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SWFL Foreclosures Jump 400% | National Homes Sales Plummet | How Many Sellers Have Given Up?

Ben Grieco

37,779 views

National New Home Sales dip double digits as Southwest Florida Foreclosures jump 4x, but the devil is in the details and context needs to be considered when reading these headlines.

Meanwhile, many have suspected the only thing propping up the SWFL housing market has been sellers pulling their properties due to unobtainable prices. Now we finally have some national data on just how many owners are delisting, so what does that mean for this area?

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Article Links:
https://www.census.gov/construction/n...
https://seekingalpha.com/news/4636611...
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DISCLAIMER: This Youtube channel is intended for entertainment purposes only. The owner of this channel Ben Grieco, makes no representations as to the accuracy of any information on this site, contained within the video, or available in comments. Ben Grieco is not a licensed financial advisor and the views represented are not financial advice nor legal advice. Please consult a financial or legal professional before investing. The information on this channel does not substitute consultations with local real estate agents, mortgage brokers, insurance brokers, financial advisors, and/or lawyers. The information provided is subject to change. The use of the internet and digital methods for communications with Ben Grieco such as e-mails does not establish a formal business relationship.

20 Comments

@auburnjewels2 1 month ago

Good. A reset is needed. 👍

@Char-s1i 1 month ago (edited)

Texas has huge number of foreclosures inumbers in Dallas and Houston area. Bankers are panicking. Hidden true foreclosure numbers

@kingkobra1956 3 weeks ago

Anybody moving to Florida hasn't done their due diligence and deserves whatever comes their way.

@denniswgjer 1 month ago

anything you sell the gain or loss isn't real till you sell

@KathleenFarinacci-q9u 1 month ago

Do not borrow against the equity of your home!

@sandykish9608 3 weeks ago

Great info Ben-The media totally manipulates the real estate numbers just like they manipulate all the slop they put out..It’s Sad and hysterical actually

@grantwatson06 4 weeks ago

Been my favorite channel on youtube for a bit, thanks for keeping us informed.

@laurawatson9752 3 weeks ago

Thanks Ben. I always appreciate your updates. ❤

@daverave5743 1 month ago

When prices fall 5% I MAY start to be interested. The impatient dummies bought at inflated prices, it's time for the smart, patient people to be rewarded.

@theodoregibbons4615 1 month ago

The irrational emotion of FOMO during the early Covid years created this mess. The FL market will suffer a lot more pain before it stabilizes on a rational basis .

@gdm93si 4 weeks ago

Now we need it to go another 400%. Don’t see how people going to pay for a million loan at 6.5% with $20k in taxes, $20k in insurance , an $60k on a roof because they just bought a house with a 18 year old roof, LMFA off… 80% of those who bought from 2022 to date stop paying those loans,

@llN3M3515ll 1 month ago

Yeah I completely agree, been looking for forclosures to purchase in the cape, and like you said while it maybe going in the direction of more forclosures as a total percentage of all sales it is like nothing. And the forclosures that are coming up are in really rough shape, and even at wholesale don't really interest me.

@blastmasterparker6358 1 month ago

Same as 2008 every home is underwater sheople over paid hi interest mucks up everything

@TheTestimonial 1 month ago (edited)

Smaller homes have been over-valued by a good $100k for nearly a decade. Real estate self-corrects. Home Equity loans are meant for fixing up your home-not buying bs.

@Christy12-23 4 weeks ago

It seems scary to move there even with a mobile home because they are not selling...you live up North get enough to move there pay cash for your house then you you are stuck there and you cannot move anywhere if you had too 💗 OMG you were saying the same thing as I typed lol 😂👍

@xro1983 1 month ago

The wages in SWFL are terrible. People can’t make enough money to pay the bills

@dbrew2u 4 weeks ago

Flippers have primarily Bailed on the Florida Market . While the average American can no longer afford or even qualify for a home there . Yet , the massive growth in Home Construction continues unabated as prices also rise . Florida just doesn't make sense .

@junglevette9886 2 weeks ago

Unfortunately there are delusional people out there still think they have soooo much equity in their home. It is absolutely true you find out how much your home is really worth when you try to sell. With so many people living with the idea that their home is worth so much more than its really worth there is plenty of reckless spending with the idea they have lots of "equity" in their home!!!