Foreclosure Market South Florida 2013

Foreclosure Market South Florida 2013

In May the  Foreclosure Market South Florida 2013 we have seen months over months that the foreclosure market in South Florida has decreased. Surprisingly the Foreclosure Market South Florida 2013 was pushed into the #1 spot for the nation’s wide foreclosure filings.

If you are considering buying a property in foreclosure you can still find deals on a house in Broward, Miami-Dade and Palm Beach County but having a good advisor who understands the market is a must. Don’t wait on the sidelines for too long, many of our properties are starting to sell within a few hours of hitting the market. To make sure to get the best deal possible, you will have an agent that does handle Real Estate Owned properties to make sure that you don’t overpay in bidding wars.

If you are interested in how much current foreclosure inventory is on the market in South Florida you can find that information by clicking on the link. Currently in the area of South Florida, foreclosure filing has increased  where in Miami-Dade County one in every 143 housing units had a foreclosure filing. Foreclosure filings in Broward County were one in every 317 and in Palm Beach County one in every 286 received foreclosure filings. As of RealtyTrac Florida had one in 302 housing units with a foreclosure filing during the month, nearly three times the national average.

Foreclosure Market South Florida 2013

Foreclosure Market South Florida 2013

 

This would suggest that buyers are still in a great position to make a one in a lifetime deal on a home. Since South Florida at this time has a low bank owned inventory multiple offers coming in on homes similar to what we saw back in 2007 and cash is king.  I wouldn’t expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.

Find Foreclosure Market South Florida 2013

Visit my website and search for homes in Foreclosure in Miami, Fort Lauderdale or Palm Beach or be notified when homes in foreclosure come on the market in South Florida.

To find out what your home is worth in the current market click the link.

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