November 2011

Foreclosures on the Rise in Southwest Florida

For all of you who think that there is going to be another wave of Foreclosures last month’s news should have been well received.  Lee County, Charlotte County, and Collier County all saw foreclosure activity jump in October.  While all three had less activity than the same month of the previous year the increases month over month were notable.

Lee County, for instance, saw the number of Foreclosure filings jump by 39.5 % to 1,922 units according to “RealtyTrac.  That number, however, was down by nearly 50% from October a year ago.  Similarly, Charlotte County saw their filings rise 43.8% to 542 units.  Collier County was up 17% from September but down 52.5% from last year.

Media does their best to make everything dramatic.  Clearly a rise in foreclosures month over month is notable, but the bigger number is year over year.  By all accounts, the number of foreclosure filings have fallen by 50% in Southwest Florida year over year.  You can bet that fact along with steady demand has helped prices inch up ever so slightly.

All of these statistics could mean that the smoke has cleared with the “robo-signing” problems and that banks are back on track and processing delinquent homes.  The big question is how will they release them to the market and when.  My theory has been that they will release this inventory in a more measured way and work to protect the remaining property values but that remains to be seen.  In the mean time, we wait and watch but we have only been seeing foreclosure inventory remain sparse and overall prices have been moving up.

If you have your eyes on a specific community I suggest that you communicate that to us and act quickly if we send something your way that you like.  The market is turning over quickly and it is harder and harder to find deals.  We recently were able to put an offer on a property within hours of it being listed.  We ultimately beat every other agent to the punch and got a fantastic deal negotiated for the buyer.  This would not have happened if we did not know exactly what they were looking for.

Bella Terra Estero – Community of the Month

Bella Terra Estero

Each month we highlight a community in Southwest Florida. This month we have chosen Bella Terra. We have chosen it because there is currently a unique sale opportunity, but I will get to that in a minute.

Bella Terra is centrally located just 3 miles east of I-75 on Corkscrew Road in Estero, FL. Situated right in between Naples and Fort Myers, you have everything at your finger tips. Certainly shopping is a breeze. Miromar Outlets, Gulf Coast Town Center, and Coconut Point are all in close proximity and offer a full array of shopping, dining, and entertainment experiences.

As you enter the gates you immediately notice the fabulous Central fountain and clock tower and to the right the amazing amenity center. In the amenity center you will find nearly any activity you could want. A club house with a full time activity director, a huge resort style pool, fitness center, tennis courts, basketball courts, Bocce ball, Volleyball, soccer, a baseball diamond, and an in-line skating rink are some of the amenities that await you. With more than 2350 homes this community is a beehive of activity.

In the past resale homes were the way to go. Due to the timing of the community there were a number of distressed homes and the prices of new homes just did not make much sense when compared to re-sales. The gap between the two has been narrowing and right at this very time you can actually purchase a brand new Lannar home for less than the price of a re-sale. Are you ready to make a move? Here is your opportunity.

Modena Manor Single Family Home. 1,861 square feet under air, 3 Bedroom, 2 bath. THREE car garage. Granite, 18″ tile, crown molding, SS appliances, many upgraded finishes. Nice site with preserve views.
Was= $289,500 OCT CLOSE= $232,900 Total monthly fees of $192.

Why settle for a home that someone else has lived in when you can purchase brand new at a price like this?  This offer is good until the home is sold or until the end of the month so if it sounds like it might be right for you do not hesitate. Pick up the phone and give us a call. Purchase this month and spend Christmas with your family in your new home.

If you are more interested in resale possibilities, let us know and we will be happy to send you available listings.

I would highly recommend him!

“Brad is an excellent realtor. He is very thorough, very conscientious, very knowledgeable and very patient. He went above and beyond the basics in order to help us find the perfect condo for us. After the sale he continued to be extremely helpful. I would highly recommend him!”

~Dennis & Margaret Haire