NEWS
Increase in MSA foreclosure filings linked to rising prices
Osceola County sees the greatest jump in new filings during Q2 as lenders anticipate the recovery of mortgage debt
ORLANDO MSA FORECLOSURE FILING REPORT
Orlando Regional REALTOR® Association
Area
Q2 2019
% Change v Q2 2018 % Change v Q1 2019
The Orlando MSA ranked 23rd in the country in regard to the number
of homes in foreclosure per housing units. Three of its four counties
experienced year-over-year increases in Q2, with Osceola County posting
the biggest at 54% more foreclosures than the same time last year. Lake
County had the MSA’s only decrease in the number of foreclosures (23
percent less).
The United States as a whole had 19% fewer properties in foreclosure
in Q2 than in Q2 of 2018.
Correction
The e-mail address for Andrew M. Fisher, Esq., was listed incorrectly in the
Summer 2019 issue of Orlando REALTOR® magazine. His correct e-mail
address is afisher@fisherlawpa.com.
Orlando’s rising home values and buyer demand are
enticing more lenders to initiate foreclosure proceedings
with the expectation of recovering mortgage debt. According
to the Midyear 2019 U.S. Foreclosure Market Report from
ATTOM Data Solutions, the Orlando-Kissimmee-Sanford
Metropolitan Statistical Area had 17 percent more properties
in foreclosure during Q2 of 2019 than in Q2 of 2018.
“With median home sales prices being the highest they
have ever been since Q1 2007, lenders are becoming more
aggressive,” explains Todd Teta, chief product officer at
ATTOM Data Solutions. “We have continued to see an uptick
in foreclosure starts month over month in many parts of
Florida, with the Orlando market in particular seeing overall
foreclosure starts increasing at steady rates.”
“In addition, says Todd, “affordability in the Orlando
market definitely has a great impact, with the average wage
earners not being able to qualify to buy a home and home
prices outpacing wages in some of the counties that make up
the Orlando market.”
# Foreclosures Filing
MSA 1,957 +17% -4%
Lake County 177 -23% -12%
Orange County 1,004 +22% -7%
Osceola County 387 +54% -20%
Seminole County 389 +6% +34%
ORRA selects its reps for
NAR Board of Directors
Directors bring their local issues to national attention
The ORRA Board of Directors has appointed the following
members to serve on the 2020 NAR Board of Directors:
• Natalie Arrowsmith, NextHome Arrowsmith Realty;
• Christian Bohyn, Windmaker Realty;
• Juliana Boselli Neves, Glasstone Group Inc;
• Bob Caldwell, Caldwell Realty Services;
• Jeffrey M. Fagan, Watson Realty Corp;
• Mike McGraw, RE/MAX Central Realty; and
• Beverly Pindling, Beverly Pindling RE Services.
NAR directors are responsible for knowing the issues of importance
to their constituency and bringing matters of concern to the attention of
NAR; and knowing the issues of importance to NAR and reporting matters
of concern or actions taken by NAR back to their constituency.
10 Orlando REALTOR® Fall 2019
link
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