September 2019 Lee County Foreclosure Trends

//September 2019 Lee County Foreclosure Trends
  • September 2019 Lee County Foreclosure Trends: Year The Mortgage Was Originated

September 2019 Lee County Foreclosure Trends

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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To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

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