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Friday, November 30 2007 @ 09:26 AM Central Standard Time
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Foreclosure activity in Southwest Florida gained momentum during October, with month-to-month foreclosure filings rising 93 percent.
There were 1,648 foreclosure filings last month -- default notices, auction sale notices and bank repossessions -- up from 856 the previous month. October also eclipsed August, a month when foreclosures spiked nationally and hit 1,015 filings in the region.
Across the nation, foreclosures rose only 2 percent from September to October, leading some to suggest that the phenomenon might be leveling off for the time being. That certainly was not the case in Manatee, Sarasota and Charlotte counties, where the October numbers accounted for 30 percent of the region's 5,516 filings so far this year.
Sarasota-Bradenton's per-capita foreclosure filings ranked 19th nationally during October: one for every 221 households, according to RealtyTrac Inc., the Irvine, Calif.-based company that tracks foreclosures.
The per-capita figure for the Charlotte County-North Port area was one for every 363 households, putting it among the top 50 markets nationally. "Is it the tip of the iceberg or is it the iceberg?" asked Jody Hudgins, the Florida executive for the First National Bank of Pennsylvania.
Vanessa Arellano Doctor
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