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Naples Condo Market Statistics May 2010

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The Naples real estate market for condos shows a stable median sold price at the end of May, while the months of inventory and available condos for sale are declining. The number of condos being purchased continues to increase over the previous 2 years. Pending sales are also higher than in the previous 2 years. Overall, the buyer’s market of the past 2 years continues to weaken, while the prices have remained stable.

Median Sold Price:

During the month of May 2010, the median sold price of a condo in Naples slightly decreased over the last May by less [Read more...]

Filed Under: Naples Market Update

Collier County Foreclosures

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The number of Lis Pendens (the formal notice that starts the foreclosure process) has steadily been declining in the Collier County and Naples area.

In October 2008 was the peak of filings with a total of 946 filings.

Lis Pendens and Certicate of Title Volumes - 2007 to May 2010

The graph shows the number of filings occurring on a monthly basis according to the Collier County Clerk of Courts office. The trend line shows the right leg of a normal bell curve which represents a downward trend in the number of foreclosure actions being filed. [Read more...]

Filed Under: Naples Florida Real Estate

Importance of Months of Inventory Statistic

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The months of inventory represents the number of months to sell the existing listings on the market based upon the average monthly sold properties for the immediate past 12 months for the local, state, or national real estate market. The statistic will vary from real estate market, as previously defined. A local real estate market for example would be the Naples area or Bonita Springs area. A state real estate market for example would be Florida. The national real estate market obviously is for the entire country. A prospective buyer or seller should be aware of the differences between the real estate markets, as the statistic varies.

If you have ever heard the terms buyer’s market or seller’s market the months of inventory this is the statistic assists in determining what type of market it is. [Read more...]

Filed Under: Real Estate Tips

Short Sale – Foreclosure Implications for Sellers

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Is a lawsuit from your lender in the future a possibility after your short sale or foreclosure? Homeowners may find themselves in the possible tidal wave of lawsuits from lenders or mortgage holders against homeowners in the future as a way to recover losses when sales of homes involve a short sale or foreclosure when not enough money to pay the mortgage(s) in full, according to legal and real estate analysts.

“It will be a dramatic problem because the borrowers will not know it’s coming,” according to Frank Alexander, a law professor at Emory University in Atlanta, Georgia. [Read more...]

Filed Under: Real Estate News
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