By Brett Ellis
Can you believe it’s 2017 and we still receive phone calls from people who say “I want to buy a foreclosure in Southwest Florida?” It’s true. Short sales too.
Who wouldn’t want a bargain, especially when prices have risen so much from the bottom of the market back in the housing crisis? People also watch those TV shows and see how others flip houses for unbelievable profit with little to no work. Other TV shows illustrate how buyers can buy a property, put some sweat equity into it, and flip for amazing profits.
Southwest Florida isn’t that market. In September there were exactly 2 short sales and 13 foreclosure sales in Lee County. As we know Hurricane Irma slowed down sales, so we went back to August and found there were 8 short sales and 41 foreclosure sales. Short sales and foreclosures combined came to about 4% of the total sales in Lee County in August, and about 2% in September. There just are not many short sale and foreclosure listings out there.
Want to Buy a Foreclosure in Southwest Florida
We get it, everybody wants a deal. However, the thing people need to know …read more
Source:: Top Agent