For the first time in at least seven years, the foreclosure rate has dipped below 2 percent in the Sarasota-Manatee region.
The rate of foreclosures among outstanding mortgages in the two counties fell to 1.91 percent in October, down sharply from its peak of 12.23 percent in June 2011, according to data provider CoreLogic.
While that means fewer homeowners are losing their properties, it also marks a turning point for Realtors and attorneys who have specialized in distressed properties during the downturn and prolonged recovery of the Southwest Florida real estate market.