November Market Update: Sarasota Forelcosures

Foreclosure and bank-owned properties continue to be the biggest factor in the price weakness of the Sarasota real estate market. Sales continue to surge, up 36% in October versus the same month last year.  The median sale for condos in October was down 35% from 2008 levels and single family homes were down 12% from October 2008. For more detailed information on the current market, read over the PRWEB Press Release: Sarasota Real Estate Sales Continue Strong Pace

What does all this mean? Properties are selling and they are selling at significant discounts. If you are in the market for a home or condo, head over to the Sarasota foreclosures for sale section of BuySarasota.com. We have information on foreclosure listings in all price ranges and locations. You can even sign up for our Free Foreclosure Alert service that will automatically email you the details when a new listing hits the market that meets your criteria. If you prefer some help you with your search, give the John Allen Team a call direct at 941-544-6467. We have a team of experts ready to help you.

2009 Sarasota Foreclosures Rates Drop

Sarasota County foreclosures rates in September 2009 dropped about 12% vs. the same period in 2008 according to new numbers released yesterday by RealtyTrac.com. A recent Tampa Bay Business Journal article states that foreclosures across the rest of Florida were up 23.3% from a year ago.

We've put together a database of bank-owned properties for those interested in exploring current opportunities. Go to the Sarasota foreclosures section of our website where you can view details on hundreds of foreclosure listings in all price ranges. Give the John Allen Team a call direct at 941-544-6467 if you would like help with your search or the buying process.

Article States that Foreclosure Deals are Disappearing

I Just read an interesting foreclosure article that talks about the competition for foreclosure bargains. Read the article here - Foreclosure Bargains Are Disappearing. There is a great selection of inventory in Sarasota now and interest rates are still at historically low levels.

If you are in the market for home or condo in our area, check out our Sarasota foreclosures section where you can search current listings. We also have a slick feature that will email you updates on new foreclosure listings as soon as they hit the market. Check out our Free Sarasota Foreclosure Email Alerts tool. Feel free to contact us anytime to help you start you search.

Sarasota Foreclosure Rates

According to data recently released by RealtyTrac, the Sarasota foreclosure rate has dropped for the first 6 months of the year compared with 2008 numbers. Sarasota foreclosure rates dropped about 5 percent to 5,787 units. Nationwide, foreclosure rates are up nearly 15 percent compared to 2008. This data seems to indicate that the Sarasota area is staring the recovery process ahead of many other areas. We are not out of the woods yet, but we are making progress.

If you are in the market for a bank-owned property, head over to our Sarasota foreclosures for sale section where you can search active listings. We also have a section for Siesta Key foreclosures and Longboat Key foreclosures. Feel free to contact us with any specific questions.

Sarasota, Florida Foreclosures

According to the Center for Responsible Lending, a nonprofit research and policy organization dedicated to preserving homeownership, there has been 1 million new foreclosures filed in 2009. That is 6500 per day or 1 every 13 Seconds. Of those 1 million foreclosures, 181,654 or 18.17% have been in Florida. The state is projected to have 423,700 by the end on 2009.

Foreclosure listing offer an opportunity to purchase real estate a significant discounts. If you are in the market for a home or condo in the Sarasota area and are qualified to make a purchase, now could not be a better time to buy. We offer several valuable resources to help buyers research Sarasota area bank-owned properties currently available. Visit BuySarasota.com to search Sarasota foreclosures for sale. Our database is updated daily with new listings. In addition, we also offer Free Sarasota Foreclosure Email Alerts. Our system will email you new foreclosure listings that meet your criteria as soon as they hit the market.

Interest on Sarasota Foreclosures on the Rise

Internet consumers appear to be more interested in Sarasota foreclosure listings. We have seen a dramatic increase in Internet traffic for consumers seeking real estate foreclosures. In fact, consumers all over the country are more willing to buy foreclosure properties according to a new study done by Harris Interactive for Trulia.com and RealtyTrac.com. The study said 55 percent of US adults said they are likely to consider buying a foreclosure home in the future.

Banks are starting to streamline the process of buying foreclosures and short sales. The United States Treasury Departments announced that it was increasing the incentive for lenders to work out short sale deals. This has resulted in lenders like Bank of America loosening its policies on short sales.

If you are considering a purchase, browse listing and learn more about Sarasota foreclosures for sale at BuySarasota.com. Keep in mind that there are aggressively priced properties available through private owners as well. We can help you evaluate all of the options.

Welcome to Sarasota Foreclosure News

Welcome to our Sarasota Florida Foreclosures Blog. We'll be updating this blog regularly with news and information on purchasing bank-owned properties in Sarasota FL. Check back often.