REO and distressed property, four counties, one broker.
Last updated
I've been doing short sales since 1994 and REO since 1998, across Flagler, Volusia, St. Johns and Putnam counties. Below is my free monthly Distressed Market Brief, tools for investors, and how to send me an asset.
Investors: estimate a rent or find an investment lender.
October 2026
Where distress is building, and where it's turning into property. Every number is public and sourced below.
"What asset managers should know this month is that REO is not driving anything here. Resale properties are flat with pricing and saturated inventory levels, but the homes that are priced correctly are moving fairly quickly, under 80 days, with the sweet spot at homes that are marketed 30 to 40 days seeing the best returns. New construction is 50% of our local market in Flagler County and very strong in the collar counties, so rate buydowns and warranties are driving buyers there. You need to price your properties right out of the gate."Dave Petkovsek, Real Estate Broker & Instructor · October 2026
of mortgages 90+ days late, 3-month average to December 2025. A year earlier: 0.7%. U.S.: 0.9%.
of mortgages 90+ days late, 3-month average to December 2025. A year earlier: 0.9%. U.S.: 0.9%.
of mortgages 90+ days late, 3-month average to December 2025. A year earlier: 0.3%. U.S.: 0.9%.
Mortgages 90+ days late
Share of mortgages seriously behind, 3-month average, through December 2025. Serious delinquency is the step before foreclosure.
CFPB Mortgage Performance Trends (National Mortgage Database). Putnam County is too small to be published.
Mortgages 30–89 days late
The earlier warning sign, 3-month average, through December 2025.
CFPB Mortgage Performance Trends (National Mortgage Database).
Distressed transfers in public records, 2026 so far
Residential sales the county appraiser coded as bank or lender transfers (foreclosure deeds, deeds in lieu, bank-owned resales), government-agency transfers (HUD, Fannie Mae, Freddie Mac, FDIC) and forced or pre-foreclosure sales. Compared with the same months last year.
| County | Through | Bank & lender | Agency | Forced / pre-foreclosure | Total this year | Same months last year | Change |
|---|---|---|---|---|---|---|---|
| Flagler | August 2026 | 41 | 12 | 1 | 54 | 36 | +50% |
| Volusia | August 2026 | 66 | 184 | 112 | 362 | 269 | +35% |
| St. Johns | August 2026 | 5 | 71 | 11 | 87 | 62 | +40% |
| Putnam | May 2026 | 0 | 18 | 1 | 19 | 25 | -24% |
Each county's appraiser applies these codes in its own way, so compare a county with itself over time, not with another county. Recent months fill in as deeds are recorded; each county stops at its last complete month.
What I do for asset managers
Local knowledge for your portfolio, from first inspection to closing.
REO listing & disposition
Occupancy checks, securing the property, condition reports and photos, vendor coordination, marketing and closing, reported on your platform and schedule.
Broker price opinions
Accurate BPOs with real comparable sales from public records and the MLS, on time, across all four counties.
Short sales
Short sales since 1994: packages, negotiation and closing, with sellers treated with respect through a hard time.
The market behind each county: Flagler · Volusia · St. Johns · Putnam · The Market Desk
Buying to rent or to flip?
Two things every investor asks me first: what will it rent for, and who will lend on it.
Rent Estimator
A few questions about a home, duplex, condo or commercial space, and an estimate from real local leases in all four counties, with yield and cap rate.
Estimate a rent → Resource listInvestment lenders
Hard money and fix-and-flip lenders, rental (DSCR) loans, local banks for commercial and multifamily, and how to check a lender's license.
See the lenders →Who lends on investment property here
Lenders that make investor loans in Northeast Florida, each checked on its own website. Have a deal and not sure where it fits? Call me and I'll point you to the right one.
Hard money & fix-and-flip
Short-term loans to buy and fix, often with the rehab money included.
Streetly Capital
Winter Park, FLCentral Florida private lender: fix-and-flip with up to 100% of rehab, bridge loans up to 24 months, and ground-up construction.
LendingOne
Boca Raton, FLFix-and-flip up to 92.5% of cost plus 100% of rehab; also fix-to-rent, new construction, bridge, DSCR rental and portfolio loans.
Soviero Capital
Jupiter, FLFamily-run private and hard money lender that lends across Florida, based on the property; call for terms.
Kiavi
Pittsburgh, PAFix-and-flip loans $75K-$5M, up to 100% of purchase and rehab (80% of after-repair value); also bridge, new construction and DSCR rental loans.
Lima One Capital
Greenville, SCFix-and-flip, Fix2Rent, new construction, bridge, rental and multifamily loans in 46 states.
RCN Capital
South Windsor, CTFix-and-flip $75K-$2M, up to 100% of purchase and rehab (75% of after-repair value); also 30-year rentals, new construction and multifamily.
New Silver
West Hartford, CT (Clearwater, FL office)Fix-and-flip up to $5M with up to 100% of rehab, ground-up construction up to 90% of cost, and 30-year rental loans; apply online.
Rental (DSCR) loans
Long-term loans sized on the property's rent, not your personal income.
LendSimpli
Tampa Bay area, FL30-year rental loans for 1-4 unit investment homes, $75K-$2M, up to 80% of value, no personal income check; also portfolio and bridge loans.
Easy Street Capital
NationalDSCR rental loans $75K-$3.5M up to 80% of value with no minimum DSCR, short-term rentals OK; also fix-and-flip and construction.
CoreVest Finance
Irvine, CA30-year DSCR loans up to 80% of value and rental portfolio loans; also fix-and-flip, bridge, construction and build-to-rent.
Local banks & commercial
Lenders here at home for investment, multifamily and commercial property.
Intracoastal Bank
Palm Coast, FLLocal Flagler and Volusia bank: business real estate loans to buy investment or office property, refinance, improve or build.
Community First Credit Union of Florida
Jacksonville, FL areaCommercial real estate loans for investment property (up to 75%), owner-occupied (80%) and construction, including multifamily of 4+ units; serves Flagler, Volusia, St. Johns and Putnam members.
Mainstreet Community Bank of Florida
DeLand, FLVolusia community bank: commercial real estate mortgages, construction and land development loans, lines of credit.
Find & verify a lender
Check a license before you sign, and find more lenders.
Florida OFR - Verify a License
Tallahassee, FLFlorida's official license check; for mortgage lenders it points to NMLS Consumer Access.
NMLS Consumer Access
NationalFree national lookup that shows whether a mortgage lender or loan officer is licensed, and where.
American Association of Private Lenders - Member Directory
NationalDirectory of private and hard money lenders who belong to the national trade group.
BiggerPockets Lender Finder
NationalInvestor-friendly lender finder from the largest real estate investor community.
SBA Lender Match
Washington, DCShort free form; the SBA sends local lenders who are interested within about two business days. Best for buying property your business will use; not for pure rentals.
These are not endorsements, and terms change often. Compare at least three lenders, read the loan terms, and check the license before you sign (Florida OFR and NMLS links above). Listings checked October 14, 2026. Lenders: to be listed or updated, use the form below.
Questions from asset managers and investors
Who handles REO listings in Flagler, Volusia, St. Johns and Putnam?
I do. I've been doing short sales since 1994 and REO since 1998 across all four counties, with 1,000+ bank-owned homes closed personally. Send an asset or request a BPO below, or call 386-627-3182.
What do you do on an REO assignment?
Occupancy checks, securing the property, condition reports and photos, vendor coordination, marketing and closing, reported on your platform and schedule. I work on RES.NET, Equator, Pyramid and RIO Genesis.
Do you do BPOs in all four counties?
Yes. Accurate BPOs with real comparable sales from public records and the MLS, on time, across Flagler, Volusia, St. Johns and Putnam.
Is REO driving the market here right now?
Not in October 2026. In my words: "REO is not driving anything here. Resale properties are flat with pricing and saturated inventory levels, but the homes that are priced correctly are moving fairly quickly, under 80 days." The full monthly Distressed Market Brief is at the top of this page.
What will an investment property rent for?
Use the free Rent Estimator: a few questions about a home, duplex, condo or commercial space, and an estimate from real local leases in all four counties, with yield and cap rate.
Send an asset, request a BPO, or ask about a deal
This goes straight to me. I'll reply personally, usually the same business day. Please don't include borrower personal information here.
Sources and method
- Late mortgages: Consumer Financial Protection Bureau, Mortgage Performance Trends (National Mortgage Database, a sample of mortgages), county data through December 2025, shown as 3-month averages. Putnam County is too small to be published.
- Distressed transfers: residential parcels (single-family, condo, manufactured), appraiser sale codes 12, 18 and 38, from the Florida Department of Revenue sale files (Volusia, St. Johns, Putnam) and the Flagler County Property Appraiser (Flagler). Multi-parcel sales left out.
- Compiled by Dave Petkovsek, Real Estate Broker & Instructor, Realty Exchange. Updated October 13, 2026. Using these figures? Please credit "FlaglerDave.com".