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New data shows jump in foreclosures in Bay Area counties

Posted: 5:00 PM, May 17, 2019
Updated: 2019-05-17 18:01:12-04
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NEW PORT RICHEY, Fla. -- Realtor Greg Armstrong says he’s sold more than a thousand foreclosed homes in the last 10 years.

“I’ve seen what ugly really looks like,” Armstrong said.

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But the numbers these days are just a fraction of what they were after the housing crash a decade ago.

“This isn’t really ugly. The economy is not going in the tank with foreclosures, he said.

But according to real estate data collected from ATTOM Data Solutions, Pasco County foreclosures in April more than doubled (up 112 percent) from the same time last year.

The numbers were slightly up in Hillsborough (up 9.5 percent) and Pinellas Counties (up 16 percent).

Manatee County foreclosures were up 41 percent, Sarasota saw a 19-percent jump.

Hernando County actually saw a drop by 7.7 percent.

And Armstrong says he is seeing a trend.

The foreclosures involve more and more seniors who are losing their homes.

“It is the weakest part of our population. The elderly. So we need to deal with it sooner rather than later," Armstrong said.

Armstrong says if seniors are running into trouble making house payments, contact your lender first, and let them know.

There are also county community development programs available to help too.

“I’m seeing more and more where they were just mortgaged to the hilt. They might be deceased. Or one spouse might have passed away. And they just walk away from it. And that’s concerning. I hate to see that," Armstrong said.

Despite the recent increase in Pasco’s foreclosures, Armstrong says it’s not affecting the real estate market.

Armstrong says it's market that is still very strong for sellers.