May Foreclosures Rate: Florida Climbed to 4th Place!

Suffering from a 51.59 percent increase in foreclosure homes rate from April, the state of Florida comes in at number four for the month of May, with one filing for every 336 homes. The total number of filings for this state reached 21, 704 households. If you compare it to last year, it was a whopping 143.92 percent increase. Almost 17,000 of these Florida foreclosures filing were due to default while 1,521 homes became real estate owned properties.

Despite such depressing reports, many Florida foreclosures experts believe that the market condition is heavily influenced. This statement follows reports of many speculators who are choosing to walk away from their properties. Three other states are also experiencing this special circumstances including Nevada, Arizona and California. Many experts believe that the actual Florida foreclosures situation is not as bas as everybody are being led to believe.

In fact, these Florida foreclosures are among the hottest properties in the nation. In Dayton Beach and Tampa Central, sellers usually receive multiple offers for their homes as well as enjoy up to 100 percent of their asking prices. There are very few buyers who will negotiate and ask for discounts in order to close the sale immediately. Most of the activity comes from first time buyers looking for single-family units especially beachfront properties.

The considerable population growth experienced by the state resulted in the considerable increase in demand for affordable homes. What could be more affordable than these Florida foreclosures? Priced according to the amount of mortgage debt owed, these homes provide much return potential, not too mention, instant equity upon purchase.

Experts like ForeclosureConnections could provide buyers with a wide selection of Florida foreclosures to choose from, all as amazing as the next, through foreclosure lists.

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