WOW
Despite 117 SFR currently on the market offered in some stage in Foreclosre, for the entire month of may only 3 actually closed
Condo's only have 88 on the market disclosing the foreclosure, but I suspect the number is higher, much higher. However, in May NO Condos in foreclosure sold
and as for the Mobile homes. only 1 of them is listed as for sale but in foreclosure, and one actually sold in may while in some stage of foreclosure.
I thought alot more short sales and the like were taking place, but i guess they are falling apart before reaching the closing table. Streamlining of the deal is most definitely in order. It's not like this is new, the Lenders should be much more efficient than they are.
Now for Bank owned properties, this actually surprised me:
of 533 active homes, only 18 are bank owned (3.3% of all actives)
however, of the 112 homes under contract, 21 are bank owned (19% of all contracts)
of the 45 homes that closed in May, 13 were Bank owned (28% of all closed)
That is quite a dsparity in the numbers, and the Short Sales falling apart before closing, I think, have alot to do with it.
Now for Condos, their are only 83 units in Hudson, of which, NONE are Bank Owned. nor are any of the units under contract, or any of the condos that sold in teh month of may. That is quite the surprise for me.
Mobile Homes was almost as negligible. 3 active bank owned properties, out of 66, and only 1 of the 5 that sold were Gank owned. However it does mean that 4/5 mobiles sold in Hudson, in May were either in some stage of foreclosure, or Bank Owned.
I think what this all boils down to, is that a Buyer can once again afford to buy a modest home in hudson, so why would they settle for the percieved stigma of a Mobile, or the perceived instrusive associations at a Condo. Once again, in Florida, if you can afford to rent, you can afford to buy
You actually can buy a house here for $45,000. Now even at a 7% interest rate, that is only ~$300/mo Principle and interest. The utitlities will remain the same as renting, for the most part, and insurance on a house valued at so little would be a nominal cost.
it is a great time to be a buyer in the Hudson, Florida, as well as the rest of West Pasco, and Florida as a whole
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