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Old 01-17-2013, 07:02 AM
 
1,299 posts, read 1,997,260 times
Reputation: 245

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Florida Defies Housing Rebound as Foreclosures Soar: Mortgages"
One in every 32 Florida households received a notice of default, auction or repossession in 2012, more than double the average U.S. rate of one in 72, the Irvine, California-based data seller said today in a report. Home repossessions increased by 16,276 during the year to 84,456, the biggest gain nationwide. Adding to the state’s woes is a backlog of foreclosures caused by a required court review of each case.
Florida’s bank-owned inventory at Dec. 31 was 83,697, up 6.8 percent from 2011. It had the highest share of foreclosure supply compared with other states for the U.S.
Florida led with the most properties in some stage of mortgage distress at 305,766, or 20 percent of the U.S. total.
In Naples on Florida’s gulf coast, an established vacation destination for decades, median prices last year rose 17 percent to $204,000, said Brenda Fioretti, residential agent at Prudential Florida Realty and former president of the Naples Area Board of Realtors. It was the biggest annual gain since 2006, one of the bright spots for the state in 2012.
“Naples is unique because investors are attracted to our second homes,” Fioretti said in an interview. “We’ve always been a high-priced area and don’t have much of a starter home inventory. Back in 2004 and 2005, people were buying everything they could. They thought they’d just turn right around and sell, and then they couldn’t get rid of them.”



Florida Defies Housing Rebound as Foreclosures Soar: Mortgages - Bloomberg

 
Old 01-17-2013, 08:19 AM
 
Location: Florida Space Coast
2,331 posts, read 4,336,104 times
Reputation: 1514
That's why we titled this "Cape Coral" not Florida. here's a link to how lee county has been fairing regarding foreclosures. Looks like quite a nice trend compared to a few years ago. Wouldn't you agree Equal?


December 2012 Lee County Florida foreclosure trends report - YouTube
 
Old 01-17-2013, 04:04 PM
 
Location: Cape Coral
5,495 posts, read 6,324,242 times
Reputation: 2217
"Even with Florida’s top share of non-current mortgages, the number of those loans declined by 13 percent from a year earlier, outperforming other judicial states and pointing to an eventual resolution of the foreclosure crisis, LPS’s Blecher said."
-From Equal's article.
 
Old 01-19-2013, 12:20 AM
 
Location: Florida Space Coast
2,331 posts, read 4,336,104 times
Reputation: 1514
Quote:
Originally Posted by equalrightsforeveryone View Post
The last home that sold in our neighborhood was a 1377 sqft home it sold in the fourth quarter. The price was $50,100.00. That is $36.39 per sqft. And it was in good condition and occupied when it sold.
That is less then I paid for our home which is 100 sqft less in area back in 2009.
Real estate recovery mine hindquarters.
It is going down just as I said it would, hold on to your shorts

equal's last line.... it is going down just as I said it would. check out the chart from this article Lee county 2012 vs 2011 full year ... increase in price by 30%

http://www.news-press.com/article/20...er-experts-say
 
Old 01-19-2013, 07:07 AM
 
Location: Cape Coral, FL
154 posts, read 314,537 times
Reputation: 132
I looked at Listingbook this morning and they show around 1100 homes for sale but only 7 less than $75,000 and none less than $69,000 (plus there are about 10 listed as short sales under $75,000). I hardly think 7/1100, or .636%, indicates a market crash--and most of these were foreclosures.

I don't really understand why someone who owns a home in Cape Coral is so anxious to show that the price of his house is going down--why would that make you happy?
 
Old 01-19-2013, 01:22 PM
 
10 posts, read 15,352 times
Reputation: 13
Says 175 when I do a search on listingbook for 3/2 homes under 70k
 
Old 01-19-2013, 01:54 PM
 
1,299 posts, read 1,997,260 times
Reputation: 245
Quote:
Originally Posted by xoomer View Post
I looked at Listingbook this morning and they show around 1100 homes for sale but only 7 less than $75,000 and none less than $69,000 (plus there are about 10 listed as short sales under $75,000). I hardly think 7/1100, or .636%, indicates a market crash--and most of these were foreclosures.

I don't really understand why someone who owns a home in Cape Coral is so anxious to show that the price of his house is going down--why would that make you happy?
What the market is doing has nothing to do with where somebody lives, that should be obvious.
And wishful dreaming about a recovery is not going to make it happen.
If you can't figure out that there is something very wrong when sales are dropping and prices are rising at the rate they have been, then there is no help for you.
Before the crisis the prices rose every two to three months, and the volume was there. houses sold for way too much money, the prices were manipulated.
Now you got prices going up and nobody is buying, prices are again being manipulated, if that is not a red light for you then go right ahead and stick your head back in the sand and pretend that everything is wonnerful marbeless maybe even.
 
Old 01-19-2013, 04:25 PM
 
Location: Cape Coral, FL
154 posts, read 314,537 times
Reputation: 132
Default Oops...

Quote:
Originally Posted by dondude View Post
Says 175 when I do a search on listingbook for 3/2 homes under 70k
I did make a mistake of only having included three zip codes: 33990, 33904, and 33914.

I changed my "criteria" to:
  • Include residential properties
  • Single Family
  • No minimum, maximum = $75,000
  • Standard area: Cape Coral-City

Total houses for sale meeting that criteria: 1792

Results with short sales included: 46
Results without short sales included: 13
 
Old 01-19-2013, 04:41 PM
 
Location: Cape Coral, FL
154 posts, read 314,537 times
Reputation: 132
Quote:
Originally Posted by equalrightsforeveryone View Post
What the market is doing has nothing to do with where somebody lives, that should be obvious.
We are talking about the Cape Coral market--I'm not sure what you are talking about.

Quote:
Originally Posted by equalrightsforeveryone View Post
And wishful dreaming about a recovery is not going to make it happen.
Wishing the market will crash won't make it happen either!

Quote:
Originally Posted by equalrightsforeveryone View Post
If you can't figure out that there is something very wrong when sales are dropping and prices are rising at the rate they have been, then there is no help for you.
A lot of homes were sold at very low prices to investors. The investors fixed them up and now are selling them at much higher prices than they paid. It is obvious that the prices will be much higher than before even if sales are slower.

Quote:
Originally Posted by equalrightsforeveryone View Post
Before the crisis the prices rose every two to three months, and the volume was there. houses sold for way too much money, the prices were manipulated.
I'm still waiting to find out who was manipulating the prices--the buyers, the sellers, the bankers, the government, aliens? I'm also waiting to find out how they did the manipulating...how does some group of people design such a great conspiracy and carry it out?

Quote:
Originally Posted by equalrightsforeveryone View Post
Now you got prices going up and nobody is buying, prices are again being manipulated, if that is not a red light for you then go right ahead and stick your head back in the sand and pretend that everything is wonnerful marbeless maybe even.
I have no idea what you are talking about, and you don't either--just a lot of nonsense that you don't have the ability to explain.
 
Old 01-20-2013, 01:10 AM
 
Location: Florida Space Coast
2,331 posts, read 4,336,104 times
Reputation: 1514
Quote:
Originally Posted by equalrightsforeveryone View Post
What the market is doing has nothing to do with where somebody lives, that should be obvious.
And wishful dreaming about a recovery is not going to make it happen.
If you can't figure out that there is something very wrong when sales are dropping and prices are rising at the rate they have been, then there is no help for you.
Before the crisis the prices rose every two to three months, and the volume was there. houses sold for way too much money, the prices were manipulated.
Now you got prices going up and nobody is buying, prices are again being manipulated, if that is not a red light for you then go right ahead and stick your head back in the sand and pretend that everything is wonnerful marbeless maybe even.
Equal you say in your post. Before the crisis the volume was there. Please tell us how much volume was there in 2003-2004-2005. If 2012 had more sales in 2012 then any of those years will you change your mind?
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