The national foreclosure rate is at a six-year low according to RealtyTrac, signaling that perhaps there is finally a light at the end of the tunnel for the national real estate market. It’s a positive sign for homeowners everywhere, even in the hardest hit of states, including Florida, which has been at or near the top of the highest foreclosure rates for years.
Your Suncoasteam.com is the local leader for southwest Florida real estate, helping homebuyers and sellers to quickly and easily achieve their goals and realize their dreams. They are dedicated to helping each individual and family find the perfect match, and they’re also committed to helping their clients understand the market and its trends.
This helps each person protect his or her own best interests, and capitalize on the latest developments which could either help them land a great deal, or make a great sale. That’s why Your Suncoasteam wants to inform both buyers and shoppers for southwest Florida real estate that the foreclosure rate is on the decline.
Still, the state of Florida has a foreclosure rate of more than 2.5 times the national average. That translates to .24%, or 1 in every 409 homes, compared to .09% nationally, also according to RealtyTrac. Approximately 19.3% of homes in the state are currently vacant, compared to 12.15% of homes nationwide. Additionally, eight of the 10 highest foreclosure rates by city are located within the state of Florida.
Still, despite the fact that Florida has the highest foreclosure rate in the country, there was a 46% annual decrease in foreclosure starts in the state, and a 16% annual decrease in bank repossessions. That means there are certainly positive signs for the future, and along with expected increases in the value of homes in 2014, the Florida real estate market is indicating that it’s on the mend, and will continue to get healthier as time progresses.
Visit Suncoasteam.com to see all of the latest listings of beautiful properties for sale in southwest Florida, or call 941.235.7474 with any questions or for more information about how the latest foreclosure rates and news impacts the current market for homes in Florida.
About Your Suncoasteam – Suncoasteam Realty, LLC
Your Suncoasteam is the leading resource for southwest Florida real estate, including hundreds of properties all across Charlotte, Sarasota and Manatee Counties. The realtors at Your Suncoasteam are dedicated to helping each and every person find their dream property, at affordable, reasonable prices, in beautiful cities such as Sarasota, North Port, Venice, Punta Gorda, Port Charlotte, and many others. Learn more about Your Suncoasteam and browse all of the current properties for sale by visiting Suncoasteam.com or calling 941.235.7474.