Foreclosures in South Florida Are Here For A While

According to RealtyTrac, foreclosure activity in South Florida will continue at high levels through 2010 and there will be a glut of inventory through 2013. In the current market, 60% of active buyers interested in distressed propertys and 40-50% of sales involve a foreclosure or shortsale.

Buying, Selling
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Foreclosure Freeze Already Having an Effect on South Florida

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  In the past two weeks, 1,154 REOs have been cancelled, withdrawn, terminated or temporary taken off the market according to Southeast Florida Shared MLS Database.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, […]

Buying, Foreclosures, Selling
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Foreclosure Freeze: Good For Distressed Owners, Bad for South Florida Real Estate Market

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 […]

Buying, Foreclosures, Investment Real Estate, Selling
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Home Foreclosures Expected to Continue in 2010

The good news is that sales on existing homes, both single family and condos, continue to increase and inventories are decreasing in Miami-Dade county. The bad news is in the foreclosure numbers for 2009.  The numbers include all properties that are in some stage of the foreclosure process. Palm Beach County – 30,870 Broward County […]

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Miami Foreclosures – Down For October But Probably Will Increase

Although the number of homes in foreclosure decreased in October from the same time last year, the overall number of foreclosures are still high and some experts think it will rise.  According to RealtyTrac, there were 7, 741 foreclosures in Miami Dade as of October.  Most of the first round of foreclosures were sub-prime and […]

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