Posted on Monday, October 15, 2012
Good news on the lower foreclosure volumes this past week. (CNNMoney) reported
http://money.cnn.com/2012/10/11/real_estate/foreclosures/index.html?iid=HP_LN “– The wave of foreclosures hitting the nation’s housing market has been much less severe than anticipated, with foreclosure filings at their lowest level in five years last month, according to a report out Thursday.”
Our hearts go out to the many, many people and families who lost their homes to foreclosure in the last several years. A very rough time for many people. Hopefully these dark times are moving behind us.
But what about inventory? Are the reduced foreclosure volumes benefiting the supply-demand balance in our locate markets? After all overall supply and demand has a considerable impact on price behavior. A look this morning in the Sunshine MLS shows 7.01 months of supply in the “All Naples Area” Good news and trending toward the six month level we like to see.
So what? Well for buyers there will be fewer properties to chose from. We are close to dropping below 5,000 properties for sale. Buyers may even see competitive bids for their favorite property. Sellers may feel things are going in their favor but there is still a lot of caution in the air ahead of the elections and the national fiscal cliff discussion. Nonetheless well priced properties in good condition should have a better chance of selling in this market.
Follow along with us on National And Naples Florida real estate and register at NaplesBestAddresses.com and subscribing to our YouTube channel at http://www.youtube.com/user/naplesbestaddresses?feature=results_main. Contact us at 239.595.3921.
All the best
No legal, investment, or tax advice is being given in this Blog. Consult with legal, financial and tax professionals before acting on any real estate transaction. Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.
Some of the data relating to real estate for sale on the NaplesBestAddresses.com website comes in part from the Broker reciprocity program of M.L.S. of Naples, Inc. The properties displayed here may not be all the properties available through the MLS reciprocity Program. This information is deemed reliable but is not guaranteed. Buyers and sellers are responsible for verifying all information about their purchase prior to closing.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
Mark Goebel, PA REALTOR Coldwell Banker 5th Avenue South Mobile: 239.595.3921 NaplesBestAddresses.com Facebook: NaplesBestAddresses Youtube http://www.youtube.com/user/naplesbestaddresses?feature=results_main