Percentage of Distressed Sales in Miami and Broward Counties

ByRobert August 11, 2014

For my friend John who asked me about how many homes in our marketplace are either short sales or foreclosures. Our market is different than what’s happening nationwide, however our news is not all bad. The percentage of distressed sales is still decreasing even here in Broward and Miami-Dade counties..

Nationally, distressed property sales represent 11% of sales

Here in Miami and Broward Counties (this graph represents Single Family Homes only. The figures for condo’s are similar.)

Foreclosure | Marketwatch

Distressed sales plummeting as inventory is absorbed
ByRobert May 21, 2013May 25, 2014

With so much talk in the news about the Shadow Inventory of homes I wanted to take a moment to look at the data to see if the hype is living up to reality. What we’re seeing is that the states that were hardest hit by the foreclosure crisis, namely Florida in particular, actually worked…

Read More Distressed sales plummeting as inventory is absorbed
Advice | Condominiums | Mortgage | Property Management | Sellers

Low down-payment options for condos very limited in South Florida
ByRobert March 4, 2013May 25, 2014

It’s a common question during the first interview with buyers who may be seeking a condominium here in South Florida: “So do you have a 25% – 30% down payment for your purchase?” It seems to be lost on home sellers during the current frenzy of activity that is fueled by investors and foreign…

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Buyers | Mortgage

Changes to FHA Mortgages effective September 14, 2015
ByRobert September 18, 2015

The FHA Mortgage program has some new and important changes that will certainly impact borrowers. Check out some of the major changes: 1. FHA will no longer allow student loans to be deferred. Lenders have to include a 2% payment in the debt-to-income calculation. 2. Only recorded land contracts can be done as a refinance…

Read More Changes to FHA Mortgages effective September 14, 2015
Advice | Buyers | Mortgage

Floridians are paying the 9th highest closing costs in the nation
ByRobert August 26, 2013May 25, 2014

Check out the interesting article at BankRate.com that describes how Floridians are paying the 9th highest closing costs in the nation. Besides lender fees and title charges, don’t forget about your pre-paid taxes and your insurance premiums when you’re calculating how much to save for your down-payment. Here in South Florida, your insurance premiums are…

Read More Floridians are paying the 9th highest closing costs in the nation
Advice | Buyers | Mortgage | Video

Mortgage interest rates don’t vary much between lenders like they can with credit cards or car loans
ByRobert March 7, 2017March 7, 2017

Mortgage interest is consistent among various lenders A client asked me about shopping around for mortgage rates this week. She thought that mortgages were similar to car loans or credit cards and that they could vary greatly depending on your credit score and credit blemishes. In reality, mortgage interest rates among lenders are pretty similar….

Read More Mortgage interest rates don’t vary much between lenders like they can with credit cards or car loans
Advice | Live The Dream | Marketwatch | Mortgage

National Snapshot: What’s Ahead for Real Estate
ByRobert September 3, 2019

The U.S. unemployment rate is at a 50-year low, and consumer confidence remains high. In fact, the University of Michigan’s latest Surveys of Consumers found that Americans have their most positive personal finance outlook since 2003.1 However, if you follow national news, you’ve probably heard speculation that we could be headed toward a recession. Global trade tensions…

Read More National Snapshot: What’s Ahead for Real Estate

Nationally, distressed property sales represent 11% of sales

Here in Miami and Broward Counties (this graph represents Single Family Homes only. The figures for condo’s are similar.)

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