Florida foreclosures fall - except Orlando?

By
Real Estate Broker/Owner with Home Clicks Realty FL RE License #BK3212834

This is surprising and, what's more, 6% of foreclosures are NOT from mortgages obtained during the boom - they're this year. What's up with that?

Maybe, just maybe, the Banks will start releasing the "hidden" inventory of pre-foreclosed homes sitting in the courts. There are hundreds in the Orlando area.

First time home Buyer's could use a break. There's not enough affordable inventory for them to take advantage of these historically low mortgage rates. Imagine borrowing $1,000 for $5 a month.

Owning a home is as affordable as rent. It's just tough to find affordable homes. Releasing more of these homes could be a solution. If you're looking for a home, search here -www.lovewhereyouliveorlando.com

Why now, and not earlier? Prices, are not appreciating as much as a year ago. They're up 13% this year versus 28% a year ago.

Catch the full article here - http://eeditionmobile.orlandosentinel.com/Olive/Tablet/OrlandoSentinel/SharedArticle.aspx?href=OSN%2F2014%2F07%2F17&id=Ar01400

Comments (1)

Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Enjoyed your blog post Chris.  Keep em' coming and Welcome to ActiveRain!

Jul 16, 2014 11:05 PM