Fort Lauderdale Foreclosures
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.
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