Notes from Charlotte County, Florida

Charlotteforeclosures in January were lowest since September 2007

Foreclosures in Charlotte County started the decade on a high note, with monthly filings reaching their lowest mark in more than two years.

Charlotte reported 267 initial foreclosure filings in January, a 25 percent slide from December and 27 percent drop from the same time last year, according to figures released Monday by the Charlotte County Clerk of Courts.

The number of properties entering delinquency in January was the lowest monthly total since September 2007, when the county reported 208 initial filings.

January marks the third consecutive month foreclosures have fallen from the previous month's totals. Foreclosures are now down in the year-over-year comparison for 10 straight months.

Foreclosures in Sarasota County told a similar story.

Sarasota saw initial foreclosures filings fall 20 percent from December, with 595 delinquencies recorded last month. January's post was also a 23 percent decrease from the same time a year ago, according to the Sarasota clerk's office.

RealtyTrac, an independent online database that tracks foreclosures, is expected to release its findings Thursday.

In late January, RealtyTrac listed the Sarasota-Bradenton-Venice area No. 17 on its list of the top 20 national foreclosure rates of 2009, with 5.26 percent of all area homes in delinquency.

Still, area officials believe the worst has passed.

Local real estate agents said declining foreclosures are essential for the area's housing market to fully recover.

Currently, short sales and delinquent listings are pulling down prices of traditional sales, and reduced foreclosures will fuel stabilization, said Jake Miller, real estate agent and broker with Gulf Realty & Associates Inc. on Manasota Key.

The good news is first-time buyers continue to purchase these foreclosures, helping reduce inventories, he said.

"It could be worse, but it could also be a lot better," Miller said. "I think we're starting to stabilize some."

Foreclosure filings

Charlotte County

January 2010: 267

December 2009: 355

January 2009: 364

Sarasota County

January 2010: 595

December 2009: 742

January 2009: 772

Sources: The Charlotte County and Sarasota County Clerks of Court