September 2019 Lee County Foreclosure Trends Report
Where does the September 2019 Lee County Foreclosure Trends Report come from?
We download from public records and trend the data with Microsoft Excel. We have been doing this since 2007. This report has value because it is a leading indicator of bank-owned homes coming to the market.
Compiled and analyzed by Jeff Tumbarello.
Lis Pendens:
- September 2019: 68 Mortgage related Lis Pendens.
- August 2019: 89 Mortgage related Lis Pendens.
- September 2018: 79 Mortgage related Lis Pendens.
Certificates of Title:
- September 2019: 33 Certificates of Title were conveyed.
- August 2019: 53 Certificates of Title were conveyed.
- September 2018: 49 Certificates of Title were conveyed.
September 2019 Lee County Foreclosure Trends: Average date of the last payment by year.
|
2004 |
10/23/2018 |
|
2005 |
11/13/2015 |
| 2006 |
3/21/2016 |
|
2007 |
11/15/2018 |
| 2008 |
11/15/2018 |
|
2009 |
N/A |
| 2010 |
N/A |
|
2011 |
6/8/2019 |
| 2012 |
11/1/2017 |
|
2013 |
1/30/2019 |
| 2014 |
3/1/2019 |
|
2015 |
3/1/2019 |
| 2016 |
1/19/2019 |
|
2017 |
12/21/2018 |
| 2018 |
1/26/2019 |
September 2019 Lee County Foreclosure Trends: Average complaint amount by year.
|
2004 |
$68,493 |
| 2005 |
$231,572 |
|
2006 |
$175,568 |
| 2007 |
$237,889 |
|
2008 |
$162,078 |
| 2009 |
N/A |
|
2010 |
N/A |
| 2011 |
$53,471 |
|
2012 |
$98,620 |
| 2013 |
$245,733 |
|
2014 |
$262,100 |
| 2015 |
$178,157 |
|
2016 |
$184,547 |
| 2017 |
$161,203 |
|
2018 |
$245,783 |
Final Notes.
- Essentially September 2019 is more of the same in relation to the foreclosure trend.
- None of the foreclosure filings appear to be a result of the Bertram Versus US bank decision due to the date of the last payment.
- The lack of Certificate of Title Growth in relation to the Lis Pendens filings shows that the market has improved to the point if you go into default. You can trade out.
- The intuitional distressed market will continue to not be a primary driver.
- Most of the foreclosures appear to be smaller loan amounts. There is significant demand within those price points.
- Appreciation has slowed down since 2016. Which is why the vintage of 2016 through 2018 has as many foreclosures. They can not trade out unless they had a large down payment.
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The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agents, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.
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One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.
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