November 2019 Lee County Foreclosure Trends Report

November 2019 Lee County Foreclosure Trends Report

Year Mortgage Originated	Average Complaint Amount
2004	$255,626
2005	$313,830
2006	$108,070
2007	$79,266
2008	N/A
2009	$47,444
2010	$200,279
2011	N/A
2012	$89,862
2013	$202,494
2014	$347,638
2015	$172,739
2016	$225,493
2017	$155,422
2018	$127,910
2019	$155,422

 

Notes:

• November 2019 is more of the same in relation to the foreclosure trend.
• 6 of the foreclosure filings appear to be a result of the Bertram Versus US bank decision due to the date of the last payment. That explains the increase from last month.
• 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 institutional 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. This is why the vintage of 2016 through 2018 has as many foreclosures. They can not trade out unless they had a larger down payment.

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.

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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 it does 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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