Posted on | January 4, 2013 |
Inclusiveness isn?t always good.
RealtyTrac?s list of the Top 20 Metros facing More Foreclosures for Sale in 2013 bore the names of no locale in the Golden State. No mention of the Inland region of Riverside and San Bernardino counties, either. Nothing. Nada.
Instead, eight Florida locales are in line to take their lumps.
Each of the metros to make the 2013 list had an increase of at least 20 percent in foreclosure starts and REOs combined in 2012, according to RealtyTrac. Those metro areas had at least 2,000 foreclosure starts and lender take-backs (REOs) through November 2012.
Metros making the 2013 list are: Palm Bay, Lakeland, Tampa, Ocala, Panama City, Pensacola, Jacksonville and Orlando, Fla.; Raleigh, Charlotte, Greensboro, and Winston-Salem, N.C.; Omaha, Neb.; Pittsburgh and Allentown, Pa.; New Haven and Bridgeport, Conn.; Rockford, Ill.; Detroit, Mich.; and New York, N.Y.
Daren Blomquist, vice president of the online foreclosure and real estate reporting service, said this is the first year this type of list was created.
If one were done for 2012, California would have been excluded, as well ? given the downtrend in activity throughout the year across the state. ?What?s happening is California has been at the forefront of the crisis for years, but now, it?s also leading the way out,? he said.
That doesn?t mean California is out of the woods.
California still has the largest volume of foreclosure activity, according to this RealtyTrac chart:
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Florida?s ramp-up in activity is due, in part, to the backlog of property that had to be processed in the state that deals with foreclosures through the courts, Blomquist explained.
?California?s process was more streamlined ? like, ripping off a bandage,? he said. ?In Florida, it?s been more like pulling the bandage slowly back.?
How you do feel about the projection for 2013? Will California continue to be the artful dodger when it comes to foreclosures?
Write to Debra Gruszecki at dgruszecki@pe.com
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