August SFR sales Lee County Fl - 09/22/08 04:01 PM
While the rest of the world crashes, we are increasing in sales!   This data is a courtesy of one of our Corp Sponsors. All of our Corp Sponsors can be found at http://www.swflreia.com/businessdirectory.html If you are an investor these are the people you should be doing business with. If you have a service to offer investors, you should be a Corp Sponsor of the SWFL REIA   Lee County
Lee County SFR Sales August 2008: 710 Lee County SFR Sales August 2007: 424 Active listings Lee County 11567 We absorbed 6% of the Inventory 73 Percent Increase Month over Month in … (0 comments)

FDIC eats another, Treasury getting read to eat 2 elephants - 09/22/08 04:00 PM
On September 5, 2008, Silver State Bank, Henderson, NV was closed by the Nevada Financial Institutions Division and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. All insured non-brokered deposit accounts have been transferred to Nevada State Bank, Las Vegas, NV ("assuming institution") and will be available immediately. Nevada State Bank entered into a separate agreement to sell the Arizona branches of Silver State Bank to its affiliate National Bank of Arizona. On Monday, the former Silver State Bank locations will reopen as branches of Nevada … (0 comments)

August 2008 Lis Pendens and Foreclosure Recap - 09/22/08 03:59 PM
Number of deeds conveyed by the clerk of the court via foreclosure action 1210 Number of Mortgage related Lis Pendens 2156   The trend is changing. The deeds being conveyed is starting to gain momentum.     Notes Lis Pendens Filings   •         We had a reduction from July to August. The key to watch is the next 2 months •         September is the last month of QTR 3. The Filings have showed a pattern of a month increase and a 2 month decrease followed by another increase. Another factor there might be pressure to show an improvement in QTR 4 … (0 comments)

Number one tip I can give a new investor. - 09/22/08 03:59 PM
Get to know your farm market like the back of your hand. You should have the value pegged. That way you will not work on deals that will not make you money. The key is to quickly kill the bad deals to focus on the right ones. Then when you know your market. How will you get paid? Its really boils down to is the buyer getting a conventional mortgage? If a conventional lender detects a hint of an assignment of contract, the deal is dead. Also, many sellers will not execute a contract with someone who has no intention of … (0 comments)

A Basic Understanding of Real Estate Cycles - 09/22/08 03:58 PM
A Basic Understanding of Real Estate CyclesI am sharing my own research which, I use for my own selfish reasons I do not hold my self out as an expert. I am just a Real Estate guy, trying to feed his children! In support of the statement above, I will readily change any and all beliefs, I have, when presented with facts, that would prompt me!   Civilization rests on change. This change is cyclical in origin. A rhythmic series of extreme changes constitutes a cycle. When a cycle has completed, another cycle is started. The rhythm of the new cycle … (0 comments)

Lee County Florida The Forclosure Trend hasn't abated - 09/22/08 03:58 PM
Lee County Lis Pendens for the Month of July 2008, 2467, up 3 percent from the 2,390 foreclosures in June. In July 2007, there were 1,045 foreclosures.Foreclosures are doing what they're doing, but the good news is that people are buying foreclosures, so at least there is a demand for these.The 3% rise is a little misleading... June = 21 working days.... Jul =22 working days (4th was holiday) - 4.67% more days to get 'em filed. So the trend stayed the same. .I am just looking at the Per-Diem Foreclosure filings now. We are going to reach a point where … (0 comments)

Why you should become an Empirical Skeptic - 09/22/08 03:57 PM
First things first, most days I get some sort of prediction from someone about the state of the housing market. I have found that most of these are either driven by an agenda or by emotion. There is too much speculation as to what tomorrow may bring, when today is here, right in front of you. We usually will not know what happened today until tomorrow. So why even focus on tomorrow, when you have today! Use what you learned yesterday. It is often a waste of time and resources to speculate what will happen tomorrow in any sort of detail. … (0 comments)

It is supposed to be summer here - 09/22/08 03:56 PM
Summer is supposed to be the slow time here in SWFL
 looked up July YOY last night
This is for Cape Coral SFR sales, 7/1 -7/23 07 versus 08 2007 102 sales money in motion 28,968,595 Avg sale 284,006 Median sale 239,500 2008 227 sales Money in motion 41,136,410 Avg Sale 181,218 Median sale  142,300
That is encouraging. The world, empirically, is never as good or as bad, as it seems on the streets and in the media.
The world is cyclical either by design or the experiment just works better that wa
… (0 comments)

 

Jeffrey Tumbarello

Fort Myers, FL

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South West Florida Real Estate Investment Association

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