Foreclosure, Some New Facts:

By:www.RealEstateLatino.com

Foreclosures are touching literally everybody in our country, either you are one of the “unlucky one” who are facing foreclosure, or you know of a friend or family member in that situation or your home’s value was affected by a nearby-foreclosed property, the reality is that, foreclosures are part of our daily life and it seams that is going to be like this for a while.

After researching the market, I found some facts that I wanted to share with you.

Here are some facts that I was able to find:

*US Foreclosure Filings In February Up 30% On Year –RealtyTrac

*Slightly more than 290,000 properties- one in every 440 housing units - were slapped with a foreclosure filing in February, up nearly 30% from a year earlier
*Foreclosure cases rise on Long Island to a new higher level of 54% last month

*In Florida 8,450 existing homes sold, up 24 percent from the 6,810 homes sold in January 2008, according to FAR

*6% increase from January, was the third-highest monthly total - following those in August and December 2008

*Filings spike after moratoriums expire this month
Jacksonville, Fl Forbes’s prediction to become US foreclosure capital rank number 25 on the 100 top metro area list

*In Florida, one in every 188 homes faced foreclosure

*In Jacksonville, there were 2,107 foreclosures, or one for every 278 homes. That’s up 14 percent from January and up 29 percent from February of last year

*Jacksonville is number 5 amount Florida’s mayor cities facing foreclosure

*After a 45-day voluntary moratorium in Florida ended at the end of January, foreclosure activity increased 14% from a month earlier

*New York proceedings delayed by a 90-day extension appear to have hit the system in February, boosting foreclosure activity by 23%

*Thousands of Alt-A and option-arm loans worth $60 billion to $70 billion are due to reset starting in the second quarter

*One in every 440 homes nationwide was hit with a foreclosure filing

*Much of the foreclosure is rippling across former bubble markets

*In Las Vegas, one in every 60 units received a filing, giving the city the nation's highest rate among metro areas with a population of at least 200,000 and a rate more than seven times higher than the national average

*One in every 440 homes nationwide was hit with a foreclosure filing

*In Florida, one in every 188 homes faced foreclosure

*The Cape Coral-Fort Myers, Fla., area came in next, with one in every 65 getting a filing from default notices to bank repossessions

*Phoenix ranks ninth with one in every 110 units

*Nationwide, 290,631 properties had foreclosure filings, 46,391 of which were in Florida

I am sure this facts list could go on and on, but we will stop here…for now.