Robo-signers don't alter trend

Lee County has been one of the hardest-hit areas of the country for foreclosures, but the declining trend is clear despite problems with proper documentation.

Jeff Tumbarello, who runs the Southwest Florida Real Estate Investment Association, says foreclosure filings fell to 656 in October in Lee County, down 60% from the same month a year ago.

The moratorium by large banks reacting to questions about whether documents have been properly reviewed likely slowed things down in the month of October, but Tumbarello says the decline in the number of filings has been an obvious trend in the last two years.

Sales in October were twice the number of foreclosure filings, eating into the backlog that now stands at about 15,000 properties. About 30% of the backlog is lots, 65% single-family homes and 5% multi-family or commercial.