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Bank and Tax Foreclosure Homes Remain High in Cape Coral

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By : John Cutts    99 or more times read
Although foreclosure activity slowed down somewhat in Fort Myers-Cape Coral in Florida from January to June 2010, the area still made it as the second U.S. city/region with the largest number of foreclosures for the said period. Government, bank and tax foreclosure homes maintain their high numbers, according to latest nationwide housing market reports.

Foreclosed homes for sale in Cape Coral, FL continue to post significant numbers, with almost five percent of properties in the city receiving a foreclosure filing during the January-June 2010 period. This translates to one household for every 20 being in some stage of foreclosure. The six-month period also saw the area receiving over 18,000 foreclosure filings in total.

Despite the fact that foreclosure activities recorded a 30% decline when compared with 2009, the thousands of foreclosed homes in Florida still took its toll on the metro area. Fort Myers-Cape Coral was ranked among all US metropolis cities based on the number of scheduled property auctions, bank repossessed properties and notices of loan defaults.

Bank and tax foreclosure homes accounted for a big percentage of foreclosed dwellings in the city, contributing to its high ranking for the same period of the current year. Other Florida metro regions that made it to the top 10 include eighth ranked Orlando-Kissimmee and 10th ranked Miami-Pompano Beach- Fort Lauderdale.

Foreclosure houses lists in Naples-Marco Island also posted high numbers, with the region getting the 13th rank nationwide. This region totaled more than 6,000 filings, which represent a ratio of one household for 31 receiving foreclosure-related notices. However, some good news have been received by Naples-Marco Island as these numbers represent a 10.5% decline when compared with 2009.

Cape Coral-Fort Myers also has good news of its own, with its June 2010 filings totaling more than 3,000, which means that June recorded an 8.72% decline compared with May 2010. The number also means that filings related to government, bank and tax foreclosure homes for June 2010 declined by 32% when compared to last year.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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