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Cape Coral Foreclosures Drop By 13% for August

By
Real Estate Broker/Owner with Villa Realty Group, Inc.

Cape Coral Foreclosures dropped by 311, almost 13% in the month of August compared to July.  August saw 2,156 Cape Coral foreclosure filings and July saw 2,467 Cape Coral Foreclosures filed.  This is encouraging news as we are starting to head in the right direction.  The real question is will this trend continue.

For buyers in the market for a new home who have been sitting on the fence waiting to time the bottom, this just might be the signal you need.  Once the media puts their belssing on it after another couple of months of declines everyone will be rushing out looking to buy a Cape Coral home.  If you are serious about buying a home, now is an excellent time.  Prices and availibility of choices are plentiful.

Unsure how to buy a Cape Coral foreclosure or short sale watch my interview with Amy Wegmann, FOX 4 News in my previous blog.  You can also download our special FREE Guide, "How To Successfully Buy Foreclosures and Short Sales" and "The Ten Biggest Mistakes Buyers Make"

Opportunity is knocking, will you answer the door?  Don't wait till next month, becuase if the number of filings is lower you can count on their being more competition in the Cape Coral real estate market.

Comments(7)

Stan McLaughlin
Keller Williams Realty - Norman, OK

Hi Chris:

I don't know how to reply to someone who has commented on one of my posts yet.  So I will reply to your comment on my post about Allen Iverson's home being on the market. 

I used to only blog about real estate issues, issues that would help each other's business.  But, I keep seeing posts about Youtube's John Stewart's political video and whose dog won first place in a weekend show.

I thought, at least, this is real estate related.  Do you have any thoughts about how AR Realtors are using their platform?

Sep 10, 2008 01:07 AM
JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

It's good to hear about foreclosures being down. That's always a positive sign.

Sep 18, 2008 07:17 AM
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

That is an awesome number and I hope that was the bottom for you and that the buyers finally get the hint they need to buy now!

Todd Clark, Helping Families Home - www.IFoundYourNewHome.com

Sep 19, 2008 06:11 PM
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Foreclosures were down here, too, and sales were up while prices were down. All of that is good news here in San Diego for us because now more people can afford homes. The median price is $350,000, and affordability is up to 23%.

Sep 20, 2008 07:54 PM
Jeffrey Tumbarello
South West Florida Real Estate Investment Association - Fort Myers, FL

Those numbers you are quoting are my numbers that I release to the media. Those numbers are for Lee County as a whole. Not Cape Coral......

Jeff Tumbarello, SWFL REIA

Oct 01, 2008 09:03 AM
Aslan Realty Advisors, LLC
Fort Myers, FL
Staying a step ahead with Pride!

Chris,

You might want to check out what Jeff is saying above, the numbers are for LEE COUNTY.

"The number of foreclosure actions filed in Lee County dropped sharply in August, according to statistics released by the Southwest Florida Real Estate Association.

There were 2,156 foreclosures filed compared to a record 2,467 in July, a fall of 13 percent. There's been a long runup in the number of foreclosures over the past two years as the bottom has fallen out of home prices in the county."

Paige Rausch~Gulf Gateway Realty, Inc.

 

Oct 06, 2008 06:23 AM
April Hayden-Munson
Brookfield, WI
Brookfield Wisconsin Real Estate

It's great to see that the foreclosure rate has gone down!  I had to sell my Father's property on Pine Island 2 years ago, it was brutal.  His value was 1/2 what it was a year or two before that.

Oct 06, 2008 08:31 AM