Foreclosure Alternatives
Maybe it’s because of Twitter or LinkedIn, or maybe because we reach such a large audience here on the Fort Lauderdale Real Estate Blog…but lately I’ve been getting a lot of interest and requests from people in the industry to post their articles as guest authors. Most of the people just don’t have the credibility and degree of success that warrants me introducing them to our readership.
However, when a guy comes along who sells hundreds of homes per year (including 90 homes in under a week!) and generates over $100 Million dollars in sales and has been an award winning Realtor for nearly 25 years, then I think he’s got something to say, and I want to hear it. I think you will too. Read more
“I Want To Live By The Beach And I Only Want To Spend $70,000.00!”
I get calls like this all the time. Here’s how they start out…”I want a 3 bedroom 2 bath home in a gated community, near the beach and I only want to spend around $70,000.00!” Huh? “Yeah, I know the market sucks and I can probably steal something for $100,000.00 near the beach.” Huh?
Sir..can I ask you a question? “What beach are you talking about?” You must have Fort Lauderdale Beach confused with some shanty town beach lined with all you can eat fish fry’s and sleazy bars and t-shirt shops. Read more
The Best Places To Live In Fort Lauderdale | Fort Lauderdale Neighborhoods
The Best Places To Live In Fort Lauderdale | Fort Lauderdale Neighborhoods … I bet you thought I was really going to tell you where the best neighborhoods in the Fort Lauderdale real estate market are.
I also bet a lot of my competitors, who can’t keep pace with the Fort Lauderdale Real Estate Blog, thought they had me and were all set to file a complaint against me for “steering”. Read more
Jackson Tower | Jackson Tower Luxury Hi-Rise Condominium
Available Units In The Jackson Tower
Jackson Tower is a hi-rise luxury condominium located on Fort Lauderdale Beach. The Jackson Tower is close to everything including the world famous Las Olas Boulevard shopping district known for its fine boutiques and wonderful restauants. Read more
The Return Of The Foreclosure Machine!
Sounds like a good title for a horror flick doesn’t it? However it’s a reality show!
The Wall Street Journal reported today that the major banks are revving up the big foreclosure machine again. The brief respite wasn’t due to any change in market fundamentals or because the banks were simply being nice but rather because of an “agreement” …a moratorium if you will on pursuing foreclosures. It seems that the big banks wanted to see what the big plan Obama had for cleaning up this mess…obviously they have lost faith. They’re not alone!
Loan Modifications Only Prolong The Inevitable
What was hailed as the saving grace for those in foreclosure has turned out to be more hype than reality. For the overwhelming majority, loan modifications don’t work.
With urging from the Obama administration and pleading from community activist groups like ACORN, banks and mortgage lenders sought to quell the rising tide of foreclosures by increasing their attempts to modify troublesome mortgages. Yet less than 50% of all loans modified resulted in payments being lowered by more than 10% and many borrowers re-defaulting on those modifications. Read more
What Happens When Even The Bank Doesn’t Want The House?
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.
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.
The Housing Crisis In The Fort Lauderdale Real Estate Market Is Redefining The Term Felon!
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!
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.