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Southwest Florida Foreclosure Update

Posted by Benjamin Dona on Wednesday, August 4th, 2010 at 5:17pm.

Southwest Florida Foreclosure UpdateFor 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.

SW Florida Foreclosed Properties

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3 Responses to "Southwest Florida Foreclosure Update"

Larry Fleckinger wrote:
We must not forget that the real estate market will not just hit bottom and then turn around and head back up like it fell....in Brevard appreciation flatlined through the 90's with mimimal 1-3% gains a year...I think that would be called normal?

Posted on Thursday, August 5th, 2010 at 8:42pm.

Benjamin wrote:
I agree. We had the same type of returns here in the 90's.

Posted on Friday, August 6th, 2010 at 12:50pm.

Marc in Miami wrote:
The real estate market may have hit rock bottom and is currently on the rebound. While the figures are very encouraging, the market is still quite volatile, especially when you check out other areas across the state. Nonetheless, I do hope things continue to get better.

Posted on Tuesday, August 10th, 2010 at 2:54pm.

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