RealtyTrac reports foreclosures are at a 7 month high after 230,678 U.S. filings in the month of October. However this is down 31% from last year. They attribute some of the annual decline to banks getting more efficient at the process of buying a foreclosure. Anyone who has bought [...] Read more »
What Happens in Florida, Will Happen Everywhere Else
Want to know what will happen in the U.S. Real Estate Market? Watch Florida. Jim Cramer says Florida is the template for where the US housing market is headed. Florida real estate lead the way during the boom and the bust, and will lead the way in a recovery. Look [...] Read more »
Florida Foreclosure Pain Continues
Foreclosure activity is on the rise as Florida continues to have one of the highest rates of foreclosures in the nation. California and Nevada round out the top three and foreclosures were reported as increasing 32 percent from last year. This means that more bank repos are on the way [...] Read more »
Property Underwater? You have 2 choices
Pay or do not Pay. Florida, California and Nevada fill up the top ten cities with negative equity, with 43.5% of homes being upside down in nearby Port St. Lucie. You pay, you stay. You don’t pay, you will be foreclosed on and will be forced to move out. Modifications [...] Read more »
Top 5 Foreclosure Mistakes
If you do decide to invest, make sure you avoid these top 5 foreclosure purchasing mistakes: 1. You say, “It was worth double that in 2005.” IRRELEVANT. You need to look at where the value is going, not where it’s been. Most properties will continue to depreciate for many years. [...] Read more »