Foreclosures are down Nationwide is the headline.

Stats are just out stating that there is a considerable  difference between February 2012 when 3.5 % of all home sold were foreclosures and February 2013 we are down to 2.8% of homes selling were foreclosures. This is the lowest amount of foreclosed homes selling since 2007. Granted these higher stats are being seen in major cities with the Metro areas of Tampa-St Petersburg-Clearwater/ Orlando –Kissimmee-Sanford are leading the way. This is not to say we do not have a long ways to go but I am smiling!

Florida has had the highest total number of completed foreclosures for the last 12 months ending in February 2013(95,000). These statistics are understandable, since we have had the distinction of the largest percentages of mortgaged homes that were in foreclosure (9.9 %). Yes, my friends we have bypassed New Jersey, New York, and Nevada. The experts seem to think that these drops are the prelude to an increased in home buying this year and next.

Anecdotally, this concurs with what my friends have been saying in the Escambia / Santa Rosa Markets...No one wants to say it too loud but it feels like we are on the mend.  Thanks to Core Logic (a data and analytical company) who put this information in understandable terms.

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