in last year's third quarter.

Other areas also experienced strong sales, such as the areas covered by Tampa, Saint Petersburg and Clearwater, which posted almost 7,800 in units sold, an increase of 20 percent. Nearby Lakeland also sold 3,377 units, a substantial increase from the previous sale of 2,633 units.

While the number of Tampa foreclosed homes for sale dropped in October, foreclosure filings in the bay counties of Hernando and Polk increased. In Hernando, filings soared by almost 49 percent from October last year to 561 filings, equivalent to one unit out of every 143 housing units. Hernando now is one of the ten counties with the biggest foreclosure rates in Florida.

Polk meanwhile registered an almost 14-percent increase in foreclosure filings in October compared to last year to 1,286 filings, equivalent to one unit out of every 216 residential units in the area.

Counties in the bay region which had experienced declines in October were Hillsborough, Pasco and Sarasota. Hillsborough, which rank 13th in Florida in foreclosure rate, posted a drop of over 5 percent in foreclosure filings in October compared to the previous month.

Statewide, overall foreclosure filings also dropped compared to October last year by 4.4 percent, but the number is still high compared to other states. With a total of nearly 52,000 filings, Florida is second in number of filings in the U.S.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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