Fewer Foreclosures and Shortsales on Pine Island in 2011 In 2011, 13% of all home sales on Pine Island were foreclosures, and 10% of all home sales were short sales, so 23% of all island residential properties sold in the past year were distressed sales. While that number is high, it is lower than in 2010, when 33% of sales were either foreclosures or short sales. So, distress sales dropped by 33% in 2011. There should be fewer distress sales in 2012, because only 23 distress sales, or 8 percent of the residential market, are now actively listed for sale in the MLS. Slowly but surely, the Pine Island market seems to be recovering. There were 5 closed sales so far in 2012, including this cute bayfront cottage (which was not a distress sale) but was deeply discounted...the asking price was $299,000, the selling price was $229,000.
I am certified as a short sale and foreclosure resource by the National Association of Realtors. To contact me, Erika Foye, Real Estate Broker for All Island Realty, Inc., based in beautiful Bokeelia, email me at erikafoye@embarqmail.com. I'd be glad to assist you in your Pine Island real estate search.
