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Old 03-10-2011, 06:16 AM
 
Location: Palm Island and North Port
7,511 posts, read 22,920,068 times
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Sarasota county sold foreclosures for the last year:
March, 2010: 172
April, 2010: 167
May, 2010: 187
June, 2010: 209
July, 2010: 149
Aug, 2010: 176
Sept, 2010: 185
Oct, 2010: 162
Nov, 2010: 136
Dec, 2010: 191
Jan, 2011: 185
Feb, 2011: 195
March, 2011 (Mar 1-10th): 36

Total foreclosures sold in Sarasota county in the last 12 months: 2114
Average sold each month: 176
Average sold each day: 6

Per day average so far in March: 4

The average list price in the last year for a foreclosure home in Sarasota county is: $118,003 and the average sales price is $113,435. The list price to selling price ratio is 98%. The average days to contract is 49. The average size Sarasota county foreclosed home that sold in the last year is 1542 sq ft under air and 3 bedroom/2 baths.

Least expensive bank owned home that sold in Sarasota county in the last year: 6259 Freemont St, North Port. Listed for $19,500 and sold for $8,000 on June 24, 2010. The home is a 2/1 block home with 1184 sq ft under air and was built in 1966.

The most expensive bank owned home to sell in Sarasota county in the last year was 3860 Casey Key Rd, Nokomis. Listed for $4,900,000 and sold for $3,500,000 on May 12, 2010. The home has 6 bedrooms, 6 baths and 3 half baths. It has 8,230 sq ft under air and was built in 2006. The home was sold using all cash. They did not get a mortgage. It was formerly owned by Regions Bank.
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Old 03-10-2011, 07:36 AM
 
Location: New England
8,155 posts, read 21,005,097 times
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Very interesting.

So if I understand the stats correctly, even though there are say 170 average foreclosures per month, they are selling roughly 170 forclosures per month?

If so, that's a good sign that there are not piles of empty houses stacking up.
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Old 03-10-2011, 08:22 AM
 
Location: Palm Island and North Port
7,511 posts, read 22,920,068 times
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On average for the last year 176 foreclosures are selling per month. The figures next to each month are the amount of foreclosures selling for that month. I can pull the amount coming on so you can compare. Keep in mind this is all of Sarasota county (Sarasota, Osprey, Nokomis, Venice, North Port and the northern half of Englewood).

Here are some other stats that I posted on another thread. The below stats are all sales, not just foreclosures.

Actual statics for Sarasota county:
Mar 10, 2010-Apr 10, 2010: Number of listings sold: 961, Average list price $289k, Average sales price, $262

April 10, 2010-May 10,2010: Number of listings sold: 957, Average list price $283k, Average sale price $258k

May 10, 2010-June 10,2010: Number of listings sold: 952, Average list price $269k, Average sale price $243k

June 10, 2010-July 10,2010: Number of listings sold: 854, Average list price $255k, Average sale price $234k

July 10, 2010-Aug 10,2010: Number of listings sold: 616, Average list price $232k, Average sale price $212k

Aug 10, 2010-Sept 10,2010: Number of listings sold: 648, Average list price $217k, Average sale price $197k

Sept 10, 2010-Oct 10,2010: Number of listings sold: 655, Average list price $217k, Average sale price $197k (yes, the exact same stats 2 months in a row)

Oct 10, 2010-Nov 10,2010: Number of listings sold: 643, Average list price $232k, Average sale price $211k

Nov 10, 2010-Dec 10,2010: Number of listings sold: 676, Average list price $241k, Average sale price $218k

Dec 10, 2010-Jan 10,2011: Number of listings sold: 771, Average list price $242k, Average sale price $219k

Jan 10, 2011-Feb 10,2011: Number of listings sold: 747, Average list price $236k, Average sale price $216k

Feb 10, 2011-Mar 10,2011: Number of listings sold: 775, Average list price $246k, Average sale price $224k
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Old 03-10-2011, 10:29 AM
 
Location: Palm Island and North Port
7,511 posts, read 22,920,068 times
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Here's a chart that the Tribune just posted today with the newest foreclosure stats:

Chart: Local foreclosures through February | HeraldTribune.com
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Old 03-10-2011, 11:32 AM
 
192 posts, read 496,780 times
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Don't jump to the conclusions that this means that there are less properties in trouble.
Here's the article that goes with SoFLGal's foreclosure chart:

Foreclosure filings fall sharply | HeraldTribune.com

"Foreclosure activity dropped to a 36-month low in February as allegations of improper foreclosure processing continued to dog the mortgage servicing industry and disrupt court dockets," said James J. Saccacio, RealtyTrac's chief executive.
"While a small part of February's decrease can be attributed to it being a short month and bad weather, the bottom line is that the industry is in the midst of a major overhaul that has severely restricted its capacity to process foreclosures."
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Old 03-10-2011, 11:51 AM
 
Location: Palm Island and North Port
7,511 posts, read 22,920,068 times
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Quote:
Originally Posted by lynne4t View Post
Don't jump to the conclusions that this means that there are less properties in trouble.
Here's the article that goes with SoFLGal's foreclosure chart:

Foreclosure filings fall sharply | HeraldTribune.com

"Foreclosure activity dropped to a 36-month low in February as allegations of improper foreclosure processing continued to dog the mortgage servicing industry and disrupt court dockets," said James J. Saccacio, RealtyTrac's chief executive.
"While a small part of February's decrease can be attributed to it being a short month and bad weather, the bottom line is that the industry is in the midst of a major overhaul that has severely restricted its capacity to process foreclosures."
Yeah I'm actually quoted in that article and talked extensively to the reporter who did the story. (I try not to post articles where I'm quoted in the story. To me it would seem like self promotion) The chart had similar stats.

Seems like some of this is tied to the David Sterns debacle but right now it's just a weird market and I don't think anyone knows if things are going up or down. I can say that short sales don't seem to be taking the amount of time they used to.

The stats are the stats and for the last few months in Sarasota county the prices have steadily gone up (except for one month). They haven't gone up a lot but they have just slightly. This was happening even before the Sterns issue.

We are seeing a huge decrease in foreclosure listings. Seems like no one really has any clear cut answers and that was the conclusion Braga (the reporter) came to as well.

The prices in North Port continue to fall, where the overall prices in Sarasota county seem to be rising slightly. So, really one part of the county is going up and the other is going down. Just a weird market...

Mar 10, 2010-Apr 10, 2010: Number of listings sold: 187, Average list price $102k, Average sales price, $97K

April 10, 2010-May 10,2010: Number of listings sold: 180, Average list price $105k, Average sale price $101k

May 10, 2010-June 10,2010: Number of listings sold: 222, Average list price $98k, Average sale price $95k

June 10, 2010-July 10,2010: Number of listings sold: 188, Average list price $98k, Average sale price $95k

July 10, 2010-Aug 10,2010: Number of listings sold: 139, Average list price $104k, Average sale price $96k

Aug 10, 2010-Sept 10,2010: Number of listings sold: 153, Average list price $98k, Average sale price $93k

Sept 10, 2010-Oct 10,2010: Number of listings sold: 146, Average list price $98k, Average sale price $92k

Oct 10, 2010-Nov 10,2010: Number of listings sold: 126, Average list price $100k, Average sale price $94k

Nov 10, 2010-Dec 10,2010: Number of listings sold: 151, Average list price $92k, Average sale price $87k

Dec 10, 2010-Jan 10,2011: Number of listings sold: 140, Average list price $99k, Average sale price $95k

Jan 10, 2011-Feb 10,2011: Number of listings sold: 145, Average list price $93k, Average sale price $89k

Feb 10, 2011-Mar 10,2011: Number of listings sold: 131, Average list price $85k, Average sale price $81k
Source: Mid Florida MLS

Last edited by SoFLGal; 03-10-2011 at 12:00 PM..
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Old 03-10-2011, 12:05 PM
 
Location: Englewood, FL
1,268 posts, read 2,999,730 times
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Thanks for posting this info.

Last edited by Beretta; 03-10-2011 at 03:19 PM..
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Old 03-10-2011, 12:16 PM
 
Location: Palm Island and North Port
7,511 posts, read 22,920,068 times
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Quote:
Originally Posted by coastal chic View Post
Thanks for posting this info.
Yeah I noticed that! I recognized your "home" picture in your profile.

Here's another different look at the same data. This is all sold properties, only in Sarasota. The numbers are all over, up one month and down the next and then back up.

Mar 10, 2010-Apr 10, 2010: Number of listings sold: 499, Average list price $350k, Average sales price, $317K

April 10, 2010-May 10,2010: Number of listings sold: 507, Average list price $314k, Average sale price $285k

May 10, 2010-June 10,2010: Number of listings sold: 527, Average list price $312k, Average sale price $283k

June 10, 2010-July 10,2010: Number of listings sold: 464, Average list price $282k, Average sale price $259k

July 10, 2010-Aug 10,2010: Number of listings sold: 355, Average list price $252k, Average sale price $231k

Aug 10, 2010-Sept 10,2010: Number of listings sold: 365, Average list price $249k, Average sale price $225k

Sept 10, 2010-Oct 10,2010: Number of listings sold: 374, Average list price $232k, Average sale price $213k

Oct 10, 2010-Nov 10,2010: Number of listings sold: 369, Average list price $259k, Average sale price $237k

Nov 10, 2010-Dec 10,2010: Number of listings sold: 370, Average list price $273k, Average sale price $249k

Dec 10, 2010-Jan 10,2011: Number of listings sold: 421, Average list price $282k, Average sale price $254k

Jan 10, 2011-Feb 10,2011: Number of listings sold: 399, Average list price $260k, Average sale price $239k

Feb 10, 2011-Mar 10,2011: Number of listings sold: 451, Average list price $248k, Average sale price $228k

Source: Mid Florida MLS

Last edited by Beretta; 03-10-2011 at 03:19 PM..
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Old 03-10-2011, 12:28 PM
 
Location: Englewood, FL
1,268 posts, read 2,999,730 times
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Is the # of higher-priced home lower overall? Are there simply more lower-priced properties to choose from? Are the sellers of higher-priced homes taking their houses off the market? I'm trying to figure out why the avg sale prices keep dropping.
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Old 03-10-2011, 01:05 PM
 
Location: Palm Island and North Port
7,511 posts, read 22,920,068 times
Reputation: 2878
Quote:
Originally Posted by coastal chic View Post
Is the # of higher-priced home lower overall? Are there simply more lower-priced properties to choose from? Are the sellers of higher-priced homes taking their houses off the market? I'm trying to figure out why the avg sale prices keep dropping.
It's kind of like a roller coaster. It went down from March-Sept. Then up from Oct-Dec and then back down for the last few months.

There are way more lower priced homes to chose from then higher priced homes.

Here are the number of homes priced at $500k or more in Sarasota county that sold in each month:
Mar, 2010: 111 Homes sold
Apr, 2010: 107
May, 2010: 96
June, 2010: 81
July, 2010: 46
Aug, 2010: 44
Sept, 2010: 45
Oct, 2010: 58
Nov, 2010: 62
Dec, 2010: 68
Jan, 2011: 56
Feb, 2011: 71

So, if you look at the numbers above it seems as though the luxury home sales market took a dive from Mar-July. Then it seems to be slowly coming back up.

Now, if you look at the sales in Sarasota county in the under $200K category it looks like this for Sarasota county home sales,
Mar, 2010: 364 Homes sold
Apr, 2010: 369
May, 2010: 346
June, 2010: 316
July, 2010: 197
Aug, 2010: 214
Sept, 2010: 196
Oct, 2010: 235
Nov, 2010: 221
Dec, 2010: 250
Jan, 2011: 224
Feb, 2011: 269

Not a lot of consistency in these numbers. Again, where are things going?
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