Walton County #1

[Matt J]

In foreclosures.

The most dramatic increase in foreclosures came in Walton County, Santa Rosa Beach/Miramar, where the totals jumped from 263 to 1,086...a whopping 313% increase.

http://www.wjhg.com/home/headlines/37687504.html

 

[Creeklover]

Most are for 2nd and 3rd homes. To bad for the owners

 

[Matt J]

Most are for 2nd and 3rd homes. To bad for the owners

True, Bay County is gonna kick our butts in the 2009/2010 numbers though.

 

[Just_In_Thyme]

Not really that shocking when you consider Walton is mostly a secondary home market.

 

[mikeyboy]

I'm curious. If there were 1086 foreclosures in walton county last year, what is the current status of the foreclosed properties? I count about 100 foeclosures listed in the mls. Have the others been sold? Have they not yet made it to market? Inquiring minds want to know.

 

[Matt J]

I'm curious. If there were 1086 foreclosures in walton county last year, what is the current status of the foreclosed properties? I count about 100 foeclosures listed in the mls. Have the others been sold? Have they not yet made it to market? Inquiring minds want to know.

It seems a lot have been winterized and locked up. Sitting empty until the bank can come close to recovering the bad debt.

 

[30ashopper]

I'm curious. If there were 1086 foreclosures in walton county last year, what is the current status of the foreclosed properties? I count about 100 foeclosures listed in the mls. Have the others been sold? Have they not yet made it to market? Inquiring minds want to know.

I wonder if this is total number of homes "in foreclosure" vs. homes that have ben "foreclosed on"? The numbers for Bay indicate they might the former. Not sure where the stats came from, a search of google news didn't turn anything up.

 

[florida girl]

So this means Walton County is in bigger trouble than anyone has admitted?

 

[ClintClint]

Almost without exception, our evolving societal morays and trends toward tolerance have produced good changes. Examples are outlooks on divorce, sexual orientation, pre-marital sex, race, religious beliefs, abortion etc. But, IMHO, unfortunately the stigma that used to be attached to bankruptcy and foreclosure has been minimalized. I realize the effects on credit scores, but the feeling of"shame" the borrower should try to avoid doesn't exist anymore. I don't wish any psychological distress upon anyone or their family, but financial failure has resulted in a blame game instead of an act of taking personal responsibility. I'm not sure that a Sowal property owner that lives in Atlanta and can mail his keys to the bank (jingle mail) and take a hit to his credit score, represents adequate motivation in an era of blame someone else. All property owners suffer from this behavior--its stark effect on values speak volumes. Victimless lifestyles and personal choices deserve tolerance. Unfortunate illness and job loss deserve compassion and support. Overindulgence, greed, and speculation deserve more of a consequence than now exists for the borrower. I would say the lender should share the consequences but we as taxpayers have already picked up that tab.

 

[ASH]

I wonder that the numbers aren't higher than shown as this still seems to be ballooning, not stabilized. The number of abandoned or closed up empty homes is staggering.