Shadow inventory is basically the number of properties that are projected to hit the market due to distressed owners, those who are behind 90 days or more on their mortgage,  or because they will be or already have been taken back by the bank.  There has been a lot of speculation lately about how this […]

How can it be both the right time to sell and the right time to buy?  Usually, if it is a seller’s market, prices are high and inventory is low.  If it is a buyer’s market, it is the other way around.  We currently have enough overall inventory of single family and condos in South […]

As of December 2010 REO Homes were 12% of Total Inventory and 41% of Total Sales Single family home Short Sales were 32% of Total Inventory and 19% of Total Sales REO Condos were 9% of Total Inventory and 46% of Total Sales Condo Short Sales were 32% of Total Inventory 22% of Total Sales

Even though several large banks froze their foreclosure process in September, there are still plenty of foreclosures coming on the market in Miami. There are currently 827 single family homes that are listed as REO on the MLS.  423 of them were listed since October 1. There are 1116 condos listed as REO.  640 of […]

Okay, so the Miami Heat have won two in a row after their disappointing loss in Boston.  With so much fanfare around the  team, condos in the immediate area have decided to latch on to the Heat as a way to increase sales in buildings that are currently mostly occupied by renters.  Other than the […]

The Miami Realtors Association is already seeing the effects of the current decision by several banks to put a moratorium on foreclosures.  In the past two weeks, 1,154 REOs have been cancelled, withdrawn, terminated or temporary taken off the market according to Southeast Florida Shared MLS Database.  In the two-week period immediately preceeding the announcement, […]

The recent decision by some banks to freeze their foreclosure process while they investigate their procedures for handling foreclosures has a mixed effect on South Florida’s real estate market.  While it may be a good thing for distressed owners who really want to keep their homes, it is probably not a great thing for current […]

If you read the papers, listens to the news, or talk to friends, neighbors and acquaintences about the real estate market, you could be very confused as to what is “real” about it. Foreclosures and short sales are still high. Unemployment is still high and actually rose more vs. high and dropping. Inventory is still […]