40% of Sarasota County 4th Quarter of 2008 Residential Sales were Foreclosures
Posted by Key Realty on Saturday, January 3rd, 2009 at 4:28pm.  |
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Welcome, to Sarasota-Foreclosures.com
This is my first blog since going "live" on New Years Eve. Like Mark Cuban my goal is to write a little blog every day. I hope everyone enjoys and uses all the cool features our new site has. Try out the map search with Google Street view and Microsoft Birdseye View (for 3-D you will probaly need to download some software, but trust me here, it's worth the effort.) I am still writing pages and adding content, so please be patient. Webmaster is just my night job ;)
I just pulled the sold reports from the Multiple Listing Service of Sold Properties in Sarasota County for the fourth quarter of 2008 (9/1/08 - 12/31/08). The MLS shows that 2,033 residential properties closed during this time period, 603 of these were bank owned and 228 were in foreclousre (short sales). That is a total of 40.87% of all residential sales in the Sarasota MLS were either bank owned or facing foreclosure.
Analysing the "pending sales" the foreclosure percentage is even higher. As of today, January 3rd, 2009, the MLS shows there are 1,130 total sales pending, 578 of these are bank owned or in foreclosure, and 275 are actually bank owned. So 51.15% of all pending sales are in foreclosure or bank owned.
Finally I looked at the active listings. The MLS shows that in Sarasota County there are 9,166 active residential listings; 552 are bank owned properties and 1,812 properties on the market in Sarasota county are in foreclosure or bank owned. That is only 19.76% of the active listings are in foreclosure or bank owned, yet 50% of all pending sales are bank owned or in foreclosure.
The market is telling me something. I will provide more info the average cost per sq. ft., list price to sale price ratio, and Days on market (DOM), comparing foreclosure to non-foreclosure proeprties in the coming days.
I would like to find some software to create pie charts and graphs, any suggestions?
Thanks to all of our present and future clients for using the site. I look forward to your comments.
All the best to everyone for 2009.
Adam Robinson, Owner
Adam Robinson, Broker
SarasotaForeclosures.com Inc.
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