We're number one-- in foreclosures for 2012. Nevada was number one for a while, but Florida has surpassed the state in 2012 (it was #2 in the nation), according to the Sun-Sentinel.
Apparently when lenders resumed foreclosure filings after the paperwork errors, also referred to as "Robo-Signing," it helped to push up the number of foreclosures in the state.
Nonetheless, RealtyTrac, a real estate consulting firm, states the foreclosure problem seems to be winding down and is "comfortably past the peak."
One in 32 homes in Florida received a foreclosure filing in 2012, according to the Sun-Sentinel. The paper reports both Palm Beach and Broward counties had one in 31 homes in some form of foreclosure during 2012.
Many industry experts believe the South Florida market is primed for recovery. My broker, Scott Agran, was quoted as saying, "I feel like we have definitely moved beyond more problems or more surprises in the marketplace."
Should the market continue to improve, it might be a good time to buy or sell your home. Contact me so we can work through your individual situation.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
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
Friday, January 18, 2013
Shadow Inventory of Foreclosures Not As Bad As Once Feared?: Homes For Sale: Homes For Rent
Those who have been avid readers of my blog know I am concerned about the potential for a new round of foreclosures putting a damper on the recovering South Florida and national housing market.
One must continually research the inputs of these theories in order to validate or formulate a new prediction of the future. In that regard, CoreLogic, a real estate consulting firm, said it believes the threat from "shadow inventory" is receding.
Shadow inventory refers to homes that are in foreclosure or are in the foreclosure process. Should a lot of new foreclosure hit the market, it might counter-balance the supply of homes and put pressure on prices.
Two reasons cited is the increase in short sales (see articles on this subject on this blog) and loan modifications have helped improve the situation. Also, investors have been snapping up existing foreclosed properties, which has helped balance the supply and demand in the marketplace.
Corelogic reported the "shadow inventory" dropped to 2.3 million in October 2012, from 2.6 million a year ago. Should we continue to see a decline in potential foreclosures, I think it bodes well for the housing market in general.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
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
One must continually research the inputs of these theories in order to validate or formulate a new prediction of the future. In that regard, CoreLogic, a real estate consulting firm, said it believes the threat from "shadow inventory" is receding.
Shadow inventory refers to homes that are in foreclosure or are in the foreclosure process. Should a lot of new foreclosure hit the market, it might counter-balance the supply of homes and put pressure on prices.
Two reasons cited is the increase in short sales (see articles on this subject on this blog) and loan modifications have helped improve the situation. Also, investors have been snapping up existing foreclosed properties, which has helped balance the supply and demand in the marketplace.
Corelogic reported the "shadow inventory" dropped to 2.3 million in October 2012, from 2.6 million a year ago. Should we continue to see a decline in potential foreclosures, I think it bodes well for the housing market in general.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
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
Staying Away From The Flu (Influenza)
With the flu epidemic in full swing and many "snowbirds" entering the South Florida area, I thought it would be a good idea to review ways to avoid getting the flu.
Here are some things you can do to avoid the flu bug:
1) get immunized -- even in January, experts say it's not too late;
2) wash your hands -- the virus spreads from the hands by then touching your eyes, nose or mouth; hand sanitizers may not be effective; experts recommend washing with warm water and soap;
3) help prevent the spread -- if you need sneeze and cough, do so into a tissue or your sleeve;
4) stay home -- if you get the flu, stay home, it will help prevent the spread; and
5) take Tamiflu -- or another antiviral medication within the first 48 hours of illness; it can lessen negative effects of the illness and mitigate the duration of having the flu.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
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
Here are some things you can do to avoid the flu bug:
1) get immunized -- even in January, experts say it's not too late;
2) wash your hands -- the virus spreads from the hands by then touching your eyes, nose or mouth; hand sanitizers may not be effective; experts recommend washing with warm water and soap;
3) help prevent the spread -- if you need sneeze and cough, do so into a tissue or your sleeve;
4) stay home -- if you get the flu, stay home, it will help prevent the spread; and
5) take Tamiflu -- or another antiviral medication within the first 48 hours of illness; it can lessen negative effects of the illness and mitigate the duration of having the flu.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
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
Saturday, January 5, 2013
Palm Beach County Rental Occupancy Rate: Homes For Sale: Homes For Rent
The rental market in South Florida continues to show strong demand. According the the Sun-Sentinel, the occupancy rates for apartments in Broward County and Palm Beach County are past 90%.
The article also indicates landlords were able to raise monthly rent rates due to the high demand.
I tell clients to be prepared when making an offer as the rental market moves quickly. Prospective tenants should be prepared to put up an earnest money deposit and security (typically one month's rent each). Also, credit score, work history and related information will most likely need to be shared with prospective landlords and possibly condo/homeowner's associations.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
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
The article also indicates landlords were able to raise monthly rent rates due to the high demand.
I tell clients to be prepared when making an offer as the rental market moves quickly. Prospective tenants should be prepared to put up an earnest money deposit and security (typically one month's rent each). Also, credit score, work history and related information will most likely need to be shared with prospective landlords and possibly condo/homeowner's associations.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
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
Distressed And "Underwater" South Florida Homeowners: Homes For Sale: Homes For Rent
With the South Florida housing market on the upswing, people have asked me what the status of "underwater" and distressed properties in the market.
According to Zillow, about four in 10 homeowners in South Florida with a mortgage are "underwater," meaning they owe more on the home than the current value. I believe this situation is tamping down the rate of sales in the market. Many may want to move but are unable to as they will need to come up with money in order to meet the short fall from the sales price and the outstanding mortgage.
A recent article in the Sun-Sentinel about foreclosures quoted 29,6000 Florida homes that received a foreclosure notice in November 2012; this less than half of the state's peak of 64,588 foreclosure notices going out in April 2009.
There are still distressed properties in the South Florida real estate market, just not as many as there once were. Homeowners are still struggling with their current mortgages and I am here to help.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
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
According to Zillow, about four in 10 homeowners in South Florida with a mortgage are "underwater," meaning they owe more on the home than the current value. I believe this situation is tamping down the rate of sales in the market. Many may want to move but are unable to as they will need to come up with money in order to meet the short fall from the sales price and the outstanding mortgage.
A recent article in the Sun-Sentinel about foreclosures quoted 29,6000 Florida homes that received a foreclosure notice in November 2012; this less than half of the state's peak of 64,588 foreclosure notices going out in April 2009.
There are still distressed properties in the South Florida real estate market, just not as many as there once were. Homeowners are still struggling with their current mortgages and I am here to help.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
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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