Cape Coral Foreclosures|Fort Myers Foreclosures|Lee County Foreclosures

Foreclosure filing is down for August in Lee County according to the Southwest Florida Real Estate Investors Association and reported in the News-Press.  Lenders filed 834 foreclosure lawsuits in August in Lee County.  That number is down from July’s filings of 882 and less than half the 1,692 reported in August 2009.  In the article, it is also reported that 70% of recent sales transactions have been CASH.  In our office, it seems to be about 85% of our transactions are CASH.  Currently, the foreclosure inventory is low.  The Banks are still doing a decent job of controlling the inventory. 

If you would like to have new foreclosures or short sales that come on the market emailed to you sign up for our Listing Manager.  Be sure to choose "ADVANCED SEARCH" to choose foreclosures and short sales.  This is service if free and there is no obligation. 

Check out our Search Foreclosures button on our home page at Floridawestshorerealty.com.  You instantly view Fort Myers Condo Foreclosures and Estero Condo Foreclosures.  Even though sales numbers have dropped in Lee County, Condo sales are still strong. 

Our current Lee County market conditions are positive.  There is no doubt about it, the Oil Spill really put a dent in July and August sales.  However, since the Oil Leak has stopped, buyers are BACK!  Typically September and October are much slower than July and August, but it seems that may not be the case in 2010. 

Fannie Mae is still offering Home Path Financing and Home Path Renovation mortgages on their foreclosure inventory.  The advantages of a Home Path Loan are

1.  Only 3% down
2.  No Private Mortgage Insurance
3.  No Appraisal

If you would like to view Fannie Mae foreclosures, call us at (239) 415-6500.  If you need to speak with a loan officer that can give you a quote on a Home Path loan, shoot us an email and we will send you a few recommendations.

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View Sanibel Captiva Foreclosures 

Here are the latest foreclosure related statistics Nationally and for Lee County according to Realty Trac:

Foreclosure Trends : June, 2010



                                 National                           Florida                        Lee County

NOD                       

NTS

NFS                          38,761                            16,456                              1,313
LIS                           58,194                            22,158                              1,078

REO                         85,527                            12,936                               873

Definitions:
Notice of Default (NOD)

A non-judicial document filed by a trustee that starts the foreclosure process.

Lis Penden (LIS)

Notification of pending lawsuit. A judicial document filed by an attorney or trustee that starts the foreclosure process.

Auction / Notice of Trustee's Sale (NTS)

A filing by notice announcing a public auction.

Notice (Judgment) of Foreclosure Sale (NFS)

An order signed by a judge directing to sell the property at public auction. 

Real Estate Owned (REO)

The final step in foreclosure process in which property ownership returns to lender.

If you want to read more about Lee County Foreclosure statistics, read this NEWS LETTER and then come back to Floridawestshorerealty.com to search Cape Coral Foreclosures, Fort Myers Foreclosures, and all areas of Lee County, Florida.