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
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I could nߋt refrain from commenting. Well written!
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