We often get asked, what will the bank take for that property…..will they accept an offer of 50% of the asking price? Unfortunately the answer is no, banks are not considering those type of low-ball offers. Here are the Fort Myers area market statistics for 2011:
In 2011, 18,634 residential properties sold in Lee County for a total of $2.8B in sales. The average listing price was $163,541 and the average selling price was $153,021. This represents an average selling price to listing price ratio of 94%. This average selling to listing ratio of 94% remains unchanged from 2010 and 2009 in Lee County and is an excellent barometer for buyers to keep in mind when making an offer.
Anyone who tells you that banks are accepting offers at 50% of asking price is just not dealing in reality. If you are interested in finding a discounted home in Southwest Florida, here is a resource to search for Southwest Florida Foreclosures.