Florida continues to have one of the highest rates of foreclosures in the nation.  California and Nevada round out the top three and foreclosures were reported as increasing 32 percent from last year.

This means that more bank repos are on the way and depreciation of Florida real estate values will continue. 

The bottom is still a long way off, and investors should be patient, consider cashflow and ask “what if this property depreciates 3% per year for the next ten years?”

This statement is worth noting “In Florida, one in every 135 households received a filing in April.”  see full article here

RealtyTrac: April foreclosures rise 32 percent – Yahoo! Finance