Florida Home Vacancy Rate Leads Nation

by Isaac Benmergui, Esq on March 25, 2012

Florida would rather be known for its beaches than its vacancy rate. At more than 20 percent, Florida outranks Nevada, which leads the country with the number of underwater mortgages at more than 61 percent. Florida, comes in third at 44 percent in the underwater mortgage category. “Being underwater isn’t the best news in the world, but if the homeowner’s finances are sound, he or she can still make the payments and keep their home,” states real estate attorney Isaac Benmergui.

Florida Leading State for Foreclosures

Florida also leads the state in the number of foreclosure or homes in the 90-plus days delinquent category, with home values that dropped by 40-plus percent – the fourth biggest decline in the nation. To understand how dire Florida’s situation truly is, Florida’s total property value is $809.95 billion with an outstanding mortgage debt of $706 billion, reports MSNBC.

If you’re a homeowner facing foreclosure or are interested in short selling your home, contact the law offices of Isaac Benmergui who can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

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