Opportinities in Florida

The article below was on Realty Trac's website along with and article stating there are large Equity firms/Real Estate firms buying up property, fixing then renting and Florida is one of their main searches for these opportunities. It might be worth checking out some of these opportunities because with these homes hitting the market rentals may go up and stablize.

Foreclosure inventory may be decreasing, but certain metros showed high levels of foreclosure activity in 2012, which means they might also be places where foreclosure listings-short sales or REOs—could increase, according to an article from RealtyTrac.

After assessing foreclosure activity across the country, the foreclosure data provider released a list of 20 metros where for-sale foreclosures are expected to rise in 2013. RealtyTrac selected metros based on the annual percent change in foreclosure activity and the number of foreclosure starts and completions through November 2012.

All metros had at least 2,000 foreclosure starts and REOs and experienced at least a 20 percent increase in foreclosure activity, or starts and REOs.

Among the list of 20 metros, eight were based in Florida, with Palm Bay leading with the highest annual percent change in foreclosure activity. Over a one-year period, Palm Bay has seen its foreclosure activity increase by 110 percent. Other Florida metros on the list included Lakeland, Tampa, Panama City, Pensacola, Jacksonville, Orlando, and Ocala.

Among those metros, Tampa and Orlando were notable for their high number of foreclosure starts, which numbered 22,594 and 17,429, respectively.

North Carolina had four metros on the list: Raleigh, Charlotte, Winston-Salem, and Greensboro. In Raleigh, foreclosure activity increased 62 percent in 2012.

Two Connecticut metros, New Haven and Bridgeport, also made the list.

New York, which is known for its long foreclosure timeline, was listed as having 30,455 foreclosure starts.

The remaining metros where foreclosure listings are expected to rise were Omaha, Nebraska; Rockford, Illinois; Pittsburgh; Allentown, Pennsylvania; and Cleveland, Ohio.