As a Realtor and Certified Distressed Property Expert (CDPE), I am interested in the trends in short sales and other forms of distressed property sales, such as foreclosures, in the South Florida market I serve. The government's guidelines seemed to simplify the process, and as a result, increased the number of short sales in South Florida during 2010.
Other factors are at play for this phenominon as well. They include buyers steering clear of foreclosures recently as a result of the foreclosure freeze that started in the fall of 2010. The idea being that if the purchaser started the process, they might not complete it because of the of possible wrong-doing in obtaining the foreclosed property by the lender.
Lenders are also warming up to short sales as they can expedite the time of property disposal as well as tending to get a higher price when compared with foreclosed homes.
With four-in-ten(about 40%) of South Florida homes owing more on the mortgage than the worth of the home, according to Zillow, short sales seem like they are here to stay for a while. In a short sale, the owner sells the home and the lender forgives the difference between the sales price and mortgage.
As a local Relator and Certified Distressed Property Expert (CDPE), I can help those who are "underwater" and considering a short sale. Please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-989-2100
http://michaelfriedman.rmlsfl.mlxchange.com/?Page=7395217 <--property search link to cut and paste into your Web browser
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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