This past weekend I was out with clients to view a short sale. In our travels, we came across a home with a sign out front that indicated it was a foreclosure. The client said he was interested "in one of those" as he pointed at the sign. The short sale listing was fine also, he said. He indicated the bank knows it would be a foreclosure soon. His rationale was the lender would be willing to negotiate as though it was indeed already in foreclosure.
With nearly one out of evey four foreclosed properties in the nation, Florida has the nation’s highest inventory of homes in distress, according to data recently released by the Mortgage Bankers Association. “More than 20 percent of all loans in Florida are somewhere past due or somewhere in foreclosure,” said Mike Fratantoni, vice president of the MBA.
What does that mean for those looking to get a "good deal"? I guess, there's no need to look beyond Florida. With the "Baby Boomers" nearing retirement age and the current "buyer's market," we think those seeking a second home or a retirement home will be attracted to Florida.
As a Realtor and Certified Distressed Property Expert, I am uniquely qualified in distressed properties (i.e., short sales and foreclosures). If you are thinking of selling or buying a home, 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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