Metas
Where Are The Foreclosures
Many potential buyers in Naples real estate market are looking for possible short sales, pre-foreclosures, or foreclosed properties. Their search begins with reading that the state of Florida is one of the states with the highest number of foreclosures.
Real estate is local and just as it is local, not all localities have a large number of foreclosures.
One well known website as of earlier today shows a total of 174,310 distressed properties (pre-foreclosures and forecloses).
But the question remains where are these distressed properties located. Doing some research by county the following information was obtained:
| County | Number | % of Total |
|---|---|---|
| Miami-Dade (Miami area) | 22,051 | 12.7% |
| Broward (Ft. Lauderdale area) | 19,699 | 11.3% |
| Lee (Ft. Myers area) | 12,758 | 7.3% |
| Palm Beach (West Palm Beach area) | 10,817 | 6.2% |
| Hillsborough (Tampa area) | 10,070 | 5.8% |
| Orange (Orlando area) | 8,319 | 4.8% |
| Pinellas (St. Petersburg area) | 7,003 | 4.0% |
| Duval (Jacksonville area) | 6,439 | 3.7% |
| Charlotte (Port Charlotte-Punta Gorda) | 1,855 | 1.0% |
| SUBTOTALS | 99,011 | 56.8% |
| Collier (Naples area) | 2,373 | 1.4% |
| 57 Other Counties | 72,926 | 41.8% |
| TOTAL | 174,310 | 100.0% |
When looking at the distressed properties in the Collier County or Naples area 1,693 properties are found in the zip codes of 34116, 34117, and 34120 which cover the Golden Gate City and Golden Gate Estates areas.
An interesting statistic from the Sunshine MLS (Naples MLS Bonita Springs MLS and Estero MLS) shows that approximately 34% of the properties purchased from 2003 through 2007 had no financing - the buyers paid cash.
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