Whats happening in the RE market

2010-07-20T13:21:00.000-07:00

With nearly half of ALL the home sales in Florida comprised of foreclosures, (up from 9% a year ago) we are in the midst of the biggest correction in the history of Florida Real Estate. In May 2010 10,491 homes were taken back by the banks in Florida. That is a 81% increase from a year ago. Banks have been in a “delay and pray” or “extend and pretend” mode for 2-3 years and now we are starting to see more inventory released through the avenues that liquidate the asset for the bank. The Bank owned (REO) property and the short sale property IS the market in our opinion. If you want to own property here in Florida and you want to buy it at these discounted prices, you must navigate the new procedures and rules for buying distressed property. That is where we can provide invaluable information.

Not all short sales are time wasters and not all foreclosures are dilapitated. (see the photo above, which we sold 2 months ago).

If you go to wwwforeclosurenaples.com you can search specifically for APPROVED short sales and foreclosure property. When your ready to visit the property we can help and also answer all your questions along the way. That's all for now, but stay tuned for more market updates and insights.

Naples for Real

Whats happening in the RE market