Foreclosure filings are clearly a regional phenomenon. All of the "real estate experts' and articles of 2009 and 2010 focused on the continuing increase in filings. However, it would appear to be where you are looking.
The general indicators so far in look promising. Today's local Florida paper cites statistics for 2010 and reports a 7.5% drop in foreclosure filings. That seems to validate my recent Blog showing a 38% increase in December sales over the November 2010. Supply and demand also pushed selling prices up for the same period. This one "snap shot" of the market doesn't mean the immediate future is going to be all Rosy. All it means is, it's the right signal at the right time.
The Silver lining in all of this is just maybe the trend will be sustained and decrease the existing inventory, resulting in an increase in values for homeowners.