For the first time in years distressed sales were less than normal or traditional sales, down to 45.26% of all sales in April 2011. March 2011 saw 901 distressed sales while April produced 683 distressed sales resulting in a decline of 24.2% We had 51 fewer short sales and 167 fewer foreclosure sales in April… Continue reading
The Florida Association of Realtors released official numbers, and as expected the number of sales were down, but fairly steady with last year. We predicted in last week’s article they’d be right where they are. We also said last week that we didn’t study the sales prices, but that we wouldn’t be surprised if we… Continue reading
Take a good look at the graph. Headlines next week when official numbers are released may report that sales were down versus December numbers, and this would be true. However, preliminary sales numbers we track indicate January 2011 sales mirror very closely January 2010 sales, and pending sales are on the rise again. Last year’s… Continue reading
Official sales numbers haven’t been released yet, so we study inside the numbers to see what the market is doing. Our analysis shows single family home sales in December shot up 32% over November, and condo sales shot up over 54%. We’ve been reporting the past few months pending sales have been building which could… Continue reading
We just pulled up sales numbers for Lee County for July 2010 and we see a trend continuing that began about 4 months ago in many areas. Except for Cape Coral, the percentage of sales that are distressed is rising throughout the county. Cape Coral has remained relatively steady at about 62% of all single… Continue reading
It’s been 8 weeks since we last reported on short sales, and we’re happy to report short sale activity is up as we’d hoped it would be. Short sales make much more sense to all involved over a foreclosure as it helps preserve the sellers credit better, minimizes losses to the lender, and keeps the… Continue reading
Last week we reported showings and phone calls were down for a few weeks after Easter according to several agents we spoke with, but that all changed about a day after writing the story. Phone calls and offers picked up significantly last weekend, so it’s very hard to judge the market on a daily basis. … Continue reading
We’ve been talking quite a bit the past several weeks about HAFA (Home Affordable Foreclosure Alternatives) program and other programs designed to make selling a short sale easier. Going forward, these programs should provide some much needed relief for many sellers, and open up the market for more buyers. We’ve noticed a trend this past… Continue reading
It’s a fact that 7 out of 10 distressed home sellers go into foreclosure without visible intervention to improve their situation. We speculate that sellers do not realize there is help available, and that doing something about their situation is better than just walking away. Many sellers we talk to are embarrassed about their situation,… Continue reading
A few weeks ago we wrote about attending a recent bank foreclosure and short sale conference. We told you that banks and the US Treasury department have learned that home retention and loan modifications are not working, and that 2010 will be a year of “The Transaction” either by short sale or foreclosure. More banks… Continue reading