Foreclosures

Uncategorized

Mirroring national trends, foreclosures nose-dived in Southwest Florida in the first quarter over the year.

According to the Naples Daily News, in Collier County, foreclosures fell more than 27 percentĀ over the last year in the first quarter, to 341 from 470. That was a 19 percent drop from 421 in the fourth quarter in 2015. Lee County saw foreclosures drop more significantly. In the first quarter, they were down by 38 percent, to 1,028 from 1,658 a year earlier. Foreclosures decreased 23 percent from the year-end quarter, when they hit 1,336. One in every 586 Collier County houses was in foreclosure in the first quarter, compared 1 to 274 in Florida as a whole. In Lee, 1 in every 363 houses is in foreclosure. One in every 459 homes is in foreclosure nationally.

Research Group RealtyTrac states that “This is good news for sellers who won’t have to compete against as many foreclosures, but it may be somewhat bad news for buyers trying to find a bargain. This also doesn’t mean that Southwest Florida is inoculated against another foreclosure epidemic hitting sometime in the future, but for now the market is enjoying a period of good health.”

Next post - »

Levitan Realty

5628 Strand Blvd, Ste 2,
Naples, Florida 3411

Ph: (239) 290-5454

Quick Property Search

$
$

Blog/News Categories