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FORECLOSED PROPERTIES DOWN IN SOUTHWEST FLORIDA
Posted by V.K. [Mel] Melhado P.A. on Thursday, October 15th, 2009 at 7:56pm.
An article in the Naples Daily News Thursday reported that foreclosures had slowed down in Southwest Florida.
In September, there were 1,068 filings in Naples/Marco Island which translated to one in every 180 households. The figure was down 6.07% from the month prior and 18.47% from one year ago. Collier County was sixth nationally for the forclosure rate, with Lee County ranking 2nd.
Florida along with California, Nevada, Illinois and Michigan made up more than 60% of the total activity in the third quarter. Those five states accounted for 579,541 filings in the quarter. Nevada continues to reman atop the nation in filings with one in every 23 households.
The continued decline in filings is bound to help further stabilize prices in Southwest Florida and will also strengthen consumer confidence.
V.K. [Mel] Melhado PA
Downing-Frye Realty, Inc.
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