This is a small part of the Presentation for the SWFL REIA General Meeting this month.
Complied and analyzed by Jeff Tumbarello, Director
- This is my work done for me and shared with you.
- All data exported from MLS and trended with Excel.
- Data exported 1/11/2017 at 12:56
What is an REO? REO is an acronym for Real Estate Owned and is industry jargon for foreclosure property repossessed by banks or lenders. One reason investors pursue REO properties is that the bank has to sell the property, so you have the potential to get a below market deal. Unlike buying at foreclosure auctions, the properties are easy to access, and often vacant(unless their are tenants), so it makes viewing them easier. One thing to remember about buying REO’s, the process can be frustrating. Banks may not respond quickly to offers.
The big picture for Lee County Florida 2016 REO Sales
The sales counts and volume are down while pricing is up.
The bubble chart clearly shows where the market has changed in the lower end. That is the end that investors tend to do the most of their work.
A few thought on Lee County Florida 2016 REO Sales:
This is an amazing opportunity.
- There is a large demand for investor quality deals and few deals to be had.
- The institutionalized distressed market in and of itself is a bit of a closed society. When this part of the distressed market losses its market share it creates opportunities.
We have outgrown the previous facility and will enjoy the new space!
Wednesday 1/18/2017, 6:00 PM
LOCATED AT:1400 Colonial Blvd Suite 48, Fort Myers, FL 33907
Topic: 2016 Market Trends Update.
Some of what we will cover:
- Pricing Trends.
- Volume Trends.
- City Specific Trends.
- Where are the bubbles of activity?
Presenter: Jeff Tumbarello, Director SWFL REIA and Broker Steelbridge Realty LLC
I have worked with the following media outlets as a subject matter expert. (General Real Estate, Real Estate Statistics, Real Estate Investing & Foreclosures): NPR, Bloomberg, Huffington Post, Wall Street Journal, NBC, ABC, Wink, Fox, Fort Myers News Press, Naples Daily News, Fort Myers Weekly, and Gulf Coast Business Journal.
I am the local expert and source of data for the current trends in foreclosures. I also have performed market metrics and product modeling for the capital markets and several private equity firms. I also was a Trainer/Speaker for the Florida Housing Coalition.
Schedule of events for the SWFL REIA General Meeting
6:00 Doors Open/Networking
6:30 Program Begins with a Mastermind Session
6:45 Featured Speaker begins.
SWFL REIA Members are free, all others pay $20.00 at the door!
The SWFL REIA is the premier source for Real Estate Investing education and networking.
The SWFL REIA is different in the Real Estate Investing world in that we do not do information product sales. Our content rich meetings focus on Real Estate Investing via collaboration with like-minded Real Estate Investors sharing their own experiences.
The SWFL REIA is on the cutting edge of data gathering and analysis of the housing market and foreclosures. Our Analysis and Trend reporting has made the SWFL REIA an expert source for the media and set standards by which the housing market is analyzed and trended within the industry.
Our members are Real Estate Investors, Real Estate Agents, Title Agents, Insurance Agents, Landlords, Property Managers, Wholesalers, Rehabbers, Note Buyers, Hedge Fund Managers, Bulk Asset Purchasers, Foreclosure and Probate Investors. Come and network!
Our Motto: Knowledge withheld is Knowledge wasted.
The number one key to being successful in real estate investing is?
To understand what you are there to do!
From our experience, this is the most critical phase. If you have a clear plan it is easier to deploy capital while still operating within a margin of safety.
The SWFL REIA is the premier place to understand what you are here to do, in relation to real estate investing! We look forward to meeting you at a meeting soon!