HOME FORECLOSURE LEVELS

By
Real Estate Agent with One Sothebys International Realty


 A home foreclosure, if you can find one, is unlikely to be the deal it once was. Lenders know that available inventory is low and aren't likely to sell any foreclosure for just the outstanding loan plus accrued interest & fees owed. DM or contact me with any questions.

Posted by

 Your blingual residential real estate guide. Certified Probate Real Estate Specialist (CPRES) and Certified Distressed Property Expert (CDPE).  Serving Pembroke Pines, Fl.  and surrounding communities.   


Dalia Kibby, PA
  Direct 954-610-7864| email me
website www.daliasellshomes.com | search for homes

 

If you are Buying, Selling or Relocating to the South FLorida area and need help from a professional REALTOR®, I would be happy to assist you! I also work with  estate Executers, Personal Representatives and Administrators .     Please visit my website for property searches, to sign up for free listing alerts and other information.   

 

Comments (5)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Dalia, when I do the Denver market update, I always look for short sales and bank owned properties, and never see any.   We do have two bank-owned right now, one is 3.5 hours from Denver.

May 15, 2022 10:27 AM
DALIA KIBBY

Yes, sounds like the South Florida market. With inventory so low, homeowners can simply sell their homes regardless of condition, instead of going through the foreclosure process. Thanks for commenting! 😊

May 23, 2022 08:01 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello DALIA KIBBY very good report about home foreclosure levels. Foreclosures might increase within several months.

May 15, 2022 12:00 PM
DALIA KIBBY

A lot of folks have paid a lot of money for their homes recently; if a recession occurs in the coming months, I can understand how some of these homes may be foreclosed. Thanks for commenting. 😊

May 23, 2022 08:03 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thank you for sharing the information.

 

Buyers and sellers in your area will benefit from your expertise. Wishing you continued success.  Have a wonderful day and sell a house.  bill

 

May 15, 2022 01:43 PM
DALIA KIBBY

Thanks so much, have a great week! 

May 23, 2022 08:04 AM
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse specialist

Manhattan only had about 13 foreclosures per quarter. I am pretty sure it's near zero as the courts were frozen. 

Last week, I finally closed the apartment next to mine- a common charge lien foreclosure (sort of like an HOA foreclosure...but not exactly the same) . It took us 11 years to foreclose plus 2 more years to sell it to a new owner because the market got hit due to Covid. The court awarded the condo association up to $350,000- but we didn't see anywhere near that much at closing. In reality- the neighbors default likely cost us up to $500k over a nearly 13 year period. The courts here are insane- as there is no reason why it should have taken us a fraction of the time it took us to foreclose. At least we now have new owners that will be able to pay the common charges on time. 

May 15, 2022 05:01 PM
DALIA KIBBY
One Sothebys International Realty - Cooper City, FL
Selling Broward County Homes with Passion!

First, congratulations on seeing this process through & closing on the unit! But, what a lengthy, inefficient process to get there, I had no idea. I still have folks ask me to find them foreclosures and short sales properties, thinking that these are still the deal they once were. Good luck to you, have a great week! 🙂

May 23, 2022 08:10 AM