Bonita Springs and Fort Myers FL Area

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

We went by a temperature sign a little while ago, and it said 92. I'm sure it's not over 85.

We took our dog to the dog beach today for the first time, and she was overwhelmed. It was a very beachy day, and it was packed. Lotsa dogs, too, lovin' it.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Nice condo, nice area:

County, FL - Fannie Mae REO Homes For Sale

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Old Englewood has a lot of small places that can be cuted up. Here is a little 4 or 5 plex that was a foreclosure that we looked at in January, 2011. It was $20K-ish, and looks nice now.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Englewood/Manasota Beach 4-plex . . . vacation rental investment property or Florida winter home that can pay for itself:

County, FL - Fannie Mae REO Homes For Sale

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

http://www.homepath.com/search.html?...ingid=34216392

Nice, modest Englewood Condo with older residents. They golfed at my golf course every Monday.

$39,900.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

An island paradise condo, available only by ferry. $249,900, roughly 1/2 price:

http://www.homepath.com/search.html?...ingid=33600172

Same price, not on the island, bigger and newer:

http://www.homepath.com/search.html?...ingid=32829668

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Fannie Mae Listing Results 91 - 93 of 93

Where there used to be several hundred at a time.

Here's Lee County:

Fannie Mae Listing Results 1 - 15 of 259

It used to be 800-1200

[pranas Senior Member Find all posts View Profile Close pranas]

JLB,

As a Floridian, I find that while most of what you write is correct it is what you leave out that puts a different light on the situation. For example, it is common knowledeg that banks are holding back on foreclusures, see the link below.

http://www.sun-sentinel.com/business...,5365718.story

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Also as a Floridian (for whatever relevancy that has) . . .

Non one has ever accused me of leaving out anything.

I am aware of that and have discussed the robo-signing debacle, which has worked it's way through the courts. That and the fact that the federally-mandated loan relief agreeement reached by the five major lenders does not affect most of the distressed properties in Florida, suggest we have a foreclosure-in-waiting situation.

&, yes, nationwide there was a 9% increase (I believe that was the figure) in May over year-ago May, but the numbers are not now and I don't see them any time in the future being like they were when I was watching them every day (now I only look at them every other day or so), say June 2010 through January 2011.

As I've discussed, when we went to SW FL in January, 2011, we went armed with something like 76 foreclosures to look at, whittled down from the several hundred in our area of interest. If we were to do that right now, we'd have maybe 6 to go look at.

Back then, on just one site, homepath, there were 14,000-16,000 foreclosures in Florida. Here's the figure today:

Fannie Mae Listing Results 1 - 15 of 5,622

Post 2, from February, 2011:

Lee: 873
Collier: 262
Charlotte: 213
Sarasota: 203

the same counties, same site, today:

Lee: 279
Collier: 149
Charlotte: 103
Sarasota: 141

Not only is that number significantly less, but only by having observed listings and prices, and gone to view properties, then and now, can you see that they are not the bargains they were back them, because property values are making a comeback. They are making a comeback now because they are not being weighted down by the foreclosure sale prices of back then.

Then there are the investment consortiums and developers that have bought up a lot of the depressed property that have taken much of the depressed property off the market.

Another thing at work is the willingness of lenders to deal with the present hoemowners, writing down loans, rather than, for instance, foreclosing on $165,000 and netting $10,000 to $20,000. Federal funds are now available to assist in that, but even without the subsidy it makes sense (and dollars).

There's a lot involved, more than one article in the paper. It can be documented by oberving property values, readily available on the Internet on the County appraiser sites. (Like in Post 37)

Also, the mood of the country, as exhibited in consumer spending, travel, and so forth, is much better now than it was at the height of the depths of the Great Recession, although, this being a year divisable by four, there are those who are spending vast sums to disguise that.

What was the question again?

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Here's one of the ones we looked at in January, 2011, that got a contract while we were there, a couple days after we looked at it. For this one and the many thousands more, when the 2012, and subsequent, appraisals get posted, we will be able to see a documented property value recovery, if there is one.

1 /1988 961/318 VACANT $53,800
3 /2003 2190/1391 IMPROVED 00 $99,900
7 /2004 2515/1768 IMPROVED 00 $122,500
1 /2005 2620/559 IMPROVED 00 $145,000
9 /2010 3512/1423 IMPROVED 11 $100
2 /2011 3550/1670 IMPROVED 11 $100
2 /2011 3550/1672 IMPROVED 02 $51,500

[pranas Senior Member Find all posts View Profile Close pranas]

It was not a question but a statement. Many move down here, stay a few years and leave. Only time will tell into which group you will fall.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Many move any place, stay awhile, then move again.

Which has little to do with the topic at hand, which is . . . ?

FL property values do not hinge on how long we live there.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

AND the heat.

Today, from weather.com:

Branson, MO: Day Jun 28 104°F

Sarasota, FL: Day Jun 28 87

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Since I've probably made my point about Florida Heat, this will be my last snipe about it (I will find something else to snipe about ).

The highest high in the 5-day forecast at our Florida place is 92 and the lowest high day in the 5-day forecast at our other place is 102.

Oops, I forgot that.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

it is what you leave out that puts a different light on the situation. For example, it is common knowledeg that banks are holding back on foreclusures, see the link below.

I know there's been a lot of them, and you probably missed:

12-09-2011, 07:35 PM #295

http://www.timeshareforums.com/forum...FL-Area/page30

I knew I had tried to be open-minded, and present all sides, but it took me awhile to find it.

I also noticed I have tried to be open-minded and compassionate about the unfortunate plight of hundreds of thousands of victims of the foreclosure debacle, who woke up one day to discover their homes worth half what they paid for them, and found their lenders to be unwilling to compromise.