Naples FL Blog

How Many Potential Short Sale and Foreclosure Active Listings Are There In Naples Florida?
September 28th, 2010 5:47 PM

The Florida Association of Realtors® recently released the real estate statistics for August 2010 for existing single family homes and condominiums  The number of units sold has increased over August 2009, while the prices have decreased.  The Naples Board of Realtors® does not submit data for this report as they compile their own report.

This past weekend I had buyers come into Naples from out of state.  They are also in the ranks of the 74% of buyers in Naples under $300,000.00.  We had a HUGE variety of properties to view.  The sheer mass of properties on the market is why it makes it important for buyers to work with a Realtor® who is very familiar with the area.

As of today, let us take a look at all the active listing in the Sunshine MLS for the Naples area:

Active Listings in Naples FL

Under 300K

All Active Listings In Naples FL

3,889

7,758

Short Sale Listings

Foreclosure Listings  

Short Sale Listings

Foreclosure Listings

1,039

396           

1,291

448

W-O-W!! 50.1% of all the active listings on the market are listings priced under $300,000.00.  26.72% of all listings under $300,000.00 are listed as potential short sales. 10.18% of all listings under $300,000.00 are listed as foreclosures.

Before you get all excited about running out to obtain the short sale or foreclosure buy of the century, you need to educate yourself into the disasters you could find yourself dealing with in these types of sales.  A good place to start is by reading my Short Sale and Foreclosure pages or researching these topics on the Internet.  You will also need to find a Realtor® who is an expert in dealing with these types of sales.

A past client of mine recently e-mailed me an article from the Wall Street Journal that talked about fear freezing the housing market.  The lack luster existing home sale statistics released by the National Association of Realtors for July 2010 showed a 27% decrease in sales from June of 2010.  The author makes several good points as to why buyers are waiting on the side lines.  Just looking at the volume of potential short sales under $300,000.00 in Naples makes me wonder how many of those potential short sales will find their way into foreclosure.  My "spidey" real estate senses tell me that prices will still have to come down as 22.41% of all the active listing in Naples are either listed as potential short sales or as foreclosures.

If you are thinking of buying a home in Naples, you may be waiting for the real estate market to decline further.  Unless a person has a clear crystal ball and can predict the future with certainty, who knows when the real estate market will hit bottom?  I can say that there is an extraordinary inventory of homes on the market in Naples with motivated Sellers.  In my 32 years as a Realtor® I have NEVER seen interest rates so low.  Mr. and Mrs. Buyer, prices may still come down, however, interest rates could go up.  This is a buyers market and the housing market in Naples is your oyster.

Would you like to own a home in Naples?  Search here, once at the search page, you can search by development or map area, save your search and new listing updates will be e-mailed to you.

Should you be thinking of selling your home in Naples and would like a candid assessment of what it would take to sell your home in today's market, I would be happy to provide you with a free market evaluation.  Feel free to give me a call at 239-594-2780 or e-mail me at Lynn@NaplesBuys.com.

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Please note that I receive no compensation for mention of any businesses or events.

About the author:

Lynn Wilber is a Real Estate Professional who lives in Naples.  Her 32 years of real estate experience and her area expertise have been valuable resources for Naples Sellers and Buyers.  For more information, please contact Lynn Wilber or call 239-594-2780


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Posted by Lynn H. Wilber on September 28th, 2010 5:47 PMPost a Comment

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Great post - lost of info

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