What areas are selling foreclosures?

Sarasota Foreclosures.com

Tuesday, July 20th, 2010 at 1:16pm. 656 Views, 0 Comments.

The chart below shows the number of closed sales for each area, this data is for the first six of 2010.

The data is from the Mid Florida Multiple Listing Service. If a property was listed with a city as an address it is included below.  This is regardlss if the proeprty is actually with in the city limits.  For instance all properties with a "Sarasota" address are included in "Sarasota".  This is whether or not the property is within the city limits.  (Siesta Key data is all properties in the zip code "34242")

Sales by City from Jan. 1, 2010 - June 30, 2010

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SAR announces 27% increase in Sales - Is it accurate?

Sarasota Foreclosures.com

Thursday, July 15th, 2010 at 3:29pm. 436 Views, 1 Comments.

Non-foreclosure sales stagnant while foreclosures soar

Today the Sarasota Association of Realtors (SAR) released statistics for June 2010 sales.  As I expected the headline was sales are up (27.2 %) compared to June 2009.  Understandably, SAR always tries to put a positive spin on monthly statistics.

SAR reported; "Property sales in June 2010 in the Sarasota market once again topped the 700 mark, with 776 total sales - once again the highest of the year and the highest total since December 2005 when 784 properties were sold. The figure of 776 sales topped the May 2010 total of 766, the previous high, and was 27.2 percent higher than June 2009, when only 610 homes and condos sold." 

I checked MLS for all of Sarasota county, all sales, and came up…

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55% of Sarasota Sales Contracts in June Foreclosures

Sarasota Foreclosures.com

Wednesday, July 7th, 2010 at 11:12am. 503 Views, 0 Comments.

This month I decided to pull a new statistic.   Since many short sales take several months to close I have decided to start tracking the number of properties that go pending each month.   This is in addition to tracking the number of total pendings and closings each month.  

In  Sarasota County from June 1 to June 30th there were a 894 properties that went under contract (pending), 493 or 55% of these were short sales or bank owned.   Of the properties that actually closed (sold) in June 2010, 392 or 40.4% of the total 970 closings were foreclosures of some type.

At first glance the increase in the number of total closings for Sarasota County in June 2010 (970) from June 2009 (816) is impressive.  However, a little scrutiny shows this increase to…

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