1% of Sarasota homes are REO

SARASOTA — Through October 2010, 1.02% of homes with a mortgage in the North Port-Bradenton-Sarasota area were returned to mortgage lenders after failing to sell in an auction, putting them in real estate owned (REO) status, according to CoreLogic.

That is up 0.55 percentage points from a year ago, CoreLogic said.

The foreclosure rate among homes with a mortgage in the area is 10.99%, 1.26 percentage points higher than it was a year ago, and 7.66 points higher than the national average.