Some information about Bank owned properties Lee County Fl
All data was exported from the MLS.
The charts we produced with Microsoft excel
The chart above is for only the month of August. It becomes very apparent that the time to purchase Bank owned properties Lee County Fl was 2009 and 2010. Interestingly, 2008 August was the bottom of the market with a median price of (county wide not just Bank owned properties Lee County Fl) $88,000. We flirted with that same bottom in August 2009 with a Countywide median price of $88,500.
The chart below shows annual numbers with 2015 being a Year to date number for Bank owned properties Lee County Fl. The data was exported 10/08/2015
The filings of new foreclosures indicate that there will not be a return of the distressed market anytime soon.
We work with the Fort Myers News Press each month on an Article in relation to a statistical release we do. Here is last months article. http://www.news-press.com/story/money/2015/10/01/lee-county-home-permits-steady-foreclosures-low/73168634/
What is Bank owned properties Lee County Fl?
Bank owned (Real estate owned or REO) is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. A foreclosing beneficiary will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the beneficiary will legally repossess the property. This is commonly the case when the amount owed on the home is higher than the current market value of this foreclosure property, such as with a high loan-to-value mortgage following a real estate bubble. As soon as the beneficiary repossesses the property it is listed on their books as REO and categorized as an asset (non-performing asset).
We are finding that better deals can be found in non-bank owned homes for sale than Bank owned properties Lee County Fl. It is just having the knowledge and ability to find these gems.
Steelbridge Realty LLC Helping you buy, sell and lease.
Steelbridge Realty LLC is a Licensed Real Estate Brokerage that utilizes cutting edge marketing techniques and data driven Real Estate solutions in today’s ever changing environment.
Need helping buying a bank owned home? Call 239 694 3300
below is a list of active Bank owned homes that is updated every 15 minutes. Please reach out to us if we can help you!