Foreclosures rise in January

GULF COAST — Foreclosure marketplace RealtyTrac released January data that confirmed an uptick in foreclosure filings in four of the seven Gulf Coast counties over the same month a year ago. The biggest year over year gains were felt in Pasco, which had a 48.57% increase, and Sarasota County, which saw foreclosures increase 22.22%.

Three Gulf Coast counties saw declines in foreclosures from January 2011. Charlotte's filings decreased 43.66% over the year, Collier's fell 4.15% and Hillsborough County's fell 29.86%.

However, compared with December, only Pasco County reported an increase in filings, with 60.55% more. Collier reported the biggest drop in January from December with a decrease of 28.21%.

Charlotte, Manatee and Pasco were in the top 10 of all Florida counties based on foreclosure filings per housing unit, ranked at third, sixth and fourth respectively. In Charlotte county, one in every 242 housing units have at least one foreclosure filing.

“Although overall foreclosure activity [nationwide] was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” Brandon Moore, CEO of RealtyTrac says in a news release. “Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Illinois, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.