Sarasota, Florida. The Herald Tribune reports today that there were 7,410 foreclosure filings during the last 12 months ended July 31st, 2008 in Sarasota County, Florida. Twenty five different mortgage companies hold the most properties in foreclosure in Sarasota County. If a property owner fails to pay the mortgage for three consecutive months and does not communicate with the mortgage holder about their intentions, the mortgage holder will file a “lis pendens” which is the first step in the foreclosure process.
The number of bank owned properties (REO’s) sold during that 12 month time frame is 918. The majority of those properties have sold with very deep discounts up to 44% from the price paid during the housing boom.
Clearly, many great financial opportunities to purchase in Sarasota exist and now is the time to buy them. Like my grandfather once told me, ”You want to buy low and sell high”. Let us help you find that property.
Tags: Florida Forclosures, Foreclosure Opportunities, Sarasota County Foreclosure News, Sarasota Florida Real Estate News
