One of the greater Fort Myers area real estate statistics that I monitor is the ratio of selling price to listing price.
We are currently experiencing very high selling price to listing price ratios, currently at 96% over the last 30 days for residential sales in Lee County. This SP-LP ratio is up from 90% at the end of last year.
As the majority of our closings are distressed/REO properties listed at discounted prices, the banks are getting very close to asking prices or higher right now. We have been involved with multiple transactions in the last week where it took an over full price, cash, contingency-free offer to win the deal. These transactions have all been starter home/condo, foreclosure listings.
Complete inventories of Estero foreclosure listings, Fort Myers foreclosure listings and Cape Coral foreclosure listings are available on our site. Our team has deep experience working with buyers of these distressed properties.
If you enjoyed this article, please consider sharing it!
That is a good indicator for markets trying to turn. The volume in Florida has pick up and the Sellers are dropping into the bids. But, more importantly the buyers are taking the trade. In the decline phase the buyers stay very low under and pull back. Now, they are in the game.
Does one have to pay cash for a short sale or are they able to get a mortgage as well?
Short sales can be financed like a regular purchase. It is critical to be pre-qualified prior to submitting an offer.