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April foreclosures lowest in 3 years

Real Estate Agent with Century 21 Sunbelt Realty

Foreclosures filed in Lee County in April fell to the lowest number in almost three years as home prices started to stabilize and sales caught fire.

There were 1,008 foreclosure lawsuits filed in Lee circuit court, the lowest since June 2007 when there were 968, according to statistics released Monday by the Southwest Florida Real Estate Investment Association.

April's number was down from 1,198 in March and 1,931 in April 2009.

Meanwhile, the number of foreclosed properties sold on the courthouse steps was larger than the number of new foreclosures for the second month in a row. There were 1,190 courthouse sales in April, down from 1,412 in March and 1,221 in April 2009.

The number of foreclosures in the county started to increase at the beginning of 2007 as prices for homes continued to plunge following the collapse of the residential real estate market in early 2006.

Philip H. Busse PA

Coldwell Banker

Paradise Partners