Gainesville Ranks 7th on a list of New Foreclosure Capitals
By: Yaremi Farinas
Gainesville made the top ten on a list, but it's not the good news you'd like to hear. Painting a dismall picture of the city's housing market.
Gainesville ranked seventh on Forbes list of America's 20 New Foreclosure Capitals because of a recent spike. We spoke to one woman who said shes definitely noticed more people in Gainesville have gone into foreclosure.
"Alot of people i know were in that situation," said Nettie Maguire.
Maguire has lived in a neighborhood in Northwest Gainesville for the past 17 years. She told us foreclosures haven't been a problem at Rock Creek, but she knows other neighborhoods haven't been so lucky.
"It's tough to see friends move have to move away form the area in order to be able to afford to live," said Maguire.
She said it's sad to hear that Gainesville came in at number seven on a list of America's 20 New Foreclosure Capitals.
We spoke to Henry Rabell with Bosshardt Realty. He told us it's not a surprise the city ranked so high.
"Gainesville and Alachua County in general, has got a poverty rate that's twice that of the state. Period. You've got people living below the poverty line," said Rabell.
He explained that out of the total amount of homes available for sale in Gainesville right now, six percent foreclosed.
Seven other cities in Florida also made the list including Orlando, Tallahassee and Tampa. Ocala came in at number 16.
"I think the state of Florida, you've got a lot of retirees that move here. You got people that move here and buy second homes. It's a nice place to live and so I think its just statistically you get more people moving into a particular location. The prices have a tendency to go up a little faster and of course when the crash happens, it happens a little harder," said Rabell.
As for Maguire, she considers herself lucky.
"To have to give up your life savings, it's painful. Even though it's not mine, I feel their pain," said Maguire.
Rabell told us there are programs available to help you avoid losing your home. Another option is to do a short sale. He said the worst thing you can do is nothing at all.
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