As of May 11, 2008, the following statistics were found relating to distressed properties.
Miami-Dade County currently has 113,127 Preforeclosures, 38,786 Auctions and 10,122 REOs, which totals over 162,000 distressed properties. The Miami area is believed to be #4 in number of distressed properties.
There were an estimated 2,537,260 Pre-foreclosures, 1,518,436 properties in Auctions and 1,829,992 REOs, which total 5.885 million distressed properties nationally. This does not take into account homeowners who are late with mortgage payments or have not been reported.
Florida accounts for approximately 15% of all the distressed properties in the U.S.; California accounts for about 20%. In Florida there are currently 621,813 Preforeclosures, 173,596 Auctions and 107,773 REOs, which adds up to a total of 903,182 distressed properties. These are only the ones that are known and in the public records. By some experts estimates, the number of troubled households is probably double that if not more.
Sources are foreclosures.com. For more information on short sales and avoiding foreclosures, contact Michael Sahlman directly at 786.553.0697 or email him at Info@HomesForVIPs.com. Michael is a Certified Distressed Property Expert. The website is www.HomesForVIPs.com.
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