Foreclosures Plummet in SWFL

Foreclosures Plummet in Lee and Collier Counties

Foreclosures PlummetForeclosures fell by double digits in both counties during the third quarter of 2016.  In Collier County foreclosures dropped from 497 properties to 329 or 33.8 percent when compared to the same quarter last year.  At this point, only 1 in 607 housing units in Collier is in some stage of the foreclosure process.

Also, in Lee County foreclosures fell from 1,407 homes to 1,102 which was a 21.7 decrease. And only 1 in 338 properties in Lee are in the foreclosure process.

Nationally, foreclosures dropped 18 percent from 327,258 to 293,190 versus a year ago.

When comparing SWFL with the rest of the state of Florida, 1 in 289 properties are in the process of foreclosure.

According to Daren Blomquist, Vice President of ATTOM Data Soulutions, “Southwest Florida is no longer the epicenter of foreclosure activity nationwide”

Although the foreclosure plummet in SWFL indicates the market continues to stabilize, for the properties in the foreclosure process, it takes 1,038 days to process them from beginning to end.

So even though foreclosures are few and far between in our area, there are still great properties to be had. When you are ready to purchase a property in Naples, Bonita Springs or Estero, let me be your guide!  Contact me and I can help you find the home that will match your lifestyle.

About Matt Klinowski

October 13, 2016 Posted by Matt