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Lee County Florida 2016 REO Sales

This is a small part of the Presentation for the SWFL REIA General Meeting this month.

Complied and analyzed by Jeff Tumbarello, Director

Disclosure:

  • 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

2015 2016
Sales counts 2,361 1,003
Volume $360,347,024 $176,642,462
Avgerage Price $152,625 $176,114
Median Price $127,000 $147,644

The sales counts and volume are down while pricing is up.

Lee County Florida 2016 REO Sales

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.

SWFLREIA General Meeting

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

Click here for a map to the new location

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

372_jt1

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!

Become a member today! Click here for more information.


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!

Click here for membership information

December 2016 Lee County Foreclosure Trend Report

Our monthly installment of the December 2016 Lee County Foreclosure Trend Report

 

Complied and analyzed by Jeff Tumbarello, Director
Trends at a glance:

December 2016 Lee County Foreclosure Trend Report December 2016 Lee County Foreclosure Trend Report December 2016 Lee County Foreclosure Trend Report December 2016 Lee County Foreclosure Trend Report

Lis Pendens:

  • —December 2016: 97 Mortgage related Lis Pendens.
  • —November 2016: 82 Mortgage related Lis Pendens.
  • —December 2015: 108 Mortgage related Lis Pendens.

Certificates of Title:

  • —December 2016: 91 Certificates of Title were conveyed.
  • —November 2016: 116 Certificates of Title were conveyed.
  • —December 2015: 92 Certificates of Title were conveyed.

Get our market updates and meeting notices sent to you!



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***NEW DATE AND LOCATION***

SWFL REIA Luncheon

When: 1/4/17

Topic: Legal Due Diligence For Investing in Mortgages.

Presenter: Bradley W. Butcher

Picture

Bradley W. Butcher was born in Flint, Michigan and grew up on a small family dairy farm. After graduating from Michigan State University in 1995 with a B.A. in Political Science – Prelaw, Bradley enlisted in the United States Air Force.

Bradley W. Butcher served with distinction in the United States Air Force from 1995 through August of 1999. Bradley W. Butcher was assigned to the 97th Intelligence Squadron based at Offut Air Force Base near Omaha, Nebraska. As an Airborne Maintenance Technician flying aboard RC-135 Rivet Joint Aircraft, Bradley served in Iraq after the First Gulf War and during hostilities in Kosovo during 1999.

Bradley W. Butcher was awarded the Aerial Achievement Medal for his service during hostilities.

After leaving the United States Air Force in 1999, Bradley went to the Thomas M. Cooley Law School where he pursued the study of law. Bradley completed an accelerated curriculum and graduated in 2001 Summa Cum Laude (first in his class) with one of the highest GPA’s  in school history.

After graduating law school, Bradley W. Butcher was hired by Sommers Schwartz, P.C. – one of Michigan’s largest law firms. At Sommers Schwartz, Bradley represented employees in a variety of employment matters in both state and federal courts.

In 2005, Bradley W. Butcher, left Sommers Schwartz to enroll in a Master of Laws (LL.M) program offered by the University of Miami in Florida. Bradley pursued a Master of Laws in Real Property Development and graduated in May of 2006. Bradley’s course of study at the University of Miami included advanced studies in: Basic Real Estate Tax, Commercial Leasing, Condominium Law, Construction Law, Current Financing, Design/Construction Contracts, Distressed Property, Real Estate Drafting, Environmental Law, Financial Analysis, Land Security Finance, Planning & Zoning, Project Development, Real Estate Transactions, and Securitization.

Location: Casa Lupita Cafe

Address: 13120 Westlinks Terrace # 10, Fort Myers, FL 33913

Click here for a map 

Time: 11:00 AM to 1:00 PM

From 11:15 to 12:00 there will be time for lunch and networking.

The formal part of the meeting will start at 12:00

For SWFL REIA members your cost is your lunch only.

Non Members are $20.00

Please email jeff@swflreia.com to RSVP


SWFLREIA General Meeting

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

Click here for a map to the new location

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

372_jt1

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!

Become a member today! Click here for more information.


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!

Click here for membership information

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