We performed a study of Single Family Sales in Cape Coral and Lehigh. We were provided MLS data from a Corp member. We found some real interesting trends.
- Money is in motion. For a segment of the market.
- Short Sales are just not happening enough to matter. They remain a clog on the market and are unrealistically priced. We are of the opinion that they are used more for chum for buyers than a sound business model. The failure of short sales has more to do with Banking Guidelines which govern balance sheets. Its not in the bBanks best interst to do a short sales unless the purchase results in a high sellers net than would be obtained thru the REO sale.
- Sales Numbers are doing well. In, Cape Coral we came up with 392 Single Family Homes Sold. In. Lehigh Acres, we came up with 129 Sold.
- One thing which really jumped out was the percentage of corporate sellers. Lehigh Acres boasted 69 percent of the sales were corporate owned. In the Cape it was 54 percent.
- With 17,000 plus foreclosures still working in the system, expect this trend to hold for a bit.
What does all this mean for a Real Estate Investor? Bank Owned Properties is the Place to Focus. The best deals are being bought in the MLS from the banks. If you need help with this, we have several Corporate Sponsors who can help you http://www.swflreia.com/businessdirectory.html
Good Luck and Good Investing!
Illegitimis non carborundum
;)
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