Port St. Lucie housing market foreclosure activity still high

PORT ST. LUCIE, Fla. - Real estate information company RealtyTrac's latest data shows 1 in every 338 Florida housing units received a foreclosure filing last month.

St. Lucie County still has one of the highest foreclosure rates in the state, while the city of Port St. Lucie maintains its reputation for having a rough housing market.

Port St. Lucie Realtor Vickie Smith said don't let the grim numbers fool you for all of the city. She said investors seek out foreclosed properties in certain areas, like this home in Traditions, and PGA Village.

"Every foreclosure that comes out gets a lot of attention, and it's on the market for a very short amount of time," said Smith. "There are more buyers this year. There was a pent-up demand."

That demand drove Port St. Lucie homeowner Lynne Kopas two years ago, when she took advantage of the crashing Port St. Lucie housing market.

"Originally I believe the price was 310, and I got it for 180," said Kopas.

She says the bust came after too many houses were built, and with a weak economy, some had to pay the price.

"I think they probably overbuilt, and because of the downside of the market, that's why there was more left over for foreclosures," recalled Kopas.

But for buyers like her who are seeking a deal, the high rate of foreclosures means the price is right.

"Now I see the trend that the house is going up, so I think I made a wise investment," Kopas said.

 

 

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