The Situation On Florida Foreclosed Home Listings For The First Half Of 2012

23 July 2012

Florida foreclosed home listings have become the bargain deal hunter’s favorite option when it comes to finding the most affordable real estate options within the beautiful state located in the southeastern region of the United States.

All About Florida

The state of Florida, also known as The Sunshine State, is famously known for having warm sunny days, world-class beaches, an assortment of tourist attractions, and some of the liveliest communities within the country today.

More recently, the state has been recognized for its high volume of foreclosed homes which simply grew in number as soon as the market went tumbling down a few years ago. Up until this very day, there are so many property options being added to Florida foreclosed home listings which provide opportunities for property buyers who would like to purchase affordable real estate within the region.

Foreclosed Homes

Basically, a foreclosed home is a property that has previously been purchased under a mortgage by a borrower who has become unable to keep up with necessary payments that would entitle them to full ownership of the property. As a result of their financial inability, the property becomes seized by the mortgage lender who then has the power to sell off the property back on the market — usually for significantly reduced values.

Foreclosure Filings

According to recent reports for the first half of 2012, the rate of foreclosure filings in the state of Florida have increased by as much as 22.54 percent compared to the same period of time in 2011. However, the national trend seems to be quite the opposite as the rate of foreclosure filings has dropped all across the country by 10.65 percent to a national rate of 0.79 percent.

Home Listings

Given the current situation wherein people are given such outstanding opportunities to purchase real estate at discounted rates, it seems that Florida foreclosed home listings are definitely going to be worth checking out while the inventory supply remains to be abundant.

The fact that the record for the number of filings made in the month of June 2012 has dropped by 5.67 percent compared to the previous year means that it is less likely that the same volume can be expected in the future, especially now that the demand is high across the region.

If you would like to be able to find out more information on Florida foreclosures, of if you are interested in being able to go over your available options on today’s selection of foreclosed home listings, you should get in touch with a professional agent to find out more details.

Yaz Morgan
Florida Foreclosed Home Listings