Fort Myers experiences largest home price gain (Jacksonville, Miami: sales, foreclosures)

[hiknapster]

Lehigh Acres is part of Fort Myers. With most measures all of Lee County is included which means Cape Coral as well. My guess is if Lehigh were taken out of the equation the values would be even higher. Much higher, actually.

Either way, as my links show, Fort Myers-Cape Coral is leading the charge of recovery as they lead the charge of the crash and burn. As I have said many, many times; as goes Southwest Florida, there goes the rest of the country. Barring a disaster, I look for next year to be incredible. And once again - not to toot my own horn! - I'm dead on.

[equalrightsforeveryone]

Here is a little reality check for the real estate industry.
I always knew that they were a little over optimistic, but then reality smacks them right in the Puss


Existing home sales to be revised lower

"Far fewer homes have been sold over the past five years than previously estimated, the National Association of Realtors said Tuesday.
NAR said it plans to downwardly revise sales of previously-owned homes going back to 2007 during the release of its next existing home sales report on Dec. 21.
NAR's existing home sales numbers, released monthly, are a closely followed gauge of the health of the housing market."
Yun said the database NAR uses to track existing home sales, the Multiple Listing Service (MLS), has led the real estate agency to over-count existing home sales for several reasons.

Existing home sales to be revised lower - Yahoo! Finance (http://finance.yahoo.com/news/existing-home-sales-revised-lower-234700109.html?l=1 - broken link)

[hiknapster]

There is a very big difference between amount of sales as opposed to price.

What the article is talking about is the downturn back in 2007 and may have nothing to do with Southwest Florida. It talks about regional changes and methodology and cites Denver and Colorado Springs as having counted their sales twice.

"For the real estate business, this means the housing market's downturn was deeper than what was initially thought," (Lawrence) Yun, head of the National Association of Realtors, said.

Originally Posted by equalrightsforeveryone

Here is a little reality check for the real estate industry.
I always knew that they were a little over optimistic, but then reality smacks them right in the Puss


Existing home sales to be revised lower

"Far fewer homes have been sold over the past five years than previously estimated, the National Association of Realtors said Tuesday.
NAR said it plans to downwardly revise sales of previously-owned homes going back to 2007 during the release of its next existing home sales report on Dec. 21.
NAR's existing home sales numbers, released monthly, are a closely followed gauge of the health of the housing market."
Yun said the database NAR uses to track existing home sales, the Multiple Listing Service (MLS), has led the real estate agency to over-count existing home sales for several reasons.

Existing home sales to be revised lower - Yahoo! Finance (http://finance.yahoo.com/news/existing-home-sales-revised-lower-234700109.html?l=1 - broken link)

[Billythepokerkid]

Originally Posted by equalrightsforeveryone

Here is a little reality check for the real estate industry.
I always knew that they were a little over optimistic, but then reality smacks them right in the Puss


Existing home sales to be revised lower

"Far fewer homes have been sold over the past five years than previously estimated, the National Association of Realtors said Tuesday.
NAR said it plans to downwardly revise sales of previously-owned homes going back to 2007 during the release of its next existing home sales report on Dec. 21.
NAR's existing home sales numbers, released monthly, are a closely followed gauge of the health of the housing market."
Yun said the database NAR uses to track existing home sales, the Multiple Listing Service (MLS), has led the real estate agency to over-count existing home sales for several reasons.

Existing home sales to be revised lower - Yahoo! Finance (http://finance.yahoo.com/news/existing-home-sales-revised-lower-234700109.html?l=1 - broken link)

Solve all your problems dude, MOVE!

[prairie360]

Originally Posted by hiknapster

Lehigh Acres is part of Fort Myers. With most measures all of Lee County is included which means Cape Coral as well. My guess is if Lehigh were taken out of the equation the values would be even higher. Much higher, actually.

Either way, as my links show, Fort Myers-Cape Coral is leading the charge of recovery as they lead the charge of the crash and burn. As I have said many, many times; as goes Southwest Florida, there goes the rest of the country. Barring a disaster, I look for next year to be incredible. And once again - not to toot my own horn! - I'm dead on.

I think you've made some very valid points, because you're absolutely right, if you take Lehigh Acres out of the mix (Cape Coral-Fort Myers, Florida Metropolitan Statistical Area) the prices and percentages would be much higher.

I think you deserve to toot your horn on this one Hik. I would caution that employment (Or lack thereof) is married to the housing market, so both need to make steady improvement. Perhaps a changing of the guard in Washington will have some positive effect, even if it's only in perception, if nothing else. We'll see... And we'll keep our fingers crossed.

Now I hope my taxes don't go up too much.

[nhkev]

Originally Posted by equalrightsforeveryone

Here is a little reality check for the real estate industry.
I always knew that they were a little over optimistic, but then reality smacks them right in the Puss


Existing home sales to be revised lower

"Far fewer homes have been sold over the past five years than previously estimated, the National Association of Realtors said Tuesday.
NAR said it plans to downwardly revise sales of previously-owned homes going back to 2007 during the release of its next existing home sales report on Dec. 21.
NAR's existing home sales numbers, released monthly, are a closely followed gauge of the health of the housing market."
Yun said the database NAR uses to track existing home sales, the Multiple Listing Service (MLS), has led the real estate agency to over-count existing home sales for several reasons.

Existing home sales to be revised lower - Yahoo! Finance (http://finance.yahoo.com/news/existing-home-sales-revised-lower-234700109.html?l=1 - broken link)

Well let's look at this and what impact it has on Lee county.

first the article says it only counts realtor assisted sales. So what this means is there are more sales of homes than are being reported. How is this bad for the real estate equal???

2nd it says the reason for the overstatement of realtor assisted sales is that some properties are listed on multiple areas. What this means is that if I owned a house in Cape Coral and listed it on the florida Gulf coast Listing service but I also thought that I could attract other potential buyers by listing it on say Miami's MLS. Someone Looking for a house in Miami may see the listing for my cape coral house and buy it. What this would do is make it look like a sale happened in Cape Coral, and in Miami thus inflating Miami's sales by 1 house but Cape Coral's would be accurate.

The way to test if this is a problem is go on the Cape Coral MLS and look to see how many properties are not in Cape Coral. Because if there were a lot of listings for say Sarasota, miami, ft lauderdale on the Cape Coral MLS it would inflate the sales of Cape Coral when they sell. So equal how many have you noticed??? I haven't seen any. Therefore it may skew regional numbers but the local numbers at least for Cape coral are dead on if not more since the for sale by owner and people buying foreclosures at auction, Don't get counted.

[st468]

Originally Posted by prairie360

I think you've made some very valid points, because you're absolutely right, if you take Lehigh Acres out of the mix (Cape Coral-Fort Myers, Florida Metropolitan Statistical Area) the prices and percentages would be much higher.

I think you deserve to toot your horn on this one Hik. I would caution that employment (Or lack thereof) is married to the housing market, so both need to make steady improvement. Perhaps a changing of the guard in Washington will have some positive effect, even if it's only in perception, if nothing else. We'll see... And we'll keep our fingers crossed.

Now I hope my taxes don't go up too much.

I second that! Especially the point about "changing the guard in Washington".

[equalrightsforeveryone]

Originally Posted by Billythepokerkid

Solve all your problems dude, MOVE!

You Sound like a broken record.

[JeffTumbarello]

Here is 2011 https://docs.google.com/open?id=0B03...UzYTc5NTQ0YmQx

Here is 2010 https://docs.google.com/open?id=0B03...MyNzVkNzMyMzM4

this data was exported from the mls, culled for dups and then trended with excel

[hiknapster]

The second link isn't coming up for me. Anyone else?