Monday, August 1st, 2011 at 10:03pm. 58430 Views, 0 Comments.
Bank Owned sales continue to decline
All Sarasota County real estate sales increased by more than 11% in July 2011 compared to july 2010. The number of non-distressed sales, properties that are not in foreclosure or short sales, increased by 36% for July 2011 over July 2010 in Sarasota County. During this same time period the number of REO/bank owned sales in Sarasota County decreased by 35% as the number of short sales remained almost unchanged.
In Manatee and Charlotte Counties total sales were down 9.2% and 7.2% respectively, for July 2011 over July 2010. Year to date sales are still higher in Manatee County for 2011 than 2011. However, they are below 2010's ytd sales in Charlotte County.
In Manatee non-distressed sales were up 15%…
Monday, July 25th, 2011 at 5:45pm. 115226 Views, 0 Comments.
A commercial office building located at 130 N. Tamiami Tr. was the subject of a settled eviction suit in the Sarasota Herald Tribune last week. The article said that Congressman Buchanan was the general partner for the LLC that owned the building. This weekend while I was working on a new commercial foreclosure web page I noticed this property is listed as a "short sale". In fact the tax records show Congressman Buchanan's signature on the mortgage recorded Feb. 13, 2003.
This property was listed as a "short sale" with James Buchanan Realty for $2,290,000 on May 11, 2011. (MLS # A3943229) The public remarks of the listing in the MLS begin with "Short Sale" and the listing has standard "short sale" disclaimers stating "Listing price may not be…
Wednesday, July 6th, 2011 at 3:56pm. 39257 Views, 0 Comments.
Foreclosure declines largest
Sales results in Sarasota, Manatee, and Charlotte Counties for June 2011 have just been compiled. The total sales in each county decreased significantly for June 2011 compared to June 2010. For the month of June 2011 (compareed to June 2010) sales decreased 10.2% in Sarasota County, 13.6% in Manatee County and 3.9% in Charlotte County.
For the year to date, sales are still up 2.4% in Sarasota County, 9.3% in Manatee County, and 9.6% in Charlotte County. For the combined tri-county region, although sales were down 9.8% for June, sales are still up 6.2% in the first half of 2011 compared to the first hald of 2010.
Sales of all property types decreased except for non-distressed sales in Sarasota County and…
Monday, June 13th, 2011 at 3:35am. 26481 Views, 0 Comments.
Short Sales continue to decline
In May 2011 property sales in Sarasota, Manatee, and Charlotte Counties contiued to improve over 2010. However, the continued decline in short sales brought the tri-county year to date increase down to just 3% compared to 2010. REO/Bank owned sales while still up for the year where down significantly in May 2011 in both Sarasota and Manatee counties. Only Charlotte county showed an increase in bank owned sales comparing May 2010 to May 2011.
The chart below compares May 2010 to May 2011, and 2010 vs 2011 year to date (through May 31) closings. Total sales in the tri-county area up 3% over 2010. The good news in this report is that non-distressed sales were the only segment of the market that showed increases…
Wednesday, June 8th, 2011 at 8:34pm. 25432 Views, 0 Comments.
May 2010 VS. May 2011
Sarasota County Real Estate Sales increased for bank owned foreclosures and non-distressed sales, as short sales closings continued to decline in 2011. Pending Sales are down a total of 9.5% from the end of May 2010, while inventories are down 12.6%.
The biggest drop in inventories come from the decreased number of short sales and bank owned properties. The inventory of non-distressed properties is down only 4.1%, short sales and bank owned foreclosure inventories are down 23.8% each.
Pending sales in Sarasota County, a good indication of future, are down 9.5% from last year. On June 2, 2010 there were a total of 2,576 pending sales in Sarasota County, 897 were not distressed, 279 were bank owned and 1400 short…
Thursday, May 26th, 2011 at 4:52pm. 25637 Views, 0 Comments.
Bank Owned Sales Up Short Sales Down in First Quarter
Below is a chart comparing the number of sales, bank owned foreclosure sales, short sales, and non-disttressed sale in Sarasota, Manatee, and Charlotte counties. The time period for this data was the first quarter of 2010 to the first quarter of 2011, 1/1/10-3/31/10 compared to 1/1/11 - 3/31/11. The source of the data is the My Florida Regional Multiple Listing Service.
While sales were up as a whole in all three counties the from first quarter of 2010 to the first quarter of 2011, the majority of the increases came in bank owned properties. Saraosta County had an almsot identical percentage of distressed saled in the first quarter of 2010 and 2011. In 2010 40% of the first quarter sales…
Monday, March 21st, 2011 at 12:43am. 27758 Views, 0 Comments.
Charlotte County Sales Analysis
Sold Results for February 2011
From the chart below one can see that bank owned properties sold for an average of $49.06/sq.ft. compared to fair market or non-distressed sales which averaged $88.59/sq.ft in Charlotte County for February 2011. The average REO/bank owned home sold for $77,138 in 78 days and for 96.52% of listed price (LP). By contrast the average non distressed or fair market property sold for $147,133 in 160 days and for only 91.5% of it's lsited price.
Wednesday, March 16th, 2011 at 11:24pm. 26262 Views, 0 Comments.
Prices at or below 2001
There has been a little uproar in the Sarasota Herald's Inside Real Estate about an article they title, "North Port is dragging down Sarasota County prices". Some of the readers were bothered by the head line others by the content. First let me start out by commenting on the headline. I thought it was a little ridiculous myself. I know the person who writes the story doesn't is often not the same person that writes the headline. So lets get upset with the author for a headline that he may not have written. I thought that the headline, and much of the content just stated the obvious, prices are lower in North Port and the south end of Sarasota County in general.
I don't believe much of what I read anywhere with out…
Monday, February 21st, 2011 at 11:45pm. 27500 Views, 0 Comments.
Add Foreclosure data to your web site
We have just developed a new widget (tool) that allows webmasters to add foreclosure data for over 100 cities to their web site. This tool is ideal allows web site owners or developers. It enables them to display the number of bank owned proeprties for sale. Many agents, attorneys, lenders, Chambers, Home Owners associations, etc. have requested this and we are pleased to provide the service.
The widget allows the site owner to choose if they want to require registration ( and generate "leads") or just provide the data with out requesting any user information. Also, the site owner can choose a default city, showing the bank owned properties in that city. In fact, a larger site could place the tool set…
Sunday, February 13th, 2011 at 12:34am. 26772 Views, 0 Comments.
Foreclosures dominate lower price ranges
Short Sales more likely on high end
I just ran some statisitics on what price ranges had the most distressed sales in 2010. The lower the price range the higher the percentage of distressed sales. There were some peaks such as the $700,000 - $799,999 price range, which had 20% of the sales as short or bank owned. For the year 42% of all residential sales were distressed, short sales or bank owned REO's. As the price ranges increased there was a greater percentage of short sales than bank owned REO's.
These Stats are for residential property in Sarasota County Sold from 1/1/2010 - 12/31/2010.