Whew, another week has blown by. By now I had intended on posting the Ellis Team’s latest Current Market Index numbers, information about the new lockbox system, and much more. We’ve just been swamped with offers on properties and BPO"s (Broker Price Opinions) on foreclosure property, as well as contracts and inspections that we haven’t had the time to post to the Blog in awhile.
Last Monday I had offers on 4 different properties on my desk, so it pretty much took all of Monday to negotiate those deals. 2 of the 4 went pending on Monday, and a 3rd went pending just yesterday from those initial offers on Monday. Throw in a few closings this past week, and you can see why we’ve been hopping. Sande has been working lots of offers too. I’m not sure how many she put together.
OK, here’s a teaser until we get the latest CMI numbers posted. Cape Coral is hot right now. Lee County’s inventory levels fell once again, and pending sales have remained stable. We think April and May’s closing numbers will be good. Prices are off significantly from last year, but transactions should be up as the pendings have gone up.
That’s all for now. Just wanted to give everyone a quick update on what’s happening in the market.