Foreclosure Activity in Sarasota County strongest in North

Thursday, March 11th, 2010 at 9:22am. 5 Views, 0 Comments.

Sarasota County Foreclosure Activity

North Port no longer the highest area of Sarasota County Foreclosures

A common mis-perception is that the majority of foreclosure activity in Sarasota County is in the south end of the county in the North Port Area.  The graph below (generated from Realty Trac) shows that the majority of Sarasota Clounty foreclosure activity is in Sarasota.  

This graph shows all new foreclosure activity in Sarasota County  for Feb. 2010., including new lis pendis filings, foreclosure auction notices, and actual bank repossesions. 

The highest activity was with residences with a Sarasota mailing address.

Currently in all of Sarasota County there are about 250 bank owned proeprties for sale, these include properties located in Sarasota,…

Foreclosures & Short Sales 44% of all Sarasota closings in Feb 2010

Monday, March 8th, 2010 at 4:43pm. 11 Views, 0 Comments.

Foreclosures Increase in February 2010

Foreclosure activity remained strong for the second month of 2010 in Sarasota County.  As I predicted last month bank owned closings surpassed short sale cloings for the first time in seven months. 

• In February 2010 there were 669 properties closed in Sarasota County(reported ion the MLS)
• 150 closings were bank owned (REO) properties in Sarasota County(reported ion the MLS)
• 142 closings were short sales in Sarasota County(reported ion the MLS)           

The number of new listings in February increased by 13% from 9,606 properties in January 2010 to 10,858 in February 2010. 

 Sarasota County Foreclosure Statistics

Manatee Foreclosure Statistics

Friday, February 12th, 2010 at 4:20pm. 67 Views, 0 Comments.

Manatee Foreclosure Statistics

Below are the foreclosure and sales statistics for Manatee County for 2009 and January 2010.   The number of Lis Pendis and Certificates of Title are taken from the Manatee County Clerk office (Http://ManateeClerk.com).   The sales statistics are from MFR MLS for all property types in Manatee County.

Obviously, there are many more foreclosures pending and owned by lenders than are being listed and/or sold.  There is a long delay in the court systems.  Also, lenders are not agressively persuing the foreclosure process and prefer to let the properties sit in legal limbo.

Sarasota County Bank Foreclosures Increase in Jan 2010

Wednesday, February 10th, 2010 at 11:53am. 121 Views, 0 Comments.

Bank Foreclosures Increase in Jan 2010

Foreclosure activity remained strong for the first month of 2010 in Sarasota County.  Several noteable trends continued, and some new ones emerged.
For the 7th consecutive month the number of homes closed as short sales exceeded the number of bank owned properties that closed. 
In January 2010 there were 121 short sale closings and 110 bank owned closings.
The number of bank owned pending sales increased dramatically. 

I predict in February the number of bank owned closings will surpass short sale closings.   This is due to the difference in the time frame to close a short sale compared to a bank owned property.  A large number properties that bANKS TOOK title to in Dec. 2009 have been listed and contracted, with an…

December Bank Foreclosures Soar in Sarasota County

Monday, January 4th, 2010 at 12:03pm. 173 Views, 0 Comments.

Bank Foreclosures Peak in December 2009

     December 2009 saw the largest number of bank repos for Sarasota County for all of 2009.  While the number of new foreclosures filed remained relatively consistent, with 725 new "Lis Pendis" filings in December 2009.  The number of certificates of Title issued by Sarasota County judges nearly quadrupled to 535 units.    In all of 2009 there were 2087 Certificates of Title were issued in Sarasota County, more than 25% of them were issued in December.  With 535 COT issued in December, the number of bank owned REO units being listed in January 2010 is expected to increase dramatically.

Short Sale closings again out numbered "REO" or bank owned properties for the sixth consecutive month.

What percentage of Sarasota sales are foreclosures? Short Sales? Bank Owned?

Tuesday, November 10th, 2009 at 4:16pm. 299 Views, 1 Comments.

 Sarasota County Short Sales "closed" exceed bank owned sales for Fourth Month

Basically there are two kinds of foreclosures.  The first type are properties that hat been through the judicial process, are now owned by the lender, the previous owner is gone and the property is listed for sale as bank owned or REO.

The second type of foreclosure is called a short sale.  In this scenario the owner owes the lender more than the value of the property and is no longer capable (or willing) to make payments.  The owner lists the home for sale during the lengthy court process and the lender excepts less than the amount owed to the lender.

Without going into the positive and negatives about each type of foreclosure, the statistics below are painting an interesting…

How to buy a bank owned home

Sunday, October 11th, 2009 at 9:09pm. 378 Views, 0 Comments.

I just watched this video on you tube.

The humor is from the truth.

This is very funny.  However, if you are serious about taking advantage of todays market, then you need an agent who will not be doing this for the first time.   At Sarasota-Foreclousres.c om and Key Realty, all of our foreclosure experts have had extensive training and negotiating experience with Banks, HUD, FH, VA and asset managers.

Enjoy the video, then call us when you are serious about getting your offfer accepted.

NBC's Today Show: Sarasota FL #1 city in US

Tuesday, October 6th, 2009 at 11:59pm. 387 Views, 0 Comments.

This morning on the Today Show,  real  estate guru Barbara Corcoran named the Top Ten cities in the US to buy real estate.  Sarasota Florida was named the number one city in the US. 

Ms. Corcoran stated, "Sarasota FL is probably what is a symbol of the worst real estate market in the country.  The Florida markets were hit early.  Last year alone prices went down by a full third in Sarasota FL, but prices are already up 13%"

Al Roker replied "So that’s good there is a rebound."   Barbara was qick to add "Its moving fast, they're snapping up bargains."

All ten cities listed in order are as follows:

7133 Foreclosures Pending in Sarasota County Courts

Friday, August 14th, 2009 at 4:33pm. 482 Views, 0 Comments.

7133 Foreclosures Pending in Sarasota County Courts

At the end of July there were a total of 7,133 foreclosure filings pending in Sarasota County according to county records.*   Since Jan. 1, 2009 there have been 4,840 new foreclosure cases filed in Sarasota.  This is in addition to 2,293 active foreclosure cases that were filed in Sarasota county prior to Jan. 1, 2009.

Breaking down the foreclosure cases by address, the most are in Sarasota with 3400 properties in foreclosure, followed by North Port with 2055 foreclosure filings, and Venice with 1028 foreclosure filings.  The remainder of the filings are in the areas of Longboat Key (39*), Englewood (204**), N. Venice (121), Nokomis (174), Osprey (87).

174 of the foreclosure filings in Sarasota County are…

Sarasota County Preliminary Tax Values Decrease $6.6 Billion (-14.82%)

Monday, July 20th, 2009 at 3:31pm. 353 Views, 0 Comments.

2009 Preliminary Sarasota Tax Values Released

Values drop 12.44% from 2008

The new 2009 Sarasota county Preliminary Tax values for Sarasota and the municipalities of Sarasota, Venice, North Port and Longboat Key have been released.  The total tax value of all properties in the county has decreased by $6,611,202,799 or 12.44%.  The City of North Port had the largest percebntaqge decrease of 22.34 and the town of Longboat Key had the smallest decrease at 10.03%  The full summary can be read at  the link below.   To search for the proposed 2009 values of any property in Sarasota county visit click on the second link below