A foreclosures event focused on Orlando property has been hailed as a success by its founder and organiser Phil Peachey.

Held over the weekend of February 7th and 8th, the Orlando Foreclosures Expo was the first of its kind and was attended by industry figures, investors and homeowners.

Orlando property buyers had the chance to view a full list of foreclosed homes at the show, which are not normally available to the public.

Mr Peachey stated that the response from the inaugural event had shown that there is a "continued need" for the expo, with another now planned to take place at the beginning of June.

"It benefits every professional associated with the foreclosure industry and it helps those people who are trying to avoid foreclosure. That is our ultimate objective," he said.

In related news, Zillow’s recent Real Estate Market Report for the fourth quarter of 2008 showed that the average home in Orlando is now valued at $172,188 (£120,975) – a fall of 34.7 per cent from the market peak.

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