The Foreclosure Report

Foreclosures 'Heat Up' In South Florida

A foreclosure press release from Florida. "The number of foreclosures has been heating up over South Florida since January 2006, with Broward County, up 50 percent, leading the other key counties, according to a real estate research company."

"'Increased foreclosure activity has been a common trend in South Florida over the last year, unfortunately Broward County has been the hardest hit,' said Serdar Bankaci."

"Broward leads South Florida with the most foreclosure activity, but Palm Beach and Miami-Dade are not far behind. Palm Beach is second with 37 percent and Miami is a close third at 30 percent. The worst part is, the double-digit increases that started back in May of 2005 do not show any signs of cooling off anytime soon."

"'Investors are shying away from the Eastern coast and focusing on the Gulf coast which has seen significant decreases in 2006,' said Bankaci."

posted by Ben Jones @ 2:36 PM