Fort Lauderdale Foreclosure Listings

During the first six months of 2010 repossessions climbed 38 percent. This is a 5% increase 5 percent from the first quarter, RealtyTrac announced Thursday. RealtyTrac is a Fort Lauderdale foreclosure listing service*.

Lenders repossessed nearly 528,000 homes in the first six months of the year. If that rate continues through the end of the year, repossessions will likely top 1 million in 2010, up 100,000 from 2009.

Historically RealtyTrac reports, about 100,000 homes per year are repossessed, according to Rick Sharga, senior vice president for RealtyTrac.

More than 7.3 million home loans are in the foreclosure process, which translates to about one in 78 U.S. homes receiving a foreclosure warning in June. Of those 7.3 million, there are approximately 4,200 Fort Lauderdale foreclosure listings on the market right now with a median price of $145,000.

On average, it takes home owners 15 months to actually lose their property after they receive the initial warning, reports Lender Processing Services Inc. Source: Associated Press, Alex Veiga (07/15/2010)

This news update was brought to you by Fort Lauderdale realtors Eileen Kedersha and William Kedersha. Search all Fort Lauderdale Homes for Sale at their Top Fort Lauderdale Real estate site. Here you will find a complete and updated daily list of all Fort Lauderdale homes and condos for sale, simply click here taken directly to a webpage that you can complete a free search and immediately view all Active listings in the Fort Lauderdale, including REO and Short Sale listings. You can also take advantage of their complimentary offer; “What is my home worth electronic evaluation service.”  If you are looking to purchase or sell a condo in the Fort Lauderdale Area, be sure to check out Fort Lauderdale’s Most Comprehensive Condo Directory, its free.

*RealtyTrac services the entire US

Fort Lauderdale Foreclosure Listings

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Posted on Saturday, July 17th, 2010 at 5:57 pm and is filed under REO and Short Sales. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.