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 RE: market conditions/ft. myers fL.

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Date: June 2, 2011, Number of Replies: 6

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What are the market conditions in Ft. Myers Fl. I am seeing prices starting to rise..Are they going to dip again in Dec.? Activity is strong!!
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Tish Osborne Licensed Real Estate Agent,  New Port Richey,  FL

Date: June 18, 2012

"Since peaking at 2.1 million units in January 2010, the shadow inventory has fallen by 28 percent. The decline in the shadow inventory is a positive development because it removes some of the downward pressure on house prices. This is one of the reasons why some markets that were formerly identified as deeply distressed, like Arizona, California and Nevada, are now experiencing price increases."

That's according to Mark Fleming, chief economist at CoreLogic. Says the inventory is the lowest since last quarter of 2008.


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Robert King Licensed Real Estate Broker,  Saint Petersburg,  FL

Date: June 20, 2012

Don't ya just love it? "Since peaking at 2.1 million units in January 2010, the shadow inventory has fallen by 28 percent. How in the world do you know what the Shadow Inventory IS? The great dilemma is We Don't Know and we don't know how much yet!!!
Who is CoreLogic? Just another expert telling us what ever we want to hear. I doubt anybody knows even the servicers don't know how much underwater we are. How many delinquent 30-60-90 days behind in mortgage payment properties are REALLY OUT THERE? There's your REAL SHADOW INVENTORY. It hasn't been foreclosed or short sold yet!
Robert L. King
Saint Petersburg, Florida
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Denise Dauphinais Licensed Real Estate Broker,  Danville,  CA

Date: June 20, 2012

We don't even know what shadow inventory means let alone know how many properties are in real estate purgatory waiting to be sold, modified, or short saled or auctioned off. Realtors get data from so many sources these days it is impossible to really know what is going on other than the market is slowly improving in some markets due to low interest rates and lower prices. The affordability index is supposedly the best it has ever been since the experts started keeping track. People have to live somewhere and for the most part, Americans like to own their own homes. I'm not terribly encouraged when I keep reading about all the billions that have been pumped into the market by the government, and now I hear that in some cases Bank of America is giving people up to $30,000 to move or do something. If they are handing out money, where is mine?
Denise Dauphinais
Better Homes & Gardens Real Estate/Mason-McDuffie
Danville, Ca 94526
"Your Real Estate Resource"
RE Broker, GRI, e-PRO, SFR
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Tish Osborne Licensed Real Estate Agent,  New Port Richey,  FL

Date: June 22, 2012

I think you had the definition of "shadow inventory" right there, Denise. Homes in some sort of default, soon to face foreclosure, short sale or auction. Bloomberg says foreclosures will be up 4.5 million this year.

In 2011, the number went down because the process was being investigated for robo-signing and stuff like that. Lots of lawyers getting into the process here in Florida. Even the state is taking a cut when the foreclosures are sold.

As for the government pumping money into the system, Bush gave FM/FM $440 billion in 2002 to free up more money for lenders. The lenders then sold them back millions and millions of fraudulently rated AAA loans.

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Sue Kiene Real Estate ,  Temperance,  MI

Date: June 22, 2012

Realistically your money, it is in the pockets of the government and big business that all got bailed out. Think about it. Who will be paying for that? Where is that money coming from? You and me and every tax payer out there. $30000 to move? Hmmmm how many CFK have I done for under $3000. That is what a CFK is. An incentive to move. People who have been responsible and paid their mortgages have been screwed. I understand that people have lost jobs etc. but be responsible. This is a me, me, me society. I want it and I want it now. Get real people.

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Date: June 23, 2012

I think you are right. Who knows?
I just heard a speech by Alan Nevin, who said we had 3.5 months of shadow inventory on the market today in San Diego?
Is he right? Inventory is certainly limited and only 8 properties on the HUD list today, 6/23/12. Are more foreclosures really coming????
Jody Hood Real Estate
Tel: 760-942-9224
Cel: 760-533-0422
Fax: 760-942-0014
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