Welcome!

News Feed Item

2012 Foreclosure Activity up in 57 Percent of U.S. Metros, Best Markets to Buy Foreclosures in 2013 Selected

Foreclosure Activity Down in 12 of 20 Largest Metros, Led by Phoenix, San Francisco, Detroit Stockton Posts Highest Metro Rate, but Florida Cities Account for 8 of Top 20 Rates

IRVINE, CA -- (Marketwire) -- 01/31/13 -- RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its 2012 Year-End Metropolitan Foreclosure Market Report, which shows 2012 foreclosure activity increased from 2011 in 120 (57 percent) out of the nation's 212 metropolitan statistical areas with a population of 200,000 or more. Foreclosure activity during the year decreased from 2010 -- when foreclosures peaked in most markets -- in 181 out of the 212 markets tracked in the report (85 percent).

Foreclosure activity in 2012 decreased from 2011 in 12 out of the nation's 20 largest metro areas, led by Phoenix (down 37 percent), San Francisco (down 30 percent), Detroit (down 26 percent), Los Angeles (down 24 percent), and San Diego (down 24 percent).

But 2012 foreclosure activity increased in eight of the 20 largest metros, led by Tampa (80 percent increase), Miami (36 percent increase), Baltimore (34 percent increase), Chicago (30 percent increase), and New York (28 percent increase).

"Markets with increasing foreclosure activity in 2012 took the first step in finally purging delayed distress left over from the bursting housing bubble," said Daren Blomquist, vice president at RealtyTrac. "Meanwhile, the underlying fundamentals in many of those markets are slowly improving, making it an opportune time to absorb additional foreclosure inventory this year -- and that is particularly good news for buyers and investors hungry for more inventory to purchase in those markets."

Florida cities account for eight of top 20 metro foreclosure rates
Despite double-digit percentage decreases in foreclosure activity compared to 2011, California cities accounted for the top four metro foreclosure rates, led by Stockton with 3.98 percent of housing units (one in 25) with a foreclosure filing during the year -- nearly three times the national average.

Other California cities with foreclosure rates among the 20 highest were Riverside-San Bernardino-Ontario at No. 2 (3.86 percent of housing units with a foreclosure filing), Modesto at No. 3 (3.82 percent), Vallejo-Fairfield at No. 4 (3.73 percent), Merced at No. 11 (3.23 percent), Bakersfield at No. 15 (3.11 percent), and Sacramento at No. 20 (2.94 percent). All seven California cities in the top 20 documented declining foreclosure activity compared to 2011.

Florida cities accounted for eight of the 20 highest metro foreclosure rates, led by Miami at No. 5 with 3.71 percent of housing units with a foreclosure filing during the year. Other Florida cities in the top 20 were Palm Bay-Melbourne-Titusville at No. 6 (3.60 percent), Orlando at No. 8 (3.46 percent), Tampa at No. 12 (3.22 percent), Lakeland at No. 13 (3.17 percent), Jacksonville at No. 14 (3.14 percent), Cape Coral-Fort Myers at No. 18 (3.08 percent), and Ocala at No. 19 (3.01 percent). Except for Cape Coral-Fort Myers, all Florida cities in the top 20 documented increasing foreclosure activity from 2011 to 2012.

Other cities with foreclosure rates among the nation's 20 highest were Atlanta at No. 7 (3.51 percent of housing units with a foreclosure filing), Chicago at No. 9 (3.31 percent), Rockford, Ill., at No. 10 (3.28 percent), Las Vegas at No. 16 (3.10 percent), and Phoenix at No. 17 (3.09 percent).

Best Places to Buy Foreclosures in 2013
To select the best places to buy foreclosures in 2013, RealtyTrac scored all metro areas with a population of 500,000 or more by summing up four numbers: months' supply of foreclosure inventory, percentage of foreclosure sales, foreclosure discount, and percentage increase in foreclosure activity in 2012.

Topping the list of best places to buy foreclosures in 2013 was the Palm Bay-Melbourne-Titusville metro area in Florida with a total score of 394: 34 months' supply of inventory, foreclosure sales representing 24 percent of all sales, average foreclosure discount of 28 percent, and a 308 percent increase in foreclosure activity in 2012 compared to 2011.

Five other Florida cities ranked among the Top 20 best places to buy foreclosures: Lakeland, Tampa, Jacksonville, Orlando, and Miami.

Five New York cities ranked among the 20 best places to buy foreclosures in 2013, based largely on big backlogs of foreclosure inventory and big increases in foreclosure activity in 2012: Rochester, Albany, New York, Poughkeepsie, and Syracuse.

Other cities in the Top 20 were Chicago, Ill.; El Paso, Texas; Philadelphia; Allentown, Pa.; Youngstown, Ohio; Bridgeport, Conn.; Cleveland, Ohio; New Haven, Conn.; and Indianapolis, Ind.



----------------------------------------------------------------------------
                                         Foreclosure Avg         Foreclosure
                               Inventory Sales Pct   Foreclosure Activity
                        Total  Months'   of All      Discount    Annual Pct
MSA                     Score  Supply    Sales       Pct         Change
----------------------------------------------------------------------------
Palm Bay-Melbourne-
 Titusville, FL         394.11        34       23.81       28.05      308.71
----------------------------------------------------------------------------
Rochester, NY           239.32        78        3.16       25.78      132.61
----------------------------------------------------------------------------
Albany-Schenectady-
 Troy, NY               231.62        86        3.17       35.08      107.72
----------------------------------------------------------------------------
New York-Northern New
 Jersey-Long Island,
 NY-NJ-PA               172.85        97        7.70       40.35       27.91
----------------------------------------------------------------------------
Lakeland, FL            167.65        33       24.36       15.09       95.65
----------------------------------------------------------------------------
Tampa-St. Petersburg-
 Clearwater, FL         163.46        32       24.67       26.64       80.16
----------------------------------------------------------------------------
Jacksonville, FL        146.49        34       29.26       32.29       51.36
----------------------------------------------------------------------------
Poughkeepsie-Newburgh-
 Middletown, NY         143.07        92        6.59       28.35       16.51
----------------------------------------------------------------------------
Orlando-Kissimmee, FL   141.88        28       30.14       19.24       64.34
----------------------------------------------------------------------------
Chicago-Naperville-
 Joliet, IL-IN-WI       141.88        36       30.04       46.03       30.21
----------------------------------------------------------------------------
El Paso, TX             135.50        15        8.79       17.80       93.42
----------------------------------------------------------------------------
Miami-Fort Lauderdale-
 Pompano Beach, FL      124.43        29       28.70       30.58       36.17
----------------------------------------------------------------------------
Philadelphia-Camden-
 Wilmington, PA-NJ-DE-
 MD                     124.30        42       11.91       43.17       27.01
----------------------------------------------------------------------------
Allentown-Bethlehem-
 Easton, PA-NJ          122.44        34       11.87       39.70       37.21
----------------------------------------------------------------------------
Youngstown-Warren-
 Boardman, OH-PA        122.21        61       13.61       32.63       15.32
----------------------------------------------------------------------------
Bridgeport-Stamford-
 Norwalk, CT            121.73        10        9.83       52.22       49.37
----------------------------------------------------------------------------
Syracuse, NY            119.48        39        1.60       21.25       57.40
----------------------------------------------------------------------------
Cleveland-Elyria-
 Mentor, OH             119.23        32       21.64       46.97       18.83
----------------------------------------------------------------------------
New Haven-Milford, CT   118.88         9       13.66       41.87       54.18
----------------------------------------------------------------------------
Indianapolis-Carmel, IN 118.63        26       18.97       35.51       38.04
----------------------------------------------------------------------------


Worst Places to Buy Foreclosures in 2013
The metro with the lowest score was McAllen, Texas, with a 12-month supply of foreclosure inventory, foreclosure sales accounting for 7 percent of all sales, an average foreclosure discount of 21 percent, and a 66 percent decrease in foreclosure activity in 2012 compared to 2011.

Metros with the lowest scores were dominated by cities in the west, including Ogden, Utah; Las Vegas, Salt Lake City, Phoenix, Portland, Ore., San Jose, Calif., and Honolulu.



----------------------------------------------------------------------------
                                         Foreclosure Avg         Foreclosure
                               Inventory Sales Pct   Foreclosure Activity
                        Total  Months'   of All      Discount    Annual Pct
MSA                     Score  Supply    Sales       Pct         Change
----------------------------------------------------------------------------
McAllen-Edinburg-
 Mission, TX            -25.34        12        7.14       21.49      -65.90
----------------------------------------------------------------------------
Ogden-Clearfield, UT     -7.64        13       14.70       14.72      -50.09
----------------------------------------------------------------------------
Little Rock-North
 Little Rock-Conway, AR  -2.29        15        7.14       24.34      -48.64
----------------------------------------------------------------------------
Las Vegas-Paradise, NV    9.25         7       42.06       16.79      -56.97
----------------------------------------------------------------------------
Salt Lake City, UT       12.09        19       17.67       13.37      -37.71
----------------------------------------------------------------------------
Boise City-Nampa, ID     20.68        13       16.64       18.98      -27.55
----------------------------------------------------------------------------
Buffalo-Niagara Falls,
 NY                      29.46        37        2.41       32.92      -42.97
----------------------------------------------------------------------------
Phoenix-Mesa-
 Scottsdale, AZ          30.32         9       34.73       24.20      -37.25
----------------------------------------------------------------------------
Portland-Vancouver-
 Beaverton, OR-WA        30.50         9       21.81       28.16      -28.09
----------------------------------------------------------------------------
Provo-Orem, UT           35.35        11       17.93       50.12      -44.06
----------------------------------------------------------------------------
Honolulu, HI             40.61        50        5.17       20.06      -34.49
----------------------------------------------------------------------------
San Jose-Sunnyvale-
 Santa Clara, CA         41.63         9       25.96       42.77      -36.13
----------------------------------------------------------------------------
Fresno, CA               41.85        10       39.13       22.68      -29.99
----------------------------------------------------------------------------
Bakersfield, CA          43.50        10       42.80       15.97      -25.27
----------------------------------------------------------------------------
Stockton, CA             44.97         8       52.57        8.99      -25.02
----------------------------------------------------------------------------
Oxnard-Thousand Oaks-
 Ventura, CA             45.48        11       37.50       20.39      -23.66
----------------------------------------------------------------------------
Austin-Round Rock, TX    46.19        13        7.97       44.58      -19.74
----------------------------------------------------------------------------
Modesto, CA              48.21         8       55.49       10.65      -26.00
----------------------------------------------------------------------------
Sacramento--Arden-
 Arcade--Roseville, CA   48.27         8       43.35       24.78      -28.31
----------------------------------------------------------------------------
Knoxville, TN            48.53        15       13.30       34.91      -14.40
----------------------------------------------------------------------------


Report Methodology
The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the quarter -- broken out by type of filing. Some foreclosure filings entered into the database during a quarter may have been recorded in previous quarters. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac's report incorporates documents filed in all three phases of foreclosure: Default -- Notice of Default (NOD) and Lis Pendens (LIS); Auction -- Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the quarterly report, if more than one foreclosure document is received for a property during the quarter, only the most recent filing is counted in the report. The quarterly report also checks if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current quarter.

Report License
The RealtyTrac U.S. Foreclosure Market Report is the result of a proprietary evaluation of information compiled by RealtyTrac; the report and any of the information in whole or in part can only be quoted, copied, published, re-published, distributed and/or re-distributed or used in any manner if the user specifically references RealtyTrac as the source for said report and/or any of the information set forth within the report.

Data Licensing and Custom Report Order
Investors, businesses and government institutions can contact RealtyTrac to license bulk foreclosure and neighborhood data or purchase customized reports. We can provide you with nationwide, regional or local data and reports dating back to 2005 for both internal use and resale. For more information contact our Data Licensing Department at 800.462.5193 or [email protected].

About RealtyTrac Inc.
RealtyTrac (www.realtytrac.com) is the leading supplier of U.S. real estate data, with more than 1.5 million active default, foreclosure auction and bank-owned properties, and more than 1 million active for-sale listings on its website, which also provides essential housing information for more than 100 million homes nationwide. This information includes property characteristics, tax assessor records, bankruptcy status and sales history, along with 20 categories of key housing-related facts provided by RealtyTrac's wholly-owned subsidiary, Homefacts®. RealtyTrac's foreclosure reports and other housing data are relied on by the Federal Reserve, U.S. Treasury Department, HUD, numerous state housing and banking departments, investment funds as well as millions of real estate professionals and consumers, to help evaluate housing trends and make informed decisions about real estate.

Media Contacts:
Jennifer von Pohlmann
949.502.8300, ext. 139
[email protected]

Ginny Walker
949.502.8300, ext. 268
[email protected]

Data and Report Licensing:
800.462.5193
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
If there is anything we have learned by now, is that every business paves their own unique path for releasing software- every pipeline, implementation and practices are a bit different, and DevOps comes in all shapes and sizes. Software delivery practices are often comprised of set of several complementing (or even competing) methodologies – such as leveraging Agile, DevOps and even a mix of ITIL, to create the combination that’s most suitable for your organization and that maximize your busines...
Struggling to keep up with increasing application demand? Learn how Platform as a Service (PaaS) can streamline application development processes and make resource management easy.
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists will dis...
Unless you don’t use the internet, don’t live in California, or haven’t been paying attention to the recent news… you should be aware that self-driving cars are on their way to becoming a reality. I have seen them – they are real. If you believe in the future reality of self-driving cars, then continue reading on. If you don’t believe in the future possibilities, then I am not sure what to do to convince you other than discuss the very real changes that will roll out with the consumer producti...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
IoT device adoption is growing at staggering rates, and with it comes opportunity for developers to meet consumer demand for an ever more connected world. Wireless communication is the key part of the encompassing components of any IoT device. Wireless connectivity enhances the device utility at the expense of ease of use and deployment challenges. Since connectivity is fundamental for IoT device development, engineers must understand how to overcome the hurdles inherent in incorporating multipl...