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October 2019 Lee County Foreclosure Trends Report

October 2019 Lee County Foreclosure Trends Report

Where does the October 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.

October 2019 Lee County Foreclosure: Trends At A Glance

Lis Pendens:

  • October 2019: 86 Mortgage related Lis Pendens
  • September 2019: 68 Mortgage related Lis Pendens.
  • October 2018: 91 Mortgage related Lis Pendens.

Certificates of Title:

  • October 2019: 66 Mortgage related Lis Pendens
  • September 2019: 33 Certificates of Title were conveyed.
  • October 2018: 68 Certificates of Title were conveyed.

October 2019 Lee County Foreclosure: Foreclosures by the Year Originated

October 2019 Lee County Foreclosure: Foreclosures by the Year Originated

Average Last Payment Date

 Year Mortgage Originated Average Last payment date
2002 4/14/2017
2003 5/15/2003
2004 1/5/2013
2005 10/25/2011
2006 10/29/2010
2007 2/15/2011
2008 2/26/2017
2009 N/A
2010 9/1/2017
2011 9/1/2017
2012 12/31/2017
2013 2/1/2015
2014 2/1/2019
2015 3/31/2019
2016 11/15/2018
2017 12/22/2018
2018 2/9/2019

 Average Complaint Amount By Year Originated

 Year Mortgage Originated Average Complaint Amount
2002 $304,466
2003 $86,106
2004 $114,628
2005 $151,345
2006 $189,385
2007 $247,388
2008 $329,272
2009 $0
2010 $83,947
2011 $49,978
2012 $120,080
2013 $31,786
2014 $159,901
2015 $108,070
2016 $128,271
2017 $172,384
2018 $163,150

Stop making excuses — just get out and do it!

See you at a meeting soon!

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.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

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.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

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.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.


What You Need to Know About the Art of the Quick Flip

 A quick flip on a home can be a great way to make a quick profit from a real estate investment. However, you can’t simply buy the first home that you see and expect to sell it for more money a few weeks later. Let’s take a look at what you’ll need to do to flip houses fast and successfully.

Art of the Quick Flip: Have Processes in Place

Ideally, you should have a system that allows you to identify homes that are worth investing in. This system should then allow you to make repairs or other upgrades in a matter of days or weeks. For instance, have a contractor come to the house as soon as you buy it to create a rehab plan. From there, a team of painters, roofers or other professionals should be at the property within hours to begin executing that plan. Having a plan can reduce the amount of time it takes to get the house ready for sale, which can reduce the overall cost of the flip.

Art of the Quick Flip: Target the Right Homes

To most real estate investors, the goal of a flip is to sell it quickly and with as little work as possible. Fortunately, some homes don’t even need any upgrades before they can sell, but you should never assume that a home is in good condition before you get a chance to see it. This is why it may be best to buy homes that you can inspect before putting money down on them. The best homes to flip are usually those that are priced below market value and located in areas where people are most willing to pay your preferred list price.

Art of the Quick Flip: Know What the Right Deal Looks Like

It is important that you know what a home is worth before you put in an offer to buy it. Usually, homes will be priced close to what others in the area have sold for in the past three to six months. Knowing what a home’s reasonable market value is can help you determine whether an offer is worth accepting. Ultimately, this can help you complete a flip quickly with the confidence that you made a large enough profit on the transaction.

While flipping homes successfully can be a challenge, there are steps that you can take to increase your odds of doing it correctly. Generally speaking, beginning home flippers may benefit from seeking the help of a mentor or investing group as they hone their process.

See you at a meeting soon!

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 agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

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.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

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.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.



Challenges Young Buyers Are Facing in the Housing Market

It can be difficult to purchase a home when you are a young buyer who is new to the process. In fact, there are specific challenges that young buyers face, and it’s important to know what they are so you can guard against them when possible.

Challenges Young Buyers Are Facing: Credit Restrictions

You may not have a long credit report, and you probably think that’s a good thing. It means you haven’t borrowed a lot of money. While that is good news, not having any credit when you try to buy a home creates a problem. Bad credit lowers your credit score, but so does no credit. In Charge explains that having invisible credit is often treated the same as a bad credit score. When lenders have no evidence that you have paid off companies you owed in the past, they likely won’t be able to give you a good mortgage rate. You want to have a record of established good credit before you try to purchase a house.

Challenges Young Buyers Are Facing: Student Loan Debt

Student loan debt will likely follow you for at least a couple of decades of your post-college life. While this means you will have an opportunity to add something to your credit report, it also signifies that a large amount that you owe will be staring lenders in the face when they are trying to decide whether to loan you more money. 

According to Kathy Fobian, lenders are slowly waking up to the reality of student loan debt and offering better rates so that more people can afford their way into the market. However, you can expect a large amount of student loan debt to be a possible barrier to either receiving a mortgage loan or being offered a decent rate.

Down Payment Problems: Challenges Young Buyers Are Facing

The process for obtaining a mortgage loan can be pretty strict, and a down payment is often required. Though the down payment may not have to be a full 6% to 10% of the home’s price, saving less than that can be a challenge when home prices are high. Young buyers who are just getting established at a job may not be pulling in the income to put money back for a down payment. Novi suggests creating an emergency savings fund is created prior to saving up for a downpayment. This means relying on some sort of windfall to have enough money to even start the house-buying process.

Homeownership is not impossible for young buyers, but it does come with unique challenges. Learn everything you can before you start the purchasing process to have the best chance of being successful.

Here’s another article you might enjoy: What to Know About Choosing Solar Power for Your New Home

 

See you at a meeting soon!

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 agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

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.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

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.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.



How Real Estate Investors Can Leverage Amazon for Profitability

In this edition of ReiaCast we discuss how real estate investors can leverage Amazon for profitability. Flipping homes can be a great real estate investment strategy, as long as you don’t overspend when renovating your property. Many investors get into trouble during the renovation process, cutting into and sometimes even eliminating their profit margin.

We interviewed SWFL REIA member Paul Dworianyn, Founder of Awesome Dynamic

 

Shopping around for quality, but affordable services can help pare down your costs, but it’s usually the little things that stack up. A few air filters here, a dozen new doorknobs, boxes of lightswitch covers, etc.

There are so many small expenses you’ll need to pay for when flipping your property, that you’ll want to make sure you’re saving as much money as possible on each purchase. How can you do that? Simple — Amazon.

Amazon has really exploded in the past few years, bringing more affordable products right to your doorstep. Why not take advantage of these low prices and delivery services to renovate your investment property as inexpensively as possible?

Leverage Amazon for Profitability: Get materials cheaper and delivered

In fact, you can find more materials for your rehab project on Amazon than you might expect. Amazon actually has an expansive line of construction materials, ranging from tools and construction vests to caulk and tarps. You can find the majority of the tools and devices you need to renovate your property entirely online through Amazon.

Leverage Amazon for Profitability: You can order large specialty items

Amazon also carries specialty items you might not think to look for online, like shower doors, vinyl floor tile, laminate flooring, and even home appliances like over the range microwaves. You can easily compare prices online, but chances are, you’ll find a more affordable version on Amazon. Since Amazon delivers, you won’t need to drive to numerous stores and lug back heavy items multiple times a day.

Leverage Amazon for Profitability: You will need to be proactive

The only downside to using Amazon when flipping your property is that you’ll need to prepare a list of what’s needed ahead of time since delivery typically takes two days. In some cases though, you can receive the next day or even same-day delivery. Planning ahead isn’t a complete drawback though since it can help you budget better and stay on track of your project’s timeline.

 

It’s important not to overspend during your renovation, but you also need to make sure your property looks as appealing as possible to buyers. Get the best of both worlds by using Amazon to help deliver the bulk of your renovation products, right to the construction site. Your buyers will love the way their new home looks, and you’ll love pocketing even more profit.

 

See you at a meeting soon!

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 agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

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.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

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.

We look forward to meeting you at a meeting soon!
Click here for membership information

Get our meeting notices and market data emailed to you.



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