While Lee and Collier both saw a rise in new foreclosure filings in 2012, it looks like 2013 could reverse that trend. In 2012, Collier saw 2892 new foreclosure filings. This was up more than 27% from 2011, but down more than 48% from 2010. Lee County had 7606 new foreclosure filings in 2012, up more than 40% from 2011, but down from over 10,000 filings in 2010. We point our readers to these statistics, because Florida is a “judicial foreclosure” state and therefore, the foreclosure process in Florida takes longer. Although the foreclosure situation is dramatically better than 2009 or 2010, the continued foreclosure process still negatively impacts non-distressed sales prices.
A good way to characterize 2012 is as a year in recovery, but not one in which the country has actually recovered. 2012 was a pleasant surprise, particularly in the housing market and the future is more hopeful than in years past.