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Foreclosures lessening, building permits rising in Southwest Florida

Foreclosures are diminishing in Southwest Florida, giving many in the area hope for the continuing housing crisis.

Foreclosures are diminishing in Southwest Florida, giving many in the area hope for the continuing housing crisis.

The News-Press in Fort Myers reports foreclosures in 2010 were substantially down and building permits were up from 2009, leading many in the region to believe the housing crisis is getting better in Florida.

According to the paper, statistics from the Southwest Florida Real Estate Investors Association show there were 10,669 foreclosures in Lee County in 2010, a decrease from 2009's 21,678 foreclosures filed in 2009 and 26,125 filed in 2008.

The newspaper states Lee County has consistently been one of the top 10 metro areas in the U.S. in regard to foreclosures.

Despite the steep decline in the amount of foreclosures, more are reportedly on the way in 2011, as lenders such as Bank of America and JPMorgan Chase have yet to officially file all foreclosures in recent months.

According to RealtyTrac, there were 32,938 foreclosures in Florida last year, second only to California in the entire nation, which had 57,378 foreclosures in 2010. In November, the website states one in every 492 U.S. homes received a foreclosure filing.