BankAtlantic and BankUnited have announced a moratorium on their foreclosure activities as they await the Obama Administration' recovery program for the housing market.
There are still plenty of Fort Lauderdale bank owned homes for sale despite the slowdown in foreclosure filings in May. Total filings from January to the middle of June reached nearly 18,000 in Broward County, where Fort Lauderdale is located.
Fort Lauderdale-based Bank of Florida finally succumbed to foreclosure properties auction on May 28. A combined total of $47.3 million in failed construction and development loans by seven developers knocked down the bank.
Pending housing unit sale agreements, including those for multi family homes for sale, have risen in some areas of Florida in December 2010. The increase was almost 30% compared with year-ago levels.
Buying fixer upper homes and repossessed homes in South Florida last year meant more choices. The number of bank repossessed houses was up in the area in 2010.
Commercial properties are starting to swamp foreclosures listings nationwide. Mezzanine lenders are pushing commercial buildings into foreclosures to gain control of the properties.
Bank foreclosure homes owned by seniors who have reverse mortgages are expected to rise in Florida. Defaults among reverse mortgage holders are rising.
Sales of existing residential properties, including bankruptcy distressed homes, declined in some areas of Florida in December. Despite the drop, analysts believe that 2011 will be a better year.
The high number of foreclosed and bank repo homes in Florida had pulled the prices of existing dwellings in most areas of the state during the third quarter of 2010, analysts have reported.
Fort Lauderdale foreclosure auctions are getting quicker as Broward County has been holding its public auctions online since March. Nearly, 6,800 Broward homes entered foreclosure in May.
Fort Lauderdale foreclosures in the condo sector will be contained through bulk purchases if a new legislative bill that would eliminate risks in bulk buying is approved. Liability for the maintenance of common areas oftentimes discourages bulk buyers from pursuing their investments.
The foreclosure crisis has been spreading fast into Fort Lauderdale. More than 52,000 homes and a number of high-cost commercial properties in the Fort Lauderdale area entered foreclosure in April.
Gaining profits from cheap houses for sale in Fort Lauderdale is workable as filings continue to push down prices in the area. More than 52,000 foreclosure actions were filed in the Miami-Fort Lauderdale area.
The number of foreclosed homes and fixer upper houses for sale is expected to rise in Florida following the state's implementation of a shortcut method designed to lower backlog figures.
The still surging number of Fort Lauderdale repo homes has put the city on the Forbes list of the top ten U.S. cities in free fall. The sales price median for homes fell further by 3 percent in March to $214,000.
Fort Lauderdale foreclosure homes continue to drive substantial price discounts. With a price discount rate of 14.89 percent, the Fort Lauderdale metro area posted the biggest discount rate among metro areas in February this year.
Home prices in Fort Lauderdale improved in May as home auctions for sale slowed. The median price for pre-owned houses sold in May rose to $216,400, up from the May 2009 median of $190,000.
Buyers of lis pendens foreclosures in South Florida will be affected by a new plan, analysts stated. They claim that a government retreat will harm housing.
The still high number of Fort Lauderdale foreclosures for sale has been hindering the increase of home prices in the area. Home sales increased in the July-September, but sales prices dropped.
As lists of government foreclosures for sale grow, more people apply for loan refinancing. Between October and November, Florida recorded the biggest increase in requests.
Home foreclosures in Fort Lauderdale increased to record levels over the past years in part because of fraudulent mortgage loans. The Miami-Fort Lauderdale area has the highest number of residents indicted for mortgage fraud since 2007.
Fort Lauderdale is a fantastic place to live and home builders are developing great new home communities in this area of Florida. Here are some things that will make your search much easier.
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