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Old 11-12-2009, 04:08 PM
 
Location: Palm Island and North Port
7,511 posts, read 22,950,539 times
Reputation: 2880

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Foreclosures that have sold in Manatee county:
Jan: 121
Feb: 96
Mar: 141
Apr: 111
May:140
June: 92
July: 76
Aug: 70
Sept: 93
Oct: 88
Nov: 18-so far
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Old 11-19-2009, 11:18 AM
 
43 posts, read 86,023 times
Reputation: 22
Jan.....Feb......Mar.....April......May.....June .....July.....Aug....Sept....Oct...Nov

92......138.......103......97.......139.......137. .....216.....187.....251.....161...273

121......96.......141.....111......140........92.. ......76.......70......93........88...18+

Great data to post together. Thank you SoFLGal!

What I take from this data is that Foreclosures are overtaking any kind of demand. And I can confirm this with what I am seeing as I go and look at properties. I look at one house and 3 others on the street are in some stage of Foreclosure.

I am going to go and start taking photos to show people. The numbers are just overwhelming. About 1 out of 2 people in Manatee and Sarasota county are underwater on their mortgage. And as prices go lower more people will just walk away.

Here are two links:




U.S. Cities With The Most Underwater Mortgages - Slideshows - CNBC.com


Foreclosures hitting more people with prime loans.
Delinquencies and foreclosures set 9th straight record in 3rd quarter as layoffs keep rising

Foreclosures hitting more people with prime loans - Yahoo! Finance (http://finance.yahoo.com/news/Foreclosures-hitting-more-apf-24626172.html?x=0&sec=topStories&pos=2&asset=&ccod e - broken link)=
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Old 11-19-2009, 11:47 AM
 
Location: Bernanke's Financial Laboratory
513 posts, read 1,225,317 times
Reputation: 225
Quote:
Originally Posted by SoFLGal View Post
Foreclosures that have sold in Manatee county:
Jan: 121
Feb: 96
Mar: 141
Apr: 111
May:140
June: 92
July: 76
Aug: 70
Sept: 93
Oct: 88
Nov: 18-so far
SoFlGal,

Question for you. I went out to your homepage and clicked on Foreclosure list. Then I clicked on the Sarasota foreclosure sublist. After a lengthy wait I ended up with 3,874 foreclosures.

Is that correct? Are there that many?
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Old 11-19-2009, 04:51 PM
 
Location: Palm Island and North Port
7,511 posts, read 22,950,539 times
Reputation: 2880
Quote:
Originally Posted by Dreamy46 View Post
SoFlGal,

Question for you. I went out to your homepage and clicked on Foreclosure list. Then I clicked on the Sarasota foreclosure sublist. After a lengthy wait I ended up with 3,874 foreclosures.

Is that correct? Are there that many?

I think you must have done something wrong or my website is not showing things correctly. There are currently 3877 properties for sale in Sarasota. Then if you click REO/bank owned, there are currently 101 properties in Sarasota. This includes any type of residential property-condo, SFR, etc

Bank owned properties sold in Sarasota County by the month:
Jan-179
Feb-193
Mar-229
Apr-223
May-189
June-142
July-110
Aug-81
Sept-118
Oct-119
Nov-45, so far this month

po14015-That's why I posted that info. I thought it might be interesting to see the full picture. There are currently 142 REO/bank owned properties in Manatee county. Looking at your data with mine it seems things started to go down hill in June. I think we'll see another increase in sales from Jan-May in 2010. I just am not sure how many foreclosures will be coming out.

I also think we may see more A paper borrowers going under and more of the higher priced properties coming on as REO's.

Last edited by SoFLGal; 11-19-2009 at 05:09 PM..
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Old 11-19-2009, 06:49 PM
 
Location: Bernanke's Financial Laboratory
513 posts, read 1,225,317 times
Reputation: 225
Quote:
Originally Posted by SoFLGal View Post
I think you must have done something wrong or my website is not showing things correctly. There are currently 3877 properties for sale in Sarasota. Then if you click REO/bank owned, there are currently 101 properties in Sarasota. This includes any type of residential property-condo, SFR, etc

Bank owned properties sold in Sarasota County by the month:
Jan-179
Feb-193
Mar-229
Apr-223
May-189
June-142
July-110
Aug-81
Sept-118
Oct-119
Nov-45, so far this month

po14015-That's why I posted that info. I thought it might be interesting to see the full picture. There are currently 142 REO/bank owned properties in Manatee county. Looking at your data with mine it seems things started to go down hill in June. I think we'll see another increase in sales from Jan-May in 2010. I just am not sure how many foreclosures will be coming out.

I also think we may see more A paper borrowers going under and more of the higher priced properties coming on as REO's.
I just tried it once again and got the same results, so I think your website is suspect.

Trulia reports 515 single family foreclosures out of 2,419 homes, and 144 condo foreclosures out of 1,184.
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Old 11-20-2009, 05:09 AM
 
Location: Palm Island and North Port
7,511 posts, read 22,950,539 times
Reputation: 2880
Quote:
Originally Posted by Dreamy46 View Post
I just tried it once again and got the same results, so I think your website is suspect.

Trulia reports 515 single family foreclosures out of 2,419 homes, and 144 condo foreclosures out of 1,184.
Could be. Can you DM me the page your talking about so I can look into it? I have that data on a few pages on my site. Looks like Trulia's figures are a bit off as well.
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Old 11-20-2009, 10:04 AM
 
Location: Sarasota FL
6,864 posts, read 12,101,113 times
Reputation: 6744
Here are more numbers to kick around. When you click the 'foreclosure' box on myfloridahomesmls, there are 638 listings in Sarasota, 533 in Charlotte and only 10 in Manatee. But when you read the 'note', it says that the listings include pre and post foreclosures, short sales and bank owned. As a side note, it's interesting to see that 42% of the Sarasota 'foreclosure' listings are in Northport.
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Old 11-23-2009, 05:42 PM
 
43 posts, read 86,023 times
Reputation: 22
Glut of area foreclosures expected to swell

What I have been posting all along. Prices still have a long way to go down.


Glut of area foreclosures expected to swell - Top Stories - BradentonHerald.com (http://www.bradenton.com/847/story/1866297.html - broken link)
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Old 11-24-2009, 10:13 AM
 
Location: Florida
4,896 posts, read 14,157,802 times
Reputation: 2329
Quote:
Originally Posted by po14015 View Post
Glut of area foreclosures expected to swell

What I have been posting all along. Prices still have a long way to go down.


Glut of area foreclosures expected to swell - Top Stories - BradentonHerald.com (http://www.bradenton.com/847/story/1866297.html - broken link)
Being that Manatee County's largest employers are finalizing their 2010 budgets, I would guess to say, "ah, yeah...what else is new?" Whoever's getting the ax now will be foreclosing around this time next year.
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Old 11-29-2009, 04:35 PM
 
Location: state of enlightenment
2,403 posts, read 5,247,588 times
Reputation: 2500
Quote:
Originally Posted by Big House View Post
Good Post Lady!
I agree, there is a whole cycle yet to transition through. And with all the commerical investments about to crash like the home market has, a lot of business that have invested in them are going to have to cut overhead to the bone again.

That guy is going to have some pretty tight buns, and be in pretty good shape if he is going to pedal his bike 24 miles to work and back everyday!!
And I sure hope he can take a shower somewhere before work cause he ain't gonna smell pretty esp. in the summer.
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