Foreclosure filings have increased dramatically during the second quarter of 2009. The state of Florida is the most delinquent state in the nation according to the Mortgage Bankers Association.  Almost one in four homes were past due or in foreclosure.

The bad economy including rising unemployment as well as falling home prices are greatly affecting many homeowners. 

You drive by communities...you see the houses sitting empty...some kept up by the lenders others in a state of disrepair.

Some of these homes have the look of being vacant yet at least the grass is cut and some sort of general up-keep is taking place.  In Miami-Dade County, lenders are required to register the property and maintain it or face heavy fines...some municipalities have also stepped up their enforcement.

Many of the homes in many, many communities are occupied yet the homeowner is not making payments...these will eventually hit the market if the loan is not modified or they will hit the market as a foreclosure or as a short sale.

You wonder where are the homes for sale as in some areas we are seeing multiple offers and not much inventory.

It will be interesting to see in the next couple of months as well going into 2010 where the market goes....supply and demand...the rules of engagement in real estate.