short sale: MORE LUXURY HOMES GOING TO AUCTION - 03/11/10 09:48 AM
  As foreclosures begin to rise in the luxury home market, an increasing percentage of these properties are being sold at auction.  
 In 2009, close to 19000 homes with values exceeding $ 1 million were in some stage of foreclosure.  This represents a 160% increase from 2008.  
At the same time, prices of homes in the luxury market on average have decreased  approximately 25%.  Values of luxury properties have taken even larger hits in specific areas of the country such as California, Florida, Nevada, Arizona and Michigan.  
Many homeowners who are not candidates for short sales and want to avoid foreclosure are turning … (0 comments)

short sale: 15% Year to Year Increase in Foreclosures - 02/18/10 05:40 AM
  It was just reported that the number of homes in the US now facing foreclosure jumped 15% in one year and that another wave of debt ridden homeowners could be adding to those numbers in the months ahead.
  In 2009, approximately 2.8 million households were threatened with foreclosure.  This year that number is already expected to rise up to 3.5 million according to RealtyTrac, a leading real estate services firm.   Slowing the foreclosure rate is a key step in the recovery of the real estate market.
 Many foreclosures can be avoided if homeowners take proactive steps to work … (0 comments)

short sale: The Commercial Real Estate Dilemma - 02/14/10 12:07 AM
Financial institutions are  saddled with a potential  loss of over $300 billion or more in commercial loans that will be coming due over the next several years. These enormous losses could actually cause banks to fail and create enormous challenges for cities that will be left with abandoned buildings and empty storefronts. 
Smaller banks are actually much more vulnerable than  large Wall Street firms since smaller banks make up a large percentage of commercial lenders and lack the loan loss reserves to meet such a challenging downturn in the commercial markets
 Commercial values have fallen as much as 40% over the past 3 years.   … (3 comments)

short sale: Short Sale and Auction! - 01/08/08 07:19 AM
It is no secret that new foreclosures have been raising throughout 2007 and that new foreclosures will increase during 2008. Both homeowners and investors have found themselves upside down on their property's market value, as values have declined and demand has slowed. As a result, many homeowners now have to consider selling their homes for less than what they currently owe. This type of sale, in which the proceeds fall short of the existing mortgage(s), is known as a "short sale."
Fortunately, the vast majority of lenders prefers not to foreclose on properties but would rather work out a mutually beneficial arrangement … (0 comments)

Investor Realty Group, Local Expertise with a Global Reach (Investor Realty Group, LLC)

Investor Realty Group

Local Expertise with a Global Reach

Jacksonville, FL

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Investor Realty Group, LLC

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