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Short Sale Realtor® Agent Announces Free Stop Foreclosure Help for Sarasota, Venice, Siesta Key, FL Senior Citizens!
While exact figures for the number of Sarasota County Senior Citizens Facing Foreclosure isn't readily obtainable, I have been able to piece together some statistics in order to come up with what I feel is a good overall estimate:
The Data
- There are 221,886 housing units in Sarasota County according to the latest U.S. Census data.
- The home-ownership rate in Sarasota County is reported to be at 79.1%.
- Senior Citizens (those 65+ years of age) make up 30.5% of the Sarasota County population.
- In the "North Port-Bradenton-Sarasota" corridor (the best available "data match") the Foreclosure Rate is reported at 11.33% and the number of mortgages that are 90+ Days Delinquent (but not yet formally in Foreclosure) is reported at 16.37%. Assuming those mortgages 90+ days delinquent will move into Foreclosure, the overall Foreclosure rate can be estimated at 27.7%.
The Analysis
- If there are 221,886 housing units in Sarasota County Florida and the home-ownership rate is 79.1%, then there are 175,512 owner occupied properties
(221,886 x 79.1% = 175,512). - If Senior Citizens make up 30.5% of the population, we'll assume they own a proportionate share of the housing units, equaling 53,531
(175,512 x 30.5% = 53,531). - If the overall foreclosure rate is estimated to be 27.7%, then approximately 14,828 Sarasota County Senior Citizens are currently in Foreclosure, or imminently facing Foreclosure (53,531 x 27.7%).
While we cannot be certain that these numbers are 100% accurate, we have to assume that they give a comparatively good rough estimate of the impact the mortgage crisis is having on Sarasota County Seniors.
Conclusion
Senior Citizens are not immune from the devastating impact that the weak local economy, and national housing crisis are having on the homeowners of Sarasota, Siesta Key, Venice, Nokomis, Laurel, Osprey, and other Sarasota County Florida communities.
The SaraMana preForeclosure & Short Sale Assistance Team helps both seniors and non-senior citizen property owners facing Foreclosure in Sarasota County to STOP Foreclosure, Avoid Deficiency Judgments, Successfully Short Sale their properties, and move on with their lives without the long-term overhanging debt, embarrassment, and social stigma that a Foreclosure often brings.
For more information on Sarasota Foreclosure Help, Call 941-822-5221, or use this ONLINE FORM.
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