The number of foreclosure filings in Manatee County fell slightly in August from the record-breaking heights the month before.
August saw 456 foreclosure filings, according to Manatee County Clerk of Court records, bringing the total for the year to 3,616.
The number of foreclosures so far this year has eclipsed the number of foreclosures in all of 2007 by nearly 1,000, and there are still four months to go.
In July, Manatee County saw a one-month record of 502 foreclosure filings.
Pete Minarich, vice president of Benchmark Mortgage in Bradenton, said he would like to think the one-month decline in foreclosure filings might mean Manatee County has turned a corner.
But it will take several months more of declines in a row to establish a trend, Minarich said.
While local Realtors report that much of their recent business has been in distressed sales, it doesn't necessarily mean that the property is being given away. The median price of existing homes sold in Bradenton-Satasota in July was $230,100, well above the state average, according to the Florida Association of Realtors.
"It's very difficult to work with a buyer who is looking at short sales or foreclosures because they think they are going to get it for a steal," said Ron Cornette, director of training and marketing for Wagner Realty.
Since the beginning of the year, only two homes in Manatee County have been listed in Multiple Listings Service as being sold in time to stop the home from becoming bank-owned.
What many people making offers on these homes or even the bank-owned homes aren't taking into consideration is that the banks are hurting, too, Cornette said.
In some cases, banks will have to take losses because they are owed more than the home is worth, but that doesn't mean they will sell the home at half of its market value.
"We spend a lot of time making offers that are never going to fly," Cornette said.
While some states experiencing high rates of foreclosure have passed legislation requiring lenders to make a more valiant effort to work with home owners, Florida has not.
Selling foreclosed properties may get a little easier with new assistance programs being offered, experts said. Many struggling homeowners are waiting to hear about an FHA loan coming out in October that may allow them to refinance their loans.
"I'm getting a ton of calls now on the FHA loans coming in October," Minarich said.
Because those in foreclosure can't or don't want to pay closing costs and new home buyers are often strapped for cash, a new bond program being offered by Benchmark and a few other lenders will provide much needed down payment assistance.
"You could get assistance and buy a $400,000 house if you qualify," Minarich said.
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