Foreclosure notices on 30,660 homes in Cape Coral-Fort Myers in 2010, balderdash sayeth I!

[Jeff Tumbarello]

thought you guys might find this interesting. AS some people tru and use this data

Today we were greeted with the following "information" in the news cycle.
"According to RealtyTrac, foreclosure notices were filed in the Cape Coral-Fort Myers area in 2010 on 30,660 homes — 8.4 percent of the total housing units."

http://www.news-press.com/article/20110114/RE/110113054/1076/Foreclosures-poised-for-big-year

30,660 homes is a 300 percent misrepresentation of what really happened per public records.

check out the video we made on this http://www.youtube.com/watch?v=zM1MmnnzJQc

The interesting part is that bankers and the goverment types all use this data. They are extrapolating futures using flawed data. By golly that has never happened before. Does anyone have the ablity to check the data released in their markets? :idea: