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Old 08-17-2011, 08:20 PM
 
Location: cape coral
244 posts, read 487,530 times
Reputation: 169

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Please read here:

"Take Fort Myers. The Sunshine State’s retirement haven, where home prices tumbled 58.6% from their 2006 peak, had a 2.9% appreciation rate in the first quarter and a 3.7% rate during the second. Those numbers have been steadily inching back up since November of 2010, following the home price dip felt throughout the U.S. (including in many of the cities that grace this list) after the First-Time Home Buyer tax credits expired. In spite of that dip, homes in Fort Myers have appreciated 3.8% from June of 2010 to June of 2011."

Cities Where Housing is Recession-Proof - Yahoo! Real Estate

 
Old 08-17-2011, 10:39 PM
 
Location: The Conterminous United States
22,584 posts, read 54,285,430 times
Reputation: 13615
Quote:
Originally Posted by monikac21 View Post
Please read here:

"Take Fort Myers. The Sunshine State’s retirement haven, where home prices tumbled 58.6% from their 2006 peak, had a 2.9% appreciation rate in the first quarter and a 3.7% rate during the second. Those numbers have been steadily inching back up since November of 2010, following the home price dip felt throughout the U.S. (including in many of the cities that grace this list) after the First-Time Home Buyer tax credits expired. In spite of that dip, homes in Fort Myers have appreciated 3.8% from June of 2010 to June of 2011."

Cities Where Housing is Recession-Proof - Yahoo! Real Estate
Oh holler, girlfriend! It even mentions the dreaded June dip but explains the tax credit. Great job.

Btw, my area is on the list, too! Knoxville, Tennessee - Morgan Brennan - Forbes

As I've said a gazillion times, all real estate is local. Period. In fact, different areas can have varying economic climates. There are places in this country with unemployment rates less than 4 percent. Everyone will recover at their own pace.
 
Old 08-18-2011, 09:52 AM
 
Location: cape coral
244 posts, read 487,530 times
Reputation: 169
Quote:
Originally Posted by equalrightsforeveryone View Post
You are entitle to your wrong opinion as they say.
Have you read this?



Originally Posted by monikac21
Please read here:

"Take Fort Myers. The Sunshine State’s retirement haven, where home prices tumbled 58.6% from their 2006 peak, had a 2.9% appreciation rate in the first quarter and a 3.7% rate during the second. Those numbers have been steadily inching back up since November of 2010, following the home price dip felt throughout the U.S. (including in many of the cities that grace this list) after the First-Time Home Buyer tax credits expired. In spite of that dip, homes in Fort Myers have appreciated 3.8% from June of 2010 to June of 2011."

Cities Where Housing is Recession-Proof - Yahoo! Real Estate
 
Old 08-18-2011, 10:26 AM
 
Location: Indiana and Cape Coral
282 posts, read 1,008,907 times
Reputation: 151
What is the inventory of houses now compared to say 2-3 years ago? It seems to me there are not near as many houses for sale.
 
Old 08-18-2011, 11:15 AM
 
Location: Cape Coral, FL
964 posts, read 2,064,391 times
Reputation: 591
Quote:
Originally Posted by equalrightsforeveryone View Post
You are entitle to your wrong opinion as they say.
Quote:
Originally Posted by Angelala View Post
What is the inventory of houses now compared to say 2-3 years ago? It seems to me there are not near as many houses for sale.
No, there isn't. Monika has posted hard data on this in post #1003, copied below. FYI - There's a troll in this newsgroup that doesn't seem to have the ability to read or understand.

And here are some current housing numbers for SW Florida:

From January to June 2011 - 6 Month we sold
8,337 Single Family Homes and
2,315 Condos

From January to December 2005 - 12 Month!! (Real Estate Boom!!) we sold
9,842 Single Family Homes and
3,675 Condos

From January to December 2006 - 12 Month (Real Estate Boom!!) we sold
8,144 Single Family Homes and
1,618 Condos

The Median Price in June 2011 is $ 101,500
The Median Price in June 2010 was $ 93,000

In June 2011 we sold 1,233 Homes and only 1,013 Homes were newly listed

June 2011 we sold 1,233 homes
Out of those 1,233 homes were 318 Bank Foreclosures, 241 Short Sales and 674 conventional sales.
 
Old 08-18-2011, 11:22 AM
 
Location: Cape Coral, FL
964 posts, read 2,064,391 times
Reputation: 591
Angelala, CCRESI also posted data regarding a year over year available property number comparison that further supports the point that we are in an upswing. It's located in another thread entitled 2010 versus 2011 Real Estate, and copied here:

Cape Coral Real Estate

Transactions for June/July 2010 vs. June/July 2011


The following is a recap of June and July, showing both years dating 2010 and 2011 for comparison of Residential Single Family Property in Cape Coral.
I had it all pretty and lined up, but it won't stay like that. Hopefully you don't have trouble reading it. Enjoy.

Active Residential Property for Sale

JUNE

2010 2011

1800 Traditional Sales(T) 1487
135 REO 160
715 short sales (S.S) 232
__________________________________

2650 Total 1879

June had a decrease in Active properties in 2011 vs. 2010.

================================================== ===
JULY

2010 2011

T: 1822 1226
REO: 335 135
SS: 815 188
_________________________________
Total: 2972 1549

July showed a decrease in Active property in 2011 vs. 2010.


Conclusion: Homes coming onto the market have started to slow down, inventory is shrinking. More Traditional Sales than short sales or REO's believe it or not.


Residential Closings

JUNE

2010 2011

T: 210 273
Reo: 211 110
S.S: 121 119
______________________

Total: 542 502

JULY

2010 2011

T: 164 188
REO: 158 96
S.S: 99 92
__________________________
Total: 421 376

We had less closings, however, also less inventory. Traditional Sales sold more than REO or Short Sales(except for in June 2010).

Averages

List Price:
2010: 136k
2011: 164k

Sales Price:
2010: 130k
2011: 155k

Days on MarketDOM)
2010: 75
2011: 90



Quote:
Originally Posted by Izmack View Post
No, there isn't. Monika has posted hard data on this in post #1003, copied below. FYI - There's a troll in this newsgroup that doesn't seem to have the ability to read or understand.

And here are some current housing numbers for SW Florida:

From January to June 2011 - 6 Month we sold
8,337 Single Family Homes and
2,315 Condos

From January to December 2005 - 12 Month!! (Real Estate Boom!!) we sold
9,842 Single Family Homes and
3,675 Condos

From January to December 2006 - 12 Month (Real Estate Boom!!) we sold
8,144 Single Family Homes and
1,618 Condos

The Median Price in June 2011 is $ 101,500
The Median Price in June 2010 was $ 93,000

In June 2011 we sold 1,233 Homes and only 1,013 Homes were newly listed

June 2011 we sold 1,233 homes
Out of those 1,233 homes were 318 Bank Foreclosures, 241 Short Sales and 674 conventional sales.
 
Old 08-18-2011, 01:05 PM
 
1,299 posts, read 2,349,784 times
Reputation: 245
Quote:
Originally Posted by Angelala View Post
What is the inventory of houses now compared to say 2-3 years ago? It seems to me there are not near as many houses for sale.
This gives you an idea of the shadow inventory that has yet to hit the market.
"Business exclusive: Banks in Lee and Collier carry costs from foreclosed homes"

Business exclusive: Banks in Lee and Collier carry costs from foreclosed homes | The News-Press | news-press.com
 
Old 08-18-2011, 03:51 PM
 
Location: Indiana and Cape Coral
282 posts, read 1,008,907 times
Reputation: 151
Thanks, we just closed yesterday on a bank foreclosure that had multiple offers on it. I have been watching about 7 houses in listingbook and they were all pending within days.
 
Old 08-18-2011, 03:59 PM
 
Location: Cape Coral
5,503 posts, read 7,333,723 times
Reputation: 2250
Quote:
Originally Posted by equalrightsforeveryone View Post
This gives you an idea of the shadow inventory that has yet to hit the market.
"Business exclusive: Banks in Lee and Collier carry costs from foreclosed homes"

Business exclusive: Banks in Lee and Collier carry costs from foreclosed homes | The News-Press | news-press.com
Someone tell me if I am missing something. The article says that Lee County banks are holding $34 Million in real estate. If they are using mark to market pricing, which they probably are, the median price for these properties is maybe $200,000. So that would be about 170 homes (that is not excluding vacant land or commercial properties that is part of the $34M). So maybe 125 homes in Cape Coral are being held by banks. This is the huge shadow inventory?
 
Old 08-18-2011, 04:05 PM
 
Location: cape coral
244 posts, read 487,530 times
Reputation: 169
Quote:
Originally Posted by rikoshaprl View Post
Someone tell me if I am missing something. The article says that Lee County banks are holding $34 Million in real estate. If they are using mark to market pricing, which they probably are, the median price for these properties is maybe $200,000. So that would be about 170 homes (that is not excluding vacant land or commercial properties that is part of the $34M). So maybe 125 homes in Cape Coral are being held by banks. This is the huge shadow inventory?
No actually from my (Realtor) point of view - I wish the properties would come on the market now. We are running pretty low on inventory in certain price ranges. We have multiple offers (from different buyers) on one single property and i hate those multiple offer situations where buyers are bidding against each other and bring the price up, sometimes even above list price.
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