Another Obama Recovery Summer is upon us.
Posted on 07/26/2012 6:23:21 AM PDT by Iron Munro
The Tampa-St. Petersburg-Clearwater metropolitan area saw foreclosure activity skyrocket 47 percent in the first six months of this year. The increase was by far more than the other large metros.
About half of the nation's 20 largest metro areas had increases in foreclosure filings, according to California-based RealtyTrac, which tracks foreclosures across the nation.
Foreclosure filings — default notices, scheduled auctions and bank repossessions — increased 30 percent in Philadelphia, 28 percent in Chicago, 26 percent in New York and 21 percent in Baltimore.
In all, 59 percent of U.S. metros posted higher foreclosure activity in the first half of the year, compared with the previous six months.
The news is bittersweet for the still fragile housing market.
"Those foreclosure starts are welcome news for prospective buyers and real estate brokers in many local markets where a shortage of aggressively priced inventory has been holding up sales activity," said Brandon Moore, CEO of RealtyTrac.
In the Tampa area, there were 20,951 properties with foreclosure filings from January to July. That's one in every 65 households.
California accounted for seven of the 10 highest metro foreclosure rates. Florida accounted for four of the top 20 metro foreclosure rates, while Illinois accounted for two of the top 20. Georgia, Arizona, Nevada and Colorado each had one city in the top 20.
Foreclosures didn't increase everywhere, though.
Seattle saw foreclosure activity decrease 24 percent from the previous six months, the largest drop among the nation's 20 largest metro areas.
Other large metros with decreases during the first half of the year were San Francisco, at 21 percent, Detroit, at 17 percent, and Los Angeles, at 13 percent. Foreclosures fell 12 percent in Boston and 11 percent in San Diego.
Another Obama Recovery Summer is upon us.
This part is the only part which is truly unexpected.
True?
This may be true but home prices have been going up at the same time, at least here inside Tampa.
True.
And the vacant houses all become meth labs.
Woohoo!
As someone struggling to find a worthwhile house in my price range, this is music to my ears. I just hope this includes the communities outside tampa, as I don’t feel like moving into gang land. My dog might get tired of running off intruders.
Unexpected?...
There’s active Florida Freepers, but they’re scattered all over the place.
Thought I’d ping you, Leni.
I was thinking that might be due, in part, to a couple of different factors:
1. - Lower price properties get sold first and fast. The remaining backlog are higher priced so the average purchase price goes up.
2. - The better deals get picked up by speculators, investors, etc. who have insider connections and get to pick the plum deals before they make it to public sale.
I don't know how valid these thoughts are. Maybe we have some knowledgeable Freepers who can give some insight.
Plus, they have the financing in place for quick purchases. A nice deal if you can get in at or near the bottom
There are three Florida chapters, Northern, Central and Southern. The Tampa Bay area is part of the Central Chapter.
Florida Freepers are among the most alert, informed, energetic, passionate, fun, sociable amd patriotic activists anywhere across the Freeperville fruited plain.
From the trenches of long-ago Whitewater to the skyscraper corners of Tampa to the rolling green lawn of the Tallahassee court house....we've done it all. We've had the Freeper Air Force, the Freeper Navy and the Freeper Amazon Brigade.....who could ask for anything more!
Freepmail me at "MinuteGal" if you're a Florida freeper and want chapter information. You don't have to do anything to become a chapter member except be a freeper and breathe.
How could you NOT be one of the few, the many, the proud, the sunburned on a street corner freeping Obama????
Leni
(FR Central Chapter)
And don’t forget the ‘Amazon Brigade’ that Freeped FL Sen. Bill Nelson in Tampa during the Clinton Impeachment!
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