Positive News Continues for SW Florida
While Florida is still a top five state when it comes to foreclosure rates, its dark mid-2000 past is a distant rear-view image, RealtyTrac’s November market report suggests.
November saw a 15 percent monthly drop in foreclosure starts nationwide, the lowest total starts since May 2006. That falling monthly trend has been the case for close to half of 2015 now, measured on a year-over-year basis, and scheduled auctions are at their lowest levels since 2005.
“Foreclosures were the news of the past four or five years, but they’re no longer the news of the day. I've been tracking them since 2009, but stopped doing it two or three quarters ago." Doug Meschko, Land Solutions Market Research Director.
Meschko also went on to say that foreclosures in Southwest Florida have become "a nonissue."
Locally, foreclosures are “only a little above 2004,” Meschko said, and foreclosed properties are being absorbed quickly back into the market, selling at higher prices than in the bad old days.
For buyers, it means “the party’s over,” said Meschko. “We’re in a retail market favoring the seller. Appraisals are up because foreclosures aren’t in the mix. It’s a healthy market again.”
Southwest Florida Fun Fact
As Northerners travel South to escape the cold and snow, many find themselves relaxing on one of Southwest Florida's beautiful beaches. One of those beaches is Siesta Key which Trip Advisor rated the #1 beach in the US for 2015.
Have any Family or Friends interested in Southwest Florida?
I would be more than happy to send them information or include them in this mailer. Please do not hesitate to contact me if you have any friends or family with questions or would like to learn more about beautiful Southwest Florida.
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