Foreclosure activity slowed in Cape Coral-Fort Myers and Naples-Marco Island in the third quarter.
A report by RealtyTrac in Irvine, Calif., shows 13,206 foreclosure-related filings in Cape Coral-Fort Myers from July to September — or one for every 27 households. That was down 5.19 percent from the second quarter and down 2.19 percent from the third quarter in 2008.
In Naples-Marco Island, there were 2,997 filings last quarter, down 15.65 percent from the second quarter and down 4.49 percent from a year ago.
The report tracks notices of default, scheduled auctions and bank repossessions. New foreclosure cases are only part of the total.
In September, there were 4,888 total foreclosure-related notices filed — or one for every 74 households — in Cape Coral-Fort Myers. That was up nearly 19 percent from August and up 2.6 percent from September 2008. Of that total, 1,920 are shown as a lis pendens — a notice that marks the first stage of foreclosure.
Naples-Marco Island had a total of 1,068 foreclosure filings last month — or one for every 180 households. That was down 6.07 percent from last month and down 18.47 percent from a year ago. Of that total, 661 were counted as a lis pendens.
Collier County ranked sixth in the nation for its foreclosure rate in September. Lee County came in at No. 2.
Nevada continued to have the nation’s highest state foreclosure rate, with one in every 23 households receiving a filing — nearly six times the national average. Arizona came in second, with one in every 53 households getting a filing.
California, Florida, Arizona, Nevada, Illinois and Michigan accounted for more than 60 percent of the nation’s total foreclosure activity in the third quarter, with 579,541 properties receiving foreclosure filings in the six states combined, according to RealtyTrac.
Foreclosure activity in Florida was down slightly in the third quarter, but the state still ranked second for the total number of properties receiving a notice — 156,924. That was up 23 percent from the same quarter a year ago.
Default notices in Florida declined 6 percent in the third quarter, compared to the second quarter. Meanwhile, scheduled auctions rose by 5 percent and bank repossessions increased by 16 percent.
Nationally, foreclosure filings hit a new quarterly record. They were up nearly 23 percent in the third quarter, compared to a year ago.
In the U.S., one in every 136 housing units received a foreclosure-related filing in the third quarter.
Filings were reported on 343,638 U.S. properties in September. That was down 4 percent from August, but up 29 percent from September 2008.
September’s total filings were the third highest on record since RealtyTrac began publishing its reports in January 2005.
“Bank repossessions, or REOs, jumped 21 percent from the second quarter to the third quarter, corresponding to jumps in defaults and scheduled auctions in the previous two quarters,” said James J. Saccacio, RealtyTrac’s CEO, in a statement.
“REO activity increased from the previous quarter in all but two states and the District of Columbia, indicating that lenders may be starting to work through some of the pent-up foreclosure inventory caused by legislative delays, loan modification efforts and high volumes of distressed properties.”
Connect with Laura Layden at www.naplesnews.com/staff/laura_layden.