Cape Coral Florida Bank Owned, built in 2006 this 3 bed 2 bath home with 1,500 sq. ft. Sold for $82,000
Joe Kendall, Broker associate with Sandals realty writes: the Cape Coral housing market and Fort Myers housing markets saw foreclosure actions fall 26% and 25% respectively and the Naples real estate market saw filings decrease by 11%. You have to understand the Cape Coral-Fort Myers (a rate of one foreclosure for every 35 housing units) as an average in 2009 Naples areas have been in the top ten in the state of Florida the drop in filings are seen as a welcome respite. I have been talking about the insuragemnt of the short sale onto the real estate market as the governments push to force banks to work with people on refi's and the short sale then a foreclosure and are giving home owners and banks incentives to do so.
Unfortunately, there were 544,000 foreclosure filings in Florida last year and it is estimated that 25% of Floridians with a mortgage are either in foreclosure or late (60 days) on their payments. So, the question remains. Is the decrease and a shift from banks foreclosing on home owners and working toward the short sale process? or just an aberration or the start of a turn around? As with everything in this market in southwest Florida, only time will tell.
The people that are setting on the fence and there are many waiting for the perfect house may find themselves outside looking in but again time will only tell.
I look forward to talking to you about the southwest Florida real estate market.
Joe Kendall, Broker Associate Sandals Realty
Waterfront, and Bank Short Sale Specialist
Phone 239-560-0726 Fax 239-236-0422
Search Homes in Southwest Florida www.JoeKendall.listingbook.com
Read Joe's Real Estate Blog www.SwFloridaRealtorsBlog.com
Joe Kendall, Broker Associate
Right Choice Realty
Phone 239-560-0726
Email joek4realestate@aol.com
Search all the homes for sale right here
