Ocala has nation-high drop in home prices
Last Modified: Thursday, February 11, 2010 at 2:42 p.m.
The number of new January foreclosure filings nationwide dipped 10 percent compared to December, a trend that was also reflected in Marion County, which experienced a 3 percent decline.
But that good news, announced Thursday, was paired later in the day with a dismal statistic: The Ocala metro area experienced the largest in the nation --- 23.4 percent --- drop in median home prices for the fourth quarter of 2009. The Ocala median price was $93,200.
Foreclosures play a significant role in pushing down property vales. The Ocala area beat out Las Vegas, where the median home price dropped 23.3 percent in fourth-quarter 2009 compared with fourth-quarter 2008.
As for the foreclosures: RealtyTrac reported Thursday that Marion County saw 784 foreclosures last month compared with 807 in December. The statistic includes foreclosure and default notices, bank repossession, and foreclosure auction notices.
The latest RealtyTrac report indicates that one in every 197 Marion County homes received a foreclosure notice. The total number of Marion County properties in the foreclosure process is 6,226.
The metro area with the highest foreclosure rate in January was Las Vegas, with one in every 82 homes receiving a foreclosure filing. It was followed by Phoenix and the California cities of Modesto and Stockton.
Nationwide, 315,716 households received a foreclosure-related notice in January, which is one in every 409 homes.
RealtyTrac Inc., a Web site that analyzes foreclosure trends, said that even though foreclosure filings decreased throughout the country, they were still about 15 percent higher than the same time a year ago.
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