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Florida's Chief Financial Officer Alex Sink reports that property and cash valued at more than one hundred seventy million dollars is being held unclaimed and waiting for the true owners. She has set up a website where you can look to see if you have any assets which you need to claim before the State auctions the assets later this month!!! If you reside or ever have resided in Florida it is worth a couple of minutes to check and is very easy to do.

Just click the link below:

http://www.fltreasurehunt.org

Buyers remained rabid in Ft. Myers, bidding up prices in order to snap up low end homes. Our traffic index fell to 72 in September from 82 in August, but this still indicates strong levels of demand (readings above 50 point to traffic above agents’ expectations) and this was the highest reading of any market surveyed this month. Agents indicated buyers have a growing sense that the bottom is here or very near and want to get in before prices increase.

Agents continued to note tough competition at the low end, with one commenting, “72% of our deals have multiple offers over list price, and most buyers start their offer over list price.” This is quite a sharp change in tone from the downward spiral experienced throughout most of the past three plus years, but prices have fallen so sharply that the affordability is very compelling. The most challenging aspects of the market appear to be getting a good appraisal and qualifying for a loan, but most foreclosure-buyers are investors paying cash so this is not an issue on those homes.

Agents said prices were stable again in September, marking the fourth consecutive month of stable or higher prices. Our home price index improved to 54 from 50, consistent with a neutral reading.This should encourage more buyers to get off the fence by giving them confidence in their investment.

However, agents did note that the stable pricing is occurring primarily at the low end and that higher end homes are still falling in value. Healthy demand led to lower inventory levels again in September, as our home listings index measured 72 (down from 78 but well above a neutral reading of 50). These are positive indicators, but the key will be continuing to make progress on inventory levels, especially as foreclosures continue to come to market."

This report is very useful for planning for our local buyers and sellers and, though not my words, it reflects the state of our local market into October!  If you would like a copy of the complete September report on the area please email me jerry@765LIST.com  and I will be happy to send it to you. 

Everyone has been crying for 4 years how much they have lost in the real estate market and now in the stock market.  The best way to recover is to buy in when the prices are low! Fence sitters beware: I always say: "You make your profit when you buy not when you sell!"  

What are you doing this Fall?