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Fla. Cities Lead Nation In High-End Foreclosures

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A bank owned sign is seen in front of a foreclosed home. (Photo by Joe Raedle/Getty Images)

A bank owned sign is seen in front of a foreclosed home. (Photo by Joe Raedle/Getty Images)

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ORLANDO, Fla. (AP) — Two Florida cities lead the nation in foreclosures of high-end properties worth $5 million or more.

The research firm RealtyTrac said in a report Wednesday that Miami and Orlando were at the top of the list of foreclosure activity on homes in the $5 million-plus range.

Other cities with high numbers of foreclosure activity on high-priced homes included the Los Angeles area, metro Atlanta and metro New York City.

At the state level, Florida and California made up 60 percent of the high-end foreclosures this year.

The number of high-end foreclosures is relatively small — only about 200 compared to the 1.2 million properties that had foreclosure activity this year.

But while overall foreclosure activity is down this year, it is up for the high-priced homes.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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