Southwest Florida Foreclosure Update
Posted by Benjamin Dona on Wednesday, August 4th, 2010 at 5:17pm.
For the first six months of 2010, new foreclosure filings fell in Lee and Collier counties in Southwest Florida. In fact, new foreclosure filings overall have fallen substantially from year ago levels.
For Lee County, there were 18,179 new filings from January to June, down 30% from year ago levels. For the month of June, the Cape Coral - Fort Myers area had 3,264 foreclosure filings, down 9% from May and down 32% from June 2009.
In Collier County, there were 6,251 new filings from January to June, down 11% from year ago levels. For the month of June, the Naples - Marco Island area had 1,132 foreclosure filings, down 9% from May and down 18% from June 2009.
The numbers are quite encouraging, especially when you consider we currently have less than 6,000 active foreclosure and short sale listings on the market in the two county areas.
Our belief is the worst is behind us and things will continue to get better. Unfortunately, no one can predict for certain what will happen. However, if things change like we think they will in November, the housing market turnaround here in Southwest Florida might just come more quickly than many economists are forecasting.
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