What Happens When Even The Bank Doesn’t Want The House?
March 31, 2009
As we are all seeing this foreclosure play unfold, it seems that another act has been written that most have not seen or even thought about. What happens when the decline in value is so steep that the option of foreclosure is too expensive for the bank to undertake? Would you spend $100.00 to collect $99.00? Would you spend $100.00 to collect $50.00? Well banks are running the numbers and now it seems that the market has turned so GOOD that even the banks are simply walking away.
Kitesurfing In Fort Lauderdale
March 30, 2009
As scary as it looks, it seems to be even more of a rush which in my adventurous mind, something worth checking out. If you are not familiar with this activity / sport, imagine tying yourself to a parachute and a surfboard. Well maybe that’s a bad description but it sure seemed like it while I was watching. Read more
Broward Real Estate Investors
March 29, 2009
I would like to welcome all of the current Broward Real Estate Investors to our site and invite anybody else who might be looking for a great deal in the Fort Lauderdale real estate market. In fact our expansion is including a branching out to include investors in Palm Beach and Dade as well.
We feel we have the best resource online for investors to find and preview the best investment deals available on the market. Most of the leg work has been done, just by clicking a few links you can view all of the REO properties that are available in the Metropolitan Fort Lauderdale area. Read more
Fort Lauderdale Foreclosures
March 28, 2009
Fort Lauderdale Foreclosures Driving Sales Numbers In Local Real Estate Market.
If you’re looking to buy a foreclosure as a residence to live in or as a Fort Lauderdale investment property, we have a special service that you may want to take advantage of. Watch the short video below and learn about our private, premium Buyer’s service. The Fort Lauderdale Real Estate Concierge Service will afford you the opportunity to been on the pulse of the market.
Traditional foreclosure search methods are obsolete. The properties here in South Florida are moving too fast. If you are serious about buying a foreclosure or short sale in the Fort Lauderdale area then watch the video below!
While it was reported recently by the National Association of Realtors that existing home sales were up by 5% in February, it is what is driving those sales that is most interesting. First time home buyers accounted for half of all homes purchased and an astounding 45% of all transactions were distressed properties.
The numbers are even MORE shocking here in the Fort Lauderdale real estate area. In looking at the sales numbers for January and February of this year, Fort Lauderdale foreclosures account for nearly 60% of all sales. That wasn’t a typo. Yes, I said 60%! That’s unbelievable isn’t it?
By the way, these numbers are only for single family homes. I’m not even including the condos for sale in the Fort Lauderdale area.
Here’s another stat that may blow you away. (I know there’s a lot of numbers here, but please hang in there) As we begin seeing the market hit what may be bottom, we are seeing affordability returning to the market. This is evidenced by the fact that nearly 7% of all single family homes on the market are foreclosures or distressed properties available for UNDER $100,000.00!!
That’s amazing! a new home buyer or a South Florida real estate investor can buy a home that will either be a great starter home or a great rental property with immediate cash flow potential. With mortgage rates in the 5% area, affordability AND profitability has returned to the Fort Lauderdale real estate market.
Now comes the scary part. Be advised that buying Fort Lauderdale foreclosures and other distressed properties, whether they be bank owned homes or short sales, takes a certain amount of expertise to enter into this market. There can be lots of hidden problems that only a distressed property expert can alert you to.
Code violations, tax issues,building improvements with no permits…you name it and in the distressed property niche of real estate you may find it. I wouldn’t advise that anyone look at buying any of the Fort Lauderdale foreclosures without having the assistance of an experienced advisor.
Luckily, if you are looking for a great deal on a foreclosure in the Fort Lauderdale area, our office specializes in foreclosures and short sales. In addition to my 10 years of experience managing my clients through the labyrinth of hundreds of foreclosure and short sale transactions, I have assembled the best team of professionals in the South Florida area to help with whatever problem may arise.
If you are looking for a great deal on any of the Fort Lauderdale foreclosures or short sales on the market, or if you yourself are in foreclosure and would like to speak to someone about your situation, please email me at robins@robinashley.com or give me a call at 954-709-7461 and I would be more than happy to assist you.
If you’re in foreclosure and would like to know how we can help you, please take a look at how we stop Fort Lauderdale foreclosures.
The Housing Crisis In The Fort Lauderdale Real Estate Market Is Redefining The Term Felon!
March 28, 2009
The Housing Crisis Is Making Criminals In The Fort Lauderdale Real Estate Market
Everyone here at the Fort Lauderdale Real Estate blog spends time each week keeping up on the latest news and laws that affect Fort Lauderdale home prices and trends. In reading a recent article in the South Florida Sun Sentinel regarding mortgage fraud, the paper made a startling assertion.
According to a group called the Mortgage Asset Research Institute, mortgage fraud can be found in an estimated 80% of ALL foreclosures. Read more
No Wonder So Many Agents Don’t Have A Clue How To Do Short Sales!
March 26, 2009
You know it amazes me the amount of disinformation that gets spewed by the johnny-comelately’s of the real estate world who all of a sudden think they know how to do short sales. All I can hope for is a return to the way it was a few years ago when those of us who decided to specialize in short sales and distressed or bank owned properties were basically kings and queens of our own domain.
The Best Realtor In East Fort Lauderdale
March 24, 2009
I recently read a Digg wherein a couple of guys had declared themselves as the best realtor in east Fort Lauderdale. In addition to sounding cocky, and blatantly full of themselves, I was wondering how this award was self-conferred. Was there some awards ceremony that yours truly was not invited to? Was there some contest that I missed? Was there some reality show that I didn’t see? No…just a couple of shameless agents trying to drum up some business…how sad.
Part Time Realtors And Part Time Real Estate Agents
March 16, 2009
Excuse me for a moment, it’s hard to type with this suit of armor I have on. You see after some agents see this I may be on the hit list of a number of them. However, don’t worry too much. If they are as proficient at hitting a target as they are at being real estate agents, I shouldn’t have much of a problem.