Foreclosure filings in March of this year are staying relatively low in Lee County. However, experts are warning: the housing crisis is far from over. Some worry about a possible second wave of mass filings, later this year.
"First off, I am thrilled that fewer people are being foreclosed," said Clerk of Courts Charlie Green. "I would like to see zero filings, but that is not going to happen anytime soon. But it is better."
The clerk reported 347 foreclosures in March, roughly the same as January and February. The numbers are way down from late 2008, when as many as 2600 foreclosures were filed each month.
Realtor Marc Joseph warns, there still are many owners who are behind on their housing payments and who could foreclose later on. "The question is: will they come as a trickle of filings? Or a flood? We don't know," said Joseph. "The banks could decide later to just flood the market with foreclosures. And we still have thousands of cases in the court system. We need to clear those and create a lot of jobs here, to stabilize the economy and housing market. We are not there yet."