North Florida Foreclosures Rising

Yesterday's blog post on the explosion of Tallahassee Foreclosures created quite a bit of incoming interest from our readers. Some of our readers in the counties that surround Leon County wanted to know more about how they were doing, so today's blog will be a summary of the North Florida foreclosure situation.

When we look at the ratio of foreclosure sales compared to lis pendens filings in North Florida, we see a rising trend. Through 2008, roughly 17% of lis pendens in our area made it to a final foreclosure sale, but last month, the number soared to nearly 45%. Foreclosure sales are up 200% and I suspect this is just the beginning of a cleaning cycle that will go for quite some time (read that to mean more than another year).

In the real estate graph below, the red bars show how many foreclosure sales occurred each month, the green bars measure the lis pendens filed, and the blue line records the ratio of the two.

For those readers interested in the raw information, the following table shows the actual number of foreclosure sales in each county over the past two years.

Foreclosure Sales In North Florida

Lis Pendens Filed In North Florida

Other Tallahassee Foreclosure Reports

• Lis Pendens Filings 1st Quarter 2010
• Tallahassee Foreclosure Report March 2010
• Tallahassee Lis Penden Filings Week+ Ending March 31, 2010
• Tallahassee Lis Penden Filings Week Ending March 21, 2010
• Tallahassee Lis Penden Filings Week Ending March 14, 2010
• Tallahassee Lis Penden Filings Week Ending March 7, 2010