According to the Florida Association of Realtors, the number of U.S. households threatened with losing their homes held steady last month, a sign that lenders’ efforts to help distressed borrowers may be having a gradual impact.
More than 358,000 foreclosure-related filings were recorded in August, meaning one in 357 U.S. homes received a filing, RealtyTrac Inc. reported Thursday. That number, up 18 percent from a year ago, includes default notices, scheduled auctions and bank repossessions.
Locally in North Florida we had a 75% increase in short sales and foreclosures. Last month in August we had 166 short sales/foreclosures close in North Florida compared to 291 in August. The median short sale/foreclosure price fell from $150,000 to $129,450. How does this compare to a traditional sale (not a short sale or foreclsoure)? The median sales price dropped from $189,800 to $158,495…a 16.5% decrease! Yikes.
If you are facing a foreclosure in Jacksonville or St. Augustine and need information on a short sale, click here .
Email me for a detailed report on short sales or foreclosures in your neighborhood or click here to learn the difference between a short sale and a foreclosure.
Tags: jacksonville foreclosure, North Florida Stats, sellers, short sale, st augustine foreclosure
