Naples-Marco foreclosure filings decrease in last quarter of 2011

Foreclosure related filings in the Naples-Marco Island market slowed in the fourth quarter of last year.

There were 1,344 filings, or one for every 145 households. In the quarter, the area ranked 42nd in the nation for its foreclosure activity, according to RealtyTrac based in Irvine, Calif.

Last quarter, filings were down nearly 11 percent from the third quarter and down nearly 39 percent from a year ago.

In 2011, there were a total of 2,842 foreclosure-related filings in Naples-Marco Island area. For the year, the area ranked 76th in the nation for its foreclosure activity. Filings dropped more than 73 percent from 2010.

Meanwhile, in Cape Coral-Fort Myers there were 3,852 foreclosure-related filings in the fourth quarter of last year, or one for every 95 households. In the quarter, the area ranked 16th in the nation for its foreclosure activity. Filings dropped more than 3 percent from the third quarter and were down more than 40 percent from a year ago.

In 2011, Cape Coral-Fort Myers had a total 12,014 filings, ranking it 15th in the nation for its foreclosure activity. Filings were down more than 60 percent from 2010.

The report is based on default filings, auction sale notices and bank repossessions. More information can be found at www.realtytrac.com/content/foreclosure-market-report/2011-year-end-foreclosure-market-report-6984.

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