The zillow home value index rose to $149,300, 0.2% increase from the second quarter of 2011. According to Zillow residential values have gained for four month in a row.
Home values have begun to rise amid an increase in demand, interest rates at record lows and a tight supply of properties for sale.
Zillow is predicting a 1.1% rise in home values over the next 12 months.
Also, according to Realty Trac, initial notices of foreclosures have risen 6% … (2 comments)
According to the most recent report, foreclosure filing were down 2 percent from the previous quarter and down 16 percent from the first quarter of 2011 according the the Realty Trac U.S Foreclosure market report. The first quarter total was the lowest quarterly total since the forth quarter of 2007.
Q1 2012 Foreclosure Activity Lowest Since Q4 2007 By RealtyTrac Staff Foreclosure filings were reported on 572,928 properties during the first quarter of 2012, down 2 percent from the previous quarter and down 16 percent … (0 comments)
If anyone has any questions regarding this market then please contact me at anytime. Over all Real Estate Prices are trending upward over most parts of Florida. Great time for investors to purchase propeties in this area.
foreclosures: 5 best banks to buy from
- 03/07/12 10:56 PM
Saw an interesting article on the best banks to buy from on Realtytrac this morning. Very interesting reading, especially for all the people interested in purchasing a bank owned property. Here is the link for the story for anyone interested.
foreclosures: Will this foreclosure mess ever end?
- 10/03/11 11:08 AM
Interesting article in today's Daily Business Review regarding the current Forclosure maket. Over 2 years into this and still no solution in sight.
foreclosures: Law Firms flock to Florida to handle Foreclosures
- 09/25/11 03:13 AM
According to an article in Friday's Daily Business Review, a large number of out of state law firms are flocking to Florida to handle work from Fanniemae,Freddiemac and other banks. The firms are taking over files from the law offices of David J.Stern and Ben-Erza Kartz, , Two of the big foreclosure Mills that closed operations last year after investigations, lawsuits and allegations of improprieties with filing.
foreclosures: Banks and Foreclosed Properties
- 03/31/11 06:37 AM
Banks are being forced to maintain their foreclosed properties With the overwhelming number of foreclosures hitting the market, local lawmakers all across the country are moving to force the banks and financial institutions who are taking possession of these homes to perform the necessary property preservation services in a timely fashion, in order to prevent them from taking down whole neighborhoods with them. Here is Florida this is a common problem. The city and county governments are growing weary of all the complaints about overgrown yards, uncovered swimming pools turning into green cesspools and vacant homes either being broken into or … (0 comments)
HUD has released the date for the pending MIP (Mortgage Insurance Premium) increase. Something that would be good to know you if you have buyers on the fence about moving forward with a purchase. HUD is changing the annual percentage on FHA loans. For a while now HUD has been putting out information that they will have to raise premiums to keep the insurance fund for FHA loans solvent and properly funded and to continue to ensure new FHA loans. With FHA being the best low down payment programs out there, (along with … (1 comments)
Purchases of new homes fell to a new 12 year low ending in Dec of last year, the biggest annual decline on record. The medium price also dropped last month by 10% from Dec 2006, the biggest decline in 37 years.
These reports may reinforce the concern that falling home values and stricter lending rules will lead to more foreclosures and hurt consumer spending. The Federal Reserve as of late has been making drastic cuts, hopefully these rate cuts will help to avoid a recession.
These numbers may be a blow to the ideal of a … (1 comments)
The following information is not specific to all cities and counties, please contact your own city and county to verify any permit issues.
Selling your house with code violations could be very costly to you the seller. You should inform all prospective buyers in writing of any work that was done to your property without the proper permits. If you don't, the buyer could sue you if something later goes wrong or if the city eventually discovers that the work was done without the proper paperwork and demand that the work … (3 comments)
Building your own home can be difficult, but you can get a decent ball park figure if you have a good idea about the floor plan and materials you want before choosing a contractor.
Construction cost currently average between $95 and $150 per sq foot according to B4UBuild.com a company that provides floor plans and other information for people who are planning to build a new house.
You probable can keep your own costs down near the lower end of the spectrum if you settle for basic building materials, but expenses can quickly soar above $150 or even more than … (2 comments)
Buying properties at auction certainty has its advantages but the pitfalls are plentiful.
Shopping for real estate is always a trial, but buying a property at an auction-whether it's a Foreclosed unit sold by a lender or a new condo offered by a developer comes with a special set of problems.
Auctions are poised to become an alternative to conventional purchase strategies as bargain hunters seek to take advantage of the worst U.S. housing slump in 16 years.
South Florida has become one the most hardest hit areas of the nation, because of the cheap arability on money early in … (2 comments)
In spite of all the bad news reports as of late regarding the nations housing, there is plenty of good news, the most recent of which comes from NAR, the National Association Of Realtors.
Laurence Yun, the chief economist for NAR, has plenty of good news for realtors. At last month's conference. Yun attributed much of today's sub prime mortgage problems to greed. Wall Street wanted the 10-12 percent return that traditional mortgage products yielded as opposed to the smaller returns from more traditional mortgage products. His take on the Wall Street types were that they … (2 comments)
Home prices in 20 Metropolitan areas fell in October by the most in at least Six years, a private survey showed Wednesday.
Property values fell 6.1 percent from October 2006, more that forecast, After dropping 4.9 percent in September, according to the S&P/Case-Shiller Home Price index. The decrease was the biggest since the group started keeping year over year records in 2001. The index has fallen every month this year.
Prices are forecast by the experts to decline even more as the jump in foreclosures And stricter lending rules make it harder for buyers to find financing. These declining values make it harder for … (4 comments)
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Real Estate Broker, Miami/Palm Beach Florida area.
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Home values posted theire first Year-Over Year increase since 2007 in the second quarter according to Zillow Inc.
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